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Commonwealth Authorities and Companies Act 1997
No. 153, 1997
No longer in force
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C2005C00178
22 February 2005
-
30 June 2007
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Table of contents
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Part 1—Preliminary
1 Short title [see Note 1]
2 Commencement [see Note 1]
3 This Act binds the Crown
4 This Act extends to things outside Australia
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Part 2—General provisions about definitions, offences and civil penalties
5 Definitions
6 Offences and civil penalties
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Part 3—Reporting and other obligations for Commonwealth authorities
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Division 1—Preliminary
7 Meaning of Commonwealth authority
8 Role of Auditor-General
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Division 2—Reporting obligations
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Subdivision A—Annual report and related obligations
9 Directors must prepare annual report
10 Modified requirements for first year of existence
11 Contravention of annual report rules by directors
12 Audit of relevant subsidiary’s financial statements
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Subdivision B—Other reporting obligations
13 Interim reports
14 Estimates
15 Responsible Minister to be notified of significant events
16 Keeping responsible Minister and Finance Minister informed
17 Corporate plan for GBE
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Division 3—Banking, investment etc.
18 Banking and investment (authorities other than GBEs and SMAs)
19 Banking and investment (GBEs and SMAs)
20 Accounting records
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Division 4—Conduct of officers
21 Background to duties of directors, other officers and employees
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Subdivision A—General duties
22 Care and diligence—civil obligation only
23 Good faith—civil obligations
24 Use of position—civil obligations
25 Use of information—civil obligations
26 Good faith, use of position and use of information—criminal offences
27A Compliance with statutory duties
27B Interaction of sections 22 to 26 with other laws etc.
27C Disqualification order for contravention of civil penalty provision
27D Reliance on information or advice provided by others
27E Responsibility for actions of delegate
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Subdivision B—Disclosure of, and voting on matters involving, material personal interests
27F Material personal interest—director’s duty to disclose
27G Director may give other directors standing notice about an interest
27H Interaction of sections 27F and 27G with other laws etc.
27J Restrictions on voting
27K Minister’s power to make declarations and class orders
27L Right of access to authority’s books
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Division 4A—Restrictions on indemnities and insurance for officers
27M Indemnification and exemption of officer
27N Insurance for certain liabilities of officers
27P Certain indemnities, exemptions, payments and agreements not authorised and certain documents void
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Division 5—Miscellaneous
28 Compliance with general policies of the Government
29 Activities of subsidiaries
30 Aligning accounting periods of subsidiaries
31 Exemption from requirement to align accounting periods of subsidiaries
32 Audit committee
33 Special rules for Commonwealth authorities established by regulations etc.
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Part 4—Reporting and other obligations for Commonwealth companies
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Division 1—Preliminary
34 Meaning of Commonwealth company and wholly-owned Commonwealth company
35 Role of Auditor-General
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Division 2—Reporting obligations
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Subdivision A—Annual report and related obligations
36 Annual Report
37 Audit of relevant subsidiary’s financial statements
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Subdivision B—Other reporting obligations
38 Interim reports
39 Estimates
40 Responsible Minister to be notified of significant events
41 Keeping responsible Minister and Finance Minister informed
42 Corporate plan for GBE
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Subdivision C—Miscellaneous
43 Compliance with general policies of the Government
44 Audit committee
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Part 5—Miscellaneous
45 Ministers must inform Parliament of share acquisitions etc.
46 Companies conducted for the purposes of intelligence or security agencies
47 Regulations may deal with how this Act applies if body stops being a Commonwealth authority
47A Compliance with government procurement requirements
48 Finance Minister’s Orders
49 Regulations
Schedule 1—Annual report for Commonwealth Authority
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Part 1—Contents of annual report
1 Summary of contents
2 Financial statements
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Part 2—Auditor’s report on financial statements
3 Whether the statements comply with the Finance Minister’s Orders
4 Proper accounting records not kept
5 Inadequate information and explanations
6 Subsidiaries’ financial statements
7 Deficiencies in consolidation
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Schedule 2—Civil consequences of contravening civil penalty provisions
1 Declarations of contravention
2 Declaration of contravention is conclusive evidence
3 Pecuniary penalty orders
4 Compensation orders
5 Effect of clause 4
6 Who may apply for a declaration or order
7 Time limit for application for a declaration or order
8 Civil evidence and procedure rules for declarations of contravention and civil penalty orders
9 Civil proceedings after criminal proceedings
10 Criminal proceedings during civil proceedings
11 Criminal proceedings after civil proceedings
12 Evidence given in proceedings for penalty not admissible in criminal proceedings
13 Finance Minister requiring person to assist
14 Relief from liability for contravention of civil penalty provision
15 Power to grant relief
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Schedule 3—Application, transitional and savings provisions
1 Meaning of commencement, new Law and old Law
2 References to provisions of old Law in laws and other documents
3 Conduct of officers
4 Contraventions of, and offences against, civil penalty provisions
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5 Civil penalty orders made under old Law
Notes to the STYLEREF ShortT \* MERGEFORMAT Commonwealth Authorities and Companies Act 1997
