Bell Group Companies (Finalisation of Matters and Distribution of Proceeds) Act 2015 (WA)

Western Australia Bell Group Companies (Finalisation of Matters and Distribution of Proceeds) Act 2015 Note: On 16 May 2016 the High Court of Australia declared this Act to be invalid in its entirety. (See Bell Group N.V. (in liquidation) v Western Australia [2016] HCA 21.) Western Australia Bell Group Companies (Finalisation of Matters and Distribution of Proceeds) Act 2015 Contents Part 1 — Preliminary 1. Short title 2 2. Commencement 2 3. Terms used 2 4. Objects of this Act 10 5. Crown bound 11 6. Extraterritorial operation 11 Part 2 — Authority and Fund Division 1 — WA Bell Companies Administrator Authority 7. Authority established 12 8. Administrator appointed 12 9. Functions of the Authority 13 10. Powers of the Authority 13 11. Use of government staff 14 12. Delegation 14 13. Execution of documents by the Authority 15 14. Annual and final reports 15 15. Special reports 16 Division 2 — The WA Bell Companies Administrator Authority Fund 16. Establishment of Fund 16 17. Investment of Fund 17 18. Administration expenses 17 19. Accounting for losses 18 Division 3 — Assumptions 20. Assumptions entitled to be made 18 21. Assumptions 19 Part 3 — WA Bell Companies Division 1A — WA Bell Companies continuing existence 21A. WA Bell Companies continuing existence 20 Division 1 — Transfer of property 22. Transfer of property 21 23. Notice to property holder 23 24. Steps to be taken to perfect transfer 24 Division 2 — Treatment of liabilities 25. Treatment of liabilities 24 Division 3 — Voiding of Agreements 26. Certain agreements voided 25 Division 4 — Administration of WA Bell Companies 27. Authority to administer WA Bell Companies 26 28. Role of Authority as administrator of WA Bell Companies 27 29. Powers of other officers 27 Division 5 — Dissolution of WA Bell Companies 30. Dissolution of companies 27 Division 6 — Miscellaneous 31. Registration of documents to show effect of this Part 29 Part 4 — Completion of winding up of WA Bell Companies Division 1 — Application of this Part 32. Application of this Part in relation to certain interests 30 Division 2 — Information gathering 33. Requirements on liquidator 31 34. Call for proof of liabilities 33 Division 3 — Reports and recommendations by the Authority 35. Role of the Authority 34 36. Authority must seek submissions from affected creditors 34 37. Determination of property and liabilities 35 38. Reports to the Minister on property and liabilities 35 39. Recommendations with respect to liabilities 36 40. Recommendations with respect to funding or indemnities 38 Division 4 — Determinations of the Governor 41. Governor may determine amounts and property: interim determinations 40 42. Governor may determine amounts and property: final determination 41 43. Determinations: general provisions 41 Division 5 — Giving effect to Governor's determination 44. Authority to make payments or transfer property 42 Division 6 — Release of Liquidator 45. Release of liquidator 44 Part 5 — Winding up of the Authority and Fund 46. Closure of the Fund 45 48. Vesting of property in the State 45 49. Reports on Authority's functions 45 Part 6 — Application of Corporations Act 50. Terms used 47 51. WA Bell Companies excluded from Corporations legislation 47 52. Displacement of certain provisions of Corporations legislation 48 53. Applying the Corporations legislation to WA Bell Companies 48 53A. Validity of certain provisions 50 Part 7 — Offences 54. Scheme to avoid operation of Act or achievement of its objects 51 55. Certain deregistered companies not to be reinstated by certain persons 52 56. Dealings with property 52 57. Obstruction or hindrance of the Authority 53 58. Failure to comply with requirements 53 59. False information 54 60. Confidentiality of information 54 61. Liability of officers of body corporate for offence by body corporate 55 62. Further provisions relating to liability of officers of body corporate 55 63. Conduct on behalf of bodies corporate and principals 56 64. Continuing offences: daily penalties 57 65. Bringing prosecutions 58 66. Injunctions to ensure compliance with this Act 58 Part 8 — Miscellaneous 67. Privilege 60 68. Effect of things done under Act 60 69. Protection of the Minister, the Authority and others 62 70. Protection of ICWA and others connected with it 62 71. Protection for compliance with the Act 63 72. Act not to give rise to liability against the State, Authority or Administrator 64 73. Stay of proceedings 64 74. No appeal or review 65 75. Conduct of inquiry 66 76. Judicial notice 66 77. Freedom of Information Act 1992 66 78. Power to obtain opinion 66 79. Constructive notice of contents of document 67 80. Translation of documents 67 81. Service of documents 67 82. Approved forms 67 83. Regulations 67 84. Expiry of Act 68 85. The Bell Group Companies (Finalisation of Matters and Distribution of Proceeds) Amendment Act 2016 69 Schedule 1 — The WA Bell Companies Schedule 2 — The Bell litigation Notes Compilation table 76 Uncommenced provisions table 76 Defined terms Western Australia Bell Group Companies (Finalisation of Matters and Distribution of Proceeds) Act 2015 An Act to provide a legislative framework for the dissolution, and administration of the property, of The Bell Group Ltd ACN 008 666 993 (In Liquidation) and certain of its subsidiaries and for related purposes. The Parliament of Western Australia enacts as follows: