Queensland Training Assets Management Authority Regulation 2014

Queensland Queensland Training Assets Management Authority Act 2014 Queensland Training Assets Management Authority Regulation 2014 Current as at 1 July 2014 Reprint note This is the last reprint before lapse. Lapsed on 14 August 2015 by 2014 Act No. 25 s 223.

Information about this reprint This reprint shows the legislation current as at the date on the cover and is authorised by the Parliamentary Counsel. A new reprint of the legislation will be prepared by the Office of the Queensland Parliamentary Counsel when any change to the legislation takes effect. This change may be because a provision of the original legislation, or an amendment to it, commences or because a particular provision of the legislation expires or is repealed. When a new reprint is prepared, this reprint will become a historical reprint. Also, if it is necessary to replace this reprint before a new reprint is prepared, for example, to include amendments with a retrospective commencement, an appropriate note would be included on the cover of the replacement reprint and on the copy of this reprint at www.legislation.qld.gov.au. The endnotes to this reprint contain detailed information about the legislation and reprint. For example— • The table of reprints endnote lists any previous reprints and, for this reprint, gives details of any discretionary editorial powers under the Reprints Act 1992 used by the Office of the Queensland Parliamentary Counsel in preparing it. • The list of legislation endnote gives historical information about the original legislation and the legislation which amended it. It also gives details of uncommenced amendments to this legislation. For information about possible amendments to the legislation by Bills introduced in Parliament, see the Queensland Legislation Current Annotations at www.legislation.qld.gov.au/Leg_Info/ information.htm. • The list of annotations endnote gives historical information at section level. All Queensland reprints are dated and authorised by the Parliamentary Counsel. The previous numbering system and distinctions between printed and electronic reprints are not continued.

Queensland Queensland Training Assets Management Authority Regulation 2014 Contents Part 1 1 2 3 Part 2 4 Part 3 5 6 7 8 9 10 11 12 Schedule 1 Page Preliminary Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Definitions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Proposed significant action Prescribed asset class and amount—Act, s 46 . . . . . . . . . . . . . . 3 Transfer regulation provisions Purpose of pt 3—Act, s 50 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Definitions for pt 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Transfer of transferring assets and liabilities. . . . . . . . . . . . . . . . . 4 Accounting treatment for transferring assets and liabilities . . . . . 5 Successor in law. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Transferring instruments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Pending legal proceedings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Transfer of records . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Dictionary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Endnotes 1 2 3 4 5 Index to endnotes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Key . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Table of reprints . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . List of legislation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . List of annotations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 9 9 10 10

Queensland Training Assets Management Authority Regulation 2014 Part 1 Preliminary [s 1] Queensland Training Assets Management Authority Regulation 2014 [reprinted as in force on 1 July 2014] Part 1 Preliminary 1 Short title This regulation may be cited as the Queensland Training Assets Management Authority Regulation 2014 . 2 Commencement This regulation commences on 1 July 2014. 3 Definitions The dictionary in schedule 1 defines particular words used in this regulation. Part 2 Proposed significant action 4 Prescribed asset class and amount—Act, s 46 For section 46(1) of the Act— (a) the prescribed class of asset is real property; and (b) the prescribed amount for an asset of that class is zero. Current as at 1 July 2014 Page 3

Queensland Training Assets Management Authority Regulation 2014 Part 3 Transfer regulation provisions [s 5] Part 3 Transfer regulation provisions 5 Purpose of pt 3—Act, s 50 The purpose of this part is to provide for the transfer of assets and liabilities from the training department to QTAMA and other related matters. 6 Definitions for pt 3 In this part— training department means the department in which the TAFE Queensland Act 2013 is administered. transfer day means 1 July 2014. transferring assets and liabilities means the assets and liabilities shown in the transferring assets and liabilities schedule. transferring assets and liabilities schedule means the schedule held by the chief executive of the training department showing particular assets and liabilities of the State relating to the training department immediately before the transfer day. transferring instrument means an instrument shown in the transferring instruments schedule. transferring instruments schedule means the schedule held by the chief executive of the training department showing particular instruments applying to the training department immediately before the transfer day. 7 Transfer of transferring assets and liabilities On the transfer day, the transferring assets and liabilities become the assets and liabilities of QTAMA. Page 4 Current as at 1 July 2014

Queensland Training Assets Management Authority Regulation 2014 Part 3 Transfer regulation provisions [s 8] 8 Accounting treatment for transferring assets and liabilities (1) For accounting purposes, the training department and QTAMA must treat— (a) the transfer of the transferring assets to QTAMA as— (i) an increase in QTAMA’s contributed equity; and (ii) a decrease in the training department’s contributed equity; and (b) the assumption of the transferring liabilities by QTAMA as— (i) a redemption of QTAMA’s contributed equity; and (ii) an increase in the training department’s contributed equity; and (c) the value of the transferring assets transferred to QTAMA as being equivalent to the carrying value of the transferring assets recorded in the accounts of the training department immediately before the transfer day; and (d) the value of the transferring liabilities assumed by QTAMA as being equivalent to the carrying value of the transferring liabilities recorded in the accounts of the training department immediately before the transfer day. (2) In this section— transferring assets means the assets shown in the transferring assets and liabilities schedule. transferring liabilities means the liabilities shown in the transferring assets and liabilities schedule. 9 Successor in law QTAMA is the successor in law of the training department in relation to the following— (a) the transferring assets and liabilities; Current as at 1 July 2014 Page 5

