Government Owned Corporations (QTSC Restructure-Stage 2) Regulation 1997
GOVERNMENT OWNED CORPORATIONS (QTSC RESTRUCTURE—STAGE 2)
REGULATION 1997
QueenslandGovernment Owned
Corporations Act 1993GOVERNMENTOWNEDCORPORATIONS(QTSCRESTRUCTURE—STAGE2)REGULATION1997Reprinted as in force on 27 September
2002(includes amendments up to SL No. 246 of
2002)Reprint No. 2This reprint is
prepared bythe Office of the Queensland Parliamentary
CounselWarning—This reprint is not an authorised
copyNOT FURTHER AMENDEDLAST REPRINT
BEFORE REPEALSee 2004 SL No. 166 s 44
Information about this reprintThisregulationisreprintedasat27September2002.
Thereprintshowsthelawasamended by all amendments that commenced on
or before that day (Reprints Act 1992s 5(c)).The
reprint includes a reference to the law by which each amendment was
made—see listof legislation and list of annotations in
endnotes.Minor editorial changes allowed under the
provisions of the Reprints Act 1992 mentionedin the following
list have also been made to—•reorder definitions consistent with current
drafting practice (s 30)•use aspects of
format and printing style consistent with current drafting
practice(s 35).This page is
specific to this reprint. See previous reprints for information
about earlierchanges made under the Reprints Act 1992. A
table of reprints is included in the endnotes.Also see endnotes
for information about—•when provisions
commenced•editorial changes made in earlier
reprints.Dates shown on reprintsReprints dated at
last amendmentAll reprints produced on or after 1 July
2002, hardcopy and electronic, are dated as at the last
date of amendment. Previously reprints weredated as at the
date of publication. If a hard copy reprint is dated earlier than
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s13s3Government Owned Corporations (QTSCRestructure—Stage 2) Regulation 1997GOVERNMENT OWNED CORPORATIONS(QTSC RESTRUCTURE—STAGE 2)REGULATION 1997[as amended by
all amendments that commenced on or before 27 September
2002]PART 1—PRELIMINARY1Short
titleThis regulation may be cited as theGovernmentOwnedCorporations(QTSC
Restructure—Stage 2) Regulation 1997.2Commencement(1)Part
3 commences on 30 June 1997.(2)Parts
4 to 10 and schedule 1 commence on 1 July 1997.(3)Part
11 commences on 2 July 1997.3PurposeThe purpose of
this regulation is—(a)to divest certain assets from, and
release certain liabilities of, theregional
corporations and QTSC; and(b)toprovideforatransitionfromtheregionalcorporationsandQTSC
to the retail corporations; and(c)to
transfer the assets and liabilities mentioned in paragraph (a)
tothe retail corporations; and(d)to declare that each regional
corporation and QETC is a GOC (astatutory GOC);
and(e)to nominate each statutory GOC as a
candidate GOC that is tobecome a company GOC; and
s44s6Government Owned Corporations (QTSCRestructure—Stage 2) Regulation 1997(f)to declare that each candidate GOC
that is to become a companyGOC is a GOC (a company GOC);
and(g)to declare each retail corporation to
be a subsidiary of 1 or morecompany GOCs;
and(h)to change the name of QTSC.4DictionaryThedictionaryinschedule2definesparticularwordsusedinthisregulation.PART
2—PREPARATORY MATTERS5Share capital for
retail corporationsOn the commencement of this section—(a)CERC is taken to have a share capital
of $400 000 000 made upof 400 000 000 ordinary shares of $1
each; and(b)NERC is taken to have a share capital
of $400 000 000 made upof 400 000 000 ordinary shares of $1
each; and(c)SERC is taken to have a share capital
of $750 000 000 made upof 750 000 000 ordinary shares of $1
each.6Division of share capital for regional
corporations and QETC(1)ThissectionismadeundertheGovernmentOwnedCorporations(Statutory GOC
Subsidiaries) Regulation 1994, schedule,
section 75.1(2)For CEC—(a)the share capital of 700 000 000
ordinary shares of $1 each isdivided into 4
voting (A class) shares of $1 each and 699 999 996non-voting (B class) shares of $1 each;
and1Section 75 (Variation of share
capital)
s65s6Government Owned Corporations (QTSCRestructure—Stage 2) Regulation 1997(b)the 310 000 000 ordinary shares of $1
each that have been issuedaredividedinto4voting(Aclass)sharesof$1eachand309 999 996 non-voting (B class)
shares of $1 each.(3)For FNQEC—(a)the
share capital of 500 000 000 ordinary shares of $1 each isdivided into 6 voting (A class) shares of $1
each and 499 999 994non-voting (B class) shares of $1 each;
and(b)the 180 000 000 ordinary shares of $1
each that have been issuedaredividedinto6voting(Aclass)sharesof$1eachand179 999 994 non-voting (B class)
shares of $1 each.(4)For MEC—(a)the
share capital of 500 000 000 ordinary shares of $1 each isdivided into 4 voting (A class) shares of $1
each and 499 999 996non-voting (B class) shares of $1 each;
and(b)the 106 000 000 ordinary shares of $1
each that have been issuedaredividedinto4voting(Aclass)sharesof$1eachand105 999 996 non-voting (B class)
shares of $1 each.(5)For NQEC—(a)the
share capital of 500 000 000 ordinary shares of $1 each isdivided into 2 voting (A class) shares of $1
each and 499 999 998non-voting (B class) shares of $1 each;
and(b)the 221 000 000 ordinary shares of $1
each that have been issuedaredividedinto2voting(Aclass)sharesof$1eachand220 999 998 non-voting (B class)
shares of $1 each.(6)For QETC—(a)the
share capital of 2 000 000 000 ordinary shares of $1 each isdividedinto2voting(Aclass)sharesof$1eachand1 999 999 998 non-voting (B class)
shares of $1 each; and(b)the 800 000 000
ordinary shares of $1 each that have been issuedaredividedinto2voting(Aclass)sharesof$1eachand799 999 998 non-voting (B class)
shares of $1 each.(7)For SEQEC—(a)the
share capital of 3 000 000 000 ordinary shares of $1 each isdividedinto6voting(Aclass)sharesof$1eachand2 999 999 994 non-voting (B class)
shares of $1 each; and
s76s7Government Owned Corporations (QTSCRestructure—Stage 2) Regulation 1997(b)the1335000000ordinarysharesof$1eachthathavebeenissued are divided into 6 voting (A class)
shares of $1 each and1 334 999 994 non-voting (B class)
shares of $1 each.(8)For SWQEC—(a)the
share capital of 500 000 000 ordinary shares of $1 each isdivided into 4 voting (A class) shares of $1
each and 499 999 996non-voting (B class) shares of $1 each;
and(b)the 220 000 000 ordinary shares of $1
each that have been issuedaredividedinto4voting(Aclass)sharesof$1eachand219 999 996 non-voting (B class)
shares of $1 each.(9)For WBBEC—(a)the
share capital of 500 000 000 ordinary shares of $1 each isdivided into 4 voting (A class) shares of $1
each and 499 999 996non-voting (B class) shares of $1 each;
and(b)the 160 000 000 ordinary shares of $1
each that have been issuedaredividedinto4voting(Aclass)sharesof$1eachand159 999 996 non-voting (B class)
shares of $1 each.PART 3—REGIONAL CORPORATIONS AND QTSC
AREDIVESTED OF RBU AND GET ASSETS AND
RELEASEDFROM RBU AND GET LIABILITIES7Regional corporation and QTSC assets
and liabilities(1)This section takes effect immediately
after 30 June 1997.(2)The regional corporations are divested
of all RBU assets and releasedfrom all RBU
liabilities.(3)QTSCisdivestedofallGETassetsandreleasedfromallGETliabilities.
