Federal Register of Legislation - Australian Government

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Act No. 39 of 1970 as amended, taking into account amendments up to Act No. 43 of 1993
Registered 07 Dec 2009
Start Date 09 Nov 1993
End Date 30 Jun 1997
Date of repeal 25 Mar 2015
Repealed by Statute Law Revision Act (No. 1) 2015

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970
- Updated as at 2 December 1996 (HISTACT CHAP 3080 #DATE 02:12:1996)

*1* The Snowy Mountains Engineering Corporation Act 1970 as shown in this reprint comprises Act No. 39, 1970 amended as indicated in the Tables below.
Table of Acts
Act Date Date of Application
Number and of assent commencement saving or
year transitional
provisions
Snowy Mountains Engineering Corporation Act 1970
39, 1970 24 June 1970 24 June 1970
Snowy Mountains Engineering Corporation Act (No. 2) 1970
125, 1970 11 Nov 1970 11 Nov 1970 -
Salaries Act 1971 (a)
22, 1971 4 May 1971 14 Jan 1971 -
Snowy Mountains Engineering Corporation Act 1973
74, 1973 18 June 1973 18 June 1973 -
Statute Law Revision Act 1973
216, 1973 19 Dec 1973 31 Dec 1973 Ss. 9 (1)
and 10
Administrative Changes (Consequential Provisions) Act 1978
36, 1978 12 June 1978 12 June 1978 S. 8
Snowy Mountains Engineering Corporation Amendment Act 1985
101, 1985 3 Oct 1985 14 Nov 1985 (see Gazette 1985,
No. S461) S. 9
Statute Law (Miscellaneous Provisions) Act (No. 1) 1986
76, 1986 24 June 1986 S. 3: Royal Assent (b)
S. 9
Government Business Enterprises (Miscellaneous Reforms) Act 1988
123, 1988 14 Dec 1988 Part II (ss. 3-12): 26 Jan
1989
Part VI (ss. 26-31): 1 Jan
1989 (see Gazette 1988, No.
S399)
Part VII (ss. 32-37): 14 Nov
1988
Remainder: Royal Assent
-
Snowy Mountains Engineering Corporation (Conversion into Public
Company) Act 1989
66, 1989 19 June 1989 Ss. 4, 6 (1), 7 (1), 8-10,12,
14 (2), 15 and 16: 1 July 1989
(see Gazette 1989, No. S223)
S. 7 (2): 1 July 1989
S. 14 (1): 30 June 1989 (see
Gazette 1989, No. S223)
Remainder: Royal Assent
-
Snowy Mountains Engineering Corporation Limited Sale Act 1993
54, 1993 27 Oct 1993 S. 44: 9 Nov 1993 (see Gazette
1993, No. S334) (c)
-
Statute Law Revision Act 1996 43, 1996 25 Oct 1996 Schedule 2 (item 98): (d) - (a) The Salaries Act 1971 was repealed by section 7 of the Statute Law Revision Act 1973. That section provides that the repeal does not affect the operation of any amendment made by the repealed Act or any provision made by it for the citation of an Act as so amended.
(b) The Snowy Mountains Engineering Corporporation Act 1970 was amended by section 3 only of the Statute Law (Miscellaneous Provisions) Act (No. 1) 1986, subsection 2 (1) of which provides as follows:
"(1) Subject to this section, this Act shall come into operation on the day on which it receives the Royal Assent."
(c) The Snowy Mountains Engineering Corporation Act 1970 was amended by section 44 only of the Snowy Mountains Engineering Corporation Limited Sale Act 1993, subsection 2 (2) of which provides as follows:
"(2) Sections 5 to 36 (inclusive) and 39 to 44 (inclusive) commence on the sale day."
(d) The Snowy Mountains Engineering Corporation Act 1970 was amended by Schedule 2 (item 98) only of the Statute Law Revision Act 1996, subsection 2(2) of which provides as follows: " (2) Each item in Schedule 2 commences or is taken to have commenced (as the case requires) at the time specified in the note at the end of the item." Item 98 is taken to have commenced immediately after the commencement of section 44 of the Snowy Mountains Engineering Corporation Limited Sale Act 1993. Section 44 came into operation on 9 November 1993 (see Gazette 1993 No. S334) Table of Amendments