Queensland Training Assets Management Authority Regulation 2014 Part 3 Transfer regulation provisions [s 10] (b) the transferring instruments; (c) the legal proceedings for which section 11 applies; (d) the records mentioned in section 12. 10 Transferring instruments (1) A transferring instrument applies to QTAMA in place of the training department. (2) Without limiting subsection (1)— (a) any right, title, interest or liability of the training department arising under or relating to a transferring instrument is taken to be transferred from the training department to QTAMA; and (b) a transferring instrument, including a benefit or right provided by a transferring instrument, given to, by or in favour of the training department is taken to have been given to, by or in favour of QTAMA; and (c) QTAMA is taken to be a party to each transferring instrument in place of the training department; and (d) a reference to the training department in a transferring instrument is taken to be a reference to QTAMA; and (e) an application in relation to a transferring instrument made in the name of the training department is taken to have been made in QTAMA’s name; and (f) a transferring instrument under which an amount is, or may become, payable to or by the training department is taken to be an instrument under which the amount is, or may become, payable to or by QTAMA in the way the amount was, or might have become, payable to or by the training department; and (g) a transferring instrument under which property, other than money, is or may become liable to be transferred, conveyed or assigned to or by the training department is taken to be an instrument under which property is, or may become liable to be, transferred, conveyed or Page 6 Current as at 1 July 2014

Queensland Training Assets Management Authority Regulation 2014 Part 3 Transfer regulation provisions [s 11] assigned to or by QTAMA in the way the property was, or might have become, liable to be transferred, conveyed or assigned to or by the training department. 11 Pending legal proceedings (1) This section applies for a legal proceeding that, before the transfer day, could have been started or continued by or against the State in relation to any of the following— (a) a transferring instrument; (b) any of the transferring assets and liabilities; (c) a record transferred to QTAMA under section 12. (2) The legal proceeding must be started or continued by or against QTAMA. 12 Transfer of records On the transfer day, the records of the State relating to the transferring assets and liabilities and transferring instruments become the records of QTAMA. Current as at 1 July 2014 Page 7

Queensland Training Assets Management Authority Regulation 2014 Schedule 1 Schedule 1 Dictionary section 3 training department , for part 3, see section 6. transfer day , for part 3, see section 6. transferring assets and liabilities , for part 3, see section 6. transferring assets and liabilities schedule , for part 3, see section 6. transferring instrument , for part 3, see section 6. transferring instruments schedule , for part 3, see section 6. Page 8 Current as at 1 July 2014

Queensland Training Assets Management Authority Regulation 2014 Endnotes Endnotes 1 Index to endnotes Page 2 Key . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 3 Table of reprints . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 4 List of legislation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10 5 List of annotations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10 2 Key Key to abbreviations in list of legislation and annotations Key AIA amd amdt ch def div exp gaz hdg ins lap notfd num o in c om orig p para prec pres prev Explanation = Acts Interpretation Act 1954 = amended = amendment = chapter = definition = division = expires/expired = gazette = heading = inserted = lapsed = notified = numbered = order in council = omitted = original = page = paragraph = preceding = present = previous Key (prev) proc prov pt pubd R[X] RA reloc renum rep (retro) rv s sch sdiv SIA SIR SL sub unnum Explanation = previously = proclamation = provision = part = published = Reprint No. [X] = Reprints Act 1992 = relocated = renumbered = repealed = retrospectively = revised version = section = schedule = subdivision = Statutory Instruments Act 1992 = Statutory Instruments Regulation 2012 = subordinate legislation = substituted = unnumbered 3 Table of reprints A new reprint of the legislation is prepared by the Office of the Queensland Parliamentary Counsel each time a change to the legislation takes effect. The notes column for this reprint gives details of any discretionary editorial powers under the Reprints Act 1992 used by the Office of the Queensland Parliamentary Counsel in preparing it. Section 5(c) and (d) of the Act are not mentioned as they contain mandatory Current as at 1 July 2014 Page 9

Queensland Training Assets Management Authority Regulation 2014 Endnotes requirements that all amendments be included and all necessary consequential amendments be incorporated, whether of punctuation, numbering or another kind. Further details of the use of any discretionary editorial power noted in the table can be obtained by contacting the Office of the Queensland Parliamentary Counsel by telephone on 3003 9601 or email legislation.queries@oqpc.qld.gov.au. From 29 January 2013, all Queensland reprints are dated and authorised by the Parliamentary Counsel. The previous numbering system and distinctions between printed and electronic reprints is not continued with the relevant details for historical reprints included in this table. Current as at 1 July 2014 Amendments included none Notes RA ss 7(1)(k), 40 4 List of legislation Regulatory impact statements For subordinate legislation that has a regulatory impact statement, specific reference to the statement is included in this list. Explanatory notes All subordinate legislation made on or after 1 January 2011 has an explanatory note. Queensland Training Assets Management Authority Regulation 2014 SL No. 141 made by the Governor in Council on 26 June 2014 notfd <www.legislation.qld.gov.au> 27 June 2014 ss 1–2 commenced on date of notification remaining provisions commenced 1 July 2014 (see s 2) exp 1 September 2024 (see SIA s 54) Note—The expiry date may have changed since this reprint was published. See the latest reprint of the SIR for any change. 5 List of annotations PART 4—AMENDMENT OF STATUTORY ARRANGEMENTS REGULATION 2007 pt 4 (ss 13–16) om RA ss 7(1)(k), 40 BODIES FINANCIAL © State of Queensland 2014 Authorised by the Parliamentary Counsel Page 10 Current as at 1 July 2014