s
87s 10Government Owned
Corporations (QTSCRestructure—Stage 2) Regulation 1997PART
4—TRANSITION TO RETAIL CORPORATIONS8Application of Act, s 54A to retail
corporations(1)This section is made under
54A(1)(b)(iv)2of the Act.(2)Section 54A of the Act applies to each
retail corporation.9CERC as successor(1)CERC
is the successor in law of each of CEC, SWQEC, WBBECand
QTSC.(2)Subsection (1) applies subject to the
operation of this regulation.(3)In
subsection (1)—“CEC”means Capricornia Electricity
Corporation, but only in relation toRBU(CEC),includingtotheextentoftheresponsibilitiesofRBU(CEC), immediately before the
corporatisation day.“QTSC”meansQueenslandTransmissionandSupplyCorporation,butonly
in relation to GET2, including to the extent of the
responsibilitiesof GET2, immediately before the
corporatisation day.“SWQEC”meansSouthWestQueenslandElectricityCorporation,butonlyinrelationtoRBU(SWQEC),includingtotheextentoftheresponsibilitiesofRBU(SWQEC),immediatelybeforethecorporatisation day.“WBBEC”means Wide
Bay-Burnett Electricity Corporation, but only inrelationtoRBU(WBBEC),includingtotheextentoftheresponsibilitiesofRBU(WBBEC),immediatelybeforethecorporatisation day.10NERC as successor(1)NERC
is the successor in law of each of FNQEC, MEC, NQEC andQTSC.(2)Subsection (1)
applies subject to the operation of this regulation.2Section 54A (Transfer of assets,
liabilities etc. to government entity to become GOCor
GOC subsidiary) of the Act
s
118s 12Government Owned
Corporations (QTSCRestructure—Stage 2) Regulation 1997(3)In subsection (1)—“FNQEC”means
Far North Queensland Electricity Corporation, but onlyinrelationtoRBU(FNQEC),includingtotheextentoftheresponsibilitiesofRBU(FNQEC),immediatelybeforethecorporatisation day.“MEC”meansMackayElectricityCorporation,butonlyinrelationtoRBU(MEC),includingtotheextentoftheresponsibilitiesofRBU(MEC), immediately before the
corporatisation day.“NQEC”meansNorthQueenslandElectricityCorporation,butonlyinrelation to
RBU(NQEC), including to the extent of the responsibilitiesof
RBU(NQEC), immediately before the corporatisation day.“QTSC”meansQueenslandTransmissionandSupplyCorporation,butonly
in relation to GET3, including to the extent of the
responsibilitiesof GET3, immediately before the
corporatisation day.11SERC as successor(1)SERC
is the successor in law of each of SEQEC and QTSC.(2)Subsection (1) applies subject to the
operation of this regulation.(3)In
subsection (1)—“QTSC”meansQueenslandTransmissionandSupplyCorporation,butonly
in relation to GET1, including to the extent of the
responsibilitiesof GET1, immediately before the
corporatisation day.“SEQEC”means South East
Queensland Electricity Corporation, but onlyinrelationtoRBU(SEQEC),includingtotheextentoftheresponsibilitiesofRBU(SEQEC),immediatelybeforethecorporatisation day.12Instruments about QTSC(1)Thissectionappliestoaninstrument(otherthanastatutoryinstrument) in existence immediately before
the corporatisation day.(2)An instrument
applying to QTSC (including under section 17(2)3oftheQTSCCorporatisationRegulation)forthepurposesofaGETisto3Section 17
(Instruments about CBU) of the QTSC Corporatisation
Regulation
s
129s 12Government Owned
Corporations (QTSCRestructure—Stage 2) Regulation 1997apply
to the GET’s corresponding retail corporation in place of QTSC
tothe extent that it applied for the purposes
of the GET.4(3)Without limiting
subsection (2)—(a)an instrument to which, immediately
before the corporatisationday, QTSC was (including under section
17(3)(a) of the QTSCCorporatisation Regulation) a party for the
purposes of a GET, istakentobeaninstrumenttowhichtheGET’scorrespondingretail
corporation is a party in the same way QTSC was a partyfor
the purposes of the GET; and(b)aninstrumentgiven(includingundersection17(3)(b)oftheQTSC
Corporatisation Regulation) to, by or in favour of QTSCfor
the purposes of a GET is taken to be an instrument given to,by or
in favour of the GET’s corresponding retail corporation inthe
way it was given to, by or in favour of QTSC for the
purposesof the GET; and(c)aninstrumentinwhichareferenceismade(includingundersection17(3)(c)oftheQTSCCorporatisationRegulation)toQTSCforthepurposesofaGET(including,forexample,aninstrument to which QTSC was a party for the
purposes of theGET) is taken to be an instrument in which
the reference is madetotheGET’scorrespondingretailcorporationinthewaythereference was made to QTSC for the purposes
of the GET; and(d)an instrument under which an amount is
or may become payable(including under section 17(3)(d) of
the QTSC CorporatisationRegulation) to or by QTSC for the
purposes of a GET is taken tobeaninstrumentunderwhichtheamountisormaybecomepayable to or by the GET’s corresponding
retail corporation inthe way the amount was or might have
become payable to or byQTSC for the purposes of the GET;
and(e)aninstrumentunderwhichotherpropertyistobe,ormaybecomeliabletobe(includingundersection17(3)(e)oftheQTSCCorporatisationRegulation),transferred,conveyedorassigned to or by QTSC for the
purposes of a GET is taken to bean instrument
under which the other property is to be, or maybecome liable to
be, transferred, conveyed or assigned to or by4Under
this provision, it is possible that an instrument that previously
applied toQTSC alone could apply to 2 or more of CERC,
NERC and SERC.
