AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 [Note: This Act is "repealed" by Act No. 187 of 1985]
(#DATE 30:06:1982)
Compilation Information
- Reprinted as at 30 June 1982
*1* The Australian Overseas Projects Corporation Act 1978 as shown in this
reprint comprises Act No. 105, 1978 amended as indicated in the Tables below.
Table of Acts
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Application,
saving
Number Date Date of or
transitional
Act and year of Assent commencement
provisions
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Australian Overseas
Projects
Corporation Act
1978 105, 1978 30 Aug
1978 23 Nov 1978 (see
Gazette 1978, No.
S244, p. 1)
Statute Law
(Miscellaneous
Amendments) Act
1981 176, 1981 2 Dec
1981 Part VII (ss.
18-27): 30 Dec
1981 (a) -
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(a) The Australian Overseas Projects Corporation Act 1978 was amended by
Part VII (sections 18-27) only of the Statute Law (Miscellaneous Amendments)
Act 1981, sub-section 2 (12) of which provides that Part VII shall come into
operation on the twenty-eighth day after Royal Assent.
Table of Amendments
ad. = added or inserted am. = amended rep. =
repealed rs. = repealed and substituted
-----------------------------------------------------------------------------
Provision affected How affected
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Ss. 3, 4 . . . . . . am. No. 176, 1981
Ss. 6-8 . . . . . . . am. No. 176, 1981
S. 8A . . . . . . . . ad. No. 176, 1981
Ss. 9, 10 . . . . . . am. No. 176, 1981
S. 43 . . . . . . . . rs. No. 176, 1981
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AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - TABLE OF PROVISIONS
TABLE
TABLE OF PROVISIONS
PART I - PRELIMINARY
Section
1. Short title
2. Commencement
3. Interpretation
4. Objects of Act
PART II - AUSTRALIAN OVERSEAS PROJECTS CORPORATION
5. Establishment of Corporation
6. Functions of Corporation
7. Corporation not to engage in trade
8. Corporation not to compete against Australian private
organizations or consortiums
8A. Corporation not to assist Australian authorities or public
consortiums to compete against Australian private organizations
or consortiums
9. Corporation not to act as prime contractor except with
approval
10. Powers of Corporation
PART III - AUSTRALIAN OVERSEAS PROJECTS CORPORATION BOARD
11. Establishment of Board
12. Functions of Board
13. Membership of Board
14. Questions of policy
15. Delegation by Board
16. Remuneration and allowances
17. Resignation
18. Termination of appointment
19. Acting appointments
20. Meetings of Board
PART IV - MANAGING DIRECTOR AND STAFF
Division 1 - Managing Director
21. Managing Director
22. Duty of Managing Director
23. Appointment and term of office
24. Managing Director not to engage in other work
25. Remuneration and allowances
26. Leave of absence
27. Resignation
An Act to establish an Australian Overseas Projects Corporation
28. Termination of appointment
29. Acting Managing Director
30. Retention of Public Service rights
Division 2 - Staff
31. Employees
32. Rights of public servants employed under this Act
PART V - FINANCE
33. Financial policy of Corporation
34. Capital of Corporation
35. Payments to the Commonwealth
36. Surplus profits of the Corporation
37. Borrowing by the Corporation
38. Guarantee by the Commonwealth
39. Bank accounts
40. Application of moneys
41. Proper accounts to be kept
42. Contracts
43. Assessed net commercial risk
44. Audit
45. Liability to taxation
PART VI - MISCELLANEOUS
46. Reports to Minister
47. Annual report of Corporation
48. Validity of contracts and guarantees
49. Delegation by Minister
50. Regulations
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - LONG TITLE
SECT
An Act to establish an Australian Overseas Projects Corporation
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - PART I
PART I-PRELIMINARY
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 1
Short title
SECT
1. This Act may be cited as the Australian Overseas Projects Corporation Act
1978.*1*
SEE NOTES TO FIRST ARTICLE OF THIS CHAPTER .
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 2
Commencement
SECT
2. This Act shall come into operation on a date to be fixed by
Proclamation.*1*
SEE NOTES TO FIRST ARTICLE OF THIS CHAPTER .
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 3
Interpretation
SECT
3. (1) In this Act, unless the contrary intention appears-
"acting Chairman" means an acting Chairman of the Board appointed under
sub-section 19 (1);
"acting Deputy Chairman" means an acting Deputy Chairman of the Board
appointed under sub-section 19 (2);
"acting Director" means an acting Chairman, an acting Deputy Chairman and an
acting Director appointed under sub-section 19 (3);
"acting Managing Director" means an acting Managing Director of the
Corporation appointed under sub-section 29 (1);
"appointed Director" means the Chairman, the Deputy Chairman or a Director
referred to in paragraph 13 (1) (d);
"approved bank" means a trading bank within the meaning of sub-section 5 (1)
of the Banking Act 1959 or another bank approved by the Treasurer for the
purposes of the provision in which the expression occurs;
"Australian authority" means an authority or body (including a body
corporate and a corporation sole)-
(a) established for a purpose of the Commonwealth by, or in accordance
with the provisions of, a law of the Commonwealth or of the Australian Capital
Territory; or
(b) established for a purpose of a State by, or in accordance with the
provisions of, a law of the State,
and includes a Department of the Australian Public Service and a
Department of the Public Service of a State, but does not include the
Corporation;
"Australian company" means a company incorporated or formed in Australia;
"Australian organization" means-
(a) an Australian private organization;
(b) an Australian private consortium;
(c) an Australian authority; or
(d) an Australian public consortium;
"Australian private consortium" means an association of persons at least one
of whom is an Australian private organization, but does not include a
Corporation consortium;
"Australian private organization" means-
(a) a natural person or a partnership; or
(b) an Australian company,
carrying on business in Australia;
"Australian public consortium" means an association of persons at least one
of whom is an Australian authority, but does not include an Australian private
consortium or a Corporation consortium;
"Board" means the Australian Overseas Projects Corporation Board established
by section 11;
"Chairman" means the Chairman of the Board;
"Corporation" means the Australian Overseas Projects Corporation established
by section 5;
"Corporation consortium" means an association consisting of the Corporation
and-
(a) an Australian private organization;
(b) an Australian authority; or
(c) 2 or more persons at least one of whom is an Australian private
organization or an Australian authority;
"Deputy Chairman" means the Deputy Chairman of the Board;
"development project" means a project by way of-
(a) the construction of works;
(aa) the provision of services;
(b) the design, supply or installation of equipment or facilities; or
(c) the testing in the field of agricultural practices,
and includes any necessary preliminary studies, investigations or
planning;
"Director" means a Director of the Corporation;
"Managing Director" means the Managing Director of the Corporation;
"organization" includes a person, a partnership, a company, an authority and
a consortium;
"overseas development project" means a development project that is to be
carried out in a country other than Australia;
"State" includes the Northern Territory.
(2) For the purposes of this Act, the profits of the Corporation for a
financial year are the amount (if any) remaining after deducting from the
revenue received or receivable in respect of that financial year the
expenditure and provision for expenditure properly chargeable against that
revenue.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 4
Objects of Act
SECT
4. The object of this Act is to assist Australian organizations to compete
for contracts for overseas development projects so as to encourage the export
of Australian goods and services.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - PART II
PART II-AUSTRALIAN OVERSEAS PROJECTS CORPORATION
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 5
Establishment of Corporation
SECT
5. (1) There is established by this section a Corporation by the name of the
Australian Overseas Projects Corporation.
(2) The Corporation-
(a) is a body corporate;
(b) shall have a seal;
(c) may acquire, hold and dispose of real and personal property; and
(d) may sue or be sued in its corporate name.
(3) The seal of the Corporation shall be kept in such custody as the Board
directs and shall not be used except as authorized by the Board.
(4) All courts, judges and persons acting judicially shall take judicial
notice of the seal of the Corporation affixed to a document and shall presume
that it was duly affixed.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 6
Functions of Corporation
SECT
6. (1) Subject to this Part, the functions of the Corporation are-
(a) to obtain and make available to Australian organizations information
with regard to the opportunities that exist, or may exist, from time to time,
for Australian involvement in overseas development projects;
(b) to assist Australian organizations to negotiate with, or at the request
in writing of the Minister and subject to such conditions (if any) as are
specified in the instrument of request to negotiate with, overseas Governments
or organizations for the carrying out of overseas development projects by
Australian organizations or by a Corporation consortium;
(c) to assist Australian organizations to carry out overseas development
projects; and
(d) to agree to carry out the whole, or a part, of an overseas development
project with a view to arranging for the necessary work in relation to the
project to be carried out, on behalf of the Corporation, by Australian
organizations.
(2) In carrying out the functions set out in sub-section (1), the
Corporation may-
(a) provide an Australian organization or a Corporation consortium with
technical or advisory services, whether supplied by the Corporation or on its
behalf; and
(b) at the request of an Australian organization, join with that
organization, or with that organization and other organizations (whether
Australian organizations or not) in the formation of a Corporation consortium
for the purpose of carrying out the whole, or a part, of an overseas
development project.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 7
Corporation not to engage in trade
SECT
7. (1) Subject to sub-section (2), the Corporation shall not engage, whether
as principal or agent, in the buying or selling of goods.
(2) The Corporation may-
(a) buy goods for use by the Corporation within Australia and subsequently
sell such goods; and
(b) buy or sell goods to the extent that that buying or selling is
incidental to the provision by the Corporation of a technical or advisory
service to an Australian organization or a Corporation consortium.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 8
Corporation not to compete against Australian private organizations or
consortiums
SECT
8. (1) Where the Corporation is aware that an Australian private
organization or an Australian private consortium is able and willing to carry
out an overseas development project or a part of an overseas development
project, the Corporation shall not, unless the Minister otherwise approves,
take any action that would result in that project or that part of the project
being carried out, in whole or in part, by the Corporation, whether acting as
a principal or as an agent, or by a Corporation consortium.
