Government Owned Corporations (QTSC Restructure—Stage 1) Regulation 1997

Queensland Government Owned Corporations Act 1993 GOVERNMENT OWNED CORPORATIONS (QTSC RESTRUCTURE—STAGE 1) REGULATION 1997 Reprinted as in force on 5 June 1997 (Regulation not amended up to this date) Reprint No. 1 This reprint is prepared by the Office of the Queensland Parliamentary Counsel Warning—This reprint is not an authorised copy

Information about this reprint This regulation is reprinted as at 5 June 1997. Minor editorial changes allowed under the provisions of the Reprints Act 1992 have been made to omit provisions that are no longer required (s 40). See endnotes for information about when provisions commenced.

Queensland GOVERNMENT OWNED CORPORATIONS (QTSC RESTRUCTURE—STAGE 1) REGULATION 1997 TABLE OF PROVISIONS Section Page PART 1—PRELIMINARY 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 2 Purpose of this regulation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 3 Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 PART 2—PROPOSED SUBSIDIARIES 4 Establishment of GOC Act entities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 5 Proposed subsidiaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 Status of retail corporations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Retail corporations’ functions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 8 Retail corporations’ powers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 9 Limitation about contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 10 Interim board of directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 11 Application of s 57A(a) of Act—Act, s 62(2) . . . . . . . . . . . . . . . . . . . . . . . . 8 12 Application of s 57B(1) of Act—Act, s 62(2) . . . . . . . . . . . . . . . . . . . . . . . . 9 13 Application of 57B(4) of Act—Act, s 62(2) . . . . . . . . . . . . . . . . . . . . . . . . . 10 14 Application of s 57C of Act—Act, s 62(2) . . . . . . . . . . . . . . . . . . . . . . . . . . 10 15 Delegation by board . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 16 Retail corporations’ seals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 17 Authentication of documents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12

2 Government Owned Corporations (QTSC Restructure—Stage 1) Regulation 1997 ENDNOTES 1 Index to endnotes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 2 Date to which amendments incorporated . . . . . . . . . . . . . . . . . . . . . 13 3 Key . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 4 List of legislation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 5 List of annotations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

s1 3 s3 Government Owned Corporations (QTSC Restructure—Stage 1) Regulation 1997 GOVERNMENT OWNED CORPORATIONS (QTSC RESTRUCTURE—STAGE 1) REGULATION 1997 [reprinted as in force on 5 June 1997] † PART 1—PRELIMINARY ˙ Short title 1. This regulation may be cited as the Government Owned Corporations (QTSC Restructure—Stage 1) Regulation 1997 . ˙ Purpose of this regulation 2. This regulation— (a) establishes 3 GOC Act entities; and (b) declares the GOC Act entities to be proposed subsidiaries of certain candidate GOCs; and (c) provides for the functions and powers of each proposed subsidiary; and (d) provides for each proposed subsidiary to have an interim board of directors and a chief executive officer; and (e) provides for certain matters about the functioning of each proposed subsidiary as a body corporate; and (f) amends the Government Owned Corporations Regulation 1995 to declare certain entities as candidate GOCs. ˙ Definitions 3. In this regulation—

s3 4 s3 Government Owned Corporations (QTSC Restructure—Stage 1) Regulation 1997 “CEC” means Capricornia Electricity Corporation. “CEC(DBU)” means the candidate GOC consisting of CEC, other than the part of CEC known as its retail business unit. “CERC” means Central Electricity Retail Corporation. “FNQEC” means Far North Queensland Electricity Corporation. “FNQEC(DBU)” means the candidate GOC consisting of FNQEC, other than the part of FNQEC known as its retail business unit. “GET1” means the business unit of QTSC known as Group Energy Trader 1. “GET2” means the business unit of QTSC known as Group Energy Trader 2. “GET3” means the business unit of QTSC known as Group Energy Trader 3. “MEC” means Mackay Electricity Corporation. “MEC(DBU)” means the candidate GOC consisting of MEC, other than the part of MEC known as its retail business unit. “NERC” means Northern Electricity Retail Corporation. “NQEC” means North Queensland Electricity Corporation. “NQEC(DBU)” means the candidate GOC consisting of NQEC, other than the part of NQEC known as its retail business unit. “QTSC” means Queensland Transmission and Supply Corporation. “relevant corporatisation day” means— (a) for CERC—the day on which the candidate GOCs for which CERC is a proposed subsidiary become GOCs; and (b) for NERC—the day on which the candidate GOCs for which NERC is a proposed subsidiary become GOCs; and (c) for SERC—the day on which the candidate GOC for which SERC is a proposed subsidiary becomes a GOC. “retail corporation” means— (a) CERC; or