s
1310s 13Government Owned
Corporations (QTSCRestructure—Stage 2) Regulation 1997theGET’scorrespondingretailcorporationinthewaythepropertywastobe,ormighthavebecomeliabletobe,transferred,
conveyed or assigned to or by QTSC for the purposesof
the GET.13Instruments about regional
corporations(1)Thissectionappliestoaninstrument(otherthanastatutoryinstrument) in existence immediately before
the corporatisation day.(2)An instrument
applying to a regional corporation (including undersection 19(3)5of
the QTSC Corporatisation Regulation) for the purposes ofan RBU
is to apply to the RBU’s corresponding retail corporation in
placeof the regional corporation to the extent
that it applied for the purposes ofthe RBU.(3)Without limiting subsection
(2)—(a)an instrument to which, immediately
before the corporatisationday, a regional corporation was
(including under section 19(4)(a)oftheQTSCCorporatisationRegulation)apartyforthepurposes of an RBU, is taken to be an
instrument to which theRBU’scorrespondingretailcorporationisapartyinthesameway the regional
corporation was a party for the purposes of theRBU; and(b)aninstrumentgiven(includingundersection19(4)(b)oftheQTSCCorporatisationRegulation)to,byorinfavourofaregional corporation for the purposes
of an RBU is taken to be aninstrument given to, by or in favour
of the RBU’s correspondingretail corporation in the way it was
given to, by or in favour ofthe regional
corporation for the purposes of the RBU; and(c)aninstrumentinwhichareferenceismade(includingundersection19(4)(c)oftheQTSCCorporatisationRegulation)toaregional corporation for the purposes
of an RBU (including, forexample, an instrument to which the
regional corporation was aparty for the purposes of the RBU) is
taken to be an instrument inwhich the
reference is made to the RBU’s corresponding retail5Section19(InstrumentsaboutCBUsubsidiaries)oftheQTSCCorporatisationRegulation
s
1411s 15Government Owned
Corporations (QTSCRestructure—Stage 2) Regulation 1997corporation in the way the reference was
made to the regionalcorporation for the purposes of the RBU;
and(d)an instrument under which an amount is
or may become payable(including under section 19(4)(d) of
the QTSC CorporatisationRegulation) to or by a regional
corporation for the purposes of anRBU is taken to
be an instrument under which the amount is ormaybecomepayabletoorbytheRBU’scorrespondingretailcorporation in the way the amount was or
might have becomepayable to or by the regional corporation
for the purposes of theRBU; and(e)aninstrumentunderwhichotherpropertyistobe,ormaybecomeliabletobe(includingundersection19(4)(e)oftheQTSCCorporatisationRegulation),transferred,conveyedorassigned to or by a regional
corporation for the purposes of anRBU is taken to
be an instrument under which the other propertyistobe,ormaybecomeliabletobe,transferred,conveyedorassigned to or by the RBU’s
corresponding retail corporation inthe way the
property was to be, or might have become liable tobe,transferred,conveyedorassignedtoorbytheregionalcorporation for
the purposes of the RBU.14EmployeesFor
the avoidance of doubt, it is declared that a person who,
immediatelybeforethecorporatisationday,wasanemployeeofQTSCoraregionalcorporation does
not, under this regulation, become an employee of a retailcorporation.15Pending proceedingsDespite anything
else in this part—(a)a proceeding by or against QTSC,
whether or not arising out ofacts or omissions
of QTSC for the purposes of a GET, that is notfinishedbeforethecorporatisationdaymustbecontinuedandfinished by or against QTSC; and(b)a proceeding by or against a regional
corporation, whether or notarising out of acts or omissions of
the regional corporation forthepurposesofanRBU,thatisnotfinishedbeforethe
s
1612s 17Government Owned
Corporations (QTSCRestructure—Stage 2) Regulation 1997corporatisation day must be continued and
finished by or againstthe regional corporation.PART
5—TRANSFER OF ASSETS AND LIABILITIES16Transfer of assets and liabilities to retail
corporations(1)The assets mentioned in section 7(2)
and (3)6become—(a)iftheyareRBU(CEC),RBU(SWQEC),RBU(WBBEC)orGET2 assets—the assets of CERC;
and(b)if they are RBU(FNQEC), RBU(MEC),
RBU(NQEC) or GET3assets—the assets of NERC; and(c)if they are RBU(SEQEC) or GET1
assets—the assets of SERC.(2)The liabilities
mentioned in section 7(2) and (3) are assumed—(a)iftheyareRBU(CEC),RBU(SWQEC),RBU(WBBEC)orGET2 liabilities—by CERC; and(b)if they are RBU(FNQEC), RBU(MEC),
RBU(NQEC) or GET3liabilities—by NERC; and(c)if
they are RBU(SEQEC) or GET1 liabilities—by SERC.17Consideration for transfer of assets
to CERC(1)The assumption of liabilities by CERC
under section 16(2) is part ofthe consideration
for the transfer of assets to CERC under section 16(1).(2)The remainder of the consideration is
the creation of—(a)a debt owed by CERC to CEC; and(b)a debt owed by CERC to SWQEC;
and(c)a debt owed by CERC to WBBEC;
and(d)a debt owed by CERC to QTSC.6Section 7 (Regional corporation and
QTSC assets and liabilities)
s
1713s 17Government Owned
Corporations (QTSCRestructure—Stage 2) Regulation 1997(3)The amount of the debt owed—(a)to CEC, is the market value, at 1 July
1997, of the assets shownin the CEC asset schedule as the
assets of RBU(CEC), less—(i)the amount, at 1
July 1997, of the liabilities shown in theCEC balance sheet
as the liabilities of RBU(CEC); and(ii)anyamountthatCERC’sresponsibleMinistersdirectCERC, under
section 58(2)7of the Act, to apply in payingup
shares in itself for issue to CEC; and(b)toSWQEC,isthemarketvalue,at1July1997,oftheassetsshownintheSWQECassetscheduleastheassetsofRBU(SWQEC), less—(i)the
amount, at 1 July 1997, of the liabilities shown in theSWQEC
balance sheet as the liabilities of RBU(SWQEC);and(ii)anyamountthatCERC’sresponsibleMinistersdirectCERC, under
section 58(2) of the Act, to apply in paying upshares in itself