(2) Where an Australian private organization or an Australian private
consortium becomes aware that the Corporation-
(a) is negotiating with another person or other persons with a view to the
formation of a Corporation consortium to carry out the whole, or a part, of an
overseas development project; or
(b) is negotiating with an overseas Government or organization with a view
to agreeing to carry out the whole or a part of an overseas development
project in accordance with paragraph 6 (1) (d),
the Australian private organization or Australian private consortium may lodge
with the Minister an objection to that action of the Corporation.
(3) Where an Australian private organization or an Australian private
consortium-
(a) lodges an objection with the Minister under sub-section (2) relating to
negotiations being carried on by the Corporation; and
(b) satisfies the Minister that it is able and willing to carry out the
project, or the part of the project, to which those negotiations relate,
the Minister may direct the Corporation to cease those negotiations.
(4) In considering whether to give a direction under sub-section (3), the
Minister shall take into consideration-
(a) the possible effect of the withdrawal of the Corporation from the
negotiations to which the objection relates;
(b) the reasons why the objection was made; and
(c) any other relevant matter.
(5) The Corporation shall comply with a direction of the Minister under
sub-section (3).
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 8A
Corporation not to assist Australian authorities or public consortiums to
compete against Australian private organizations or consortiums
SECT
8A. (1) Where the Corporation is aware that an Australian private
organization or an Australian private consortium is able and willing to carry
out an overseas development project or a part of an overseas development
project, the Corporation shall not take any action that would result in that
project or that part of the project being carried out, in whole or in part, by
an Australian authority or by an Australian public consortium.
(2) Where the Corporation is aware that it would be possible to form a
Corporation consortium, being a consortium in which an Australian private
organization or Australian private organizations would be included, that would
be able and willing to carry out an overseas development project or a part of
an overseas development project, the Corporation shall not take any action
that would result in that project or that part of the project being carried
out, in whole or in part, by an Australian authority or by an Australian
public consortium.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 9
Corporation not to act as prime contractor except with approval
SECT
9. (1) The Corporation shall not agree to carry out the whole, or a part, of
an overseas development project in accordance with paragraph 6 (1) (d)
unless-
(a) an Australian organization that is able and willing to carry out, on
behalf of the Corporation, some or all of the work to be carried out in
relation to the project requests it to do so; and
(b) the Minister approves its doing so.
(2) The Minister shall not give an approval for the purposes of sub-section
(1) with respect to an overseas development project unless he is satisfied
that there is no Australian private organization or Australian private
consortium able and willing to carry out the project, or the part of the
project, concerned.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 10
Powers of Corporation
SECT
10. Subject to this Act, the Corporation has power to do all things
necessary or convenient to be done for or in connexion with the performance of
its functions and, in particular, may-
(a) arrange with the Commonwealth, a State or any other person for the
provision of services to, or the performance of any other work for, the
Corporation;
(b) arrange with a person for the person, acting on behalf of the
Corporation, to provide services to, or to perform any other work for, an
Australian organization or a Corporation consortium; and
(c) charge such fees as are fair and proper with respect to the provision
of services, or the performance of any other work, by, or on behalf of, the
Corporation.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - PART III
PART III-AUSTRALIAN OVERSEAS PROJECTS CORPORATION BOARD
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 11
Establishment of Board
SECT
11. There is established by this section an Australian Overseas Projects
Corporation Board, which shall be constituted as provided by section 13.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 12
Functions of Board
SECT
12. (1) The business and other affairs of the Corporation shall be conducted
and controlled by the Board and, subject to section 14, the policy of the
Corporation with respect to any matter shall be determined by the Board.
(2) All acts and things done in the name of, or on behalf of, the
Corporation by the Board, or with the authority of the Board, shall be deemed
to have been done by the Corporation.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 13
Membership of Board
SECT
13. (1) The Board shall consist of-
(a) a Chairman;
(b) a Deputy Chairman;
(c) the Managing Director; and
(d) 5 other Directors.
(2) The Chairman, the Deputy Chairman and the Directors referred to in
paragraph (1) (d) shall be appointed by the Governor-General and shall be so
appointed as part-time Directors.
(3) At least 4 appointed Directors (of whom at least one is the Chairman or
the Deputy Chairman) shall be persons who are engaged in private industry at
the time of their appointment and appear to the Governor-General to be persons
who have experience in matters related to development projects.
(4) At least one appointed Director shall be a person who is engaged in
private industry at the time of his appointment and appears to the
Governor-General to be a person who has experience in matters related to rural
industry.
(5) An appointed Director shall hold office for such period, not exceeding 3
years, as the Governor-General specifies in his instrument of appointment.
(6) An appointed Director is eligible for re-appointment.
(7) The performance of the functions, or the exercise of the powers, of the
Board is not affected by reason of there being a vacancy or vacancies in the
membership of the Board.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 14
Questions of policy
SECT
14. (1) The Board shall keep the Minister informed of the decisions of the
Board with respect to matters of policy in relation to the performance of the
functions of the Corporation.
(2) Before adopting a policy (including an altered policy) with respect to
any matter relating to the performance of its functions, the Board shall
submit the policy for the approval of the Minister, and the Board shall not
adopt the policy without the approval of the Minister, or, except during such
time as the Minister permits, continue to pursue the policy where the
Minister, having approved the policy, subsequently withdraws his approval.
