Commonwealth Authorities and Companies Amendment Regulations 1999 (No. 5) 1999 No. 225

EXPLANATORY STATEMENT

STATUTORY RULES 1999 No. 225

Issued by the Authority of the Minister for Finance and Administration

Commonwealth Authorities and Companies Act 1997

Commonwealth Authorities and Companies Amendment Regulations 1999 (No. 5)

The attached Statutory Rules make regulations under section 49(1) of the Commonwealth Authorities and Companies Act 1997 (the Act) to amend the Commonwealth Authorities and Companies Regulations 1997 in relation to those authorities that are prescribed as government business enterprises (GBEs) for the purposes of the Act.

Details of the amendments are as follows:

Regulation 1

This names the regulations as the Commonwealth Authorities and Companies Amendment Regulations 1999 (No. 5)

Regulation 2

This provides that the amendments are to commence on gazettal.

Regulation 3

This provides that Schedule 1 to these regulations amends the Commonwealth Authorities and Companies Regulations 1997.

Schedule 1

[1], After paragraph 4(d)

This item inserts ComLand Limited as a government business enterprise. ComLand Limited was established as a company under Corporations Law on 30 June 1999 and is wholly owned by the Commonwealth.

[2], Regulation 4A

This item replaces the existing Regulation 4A. The existing Regulation has been replaced to allow for re-numbering of existing and new items in a logical manner. ComLand Limited and Employment National Limited have been added to this regulation as the Minister for Finance and Administration is the designated "responsible Minister", as defined in section 5 of the Act.