for issue to SWQEC; and(c)to WBBEC,isthemarketvalue,at1July1997,oftheassetsshownintheWBBECassetscheduleastheassetsofRBU(WBBEC), less—(i)the
amount, at 1 July 1997, of the liabilities shown in theWBBEC
balance sheet as the liabilities of RBU(WBBEC);and(ii)anyamountthatCERC’sresponsibleMinistersdirectCERC, under
section 58(2) of the Act, to apply in paying upshares in itself
for issue to WBBEC; and(d)to QTSC, is the
market value, at 1 July 1997, of the assets shownin
the GET2 asset schedule, less the amount, at 1 July 1997, ofthe
liabilities shown in the GET2 balance sheet.(4)For
subsection (3)—(a)the market value, at 1 July 1997, of
an asset is, unless anothervaluation is decided under subsection
(6), taken to be the marketvalueshownfortheassetintheCEC,SWQEC,WBBECor7Section 58 (Share
capital and issue of shares) of the Act
s
1714s 17Government Owned
Corporations (QTSCRestructure—Stage 2) Regulation 1997GET2assetscheduleforthedayimmediatelybeforethecorporatisation day; and(b)theamount,at1July1997,ofaliabilityis,unlessanotheramount is decided under subsection (6),
taken to be the amountshown for the liability in the CEC,
SWQEC, WBBEC or GET2balance sheet for the day immediately before
the corporatisationday.(5)As soon as
practicable after the commencement of this section—(a)CEC must complete the CEC asset
schedule and CEC balancesheet; and(b)SWQECmustcompletetheSWQECassetscheduleandSWQEC
balance sheet; and(c)WBBECmustcompletetheWBBECassetscheduleandWBBEC
balance sheet; and(d)QTSCmustcompletetheGET2assetscheduleandGET2balance
sheet.(6)An asset schedule or balance sheet
mentioned in subsection (5) maybe changed at any
time not later than 30 June 1998 to correct the marketvalueofanassetortheamountofaliabilityasatthedayimmediatelybefore the
corporatisation day by—(a)ifitisanassetscheduleorbalancesheetmentionedinsubsection (5)(a)—the shareholding Ministers
of CEC once CECbecomes a GOC (whether a statutory GOC or
company GOC); or(b)ifitisanassetscheduleorbalancesheetmentionedinsubsection (5)(b)—the shareholding Ministers
of SWQEC onceSWQEC becomes a GOC (whether a statutory GOC
or companyGOC); or(c)ifitisanassetscheduleorbalancesheetmentionedinsubsection (5)(c)—the shareholding Ministers
of WBBEC, onceWBBEC becomes a GOC (whether a statutory GOC
or companyGOC); or(d)ifitisanassetscheduleorbalancesheetmentionedinsubsection (5)(d)—the shareholding Ministers
of QTSC.(7)A change mentioned in subsection (6)
must be taken into account forcalculating the
debt amount under subsection (3).
s
1815s 18Government Owned
Corporations (QTSCRestructure—Stage 2) Regulation 199718Consideration for transfer of assets
to NERC(1)The assumption of liabilities by NERC
under section 16(2) is part ofthe consideration
for the transfer of assets to NERC under section 16(1).(2)The remainder of the consideration is
the creation of—(a)a debt owed by NERC to FNQEC;
and(b)a debt owed by NERC to MEC; and(c)a debt owed by NERC to NQEC;
and(d)a debt owed by NERC to QTSC.(3)The amount of the debt owed—(a)toFNQEC,isthemarketvalue,at1July1997,oftheassetsshownintheFNQECassetscheduleastheassetsofRBU(FNQEC), less—(i)the
amount, at 1 July 1997, of the liabilities shown in theFNQECbalancesheetastheliabilitiesofRBU(FNQEC);and(ii)anyamountthatNERC’sresponsibleMinistersdirectNERC, under
section 58(2) of the Act, to apply in paying upshares in itself
for issue to FNQEC; and(b)to MEC, is the
market value, at 1 July 1997, of the assets shownin
the MEC asset schedule as the assets of RBU(MEC), less—(i)the amount, at 1 July 1997, of the
liabilities shown in theMEC balance sheet as the liabilities
of RBU(MEC); and(ii)anyamountthatNERC’sresponsibleMinistersdirectNERC, under
section 58(2) of the Act, to apply in paying upshares in itself
for issue to MEC; and(c)to NQEC, is the
market value, at 1 July 1997, of the assets shownin
the NQEC asset schedule as the assets of RBU(NQEC), less—(i)the amount, at 1 July 1997, of the
liabilities shown in theNQEC balance sheet as the liabilities
of RBU(NQEC); and(ii)anyamountthatNERC’sresponsibleMinistersdirectNERC, under
section 58(2) of the Act, to apply in paying upshares in itself
for issue to NQEC; and
s
1816s 18Government Owned
Corporations (QTSCRestructure—Stage 2) Regulation 1997(d)to QTSC, is the market value, at 1
July 1997, of the assets shownin the GET3 asset
schedule, less the amount, at 1 July 1997, ofthe liabilities
shown in the GET3 balance sheet.(4)For
subsection (3)—(a)the market value, at 1 July 1997, of
an asset is, unless anothervaluation is decided under subsection
(6), taken to be the marketvalue shown for the asset in the
FNQEC, MEC, NQEC or GET3asset schedule for the day immediately
before the corporatisationday; and(b)theamount,at1July1997,ofaliabilityis,unlessanotheramount is decided under subsection (6),
taken to be the amountshownfortheliabilityintheFNQEC,MEC,NQECorGET3balance sheet for the day immediately before
the corporatisationday.(5)As soon as
practicable after the commencement of this section—(a)FNQEC must complete the FNQEC asset
schedule and FNQECbalance sheet; and(b)MEC
must complete the MEC asset schedule and MEC balancesheet; and(c)NQECmustcompletetheNQECassetscheduleandNQECbalance sheet; and(d)QTSCmustcompletetheGET3assetscheduleandGET3balance sheet.(6)An
asset schedule or balance sheet mentioned in subsection (5)
maybe changed at any time not later than 30 June
1998 to correct the marketvalueofanassetortheamountofaliabilityasatthedayimmediatelybefore the
corporatisation day by—(a)ifitisanassetscheduleorbalancesheetmentionedinsubsection (5)(a)—theshareholdingMinistersofFNQEConceFNQEC
becomes a GOC (whether a statutory GOC or companyGOC);
or(b)ifitisanassetscheduleorbalancesheetmentionedinsubsection (5)(b)—theshareholdingMinistersofMEConceMECbecomesaGOC(whetherastatutoryGOCorcompanyGOC);
or
s
1917s 19Government Owned