(3) If the Board fails to obtain the Minister's approval to a particular
policy or the Minister withdraws his approval of a particular policy, the
Board shall endeavour to reach agreement with the Minister as to the policy to
be adopted by the Board with respect to the matter of policy concerned and, in
the event of agreement not being reached within a time that the Minister
considers reasonable, the Minister may, by writing signed by him, determine a
policy to be adopted by the Board with respect to that matter, and the Board
shall adopt that policy.
(4) Nothing in this section shall be construed-
(a) as requiring the approval of the Minister to the Corporation's entering
into a particular contract or giving a particular guarantee; or
(b) as empowering the Minister to determine that the Corporation shall or
shall not enter into a particular contract or give a particular guarantee,
but the Corporation shall not enter into a particular contract, or give a
particular guarantee, contrary to a policy approved or determined by the
Minister under this section.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 15
Delegation by Board
SECT
15. (1) The Board may, by resolution, either generally or as otherwise
provided by the resolution, delegate to a person any of its powers under this
Act, other than this power of delegation.
(2) A power so delegated, when exercised by the delegate, shall, for the
purposes of this Act, be deemed to have been exercised by the Board.
(3) A delegation of a power under this section-
(a) may be revoked by resolution of the Board (whether or not constituted
by the persons constituting the Board at the time the power was delegated);
(b) does not prevent the exercise of the power by the Board; and
(c) continues in force notwithstanding a change in the membership of the
Board.
(4) Section 34A of the Acts Interpretation Act 1901 applies in relation to a
delegation under this section as if the Board were a person.
(5) A certificate signed by the Chairman stating any matter with respect to
a delegation of a power under this section is prima facie evidence of that
matter.
(6) A document purporting to be a certificate mentioned in sub-section (5)
shall, unless the contrary is established, be deemed to be such a certificate
and to have been duly given.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 16
Remuneration and allowances
SECT
16. (1) An appointed Director shall be paid such remuneration as is
determined by the Remuneration Tribunal, but, if no determination of that
remuneration is in operation, he shall be paid such remuneration as is
prescribed.
(2) An appointed Director shall be paid such allowances as are prescribed.
(3) This section has effect subject to the Remuneration Tribunals Act 1973.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 17
Resignation
SECT
17. An appointed Director, or an acting Director, may resign his office by
writing under his hand delivered to the Minister.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 18
Termination of appointment
SECT
18. (1) The Governor-General may terminate the appointment of an appointed
Director for misbehaviour or physical or mental incapacity.
(2) If an appointed Director-
(a) becomes bankrupt, applies to take the benefit of any law for the relief
of bankrupt or insolvent debtors, compounds with his creditors or makes an
assignment of his remuneration for their benefit;
(b) is absent, except with the permission of the Minister, from 3
consecutive meetings of the Board; or
(c) fails to comply with his obligations under sub-section (3),
the Governor-General shall, by notice published in the Gazette, declare that
the office of that Director is vacant, and thereupon the office shall be
deemed to be vacant.
(3) An appointed Director, or an acting Director, who has a direct or
indirect pecuniary interest in a matter considered or about to be considered
by the Corporation, otherwise than as a member of, and in common with the
other members of, an incorporated company which consists of more than 25
persons and of which he is not a director, shall, as soon as possible after
the relevant facts have come to his knowledge, disclose the nature of his
interest at a meeting of the Board.
(4) A disclosure under sub-section (3) shall be recorded in the minutes of
the Board and the Director or acting Director, as the case may be, shall not
be present during any deliberation of the Board with respect to that matter.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 19
Acting appointments
SECT
19. (1) Where there is a vacancy in the office of Chairman, or the Chairman
is, or is expected to be, unable (whether on account of illness or otherwise)
to attend meetings of the Board, the Minister may appoint the Deputy Chairman
or, subject to sub-section (4), another person to be acting Chairman of the
Board until the filling of the vacancy or during the inability, as the case
may be.
(2) Where there is a vacancy in the office of Deputy Chairman, or the Deputy
Chairman is, or is expected to be, unable (whether on account of illness or
otherwise) to attend meetings of the Board, the Minister may, subject to
sub-section (4), appoint a person to be acting Deputy Chairman until the
filling of the vacancy or during the inability, as the case may be.
(3) Where there is a vacancy in the office of an appointed Director (other
than the Chairman or Deputy Chairman), or an appointed Director (other than
the Chairman or Deputy Chairman) is unable (whether on account of illness or
otherwise) to attend meetings of the Board, the Minister may, subject to
sub-section (4), appoint a person to be an acting Director in relation to the
vacancy or in the place of the appointed Director until the filling of the
vacancy or during the inability, as the case may be.
(4) A person may be appointed under this section as acting Chairman or as
acting Deputy Chairman whether or not he is a member of the Board, but the
Managing Director or a person acting as Managing Director shall not be so
appointed.
(5) For the purposes of this section-
(a) there shall be deemed to be a vacancy in the office of Deputy Chairman
at any time when the Deputy Chairman is acting Chairman; and
(b) there shall be deemed to be a vacancy in the office of an appointed
Director (other than the Chairman or Deputy Chairman) at any time when the
person occupying that office is acting Chairman or acting Deputy Chairman.
