TAB Queensland Limited Privatisation Bill 1999 (Qld)

Queensland

TAB QUEENSLAND LIMITED PRIVATISATION BILL 1999

TAB QUEENSLAND LIMITED PRIVATISATION BILL 1999

TABLE OF PROVISIONS

Section Page PART 1—PRELIMINARY Division 1—Introduction 1 Short title 2.0... eee eee 8 2 Dictionary ..... 6... cece cece ete ete eee nee 8 Division 2—TAB@ no longer a company GOC 3 TABQ stops being company GOC ... 2.2.6... 0c eee 8 Division 3—Object and basic concepts 4 Object 6... ete 8 5 Meaning of "sale process" ........ 00... e eect eee eee 9 6 Meaning of "listing day"... 0... 0... eee ee eee eee 9 7 Things done by Act Ministers... 0.0.0... cece eee eee 9 PART 2—MANAGEMENT OF SALE PROCESS Division 1—Application of part 2 8 When pt 2 applies... 0.6.6... 10 Division 2—Management of TABQ until listing day 9 Resolutions without meetings... 2.6.6.0... cece eee eee 10 10 TABQ's constitution may be amended by Act Ministers............... 11 11 Act Ministers may require amendment of subsidiary's constitution ...... 11 12 Composition of board... 2.6... ee ee eee 11 13 Div 2 has effect despite Corporations Law ............ 0.0 eee eee eens 11 Division 3—Sale process 14 Sale of TABQ... 1. ene nett eet eee e eee eee 12 15 Minister's power to execute share transfers ................0 00 ee eee ee 12 TAB Queensland Limited Privatisation 17 19212325 272931333537 39

Ministerial control of TABQ for certain purposes................2.... Act ministers not to be treated as directors of TABQ................-. PART 3—RESTRICTIONS RELATING TO SHAREHOLDING Division 1—Preliminary Definition for pt3.... 6... eee eee eens When a person is an associate of another..............0..0.....0000. Relevant interests in shares ......... 6... cece cece ee eee eee Entitlements to voting shares in TABQ............0..00.0000000000. References to Corporations Law...... 0.00... eee eee Provision if TABQ's share capital consists of stock ................... Cornerstone investor . 6... 2... cee ee Application of pt 3.2... 0... eee eee eee Division 2—Maximum shareholding restrictions Prohibited shareholding interest.............00...0 0000000000020 0 0 Power to require information relating to entitlement to shares in TABQ. . Declarations by Minister............ 0.00... Compliance with requirement notice .................0 000000000000. Disposal and forfeiture of shares if prohibited shareholding interest...... Further forfeiture provision ..........00..0 00. cece eee eee ee Minister must give notice to TABQ....... 0.2.0.0... c eee eee eee When declarations by Minister have effect.....................0.000. Minister must give reasons etc. for declarations..................0... Appeal against declarations of Minister ................00....00000. Affect of appeals on Minister's declarations ....................0000. Sale of forfeited shares 2.0.0.0... 0... ccc cece eee eee