ad=added or inserted am=amended rep=repealed rs=repealed and substituted
Provision affected How affected
Title rs. No. 66, 1989
S. 3 rep. No. 216, 1973
ad. No. 66, 1989
am. No. 54, 1993
Ss. 3A, 3B ad. No. 66, 1989
rep. No. 54, 1993
Ss. 3C, 3D ad. No. 66, 1989
S. 4 am. No. 216, 1973
rs. No. 101, 1985
rep. No. 66, 1989
S. 5 rep. No. 66, 1989
Part II (s. 6) rep. No. 66, 1989
S. 6 am. No. 101, 1985; No. 66, 1989
rep. No. 66, 1989
Ss. 7-9 rep. No. 101, 1985
S. 10 am. No. 125, 1970; No. 22, 1971
rep. No. 101, 1985
Ss. 11-14 rep. No. 101, 1985
S. 15 am. No. 216, 1973
rep. No. 101, 1985
S. 16 am. No. 74, 1973; No. 36, 1978
rep. No. 101, 1985
Heading to Part III
am. No. 66, 1989
rep. No. 43, 1996 S. 17 am. No. 74, 1973; No. 101, 1985; No. 66,
1989
rep. No. 54, 1993
S. 18 rs. No. 101, 1985; No. 66, 1989
rep. No. 54, 1993
Part IIIA (ss. 18A-18D)
ad. No. 66, 1989
Ss. 18A-18D ad. No. 66, 1989
Part IV (ss. 19-23) rep. No. 101, 1985
Part IV (ss. 19-29) ad. No. 101, 1985
Part IV (ss. 19-29) rep. No. 66, 1989
Part IV (ss. 19-26) ad. No. 66, 1989
Ss. 19-22 rs. No. 101, 1985; No. 66, 1989
S. 23 rs. No. 101, 1985; No. 66, 1989
am. No. 54, 1993
Ss. 24-26 rs. No. 101, 1985; No. 66, 1989
Ss. 27-29 rs. No. 101, 1985
rep. No. 66, 1989
Part V (ss. 24-34) rep. No. 101, 1985
Part V (ss. 30-39) ad. No. 101, 1985
Part V (ss. 30-32, 32A, 33-35, 38, 38A, 39)
rep. No. 66, 1989
S. 24 rep. No. 101, 1985
Ss. 25, 26 am. No. 36, 1978
rep. No. 101, 1985
S. 27 rs. No. 74, 1973
am. No. 36, 1978
rep. No. 101, 1985
S. 28 rep. No. 101, 1985
S. 29 am. No. 36, 1978
rep. No. 101, 1985
Ss. 30, 31 rs. No. 101, 1985
rep. No. 66, 1989
S. 32 am. No. 74, 1973
rs. No. 101, 1985; No. 123, 1988
rep. No. 66, 1989
S. 32A ad. No. 123, 1988
rep. No. 66, 1989
S. 33 rs. No. 101, 1985
am. No. 123, 1988
rep. No. 66, 1989
Ss. 34, 35 rs. No. 101, 1985; No. 123, 1988
rep. No. 66, 1989
Ss. 36, 37 rs. No. 101, 1985
rep. No. 123, 1988
S. 38 ad. No. 101, 1985
rep. No. 66, 1989
S. 38A ad. No. 123, 1988
rep. No. 66, 1989
S. 39 rs. No. 101, 1985
am. No. 76, 1986
rep. No. 66, 1989
Part VA (ss. 39A-39F)
ad. No. 66, 1989
rep. No. 54, 1993
Ss. 39A-39F ad. No. 66, 1989
rep. No. 54, 1993
Part VB (ss. 39G-39L)
ad. No. 66, 1989
Ss. 39G-39K ad. No. 66, 1989
S. 39L ad. No. 66, 1989
rep. No. 54, 1993
Part VC (ss. 39M-39Q)
ad. No. 66, 1989
Ss. 39M-39Q ad. No. 66, 1989
Part VI (ss. 35-37, 39, 40)
rep. No. 101, 1985
Part VI (ss. 40-50)
ad. No. 101, 1985
Part VI (ss. 40-44, 44A-44E, 45-50)
rep. No. 66, 1989
S. 35 rep. No. 101, 1985
S. 36 am. No. 36, 1978
rep. No. 101, 1985
S. 37 am. No. 216, 1973
rep. No. 101, 1985
S. 38 rep. No. 216, 1973
S. 39 rep. No. 101, 1985
S. 40 rs. No. 101, 1985
rep. No. 66, 1989
Ss. 41-43 ad. No. 101, 1985
rep. No. 66, 1989
S. 44 ad. No. 101, 1985
rs. No. 76, 1986
rep. No. 66, 1989
Ss. 44A-44E ad. No. 76, 1986
rep. No. 66, 1989
S. 45 ad. No. 101, 1985
am. No. 76, 1986
rep. No. 66, 1989
Ss. 46-50 ad. No. 101, 1985
rep. No. 66, 1989
Part VII (ss. 51-55)
ad. No. 101, 1985
Ss. 51, 52 ad. No. 101, 1985
rs. No. 66, 1989
S. 52A ad. No. 123, 1988
rep. No. 66, 1989
S. 53 ad. No. 101, 1985
rs. No. 66, 1989
S. 54 ad. No. 101, 1985
rs. No. 66, 1989
rep. No. 54, 1993
Ss. 54A, 54B ad. No. 66, 1989
rep. No. 54, 1993
S. 55 ad. No. 101, 1985
#ADD 24:1:1997