(6) An Acting Chairman, an acting Deputy Chairman or other acting Director
appointed by reason of the office of Chairman, Deputy Chairman or other
appointed Director, as the case may be, being vacant shall not continue in
office after the expiration of 12 months after the occurrence of the vacancy.
(7) The Minister may-
(a) determine the terms and conditions of appointment of a person appointed
under this section; and
(b) at any time terminate such an appointment.
(8) The validity of a decision of the Board shall not be questioned in any
proceedings on a ground arising from the fact that the occasion for the
appointment of a person purporting to be appointed under this section had not
arisen or an appointment under this section had ceased to have effect.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 20
Meetings of Board
SECT
20. (1) The Board shall hold such meetings as are necessary for the
performance of its functions.
(2) The Chairman or, if the Chairman is unable (whether on account of
illness or otherwise) to perform the functions of his office, the Deputy
Chairman, may at any time convene a meeting of the Board.
(3) The Chairman or, if the Chairman is unavailable (whether on account of
illness or otherwise) to perform the functions of his office, the Deputy
Chairman, shall convene a meeting of the Board upon the receipt of a request
in writing from not less than 3 Directors.
(4) The Chairman shall preside at all meetings of the Board at which he is
present.
(5) If the Chairman is not present at a meeting of the Board, the Deputy
Chairman shall, if present at the meeting, preside at the meeting.
(6) If neither the Chairman nor the Deputy Chairman is present at a meeting
of the Board, the Directors present shall elect one of their number to preside
at the meeting.
(7) At a meeting of the Board, 5 Directors constitute a quorum.
(8) Questions arising at a meeting of the Board shall be determined by a
majority of the votes of the Directors present and voting.
(9) A Director presiding at a meeting of the Board has a deliberative vote
and, in the event of an equality of votes, also has a casting vote.
(10) In this section-
(a) a reference to the Chairman shall, if there is an acting Chairman, be
read as a reference to the acting Chairman;
(b) a reference to the Deputy Chairman shall, if there is an acting Deputy
Chairman, be read as a reference to the acting Deputy Chairman; and
(c) a reference to a Director shall be read as including a reference to an
acting Director and to an acting Managing Director.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - PART IV
PART IV-MANAGING DIRECTOR AND STAFF
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - DIVISION 1
Division 1-Managing Director
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 21
Managing Director
SECT
21. There shall be a Managing Director of the Corporation.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 22
Duty of Managing Director
SECT
22. The Managing Director shall, under the Board, manage the Corporation.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 23
Appointment and term of office
SECT
23. (1) The Managing Director shall be appointed by the Governor-General.
(2) A person shall not be appointed as the Managing Director unless he
appears to the Governor-General to be a person who has experience in matters
related to development projects.
(3) A person appointed as Managing Director shall hold office for such
period, not exceeding 5 years, as the Governor-General specifies in his
instrument of appointment.
(4) A person appointed as Managing Director is eligible for re-appointment.
(5) A person who has attained the age of 65 years shall not be appointed or
re-appointed as Managing Director and a person shall not be appointed or
re-appointed as Managing Director for a period that extends beyond the date on
which he will attain the age of 65 years.
(6) The Managing Director holds office on such terms and conditions (if any)
in respect of matters not provided for by this Act as are determined by the
Governor-General.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 24
Managing Director not to engage in other work
SECT
24. The Managing Director shall not engage in paid employment outside the
duties of his office except with the approval of the Minister.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 25
Remuneration and allowances
SECT
25. (1) The Managing Director shall be paid such remuneration as is
determined by the Remuneration Tribunal, but, if no determination of that
remuneration by the Tribunal is in operation, he shall be paid such
remuneration as is prescribed.
(2) The Managing Director shall be paid such allowances as are prescribed.
(3) This section has effect subject to the Remuneration Tribunals Act 1973.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 26
Leave of absence
SECT
26. The Minister may grant leave of absence to the Managing Director on such
terms and conditions as to remuneration or otherwise as the Minister
determines.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 27
Resignation
SECT
27. The Managing Director, or a person who is acting as Managing Director,
may resign his office by writing under his hand delivered to the Minister.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 28
Termination of appointment
SECT
28. (1) The Governor-General may terminate the appointment of the Managing
Director for misbehaviour or physical or mental incapacity.
(2) If the Managing Director-
(a) becomes bankrupt, applies to take the benefit of any law for the relief
of bankrupt or insolvent debtors, compounds with his creditors or makes an
assignment of his remuneration for their benefit;
(b) except with the approval of the Minister, engages in paid employment
outside the duties of his office;
(c) is absent from duty, except on leave of absence granted by the
Minister, for 14 consecutive days or for 28 days in any 12 months; or
(d) in any way, otherwise than as a member of, and in common with the other
members of, an incorporated company which consists of more than 25 persons and
of which he is not a director, becomes interested in a contract entered into
by or on behalf of the Corporation,
the Governor-General shall, by notice published in the Gazette, declare that
the office of the Managing Director is vacant, and thereupon the office shall
be deemed to be vacant.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 29
Acting Managing Director
SECT
29. (1) Where there is a vacancy in the office of Managing Director, whether
or not an appointment has previously been made to the office, or the Managing
Director is, or is expected to be, absent from duty or from Australia, the
Minister may appoint another person (not being an appointed Director or an
acting Director), to be acting Managing Director until the filling of the
vacancy or during the absence, and, when a person is so acting as Managing
Director, he shall have and may exercise the powers and perform the functions
of the Managing Director (including powers and functions delegated to the
Managing Director under section 15) and may attend and vote at meetings of the
Board as if he were the Managing Director.