Corporations (QTSCRestructure—Stage 2) Regulation 1997(c)ifitisanassetscheduleorbalancesheetmentionedinsubsection (5)(c)—theshareholdingMinistersofNQEC,onceNQEC
becomes a GOC (whether a statutory GOC or companyGOC);
or(d)ifitisanassetscheduleorbalancesheetmentionedinsubsection (5)(d)—the shareholding Ministers
of QTSC.(7)A change mentioned in subsection (6)
must be taken into account forcalculating the
debt amount under subsection (3).19Consideration for transfer of assets to
SERC(1)The assumption of liabilities by SERC
under section 16(2) is part ofthe consideration
for the transfer of assets to SERC under section 16(1).(2)The remainder of the consideration is
the creation of—(a)a debt owed by SERC to SEQEC;
and(b)a debt owed by SERC to QTSC.(3)The amount of the debt owed—(a)toSEQEC,isthemarketvalue,at1July1997,oftheassetsshownintheSEQECassetscheduleastheassetsofRBU(SEQEC), less—(i)the
amount, at 1 July 1997, of the liabilities shown in theSEQECbalancesheetastheliabilitiesofRBU(SEQEC);and(ii)anyamountthatSERC’sresponsibleMinistersdirectSERC, under
section 58(2) of the Act, to apply in paying upshares in itself
for issue to SEQEC; and(b)to QTSC, is the
market value, at 1 July 1997, of the assets shownin
the GET1 asset schedule, less the amount, at 1 July 1997, ofthe
liabilities shown in the GET1 balance sheet.(4)For
subsection (3)—(a)the market value, at 1 July 1997, of
an asset is, unless anothervaluation is decided under subsection
(6), taken to be the marketvalue shown for the asset in the SEQEC
or GET1 asset schedulefor the day immediately before the
corporatisation day; and
s
2018s 20Government Owned
Corporations (QTSCRestructure—Stage 2) Regulation 1997(b)theamount,at1July1997,ofaliabilityis,unlessanotheramount is decided under subsection (6),
taken to be the amountshown for the liability in the SEQEC
or GET1 balance sheet forthe day immediately before the
corporatisation day.(5)As soon as practicable after the
commencement of this section—(a)SEQEC
must complete the SEQEC asset schedule and SEQECbalance sheet; and(b)QTSCmustcompletetheGET1assetscheduleandGET1balance sheet.(6)An
asset schedule or balance sheet mentioned in subsection (5)
maybe changed at any time not later than 30 June
1998 to correct the marketvalueofanassetortheamountofaliabilityasatthedayimmediatelybefore the
corporatisation day by—(a)ifitisanassetscheduleorbalancesheetmentionedinsubsection (5)(a)—theshareholdingMinistersofSEQEConceSEQEC
becomes a GOC (whether a statutory GOC or companyGOC);
or(b)ifitisanassetscheduleorbalancesheetmentionedinsubsection (5)(b)—the shareholding Ministers
of QTSC.(7)A change mentioned in subsection (6)
must be taken into account forcalculating the
debt amount under subsection (3).20QTSC
asset schedule and balance sheetAs soon as
practicable after the commencement of this section, QTSCmust
complete the QTSC asset schedule and QTSC balance sheet.88Under sections
17(5)(d), 18(5)(d) and 19(5)(b), QTSC is required to complete
theGET1, GET2 and GET3 asset schedules and
balance sheets. These asset schedulesand balance
sheets form part, but not the whole, of the QTSC asset schedule
andbalance sheet.
s
2119s 22Government Owned
Corporations (QTSCRestructure—Stage 2) Regulation 1997PART
6—REGIONAL CORPORATIONS BECOMESTATUTORY GOCs
AND RETAIL CORPORATIONSBECOME STATUTORY GOC
SUBSIDIARIES21Declaration of GOCs and
subsidiaries(1)Subsections (2) to (6) take effect as
soon as the assets and liabilitiesmentioned in
section 7(2)9and (3) become, under section
16,10the assetsand liabilities of
the retail corporations.(2)Each regional
corporation is a GOC.(3)QETC is a
GOC.(4)CERC is a subsidiary of each of CEC,
SWQEC and WBBEC.(5)NERC is a subsidiary of each of FNQEC,
MEC and NQEC.(6)SERC is a subsidiary of SEQEC.PART
7—FUNCTIONS OF RETAIL CORPORATIONS,REGIONAL
CORPORATIONS, QETC AND QTSC22When part takes
effectThis part takes effect when the regional
corporations and QETC becomeGOCs.9Section 7 (Regional corporation and
QTSC assets and liabilities)10Section 16 (Transfer of assets and
liabilities to retail corporations)
s
2620s 26Government Owned
Corporations (QTSCRestructure—Stage 2) Regulation 199726Functions of QPTC(1)QPTC’s11functions are—(a)managing QPTC’s obligations under each
exempted generationagreement; and(b)operatingasagenerator,undertheCode,inrelationtotheexempted generation agreements;
and(c)managing the sale of electricity,
purchased by QPTC under theexempted generation agreements, in the
market; and(d)managing the risks associated with
QPTC’s obligations under theexempted
generation agreements, including, for example—(i)acquiring,holdinganddealingwithassetsforgeneratingelectricity;
and(ii)dealing in instruments that minimise
the risks; and(e)selling electricity to Boyne Smelters
Limited ACN 010 061 935for the conduct of its operations at
Boyne Island; and(f)selling electricity generated by the
Somerset Dam hydro-electricgenerating plant to Energex Retail Pty
Ltd ACN 078 848 549;and(g)meeting QPTC’s
obligations under transaction documents undertheGladstonePowerStationAgreementAct1993,andotherdocumentsassociatedwiththeacquisition,maintenanceandoperation of the Gladstone power station;
and(h)dealing with any assets or liabilities
transferred to QPTC underan Act; and(i)meetingQPTC’sobligationsinrelationtothedevelopment,ownershipandoperationofagas-firedpowerstationnear11Under theGovernment Owned
Corporations (Queensland Transmission and SupplyCorporation)Regulation1994,section4,QTSCwasestablished.UndertheGovernment Owned Corporations (QTSC
Restructure—Stage 2) Regulation 1997,section30(1),QTSC’snamewaschangedtoQueenslandTransitionalPowerTradingCorporation.UndertheGovernmentOwnedCorporations(QTSCRestructure—Stage 2) Regulation 1997,
section 30(1A), Queensland TransitionalPower
TradingCorporation’snamewaschangedtoQueenslandPower
TradingCorporation. This section was inserted after
the second-mentioned change of name.