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - TABLE OF PROVISIONS

TABLE

TABLE OF PROVISIONS
Section
PART I - PRELIMINARY
1. Short title
2. Commencement
3. Interpretation
3C. Operation of Act
3D. Extension to external Territories
PART IIIA - CREATION OF CAPITAL STRUCTURE
AND OTHER STEPS PRIOR TO CONVERSION OF
SMEC INTO A PUBLIC COMPANY
18A. Share capital of SMEC
18B. Issue of shares
18C. SMEC to apply to be registered as company etc.
18D. New name of SMEC
PART IV - CONVERSION OF SMEC INTO A PUBLIC COMPANY
19. Effect of Part - summary
20. SMEC taken to be registered under Companies Act
21. Memorandum and articles of SMEC
22. Membership of SMEC
23. Application of certain provisions of Companies Act
24. Accounting records
25. Accounts
26. Operation of section 25B of Acts Interpretation Act
PART VB - STAFF MATTERS
39G. Employment of staff members continues after transition
39H. Act not to affect certain matters relating to staff
members
39J. Effect of sections 39G and 39H
39K. Variation of terms and conditions of employment
PART VC - TAXATION MATTERS
39M. Interpretation
39N. Exemptions relating to exempt matters
39P. Authorised person may certify in relation to exemptions
39Q. SMEC taken to have had share capital for purposes of
Income Tax Assessment Act
PART VII - MlSCELLANEOUS
51. SMEC not public authority etc.
52. Judicial notice of SMEC's seal
53. Compensation for acquisition of property
55. Regulations

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - LONG TITLE

SECT

An Act relating to the constitution of SMEC as a
public company, and for other purposes

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - PART I
PART I - PRELIMINARY

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 1
Short title

SECT

1. This Act may be cited as the Snowy Mountains Engineering Corporation Act 1970.*1* SEE NOTES TO FIRST ARTICLE OF THIS CHAPTER .

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 2
Commencement

SECT

2. This Act shall come into operation on the day on which it receives the Royal Assent.*1* SEE NOTES TO FIRST ARTICLE OF THIS CHAPTER .