(2) An acting Managing Director appointed by reason of the office of the
Managing Director being vacant shall not continue in office after the
expiration of 12 months after the occurrence of the vacancy.
(3) The Minister may-
(a) determine the terms and conditions of appointment of a person appointed
under this section; and
(b) at any time terminate such an appointment.
(4) The validity of an act or thing done by a person appointed, or
purporting to have been appointed, under this section, including the
attendance and voting of such a person at a meeting of the Board, shall not be
questioned in any proceedings on a ground arising from the fact that the
occasion for the appointment had not arisen or that the appointment had ceased
to have effect.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 30
Retention of Public Service rights
SECT
30. Where the Managing Director was, immediately before his appointment or
engagement, an officer of the Australian Public Service or a person to whom
the
Officers' Rights Declaration Act 1928*2* applied-
(a) he retains his existing and accruing rights;
(b) for the purpose of determining those rights, his service under this Act
shall be taken into account as if it were service in the Australian Public
Service; and
(c) the Officers' Rights Declaration Act 1928*2* applies as if this Act and
this section had been specified in the Schedule to that Act.
*2* Ss. 30 and 32-The Officers' Rights Declaration Act 1928 was repealed by
the Public Service Amendment Act 1978 (No. 170, 1978).
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - DIVISION 2
Division 2-Staff
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 31
Employees
SECT
31. (1) The Corporation may engage such employees as the Board thinks
necessary for the purposes of this Act.
(2) The terms and conditions of employment (in respect of matters not
provided for by this Act) of persons engaged under this section are such as
are, subject to the approval of the Public Service Board, determined by the
Board.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 32
Rights of public servants employed under this Act
SECT
32. Where an employee of the Corporation was, immediately before his
engagement by the Corporation under section 31, an officer of the Australian
Public Service or a person to whom the Officers' Rights Declaration Act
1928*2* applied-
(a) he retains his existing and accruing rights;
(b) for the purpose of determining those rights, his service under this Act
shall be taken into account as if it were service in the Australian Public
Service; and
(c) that Act applies as if this Act and this section had been specified in
the Schedule to that Act.
*2* Ss. 30 and 32-The Officers' Rights Declaration Act 1928 was repealed by
the Public Service Amendment Act 1978 (No. 170, 1978).
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - PART V
PART V-FINANCE
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 33
Financial policy of Corporation
SECT
33. In the performance of its functions and in the conduct of its business,
the Corporation shall act in accordance with sound commercial principles and
shall pursue a policy directed towards securing, in each financial year,
revenues sufficient-
(a) to meet the expenditure, and provision for expenditure, of the
Corporation properly chargeable to revenue of that year, including provision
in respect of income tax payable by the Corporation in relation to that
financial year; and
(b) to permit the payment to the Commonwealth of a reasonable return on the
capital of the Corporation.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 34
Capital of Corporation
SECT
34. (1) The Minister for Finance shall, in accordance with this section, pay
$2,000,000 to the Corporation out of the Consolidated Revenue Fund, which is
appropriated accordingly.
(2) The Minister for Finance shall pay the amount specified in sub-section
(1) to the Corporation in annual instalments of $1,000,000 and shall pay the
first such instalment as soon as practicable after the commencement of this
Act.
(3) The capital of the Corporation at any time is the sum of-
(a) each instalment that has been paid to the Corporation under sub-section
(2);
(b) any amounts paid to the Corporation by the Minister for Finance out of
moneys appropriated by the Parliament for the purpose of providing further
capital for the Corporation; and
(c) any amounts transferred from the General Reserve of the Corporation to
the capital account of the Corporation in pursuance of directions given under
sub-section (4),
less the sum of any amounts of capital repaid to the Commonwealth by the
Corporation.
(4) The Minister may, from time to time, direct the Board to transfer a
specified amount from the General Reserve of the Corporation to the capital
account of the Corporation, and the Board shall comply with such a direction.
(5) In giving a direction under sub-section (4), the Minister shall have
regard to any advice that the Board has furnished to him in relation to the
financial affairs of the Corporation.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 35
Payments to the Commonwealth
SECT
35. (1) Interest is not payable to the Commonwealth on the capital of the
Corporation but the Corporation shall pay to the Commonwealth, out of the
profits of the Corporation for a financial year, such amount as the Minister
determines.
(2) The capital of the Corporation is repayable to the Commonwealth at such
times and in such amounts as the Minister determines.