s4 5 s5 Government Owned Corporations (QTSC Restructure—Stage 1) Regulation 1997 (b) NERC; or (c) SERC. “SEQEC” means South East Queensland Electricity Corporation. “SEQEC(DBU)” means the candidate GOC consisting of SEQEC, other than the part of SEQEC known as its retail business unit. “SERC” means Southern Electricity Retail Corporation. “SWQEC” means South West Queensland Electricity Corporation. “SWQEC(DBU)” means the candidate GOC consisting of SWQEC, other than the part of SWQEC known as its retail business unit. “WBBEC” means Wide Bay-Burnett Electricity Corporation. “WBBEC(DBU)” means the candidate GOC consisting of WBBEC, other than the part of WBBEC known as its retail business unit. † PART 2—PROPOSED SUBSIDIARIES ˙ Establishment of GOC Act entities 4. The following GOC Act entities are established— (a) Central Electricity Retail Corporation; (b) Northern Electricity Retail Corporation; (c) Southern Electricity Retail Corporation. ˙ Proposed subsidiaries 5.(1) CERC is a proposed subsidiary of the following— • CEC(DBU) • SWQEC(DBU) • WBBEC(DBU). (2) NERC is a proposed subsidiary of the following—

s6 6 s7 Government Owned Corporations (QTSC Restructure—Stage 1) Regulation 1997 • FNQEC(DBU) • MEC(DBU) • NQEC(DBU). (3) SERC is a proposed subsidiary of SEQEC(DBU). ˙ Status of retail corporations 6. On the commencement of this section, each retail corporation— (a) is a body corporate; and (b) has the name under which it is established; and (c) has a seal; and (d) may sue and be sued in its corporate name. ˙ Retail corporations’ functions 7.(1) On the commencement of this section, the functions of CERC are— (a) to make arrangements necessary to ensure it will be ready to start operating as a GOC subsidiary on its relevant corporatisation day as the successor, or substantially the successor, of— (i) CEC in so far as the part known as its retail business unit is concerned; and (ii) SWQEC in so far as the part known as its retail business unit is concerned; and (iii) WBBEC in so far as the part known as its retail business unit is concerned; and (iv) QTSC in so far as GET2 is concerned; and (b) to do other things as directed in writing by the QTSC’s shareholding Ministers. (2) On the commencement of this section, the functions of NERC are— (a) to make arrangements necessary to ensure it will be ready to start

s7 7 s7 Government Owned Corporations (QTSC Restructure—Stage 1) Regulation 1997 operating as a GOC subsidiary on its relevant corporatisation day as the successor, or substantially the successor, of— (i) FNQEC in so far as the part known as its retail business unit is concerned; and (ii) MEC in so far as the part known as its retail business unit is concerned; and (iii) NQEC in so far as the part known as its retail business unit is concerned; and (iv) QTSC in so far as GET3 is concerned; and (b) to do other things as directed in writing by the QTSC’s shareholding Ministers. (3) On the commencement of this section, the functions of SERC are— (a) to make arrangements necessary to ensure it will be ready to start operating as a GOC subsidiary on its relevant corporatisation day as the successor, or substantially the successor, of— (i) SEQEC in so far as the part known as its retail business unit is concerned; and (ii) QTSC in so far as GET1 is concerned; and (b) to do other things as directed in writing by the QTSC’s shareholding Ministers. (4) In making arrangements under subsection (1)(a), (2)(a) or (3)(a), a retail corporation is limited to— (a) making arrangements about— (i) its banking; and (ii) its corporate intent, plan and image; and (iii) its internal organisational structure; and (iv) other matters of internal administration; and (b) entering into contracts (applying on or after its relevant corporatisation day) about its corporate administration and operation.