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 3
Interpretation

SECT

3. In this Act, unless the contrary intention appears:
"articles" means articles of association;
"Australia" includes the external Territories;
"authorised person" means:
(a) the Minister; or
(b) the holder of an authorising office;
"authorising office" means an office, in the Department, which is declared by writing signed by the Minister to be an authorising office for the purposes of this definition;
"employment", in relation to a staff member, means employment by, or service with, SMEC;
"member", in relation to SMEC at any time before the transition, includes a Director;
"memorandum" means memorandum of association;
"SMEC" means the body corporate that, at the commencement of this section, exists, because of this Act, under the name "Snowy Mountains Engineering Corporation";
"share", in relation to SMEC, means a share in the share capital of SMEC;
"staff member" means a person who, immediately before the transition, is:
(a) the Managing Director of SMEC; or
(b) an officer or employee of SMEC;
"transition" means the commencement of Part IV, being the Part substituted by section 12 of the Snowy Mountains Engineering Corporation (Conversion into Public Company) Act 1989.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 3C
Operation of Act

SECT

3C. This Act applies both within and outside Australia.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 3D
Extension to external Territories

SECT

3D. This Act extends to all external Territories.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - PART IIIA
PART IIIA - CREATION OF CAPITAL STRUCTURE AND OTHER STEPS
PRIOR TO CONVERSION OF SMEC INTO A PUBLIC COMPANY

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 18A
Share capital of SMEC

SECT

18A. (1) As from the commencement of this Part, SMEC shall have a share capital divided into shares of $1 each.

(2) As soon as practicable after the commencement of this Part, the Minister shall determine, in writing, whether SMEC is to issue shares under section 18B at par or at a premium per share of a specified amount.

(3) The amount of SMEC's share capital shall be the number of whole dollars in the amount ascertained in accordance with the formula:
$5,207,807
Issue Price
where:
Issue Price is the number of dollars in the amount that is the sum of:
(a) $1, being the nominal value of each of SMEC's shares; and
(b) the amount of the premium per share (if any) determined under subsection (2).

(4) As from the transition, this section has effect subject to the Companies Act 1981.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 18B
Issue of shares

SECT

18B. (1) As soon as practicable after the determination under subsection 18A (2) is made, SMEC shall apply an amount equal to the amount of its share capital in paying up, in full, shares in SMEC.

(2) As soon as practicable after complying with subsection (1), SMEC shall issue the shares paid up under that subsection:
(a) to the Commonwealth; or
(b) to nominees of the Commonwealth;
as the Minister directs in writing.

(3) The issue of shares under subsection (2) discharges in full SMEC's obligations to repay to the Commonwealth the capital that SMEC has by virtue of section 41.

(4) The shares issued under subsection (2) shall be taken to have been issued for valuable consideration other than cash, being the discharge effected by subsection (3).

(5) If, under the determination made under subsection 18A (2), SMEC is to issue shares under this section at a premium, SMEC shall be taken:
(a) to have issued at a premium the shares issued under subsection (2); and
(b) to have received for those shares premiums of a total value equal to the amount by which $5,207,807 exceeds the amount of SMEC's share capital.

(6) An amount equal to the total value of the premiums that SMEC is, under paragraph (5) (b), taken to have received shall be transferred by SMEC to an account maintained by it, to be called the "share premium account".

(7) A person is not a member of SMEC at any time before the transition merely because the person holds shares in SMEC.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 18C
SMEC to apply to be registered as company etc.

SECT

18C. (1) SMEC shall, before the transition:
(a) apply to the National Companies and Securities Commission under subsection 85 (1) of the Companies Act 1981 to be registered as a company limited by shares within the meaning of that Act;
(b) apply to the National Companies and Securities Commission under subsection 55 (1) of the Companies Act 1981 for the reservation of the name "Snowy Mountains Engineering Corporation Limited"; and
(c) lodge with the National Companies and Securities Commission a proposed memorandum, and proposed articles, for SMEC.