s
2721s 27Government Owned
Corporations (QTSCRestructure—Stage 2) Regulation 1997Townsvilleandotherassetsassociatedwiththedevelopment,ownership and
operation of the power station; and(j)any
other functions given to QPTC under this regulation or underanother Act.(2)In
this section—“Code”see section 3 of
the National Electricity (Queensland) Law.“exempted
generation agreement”hasthemeaninggiveninpartEofchapter 9 of the Code.“market”has the meaning
given in chapter 10 of the Code.PART
8—NOMINATION OF REGIONALCORPORATIONS AND QETC AS CANDIDATE
GOCsTHAT ARE TO BECOME COMPANY GOCs27Nomination of regional corporations
and QETC(1)Subsections(2)and(3)takeeffectimmediatelyaftertheregionalcorporations and
QETC become GOCs under section 21.12(2)Each regional corporation is nominated
to be a candidate GOC that isto become a
company GOC.(3)QETCisnominatedtobeacandidateGOCthatistobecomeacompany GOC.12Section 21 (Declaration of GOCs and
subsidiaries)
s
2822s 30Government Owned
Corporations (QTSCRestructure—Stage 2) Regulation 1997PART
9—REGIONAL CORPORATIONS AND QETCBECOME COMPANY
GOCs28Declaration of each regional
corporation and QETC as GOC(1)Subsection (2)
takes effect for a former subsidiary as soon as both ofthe
following apply to the former subsidiary—(a)theformersubsidiaryisacandidateGOCthatistobecomeacompany GOC;(b)theformersubsidiaryisapubliccompany,andacompanylimited by
shares, within the meaning of the Corporations Law.(2)The former subsidiary is a GOC.(3)As soon as practicable after a former
subsidiary becomes a companyGOCundersubsection(2),theshareholdingMinistersforthecompanyGOC
the former subsidiary has become must, by gazette notice, advise
thedate on which the entity became registered
under part 2.2, division 3 of theCorporations
Law.(4)In this section—“former
subsidiary”means a regional corporation or QETC.PART
11—CHANGE OF NAME30Changes of name of GOC(1)QTSC’s name is changed to Queensland
Transitional Power TradingCorporation.(1A)On30June1999,QueenslandTransitionalPowerTradingCorporation’s name
is changed to Queensland Power Trading Corporation.(2)The change of name under subsection
(1) and the further change ofname under
subsection (1A) do not affect the legal personality of the
entitywhose name is changed.
s
3023s 30Government Owned
Corporations (QTSCRestructure—Stage 2) Regulation 1997(3)Unlessacontraryintentionappears,areferenceinanActordocument to the entity by a former name is
taken to be a reference to theentity by its new
name.
24Government Owned Corporations
(QTSCRestructure—Stage 2) Regulation 1997SCHEDULE 2DICTIONARYsection 4“CEC”means Capricornia Electricity
Corporation.“CEC asset schedule”means a schedule
prepared under this regulationshowing assets of
CEC immediately before the corporatisation day.“CECbalancesheet”meansabalancesheetpreparedunderthisregulationshowingliabilitiesofCECimmediatelybeforethecorporatisation day.“CERC”means Central
Electricity Retail Corporation.“corporatisation
day”means 1 July 1997.“corresponding
retail corporation”, for a GET, means—(a)for
GET1—SERC; and(b)for GET2—CERC; and(c)for
GET3—NERC.“corresponding retail corporation”, for
an RBU, means—(a)for RBU(CEC)—CERC; and(b)for RBU(FNQEC)—NERC; and(c)for RBU(MEC)—NERC; and(d)for RBU(NQEC)—NERC; and(e)for RBU(SEQEC)—SERC; and(f)for RBU(SWQEC)—CERC; and(g)for RBU(WBBEC)—CERC.
25Government Owned Corporations
(QTSCRestructure—Stage 2) Regulation 1997SCHEDULE 2 (continued)“customer”see
Electricity Act, schedule 5.13“distribution entity”see Electricity
Act, schedule 5.14“Electricity Act”means theElectricity Act 1994.“FNQEC”means Far North
Queensland Electricity Corporation.“FNQEC asset
schedule”means a schedule prepared under this
regulationshowingassetsofFNQECimmediatelybeforethecorporatisationday.“FNQECbalancesheet”meansabalancesheetpreparedunderthisregulationshowingliabilitiesofFNQECimmediatelybeforethecorporatisation day.“generation entity”see Electricity
Act, schedule 5.15“GET1”meansthebusinessunitofQTSCknownasGroupEnergyTrader 1.“GET1
asset”means an asset that—(a)is
shown in the GET1 asset schedule; or13Electricity Act, schedule 5
(Dictionary)—“customer”see section 23(1)
or (1A).Electricity Act, section 23(1) or
(1A)—23 Types of customers(1)A“customer”is a person who
receives, or wants to receive, a supply ofelectricity from
an electricity entity or special approval holder.(1A)A“customer”includes a relevant body corporate.14Electricity Act, schedule 5—“distribution entity”see section
37.Electricity Act, section 37—37Distribution entitiesA“distribution entity”is a
person who holds a distribution authority.15Electricity Act, schedule 5—“generation entity”see section
25.Electricity Act, section 25—25Generation entitiesA“generation entity”is a
person who holds a generation authority.