(3) In making a determination under sub-section (1) or (2), the Minister
shall have regard to any advice that the Board has furnished to him in
relation to the financial affairs of the Corporation.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 36
Surplus profits of the Corporation
SECT
36. (1) The profits of the Corporation for a financial year (other than any
amount paid to the Commonwealth in accordance with a determination under
sub-section 35 (1)) shall be applied in such manner as the Minister
determines.
(2) In making a determination under sub-section (1), the Minister shall have
regard to any advice that the Board has furnished to him in relation to the
financial affairs of the Corporation.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 37
Borrowing by the Corporation
SECT
37. (1) The Corporation may, with the approval of the Treasurer, borrow
moneys that are from time to time necessary for the exercise of its powers or
the performance of its duties or functions under this Act.
(2) The Minister for Finance may, on behalf of the Commonwealth, out of
moneys appropriated by the Parliament for the purpose, lend to the
Corporation, at such rate of interest and on such other terms and conditions
as he determines, moneys that the Corporation is authorized to borrow under
sub-section (1).
(3) The Corporation may give security over the whole or any part of its
assets for the repayment of amounts borrowed under this section and the
payment of interest on amounts so borrowed.
(4) The Treasurer may, on behalf of the Commonwealth, guarantee the
repayment by the Corporation of amounts borrowed under this section otherwise
than from the Commonwealth and the payment of interest on amounts so borrowed.
(5) The Corporation shall not borrow moneys except in accordance with this
section.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 38
Guarantee by the Commonwealth
SECT
38. The Commonwealth is responsible for the payment of all moneys due by the
Corporation other than moneys due in respect of moneys borrowed under section
37, but nothing in this section authorizes a creditor or other person claiming
against the Corporation to sue the Commonwealth in respect of his claim.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 39
Bank accounts
SECT
39. (1) The Corporation may open and maintain an account or accounts with an
approved bank or approved banks and shall maintain at all times at least one
such account.
(2) The Corporation shall pay all moneys of the Corporation, including
moneys borrowed by the Corporation, into an account referred to in this
section.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 40
Application of moneys
SECT
40. (1) Subject to sub-section (2), the moneys of the Corporation shall be
applied only-
(a) in payment or discharge of the costs, expenses and other obligations of
the Corporation;
(b) in payment of remuneration and allowances payable to any person
appointed or employed under this Act; and
(c) in making payments to the Commonwealth as provided by this Act.
(2) Moneys of the Corporation not immediately required for the purposes of
the Corporation may be invested-
(a) on deposit with an approved bank;
(b) in securities of the Commonwealth; or
(c) in any other manner approved by the Treasurer.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 41
Proper accounts to be kept
SECT
41. The Board shall cause to be kept proper accounts and records of the
transactions and affairs of the Corporation in accordance with the accounting
principles generally applied in commercial practice and shall do all things
necessary to ensure that all payments out of its moneys are correctly made and
properly authorized and that adequate control is maintained over the assets
of, or in the custody of, the Corporation and over the incurring of
liabilities by the Corporation.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 42
Contracts
SECT
42. (1) The Corporation shall not, except with the approval of the Minister,
enter into a contract involving the payment or receipt by the Corporation of
an amount exceeding $100,000 or, if a higher amount is prescribed, that higher
amount.
(2) Sub-section (1) does not apply to contracts relating to overseas
development projects entered into in the course of carrying out the functions
of the Corporation.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 43
Assessed net commercial risk
SECT
43. (1) In this section, "assessed net commercial risk", in relation to the
Corporation, means the maximum financial liability, as assessed by the Board,
that the Corporation might be required to discharge in respect of contracts
that have been, or are to be, entered into by the Corporation in connection
with the performance of its functions.
(2) The Corporation shall carry on its business so that its assessed net
commercial risk does not, at any time, exceed $250,000,000 or, if a higher
amount is prescribed, that higher amount.
(3) The Board shall make an assessment under sub-section (1) of the assessed
net commercial risk of the Corporation whenever it considers it necessary to
do so for the purpose of ensuring compliance by the Corporation with
sub-section (2) and, in any event, whenever it is considering a proposal,
being a proposal likely to be approved by the Board, to-
(a) carry out the whole, or a part, of an overseas development project,
whether as principal or agent;
(b) join with another person or other persons in the formation of an
association for the purpose of carrying out the whole, or a part, of an
overseas development project; or
(c) assist, or further assist, an Australian organization to carry out an
overseas development project.
(4) In making any assessment under this section of the maximum financial
liability of the Corporation in respect of existing and proposed contracts,
the Board shall-
(a) act in accordance with generally accepted commercial practice; and
(b) assess the likelihood of the Corporation being required to discharge
liabilities under all such contracts and, if it considers that the Corporation
is not likely to be required to discharge liabilities under all such
contracts, make appropriate allowance accordingly.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 44
Audit
SECT
44. (1) The Auditor-General shall inspect and audit the accounts and records
of financial transactions of the Corporation and records relating to assets
of, or in the custody of, the Corporation and shall forthwith draw the
attention of the Minister to any irregularity disclosed by the inspection and
audit that is, in the opinion of the Auditor-General, of sufficient importance
to justify his so doing.