(2) The application mentioned in paragraph (1) (a) shall, subject to the regulations, be accompanied by the documents required by subsection 85 (4) of the Companies Act 1981 to accompany such an application.

(3) The applications mentioned in paragraphs (1) (a) and (b) shall be made to the National Companies and Securities Commission by delivering them to the office of the Corporate Affairs Commission for the Australian Capital Territory, and the documents mentioned in paragraph (1) (c) and subsection (2) shall be lodged with the National Companies and Securities Commission by lodging them at that office.

(4) SMEC shall be taken to be entitled to make the applications mentioned in paragraphs (1) (a) and (b), and to lodge the documents mentioned in paragraph (1) (c) and subsection (2).

(5) The National Companies and Securities Commission shall be taken:
(a) to have been required to reserve the name "Snowy Mountains Engineering Corporation Limited" under subsection 55 (2) of the Companies Act 1981; and
(b) to have so reserved that name immediately after the making of the application mentioned in paragraph (1) (b).

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 18D
New name of SMEC

SECT

18D. (1) On the day immediately before the transition, SMEC's name is, by force of this subsection, changed to "Snowy Mountains Engineering Corporation Limited".

(2) Subsection 65 (5) of the Companies Act 1981 applies in relation to the change of name made by subsection (1) as if:
(a) SMEC were a company, within the meaning of that Act, when the change is made; and
(b) the change were made under that Act.

(3) This section has effect in spite of anything in the Companies Act 1981, but nothing in this section prevents:
(a) SMEC from later changing its name under section 65 of that Act; or
(b) the cancellation, under Division 2 of Part III of that Act, of the registration of a name.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - PART IV
PART IV - CONVERSION OF SMEC INTO A PUBLIC COMPANY

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 19
Effect of Part - summary

SECT

19. After the commencement of this Part:
(a) SMEC is a company registered under the Companies Act 1981;
(b) SMEC's name is "Snowy Mountains Engineering Corporation Limited;
(c) SMEC is a public company, and a company limited by shares, within the meaning of the Companies Act 1981; and
(d) the Companies Act 1981 applies, subject to this Act, in relation to SMEC.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 20
SMEC taken to be registered under Companies Act

SECT

20. (1) The National Companies and Securities Commission shall be taken:
(a) to have been required to grant the application mentioned in paragraph 18C (1) (a) of this Act and to register SMEC as a company under subsection 86 (2) of the Companies Act 1981;
(b) to have granted the application at the commencement of this Part;
(c) to have so registered SMEC, at the commencement of this Part:
(i) by the name "Snowy Mountains Engineering Corporation
Limited"; and
(ii) in accordance with subsections 86 (3) and (4) of the
Companies Act 1981, as a public company, and as a company limited by shares, within the meaning of that Act; and
(d) to have registered the name "Snowy Mountains Engineering Corporation Limited" in relation to SMEC at the commencement of this Part, under subsection 55 (4) of the Companies Act 1981.

(2) The date of commencement of SMEC's registration as a company under Division 4 of Part III of the Companies Act 1981 shall be taken to be the day of commencement of this Part.

(3) For the purposes of Division 4 of Part III of the Companies Act 1981, SMEC shall be taken to have been on the day before the commencement of this Part, and to be at that commencement, a corporation within the meaning of that Act.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 21
Memorandum and articles of SMEC

SECT

21. (1) As from the commencement of this Part, the proposed memorandum, and the proposed articles, lodged under paragraph 18C (1) (c):
(a) are respectively the memorandum and articles of SMEC; and
(b) bind SMEC and its members accordingly.

(2) As from the commencement of this Part, the Companies Act 1981 applies in relation to SMEC's memorandum and articles as if they had been registered as such under that Act.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 22
Membership of SMEC

SECT

22. (1) Each person who holds shares in SMEC at the commencement of this Part becomes, by force of this subsection, a member of SMEC at that commencement.

