Tasmanian Ports Corporation Act 2005 (Tas)

Tasmanian Ports Corporation Act 2005

An Act to provide for the control of, and other matters relating to, the Tasmanian Ports Corporation Pty. Ltd., for the transfer to that Corporation or the Crown of the assets and liabilities of the four port companies formed under the Port Companies Act 1997 , for the repeal of the Port Companies Act 1997 and rescission of the Port Companies Regulations 1999 and for related matters [Royal Assent 13 October 2005]

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 Tasmanian Ports Corporation Act 2005 .

2. Commencement (1) This Act, other than section 35 and Schedule 1 , commences on the day on which this Act receives the Royal Assent. (2) Section 35 and Schedule 1 commence on the transfer day.

3. Purposes of Act The purposes of this Act are to – (a) provide for matters relating to the control of the Tasmanian Ports Corporation Pty. Ltd. (ACN 114 161 938) registered under the Corporations Act; and (b) vest the assets and liabilities of the port companies in either the Corporation or the Crown; and (c) make provision in respect of the employees of the port companies consequent on the transfer of those assets and liabilities.

4. Interpretation In this Act, unless the contrary intention appears – annual general meeting means the annual general meeting of the Corporation held in accordance with its constitution; asset includes any, and any part of any, property, business, operation and right; Board means the Board of Directors of the Corporation; constitution means the constitution of the Corporation; Corporation means the Tasmanian Ports Corporation Pty. Ltd. (ACN 114 161 938) registered under the Corporations Act; Crown asset or liability means an asset or liability that is transferred to the Crown by a notice made under section 25 ; director means a director of the Corporation; document includes an instrument and part of a document; legal or other proceeding includes arbitration proceedings and mediation proceedings; liability includes any, or any part of any, liability, duty and obligation, whether actual, contingent or prospective; member, in respect of the Corporation, means a member referred to in section 8 ; port company means any of the following companies formed under the Port Companies Act 1997 and registered under the Corporations Act: (a) Hobart Ports Corporation Pty. Ltd. (ACN 078 720 180); (b) Port of Launceston Pty. Ltd. (ACN 078 720 108); (c) Port of Devonport Corporation Pty. Ltd. (ACN 078 720 224); (d) Burnie Port Corporation Pty. Ltd. (ACN 078 720 279); principal objectives means the objectives of the Corporation specified in section 6 ; property means – (a) any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property; and (b) money, documents and securities; and (c) shares in a subsidiary held by a port company; and (d) any other rights; right includes any right, power, privilege and immunity, whether actual, contingent or prospective; subsidiary has the same meaning as in the Corporations Act; transfer day means the day determined by the Minister under section 5 to be the transfer day; transferred asset or liability means an asset that vests in, or a liability that becomes a liability of, the Corporation by the operation of section 20 .