(2) The Auditor-General may, in his discretion, dispense with all or any
part of the detailed inspection and audit of any accounts or records referred
to in sub-section (1).
(3) The Auditor-General shall, at least once in each year, report to the
Minister the results of the inspection and audit carried out under sub-section
(1).
(4) The Auditor-General or a person authorized by him is entitled at all
reasonable times to full and free access to all accounts, records, documents
and papers of the Corporation relating directly or indirectly to the receipt
or payment of moneys by the Corporation or to the acquisition, receipt,
custody or disposal of assets by the Corporation.
(5) The Auditor-General or a person authorized by him may make copies of, or
take extracts from, any such accounts, records, documents or papers.
(6) The Auditor-General or a person authorized by him may require any person
to furnish him with such information in the possession of the person or to
which the person has access as the Auditor-General or authorized person
considers necessary for the purposes of the functions of the Auditor-General
under this Act, and the person shall comply with the requirements.
(7) A person who contravenes sub-section (6) is guilty of an offence
punishable, upon conviction, by a fine not exceeding $200.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 45
Liability to taxation
SECT
45.*3* (1) The Corporation is subject to taxation under the laws of the
Commonwealth.
(2) Subject to sub-section (3), the Corporation is not subject to taxation
under a law of a State or of a Territory.
(3) The regulations may provide that sub-section (2) does not apply in
relation to taxation under a specified law of a State or Territory.
(4) The Corporation is not a public authority for the purposes of paragraph
23 (d) of the Income Tax Assessment Act 1936.
*3* S. 45-Regulation 5 of the Australian Overseas Projects Corporation
Regulations (Statutory Rules 1980 No. 232) provides as follows:
"5. Sub-section 45 (2) does not apply in relation to taxation under each of
the following laws:
(a) the Pay-roll Tax Act, 1971 of the State of New South Wales as amended
and in force from time to time;
(b) the Pay-roll Tax Act 1971 of the State of Victoria as amended and in
force from time to time;
(c) the Pay-roll Tax Act 1971 of the State of Queensland as amended and in
force from time to time;
(d) the Pay-roll Tax Act, 1971 of the State of South Australia as amended
and in force from time to time;
(e) the Pay-roll Tax Act, 1971 of the State of Western Australia as
amended and in force from time to time;
(f) the Pay-roll Tax Act 1971 of the State of Tasmania as amended and in
force from time to time;
(g) the Pay-roll Tax Ordinance 1978 of the Northern Territory or that
Ordinance as amended and in force from time to time."
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - PART VI
PART VI-MISCELLANEOUS
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 46
Reports to Minister
SECT
46. The Board shall-
(a) from time to time inform the Minister concerning the general conduct of
the operations of the Corporation; and
(b) furnish to the Minister such information relating to those operations,
and such information relating to operations to be carried out in the future,
as the Minister requires.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 47
Annual report of Corporation
SECT
47. (1) The Board shall, as soon as practicable after each 30 June, prepare
and furnish to the Minister, for presentation to the Parliament, a report of
the operations of the Corporation during the year ended on that date, together
with financial statements in respect of that year in such form as the Minister
for Finance approves.
(2) The report shall set out-
(a) all directions given by the Minister to the Corporation under
sub-section 8 (3) or 34 (4); and
(b) all determinations made by the Minister under sub-section 14 (3), 35
(1), 35 (2) or 36 (1),
during the year to which the report relates.
(3) Before furnishing financial statements to the Minister, the Board shall
submit them to the Auditor-General, who shall report to the Minister-
(a) whether the statements are based on proper accounts and records;
(b) whether the statements are in agreement with the accounts and records
and show fairly the financial transactions and the state of affairs of the
Corporation;
(c) whether the receipt, expenditure, and investment of moneys, and the
acquisition and disposal of assets, by the Corporation during the year have
been in accordance with this Act; and
(d) as to such other matters arising out of the statements as the
Auditor-General considers should be reported to the Minister.
(4) The Minister shall cause a copy of the report and financial statements
of the Corporation, together with a copy of the report of the Auditor-General,
to be laid before each House of the Parliament within 15 sitting days of that
House after their receipt by the Minister.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 48
Validity of contracts and guarantees
SECT
48. Without prejudice to the duty of the Corporation to comply with the
provisions of this Act and to observe the limits of its powers under this Act,
a contract entered into, or a guarantee given, by the Corporation is not
invalidated by reason of a provision of this Act not having been complied with
by the Corporation in relation to the contract or guarantee or by reason of
the contract or guarantee not being within those limits.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 49
Delegation by Minister
SECT
49. (1) The Minister may, either generally or as otherwise provided by the
instrument of delegation, by writing signed by him, delegate to a person any
of his powers under this Act, other than this power of delegation.
(2) A power so delegated, when exercised by the delegate, shall, for the
purposes of this Act, be deemed to have been exercised by the Minister.
(3) A delegation under this section does not prevent the exercise of a power
by the Minister.
AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 - SECT 50
Regulations
SECT
50. The Governor-General may make regulations, not inconsistent with this
Act, prescribing all matters which by this Act are required or permitted to be
prescribed, or which are necessary or convenient to be prescribed for carrying
out or giving effect to this Act.