(2) A person referred to in subsection (1) is, in relation to membership of SMEC, entitled to the same rights, privileges and benefits, and is subject to the same duties, liabilities and obligations, as if the person had become a member of SMEC under SMEC's memorandum and articles.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 23
Application of certain provisions of Companies Act

SECT

23.

(2) Paragraph 86 (6) (b) and subsections 87 (4) and 90 (5) of the Companies Act 1981 do not apply in relation to SMEC.

(3) The Companies Act 1981 applies in relation to the account referred to in subsection 18B (6) as if the account were a share premium account referred to in section 119 of that Act.

(4) For the purposes of section 360 of the Companies Act 1981, a person is not a past member of SMEC merely because he or she was a Director of SMEC or acted as a Director of SMEC before the commencement of this Part.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 24
Accounting records

SECT

24. For the purposes of the Companies Act 1981, accounts and records kept under section 63F of the Audit Act 1901 (as that section applied in relation to SMEC because of this Act) shall be taken to be accounting records kept by SMEC under a provision of a previous law of the Australian Capital Territory, being a provision corresponding to section 267 of the Companies Act 1981.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 25
Accounts

SECT

25. (1) This section has effect for the purposes of:
(a) the Companies Act 1981; and
(b) the Companies (Transitional Provisions) Act 1981 as it applies in relation to, and in relation to persons and matters associated with, SMEC because of subsection 90 (6) of the Companies Act 1981.

(2) A report and financial statements that were prepared under section 63H of the Audit Act 1901 (as that section applied in relation to SMEC because of this Act) in relation to a period and furnished to the Minister on a particular day shall be taken to be a profit and loss account of SMEC that was:
(a) made out in relation to that period; and
(b) laid before SMEC at an annual general meeting of SMEC held on that day.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 26
Operation of section 25B of Acts Interpretation Act

SECT

26. Nothing in this Act or in the Companies Act 1981 affects, or is affected by, section 25B of the Acts Interpretation Act 1901 as that section applies in relation to SMEC.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - PART VB
PART VB - STAFF MATTERS

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 39G
Employment of staff members continues after transition

SECT

39G. Subject to this Part, each staff member continues, at and after the transition, to be employed by SMEC on the terms and conditions on which he or she was employed by SMEC immediately before the transition.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 39H
Act not to affect certain matters relating to staff members

SECT

39H. (1) This section has effect for the purposes of the application, at any time at or after the transition, of a law, award, determination or agreement in relation to the employment of a staff member.

(2) Neither his or her contract of employment, nor his or her period of employment, shall be taken to have been broken by the operation of this Act.

(3) Without limiting section 39G or subsection (2) of this section, this Act does not affect any accrued rights that the staff member had immediately before the transition in relation to any kind of leave.

(4) Where:
(a) if the staff member had, immediately before the transition, ceased to be employed by SMEC, it would have been necessary to take into account a period during which the staff member was employed by SMEC or any other person to determine:
(i) an amount payable to the staff member; or
(ii) a benefit to which the staff member would have been
entitled;
because of his or her so ceasing; and
(b) but for this subsection, some or all of that period would not have to be taken into account as a period during which the staff member was employed by SMEC;
SMEC shall treat the whole of the first-mentioned period as a period during which the staff member was employed by it.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 39J
Effect of sections 39G and 39H

SECT

39J. Sections 39G and 39H are enacted only for the avoidance of doubt and, in particular, do not limit subsection 65 (5) or 87 (2) of the Companies Act 1981.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 39K
Variation of terms and conditions of employment

SECT

39K. (1) It is a term of each staff member's employment after the transition that the terms and conditions of that employment may be varied to the extent to which, and in the manner in which, the terms and conditions of his or her employment could, immediately before the transition, be varied under this Act.

(2) Nothing in this Part prevents the terms and conditions of a staff member's employment after the transition from being varied:
(a) in accordance with those terms and conditions; or
(b) by or under a law, award, determination or agreement.