26Government Owned Corporations
(QTSCRestructure—Stage 2) Regulation 1997SCHEDULE 2 (continued)(b)isnototherwiseshownintheQTSCassetschedule,butimmediately before the corporatisation day,
is an asset of QTSCheld for the purposes of GET1.“GET1assetschedule”meansthepartoftheQTSCassetscheduleshowing assets of GET1.“GET1 balance
sheet”means the part of the QTSC balance sheet
showingliabilities of GET1.“GET1
liability”means a liability that—(a)is
shown in the GET1 balance sheet; or(b)isnototherwiseshownintheQTSCbalancesheet,butimmediately before the corporatisation day,
is a liability to whichQTSC is subject for the purposes of
GET1.“GET2”meansthebusinessunitofQTSCknownasGroupEnergyTrader 2.“GET2
asset”means an asset that—(a)is
shown in the GET2 asset schedule; or(b)isnototherwiseshownintheQTSCassetschedule,butimmediately before the corporatisation day,
is an asset of QTSCheld for the purposes of GET2.“GET2assetschedule”meansthepartoftheQTSCassetscheduleshowing assets of GET2.“GET2 balance
sheet”means the part of the QTSC balance sheet
showingliabilities of GET2.“GET2
liability”means a liability that—(a)is
shown in the GET2 balance sheet; or(b)isnototherwiseshownintheQTSCbalancesheet,butimmediately before the corporatisation day,
is a liability to whichQTSC is subject for the purposes of
GET2.“GET3”meansthebusinessunitofQTSCknownasGroupEnergyTrader 3.“GET3
asset”means an asset that—(a)is
shown in the GET3 asset schedule; or
27Government Owned Corporations
(QTSCRestructure—Stage 2) Regulation 1997SCHEDULE 2 (continued)(b)isnototherwiseshownintheQTSCassetschedule,butimmediately before the corporatisation day,
is an asset of QTSCheld for the purposes of GET3.“GET3assetschedule”meansthepartoftheQTSCassetscheduleshowing assets of GET3.“GET3 balance
sheet”means the part of the QTSC balance sheet
showingliabilities of GET3.“GET3
liability”means a liability that—(a)is
shown in the GET3 balance sheet; or(b)isnototherwiseshownintheQTSCbalancesheet,butimmediately before the corporatisation day,
is a liability to whichQTSC is subject for the purposes of
GET3.“GET”means GET1, GET2 or GET3.“GET
asset”means a GET1, GET2 or GET3 asset.“GET
liability”means a GET1, GET2 or GET3 liability.“MEC”means Mackay Electricity
Corporation.“MEC asset schedule”means a schedule
prepared under this regulationshowing assets of
MEC immediately before the corporatisation day.“MECbalancesheet”meansabalancesheetpreparedunderthisregulationshowingliabilitiesofMECimmediatelybeforethecorporatisation day.“NERC”means Northern
Electricity Retail Corporation.“NQEC”means
North Queensland Electricity Corporation.“NQEC asset
schedule”means a schedule prepared under this
regulationshowing assets of NQEC immediately before
the corporatisation day.“NQECbalancesheet”meansabalancesheetpreparedunderthisregulationshowingliabilitiesofNQECimmediatelybeforethecorporatisation day.“QETC”means Queensland
Electricity Transmission Corporation.“QPTC”means
Queensland Power Trading Corporation.“QTSC”means
Queensland Transmission and Supply Corporation.
28Government Owned Corporations
(QTSCRestructure—Stage 2) Regulation 1997SCHEDULE 2 (continued)“QTSC asset
schedule”means a schedule prepared under this
regulationshowing assets of QTSC immediately before
the corporatisation day.“QTSCbalancesheet”meansabalancesheetpreparedunderthisregulationshowingliabilitiesofQTSCimmediatelybeforethecorporatisation day.“QTSCCorporatisationRegulation”meanstheGovernmentOwnedCorporations (QTSC Corporatisation)
Regulation 1994.“RBU”meansRBU(CEC),RBU(FNQEC),RBU(MEC),RBU(NQEC),RBU(SEQEC),
RBU(SWQEC) or RBU(WBBEC).“RBUasset”meansanRBU(CEC),RBU(FNQEC),RBU(MEC),RBU(NQEC),RBU(SEQEC),RBU(SWQEC)orRBU(WBBEC)asset.“RBU(CEC)”means the part of
CEC known as its retail business unit.“RBU(CEC)
asset”means an asset that—(a)is
shown in the CEC asset schedule as an asset of RBU(CEC); or(b)isnototherwiseshownintheCECassetschedule,butimmediately before the corporatisation
day, is an asset of CECfor the purposes of RBU(CEC).“RBU(CEC) liability”means a liability
that—(a)is shown in the CEC balance sheet as a
liability of RBU(CEC); or(b)isnototherwiseshownintheCECbalancesheet,butimmediately before the corporatisation
day, is a liability to whichCEC is subject
for the purposes of RBU(CEC).“RBU(FNQEC)”means the part of
FNQEC known as its retail businessunit.“RBU(FNQEC) asset”means an asset
that—(a)isshownintheFNQECassetscheduleasanassetofRBU(FNQEC); or(b)isnototherwiseshownintheFNQECassetschedule,butimmediatelybeforethecorporatisationday,isanassetofFNQEC for the purposes of
RBU(FNQEC).“RBU(FNQEC) liability”means a liability
that—
29Government Owned Corporations
(QTSCRestructure—Stage 2) Regulation 1997SCHEDULE 2 (continued)(a)isshownintheFNQECbalancesheetasaliabilityofRBU(FNQEC); or(b)isnototherwiseshownintheFNQECbalancesheet,butimmediately before the corporatisation day,
is a liability to whichFNQEC is subject for the purposes of
RBU(FNQEC).“RBUliability”meansanRBU(CEC),RBU(FNQEC),RBU(MEC),RBU(NQEC),RBU(SEQEC),RBU(SWQEC)orRBU(WBBEC)liability.“RBU(MEC)”means the part of
MEC known as its retail business unit.“RBU(MEC)
asset”means an asset that—(a)is
shown in the MEC asset schedule as an asset of RBU(MEC);or(b)isnototherwiseshownintheMECassetschedule,butimmediately before the corporatisation
day, is an asset of MECfor the purposes of RBU(MEC).“RBU(MEC) liability”means a liability
that—(a)is shown in the MEC balance sheet as a
liability of RBU(MEC);or(b)isnototherwiseshownintheMECbalancesheet,butimmediately before the corporatisation day,
is a liability to whichMEC is subject for the purposes of
RBU(MEC).“RBU(NQEC)”means the part of
NQEC known as its retail business unit.“RBU(NQEC)
asset”means an asset that—(a)isshownintheNQECassetscheduleasanassetofRBU(NQEC); or(b)isnototherwiseshownintheNQECassetschedule,butimmediately before the corporatisation day,
is an asset of NQECfor the purposes of RBU(NQEC).“RBU(NQEC) liability”means a liability
that—(a)isshownintheNQECbalancesheetasaliabilityofRBU(NQEC); or
30Government Owned Corporations
(QTSCRestructure—Stage 2) Regulation 1997SCHEDULE 2 (continued)(b)isnototherwiseshownintheNQECbalancesheet,butimmediately before the corporatisation day,
is a liability to whichNQEC is subject for the purposes of
RBU(NQEC).“RBU(SEQEC)”means the part of
SEQEC known as its retail businessunit.“RBU(SEQEC) asset”means an asset
that—(a)isshownintheSEQECassetscheduleasanassetofRBU(SEQEC); or(b)isnototherwiseshownintheSEQECassetschedulebut,immediately before the corporatisation day,
is an asset of SEQECfor the purposes of RBU(SEQEC).“RBU(SEQEC) liability”means a liability
that—(a)isshownintheSEQECbalancesheetasaliabilityofRBU(SEQEC); or(b)isnototherwiseshownintheSEQECbalancesheet,butimmediately before the corporatisation day,
is a liability to whichSEQEC is subject for the purposes of
RBU(SEQEC).“RBU(SWQEC)”means the part of
SWQEC known as its retail businessunit.“RBU(SWQEC) asset”means an asset
that—(a)isshownintheSWQECassetscheduleasanassetofRBU(SWQEC); or(b)isnototherwiseshownintheSWQECassetschedule,butimmediatelybeforethecorporatisationday,isanassetofSWQEC for the purposes of
RBU(SWQEC).“RBU(SWQEC) liability”means a liability
that—(a)isshownintheSWQECbalancesheetasaliabilityofRBU(SWQEC); or(b)isnototherwiseshownintheSWQECbalancesheet,butimmediately before the corporatisation day,
is a liability to whichSWQEC is subject for the purposes of
RBU(SWQEC).
