Government Business Enterprises (Sale) Act 2003 (Tas)

Government Business Enterprises (Sale) Act 2003

An Act to authorise, enable and facilitate the sale of the businesses or assets of certain Government Business Enterprises, to provide for the repeal of the Portfolio Acts of those Government Business Enterprises and for related purposes [Royal Assent 4 July 2003]

Be it enacted by His Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows:

PART 1 - Preliminary

1. Short title This Act may be cited as the Government Business Enterprises (Sale) Act 2003 .

2. Commencement This Act commences on the day on which this Act receives the Royal Assent.

3. Objects of Act The objects of this Act are to enable the Crown to do any one or more of the following: (a) sell the whole or part of a prescribed Government Business Enterprise; (b) transfer to the Crown any business of a prescribed Government Business Enterprise that remains with the prescribed Government Business Enterprise after its other business is sold; (c) form a company under the Corporations Act and transfer to that company the business of a prescribed Government Business Enterprise; (d) transfer to the Crown any business of a prescribed Government Business Enterprise that remains with the prescribed Government Business Enterprise after its other business is transferred to such a company; (e) sell the shares in such a company that are held on behalf of the Crown.

4. Interpretation (1) In this Act, unless the contrary intention appears – Board has the same meaning as in the Government Business Enterprises Act 1995 ; business, in relation to a prescribed Government Business Enterprise or relevant prescribed Government Business Enterprise, includes – (a) the business conducted by the prescribed Government Business Enterprise or relevant prescribed Government Business Enterprise; and (b) the goodwill of that business; and (c) the property of the prescribed Government Business Enterprise or relevant prescribed Government Business Enterprise; and (d) the liabilities of the prescribed Government Business Enterprise or relevant prescribed Government Business Enterprise in relation to that business; and (e) a part of the business of a prescribed Government Business Enterprise or relevant prescribed Government Business Enterprise – but does not include a part of the business of a prescribed Government Business Enterprise or relevant prescribed Government Business Enterprise that the regulations exclude from the operation of this Act; business sale date means the day on which the business of a prescribed Government Business Enterprise is sold under section 7(1) ; company means a company formed under section 14 ; existing document means – (a) in relation to the sale under section 7(1) of the business of a prescribed Government Business Enterprise, a document that was in effect immediately before the business sale date; or (b) in relation to the transfer under section 17 of the business of a relevant prescribed Government Business Enterprise to a company, a document that was in effect immediately before the transfer day; or (c) in relation to the transfer under section 35 of the business of a prescribed Government Business Enterprise or relevant prescribed Government Business Enterprise to the Crown, a document that was in effect immediately before the transfer day; Government Business Enterprise has the same meaning as in the Government Business Enterprises Act 1995 ; legal proceeding includes arbitration and mediation; liability means an actual, contingent or prospective liability, duty or obligation; Part 3 transfer notice means a notice made under section 17(1) ; Part 4 transfer notice means a notice made under section 35(1) ; Portfolio Act has the same meaning as in the Government Business Enterprises Act 1995 ; Portfolio Minister has the same meaning as in the Government Business Enterprises Act 1995 ; prescribed Government Business Enterprise means – (a) the Civil Construction Services Corporation established under the Civil Construction Services Corporation Act 1994 ; or (b) the Stanley Cool Stores Board established under the Stanley Cool Stores Act 1945 ; or (c) the Tasmanian Grain Elevators Board constituted under the Grain Reserve Act 1950 ; or (d) the Printing Authority of Tasmania established under the Printing Authority of Tasmania Act 1994 ; or (e) the Southern Regional Cemetery Trust established under the Southern Regional Cemetery Act 1981 ; property means any present or future, vested or contingent, legal or equitable estate or interest in real or personal property and includes money, documents, securities, choses in action and other rights, powers, privileges and immunities (whether actual, contingent or prospective); purchased business means the business of a prescribed Government Business Enterprise that is sold under section 7(1) ; purchaser means a person who purchases the business of a prescribed Government Business Enterprise sold under section 7 or a related body corporate, within the meaning of the Corporations Act, of that person; relevant prescribed Government Business Enterprise means the prescribed Government Business Enterprise whose business is transferred to a company under section 17 ; State tax means any tax, duty, charge or application, registration or other fee imposed by an Act or other law of Tasmania; subsidiary has the same meaning as in the Corporations Act; transfer day means – (a) in Part 3 , the day specified in a Part 3 transfer notice as the day on which that transfer notice takes effect; or (b) in Part 4 , the day specified in a Part 4 transfer notice as the day on which that transfer notice takes effect; transferred business means – (a) in Part 3 , the whole, or any part, of the business of a prescribed Government Business Enterprise specified in, and transferred by, a Part 3 transfer notice; or (b) in Part 4 , the whole, or any part, of the business of a prescribed Government Business Enterprise specified in, and transferred by, a Part 4 transfer notice; transferred employee means – (a) in Part 2 , a person whose employment is transferred under section 10 consequent on the sale of the business of a prescribed Government Business Enterprise under section 7(1) ; or (b) in Part 3 , a person whose employment is transferred under section 18 consequent on the transfer of the business of a relevant prescribed Government Business Enterprise under section 17 . (2) In this Act, a reference to a person employed by a prescribed Government Business Enterprise or a relevant prescribed Government Business Enterprise is a reference to a person employed by that Government Business Enterprise under section 21(1) of the Government Business Enterprises Act 1995 .