(3) In this section:
"terms and conditions" includes a term or condition existing because of subsection (1);
"vary", in relation to terms and conditions, includes vary by way of:
(a) omitting any of those terms and conditions;
(b) adding to those terms and conditions; or
(c) substituting new terms or conditions for any of those terms and conditions.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - PART VC
PART VC - TAXATION MATTERS

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 39M
Interpretation

SECT

39M. In this Part:
"exempt matter" means:
(a) the issue of shares under subsection 18B (2);
(b) the reservation of name made by paragraph 18C (5) (b);
(c) the change of name made by subsection 18D (1);
(d) SMEC's registration as a company by force of this Act;
(e) the operation of this Act; or
(f) giving effect to a matter referred to in another paragraph of this definition or otherwise giving effect to this Act;
"tax" includes:
(a) sales tax;
(b) tax imposed by the Debits Tax Act 1982;
(c) fees payable under the Companies (Fees) Act 1981;
(d) stamp duty; and
(e) any other tax, fee, duty, levy or charge;
but does not include income tax imposed as such by a law of the Commonwealth.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 39N
Exemptions relating to exempt matters

SECT

39N. Tax under a law of the Commonwealth or a State or Territory is not payable in relation to:
(a) an exempt matter; or
(b) anything done (including a transaction entered into or an instrument or document made, executed, lodged or given) because of, or for a purpose connected with or arising out of, an exempt matter.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 39P
Authorised person may certify in relation to exemptions

SECT

39P. (1) An authorised person may, by signed writing, certify that:
(a) a specified matter or thing is an exempt matter; or
(b) a specified thing was done (including, for example, a transaction entered into or an instrument or document made, executed, lodged or given) because of, or for a purpose connected with or arising out of, a specified exempt matter.

(2) For all purposes and in all proceedings, a certificate under subsection (1) is conclusive evidence of the matters certified, unless the contrary is established.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 39Q
SMEC taken to have had share capital for purposes of Income Tax
Assessment Act

SECT

39Q. For the purposes of the Income Tax Assessment Act 1936, SMEC shall be taken to have had, at all times before it complied with subsection 18B (2) of this Act, a share capital, all the issued shares in which were, at all such times, beneficially owned by the Commonwealth.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - PART VII
PART VII - MlSCELLANEOUS

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 51
SMEC not public authority etc.

SECT

51. SMEC, as it exists after the transition, shall be taken for the purposes of a law of the Commonwealth or a State or Territory:
(a) not to have been incorporated or established for a public purpose or for a purpose of the Commonwealth; and
(b) not to be a public authority or an instrumentality or agency of the Crown;
except so far as express provision is made by a law of the Commonwealth, State or Territory, as the case may be.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 52
Judicial notice of SMEC's seal

SECT

52. (1) All courts, judges and persons acting judicially shall take judicial notice of the imprint of SMEC's seal appearing on a document and shall presume that it was duly affixed.

(2) Subection (1) applies only in relation to an imprint that was affixed, or appears to have been affixed, before the transition.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 53
Compensation for acquisition of property

SECT

53. (1) Where, but for this section, the operation of this Act would result in the acquisition of property from a person otherwise than on just terms, there is payable to the person by SMEC such reasonable amount of compensation as is agreed between the person and SMEC or, failing agreement, as is determined by a court of competent jurisdiction.

(2) Any damages or compensation recovered or other remedy given in proceedings that are instituted otherwise than under this section shall be taken into account in assessing compensation payable in proceedings that are instituted under this section and that arise out of the same event or transaction.

(3) In this section, "acquisition of property" and "just terms" have the same respective meanings as in paragraph 51 (31) of the Constitution.

SNOWY MOUNTAINS ENGINEERING CORPORATION ACT 1970 - SECT 55
Regulations

SECT

55. The Governor-General may make regulations, not inconsistent with this Act, prescribing matters:
(a) required or permitted by this Act to be prescribed; or
(b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.