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Regional Investment Corporation Bill 2017

2016-2017

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

Regional Investment Corporation Bill 2017

 

No.      , 2017

 

(Agriculture and Water Resources)

 

 

 

A Bill for an Act to establish the Regional Investment Corporation, and for related purposes

   

   

   



Contents

Part 1—Introduction                                                                                                             1

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 1

3............ Simplified outline of this Act.............................................................. 2

4............ Definitions.......................................................................................... 3

5............ Crown to be bound............................................................................. 5

6............ Extension to external Territories.......................................................... 5

Part 2—Regional Investment Corporation                                                             6

Division 1—Establishment and functions                                                            6

7............ Establishment...................................................................................... 6

8............ Functions of the Corporation.............................................................. 6

9............ Powers of the Corporation.................................................................. 9

10.......... Corporation does not have privileges and immunities of the Crown... 9

Division 2—Operating Mandate and other directions                               10

11.......... Operating Mandate............................................................................ 10

12.......... Responsible Ministers may give other directions to the Corporation 11

13.......... Compliance with directions............................................................... 11

Part 3—Board of the Corporation                                                                             13

Division 1—Establishment and functions of the Board                             13

14.......... Establishment of the Board............................................................... 13

15.......... Functions of the Board...................................................................... 13

Division 2—Members of the Board                                                                      14

16.......... Membership...................................................................................... 14

17.......... Appointment of Board members....................................................... 14

18.......... Chair................................................................................................. 14

19.......... Term of appointment......................................................................... 14

20.......... Acting appointment........................................................................... 15

21.......... Remuneration.................................................................................... 15

22.......... Leave of absence............................................................................... 16

23.......... Outside employment......................................................................... 16

24.......... Other terms and conditions............................................................... 16

25.......... Resignation....................................................................................... 16

26.......... Termination of appointment.............................................................. 16

Division 3—Meetings of the Board                                                                      18

27.......... Convening meetings.......................................................................... 18

28.......... Presiding at meetings........................................................................ 18

29.......... Quorum............................................................................................. 18

30.......... Voting at meetings............................................................................ 18

31.......... Conduct of meetings......................................................................... 18

32.......... Minutes............................................................................................. 19

33.......... Decisions without meetings.............................................................. 19

Part 4—Chief Executive Officer, staff and consultants                                20

Division 1—Chief Executive Officer                                                                   20

34.......... Chief Executive Officer..................................................................... 20

35.......... Functions of the CEO....................................................................... 20

36.......... Appointment..................................................................................... 20

37.......... Acting appointment........................................................................... 21

38.......... Remuneration.................................................................................... 21

39.......... Leave of absence............................................................................... 21

40.......... Outside employment......................................................................... 22

41.......... Other terms and conditions............................................................... 22

42.......... Resignation....................................................................................... 22

43.......... Termination of appointment.............................................................. 22

Division 2—Staff and consultants                                                                         24

44.......... Staff.................................................................................................. 24

45.......... Consultants....................................................................................... 24

Part 5—Miscellaneous                                                                                                        25

46.......... Terms and conditions of loans.......................................................... 25

47.......... Recovery of costs.............................................................................. 25

48.......... Exemption from taxation................................................................... 25

49.......... Delegation by Corporation................................................................ 25

50.......... Delegation by Board......................................................................... 26

51.......... Delegation and subdelegation by CEO.............................................. 26

52.......... Transfer of records to the Corporation.............................................. 26

53.......... Review of operation of Act............................................................... 27

54.......... Rules................................................................................................. 27

 



A Bill for an Act to establish the Regional Investment Corporation, and for related purposes

The Parliament of Australia enacts: