James Hardie (Civil Penalty Compensation Release) Act 2005 (NSW)

James Hardie (Civil Penalty Compensation Release) Act 2005 No 107

An Act to provide for the extinguishment of certain liability of companies and other persons associated with the James Hardie corporate group to pay compensation in connection with civil penalties; and for other purposes.

Part 1 Preliminary

1 Name of Act This Act is the James Hardie (Civil Penalty Compensation Release) Act 2005.

2 Commencement This Act commences on the date of assent to this Act.

3 Definitions (1) In this Act: ABN 60 means the company registered under the Corporations Act immediately before the introduction day as ABN 60 Pty Limited (ACN 000 009 263) that was formerly called James Hardie Industries Limited, and includes any successor to or continuation of that company. ABN 60 Foundation means the company registered under the Corporations Act immediately before the introduction day as ABN 60 Foundation Limited (ACN 106 266 611), and includes any successor to or continuation of that company. Amaba means the company registered under the Corporations Act immediately before the introduction day as Amaba Pty Limited (ACN 000 387 342) that was formerly called Jsekarb Pty Limited, and includes any successor to or continuation of that company. Amaca means the company registered under the Corporations Act immediately before the introduction day as Amaca Pty Limited (ACN 000 035 512) that was formerly called James Hardie & Coy Pty Limited, and includes any successor to or continuation of that company. assent day means the day on which this Act received the Royal Assent. Compensation Foundation means the company registered under the Corporations Act immediately before the introduction day as the Medical Research and Compensation Foundation (ACN 095 924 137), and includes any successor to or continuation of that company. Corporations Act means the Corporations Act 2001 of the Commonwealth. Corporations legislation means the Corporations legislation to which Part 1.1A of the Corporations Act applies. exercise a function includes perform a duty. Final Funding Agreement has the same meaning as it has in the James Hardie Former Subsidiaries (Winding up and Administration) Act 2005. function includes a power, authority or duty. general law means the common law and equity. Heads of Agreement means the Heads of Agreement entered into on 21 December 2004 by the following persons and bodies: (a) James Hardie Industries NV, (b) the State, (c) the Australian Council of Trade Unions, (d) Unions New South Wales, (e) Mr Bernie Banton as the designated representative of the Asbestos Victims Groups named in Schedule 1 to the Heads of Agreement. introduction day means the day on which the Bill for this Act was first introduced into Parliament.