s 8 8 s 11 Government Owned Corporations (QTSC Restructure—Stage 1) Regulation 1997 ˙ Retail corporations’ powers 8. On the commencement of this section, each retail corporation may do all things necessary or convenient to be done for the performance of its functions, including, for example— (a) borrowing; and (b) hiring consultants to advise it. ˙ Limitation about contracts 9.(1) In this section— “major contract” , for a retail corporation, means a contract under which the retail corporation can reasonably be expected to have to provide or to have the right to receive, to the total value of more than $1 000 000, 1 of the following, or a combination of 2 or more of the following— (a) cash; (b) goods; (c) services. (2) A retail corporation must not, without the written agreement of QTSC’s shareholding Ministers, enter into a major contract. ˙ Interim board of directors 10. On the commencement of this section, each retail corporation is to have an interim board of directors. ˙ Application of s 57A(a) of Act—Act, s 62(2) 11.(1) Section 57A(a) of the Act is applied to each retail corporation and as applying is changed to read as follows 1 — Chief executive officers for proposed subsidiaries 57A. A regulation may provide that a retail corporation is to have a chief 1 Changes are shown in italics.

s 12 9 s 12 Government Owned Corporations (QTSC Restructure—Stage 1) Regulation 1997 executive officer. (2) Each retail corporation is to have a chief executive officer. ˙ Application of s 57B(1) of Act—Act, s 62(2) 12.(1) Section 57B(1) of the Act is applied to each retail corporation, and as applying is changed to read as follows 2 — Application of certain provisions about chief executive officers of retail corporations 57B.(1) Sections 98 to 100 apply to a retail corporation , with all necessary changes and any changes prescribed by regulation, as if it were a statutory GOC. (2) For its application to a retail corporation, section 100 of the Act is changed to read as follows 3 — Delegation by chief executive officer 100.(1) The chief executive officer of a retail corporation may delegate the chief executive officer’s powers (including a power delegated to the chief executive) to an appropriately qualified officer or employee whose services are made available to the retail corporation under assistance given or an arrangement made under section 57C 4 as applied under the Government Owned Corporations (QTSC Restructure—Stage 1) Regulation 1997 . (2) Subsection (1) has effect subject to any directions of the retail corporation’s interim board of directors . (3) In this section— “appropriately qualified” includes having the qualifications, experience or standing appropriate to exercise the power. Example of standing— A person’s classification level in the entity in which the person is employed. 2 Changes are shown in italics. 3 Changes are shown in italics. 4 Section 57C (as applying under this regulation) (Assistance to proposed subsidiaries )

s 13 10 s 14 Government Owned Corporations (QTSC Restructure—Stage 1) Regulation 1997 ˙ Application of 57B(4) of Act—Act, s 62(2) 13. Section 57B(4) of the Act is applied to each retail corporation, and as applying is changed to read as follows 5 — (4) Schedule 2 applies to a retail corporation , with all necessary changes as if it were a statutory GOC and its interim board of directors were its board of directors. ˙ Application of s 57C of Act—Act, s 62(2) 14. Section 57C of the Act is applied to each retail corporation, and as applying is changed to read as follows 6 — Assistance to proposed subsidiaries 57C.(1) The shareholding Ministers of QTSC may direct the entities mentioned in subsection (2) to assist a retail corporation . (2) The entities are— (a) for assisting CERC— (i) CEC, SWQEC, WBBEC and QTSC; and (ii) the chief executive officers of the entities mentioned in subparagraph (i); and (b) for assisting NERC— (i) FNQEC, MEC, NQEC and QTSC; and (ii) the chief executive officers of the entities mentioned in subparagraph (i); and (c) for assisting SERC— (i) SEQEC and QTSC; and (ii) the chief executive officers of the entities mentioned in subparagraph (i). 7 (3) Without limiting by implication the matters about which directions may be given under subsection (1), a retail corporation may arrange with the chief executive 5 Changes are shown in italics. 6 Changes are shown in italics. 7 Under the Government Owned Corporations (QTSC Corporatisation) Regulation 1994 , CEC, FNQEC, MEC, NQEC, SEQEC, SWQEC and WBBEC are subsidiaries of QTSC.

