Infrastructure Investment (Asset Restructuring and Disposal) Act 2009 (Qld)

Infrastructure Investment (Asset Restructuring and Disposal) Act 2009

An Act to facilitate the restructure and disposal of particular businesses, assets and liabilities of government entities and for a particular purpose

Part 1 Preliminary

1 Short title This Act may be cited as the Infrastructure Investment (Asset Restructuring and Disposal) Act 2009.

2 Main purpose of Act The main purpose of this Act is to facilitate the restructure and disposal of particular businesses, assets and liabilities of government entities.

3 Extraterritorial application of Act (1) This Act applies both within and outside Queensland. (2) This Act applies outside Queensland to the full extent of the extraterritorial legislative power of the Parliament.

Part 2 Interpretation

4 Dictionary The dictionary in the schedule defines particular words used in this Act.

5 Declared projects (1) Each of the following is a declared project— (a) the disposal of all or part of the businesses, assets and liabilities of Queensland Motorways; (b) the disposal of all or part of the businesses, assets and liabilities of Port of Brisbane Corporation; (c) the disposal of all or part of the above rail businesses, assets and liabilities of Queensland Rail other than a passenger services business, asset or liability; (d) the disposal of all or part of the below rail businesses, assets and liabilities of Queensland Rail; (e) the disposal of all or part of the Abbot Point Coal Terminal held by Ports Corporation of Queensland and associated businesses, assets and liabilities; (f) the disposal of all or part of the businesses, assets and liabilities of Forestry Plantations Queensland; (fa) the disposal of all or part of the businesses, assets and liabilities of Forestry Plantations Queensland Office; (g) the taking of steps to facilitate a disposal mentioned in paragraphs (a) to (fa), including by— (i) restructuring an entity mentioned in the paragraph or another declared entity; or (ii) restructuring a business, asset or liability of the entity mentioned in the paragraph or another declared entity; (h) a thing declared to be part of a declared project under subsection (2). (2) The Minister may, by gazette notice, declare a thing to be part of a declared project for this Act if the Minister is satisfied it is appropriate to include the thing as part of a disposal mentioned in subsection (1)(a) to (fa) or otherwise necessary to do so for the proper completion of the declared project. Example— A declared project comprises disposing of a particular rail line of Queensland Rail used in a coal business. Another declared entity holds land and equipment associated with the operation of the rail line. The Minister may be satisfied it is appropriate to include disposal of the land and equipment as part of the disposal of the rail line.