31Government Owned Corporations
(QTSCRestructure—Stage 2) Regulation 1997SCHEDULE 2 (continued)“RBU(WBBEC)”means the part of
WBBEC known as its retail businessunit.“RBU(WBBEC) asset”means an asset
that—(a)isshownintheWBBECassetscheduleasanassetofRBU(WBBEC); or(b)isnototherwiseshownintheWBBECassetschedule,butimmediatelybeforethecorporatisationday,isanassetofWBBEC for the purposes of
RBU(WBBEC).“RBU(WBBEC) liability”means a liability
that—(a)isshownintheWBBECbalancesheetasaliabilityofRBU(WBBEC); or(b)isnototherwiseshownintheWBBECbalancesheet,butimmediately before the corporatisation day,
is a liability to whichWBBEC is subject for the purposes of
RBU(WBBEC).“regionalcorporation”meansCEC,FNQEC,MEC,NQEC,SEQEC,SWQEC
or WBBEC.“retail corporation”means—(a)CERC; or(b)NERC;
or(c)SERC.“retail
entity”see Electricity Act, schedule 5.16“SEQEC”means South East
Queensland Electricity Corporation.“SEQEC asset
schedule”means a schedule prepared under this
regulationshowing assets of SEQEC immediately before
the corporatisation day.16Electricity Act,
schedule 5—“retail entity”see section
46.Electricity Act, section 46—46Retail entitiesA“retail entity”is a person who
holds a retail authority.
32Government Owned Corporations
(QTSCRestructure—Stage 2) Regulation 1997SCHEDULE 2 (continued)“SEQECbalancesheet”meansabalancesheetpreparedunderthisregulationshowingliabilitiesofSEQECimmediatelybeforethecorporatisation day.“SERC”means Southern
Electricity Retail Corporation.“supply
network”see Electricity Act, schedule 5.17“SWQEC”means South West
Queensland Electricity Corporation.“SWQECassetschedule”meansaschedulepreparedunderthisregulationshowingassetsofSWQECimmediatelybeforethecorporatisation day.“SWQECbalancesheet”meansabalancesheetpreparedunderthisregulationshowingliabilitiesofSWQECimmediatelybeforethecorporatisation day.“WBBEC”means Wide
Bay-Burnett Electricity Corporation.“WBBECassetschedule”meansaschedulepreparedunderthisregulationshowingassetsofWBBECimmediatelybeforethecorporatisation day.“WBBECbalancesheet”meansabalancesheetpreparedunderthisregulationshowingliabilitiesofWBBECimmediatelybeforethecorporatisation day.17Electricity Act, schedule 5—“supply network”see section
8.Electricity Act, section 8—8Supply networkA“supplynetwork”isasystem,orpartofasystem,ofelectriclines,substationsandassociatedequipment,otherthanatransmissiongrid,fordistributing electricity to customers,
whether or not generating plant is connected toit.
34Government Owned Corporations
(QTSCRestructure—Stage 2) Regulation 19974Table of reprintsReprints are
issued for both future and past effective dates.For
the most up-to-date tableof reprints, see the latest
reprint.Ifareprintnumberincludesaletterofthealphabet,thereprintwasreleasedinunauthorised, electronic form only.TABLE
OF REPRINTSReprintNo.11A1B1CAmendments includednoneto SL No. 390 of 1997to SL
No. 103 of 1999to SL No. 99 of 20001Dto SL
No. 246 of 20022to SL No. 246 of 2002EffectiveReprint
date2 July 199721 November
199730 June 19991 June
200027 September 200227 September
200219 August 19975 January
19985 November 199916 June
2000(Column discontinued)NotesR1D
withdrawn, see R25List of legislationGovernment Owned Corporations (QTSC
Restructure—Stage 2) Regulation 1997SL No. 168made
by the Governor in Council on 26 June 1997notfd gaz 26 June
1997 pp 899–900pt 3 commenced 30 June 1997 (see s
2(1))pts 4–10 sch 1 commenced 1 July 1997 (see s
2(2))pt 11 commenced 2 July 1997 (see s
2(3))remaining provisions commenced on date of
notificationexp 1 September 2007 (see SIA s 54)amending legislation—GovernmentOwnedCorporations(QTSCRestructure—Stage2)AmendmentRegulation (No.
1) 1997 SL No. 390notfd gaz 21 November 1997 pp 1294–5commenced on date of notificationGovernmentOwnedCorporations(ErgonCorporatisation)Regulation1999SL No. 103 ss 1–2, 8 schnotfd
gaz 10 June 1999 pp 579A–579Bss 1–2 commenced
on date of notificationremaining provisions commenced 30 June
1999 (see s 2)Government Owned Corporations (AUSTA Wind-up)
Regulation 2000 SL No. 99 s 1pt 8notfd
gaz 1 June 2000 pp 311–12commenced on date of
notification
