Queensland TAB QUEENSLAND LIMITED PRIVATISATION AMENDMENT BILL 2003 Queensland TAB QUEENSLAND LIMITED PRIVATISATION AMENDMENT BILL 2003 TABLE OF PROVISIONS Section Page 1 Short title. 2... eee eens 4 2 Commencement. ......... 0... eee eee eee eee eens 4 3 Act amended ...... 0... 00. ec cee eens 4 4 Amendment of s 18 (Definition for pt 3).................. 00.222 e eee 4 5 Omission of s 24 (Cornerstone investor)............-.00 eee eee e eee 4 6 Amendment of s 26 (Prohibited shareholding interest)................. 4 7 Omission of pt 3, divs 3 and 4.0.0.0... 0... eee eee eee eee 5 8 Amendment of s 44 (TABQ group companies to have constitutions containing certain provisions)... ........ 6.6000 e eee eee eee eee ee 5 9 Amendment of s 50 (Pt 5 overrides Corporations Law) ................ 6 A BILL FOR An Act to amend the TAB Queensland Limited Privatisation Act 1999 Clause Clause Clause Clause Clause Clause s1 4 s6 TAB Queensland Limited Privatisation Amendment Bill 2003 The Parliament of Queensland enacts— 1 Short title This Act may be cited as the TAB Queensland Limited Privatisation Amendment Act 2003. 2 Commencement This Act commences on a day to be fixed by proclamation. 3 Act amended This Act amends the TAB Queensland Limited Privatisation Act 1999. 4 Amendment of s 18 (Definition for pt 3) (1) Section 18, heading, 'Definition' — omit, insert— 'Definitions' . (2) Section 18, definition "cornerstone investor"'— omit. 5 Omission of s 24 (Cornerstone investor) Section 24— omit. 6 Amendment of s 26 (Prohibited shareholding interest) (1) Section 26(1), 'the cornerstone investor' — omit, insert— 'Tab Limited (ABN 17 081 765 308)'. & UW WwW N FF OC 21 Clause Clause s7 5 s8 TAB Queensland Limited Privatisation Amendment Bill 2003 (2) Section 26(2)— omit, insert— '(2) Tab Limited has a prohibited shareholding interest in TABQ if it is entitled to voting shares in TABQ that together constitute more than 10% of the total number of voting shares in TABQ unless the shares were acquired under an arrangement approved by a court under the Corporations Act, section 411(6) and notified by the Minister by gazette notice.'. (3) Section 26(4)— omit. (4) Section 26(5) and (6)— renumber as section 26(4) and (5). 7 Omission of pt 3, divs 3 and 4 Part 3, divisions 3 and 4— omit. 8 Amendment of s 44 (TABQ group companies to have constitutions containing certain provisions) (1) Section 44(2)(b)— omit, insert— '(b) at least 3 of the directors of the company to be ordinarily resident in Queensland; and (c) the holders of the following positions, however described, in the company to be ordinarily resident in Queensland— ° chief financial officer; * general counsel; ° chief human resources officer; and (d) each annual general meeting of the company to be held in Queensland.'. (2) Section 44(3)(c)— omit, insert— Oo Mm ANIDMBW YN & onan 22 2427 29 s9 6 s9 TAB Queensland Limited Privatisation Amendment Bill 2003 '(c) in each year, at least 4 of the company's board meetings are held in Queensland; and (d) each meeting of the company's board held annually for the purpose of strategic planning is held in Queensland.'. Clause 9 Amendment of s 50 (Pt 5 overrides Corporations Law) Section 50, heading, 'Law'— omit, insert— 'Act'. © State of Queensland 2003 RW Ne wmaranrnwnm