s 15 11 s 16 Government Owned Corporations (QTSC Restructure—Stage 1) Regulation 1997 of a department, or with an entity mentioned in subsection (2)(a)(i), (b)(i) or (c)(i) , for the services of officers and employees of the department or entity to be made available to the retail corporation . ˙ Delegation by board 15.(1) Each retail corporations’s interim board of directors may, by resolution, delegate its powers to— (a) a director; or (b) a committee of the board; or (c) the retail corporation’s chief executive officer; or (d) an appropriately qualified officer or employee whose services are made available to the retail corporation under assistance given or an arrangement made under section 57C of the Act as applied under this regulation. (2) In this section— “appropriately qualified” includes having the qualifications, experience or standing appropriate to exercise the power. Example of standing— A person’s classification level in the entity in which the person is employed. ˙ Retail corporations’ seals 16.(1) Each retail corporation’s seal must be kept in the custody directed by the retail corporation’s interim board of directors and may be used only as authorised by the board. (2) The attaching of the seal to a document must be witnessed by— (a) at least 2 directors; or (b) at least 1 director and the retail corporation’s chief executive officer; or (c) a director or the chief executive officer, and 1 or more persons as authorised by the board.

s 17 12 s 17 Government Owned Corporations (QTSC Restructure—Stage 1) Regulation 1997 ˙ Authentication of documents 17. A document made by a retail corporation (other than a document required by law to be sealed) is sufficiently authenticated if it is signed by— (a) the chairperson of the retail corporation’s interim board of directors; or (b) the retail corporation’s chief executive officer; or (c) a person authorised to sign the document by— (i) resolution of the board; or (ii) direction of the chief executive officer.

13 Government Owned Corporations (QTSC Restructure—Stage 1) Regulation 1997 † ENDNOTES ´ 1 Index to endnotes Page 2 Date to which amendments incorporated . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 3 Key . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 4 List of legislation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 5 List of annotations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 ´ 2 Date to which amendments incorporated This is the reprint date mentioned in the Reprints Act 1992, section 5(c). However, no amendments have commenced operation on or before that day. Future amendments of the Government Owned Corporations (QTSC Restructure—Stage 1) Regulation 1997 may be made in accordance with this reprint under the Reprints Act 1992, section 49. 3 ´ AIA amd ch def div exp gaz hdg ins lap notfd om o in c p para prec pres prev = = = = = = = = = = = = = = = = = = Key Key to abbreviations in list of legislation and annotations Acts Interpretation Act 1954 amended chapter definition division expires/expired gazette heading inserted lapsed notified omitted order in council page paragraph preceding present previous (prev) proc prov pt pubd R[X] RA reloc renum rep s sch sdiv SIA SL sub unnum = = = = = = = = = = = = = = = = = previously proclamation provision part published Reprint No.[X] Reprints Act 1992 relocated renumbered repealed section schedule subdivision Statutory Instruments Act 1992 subordinate legislation substituted unnumbered

14 Government Owned Corporations (QTSC Restructure—Stage 1) Regulation 1997 ´ 4 List of legislation Government Owned Corporations (QTSC Restructure—Stage 1) Regulation 1997 SL No. 130 notfd gaz 30 May 1997 pp 485–7 commenced on date of notification ´ 5 List of annotations PART 3—AMENDMENT OF REGULATION pt 3 (ss 18, 19) om R1 (see RA s 40) © State of Queensland 1997