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Commonwealth Authorities and Companies Amendment Bill 2008


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Finance and Deregulation portfolio

Summary

Amends the Commonwealth Authorities and Companies Act 1997 to: enable the Finance Minister to make General Policy Orders which are legislative instruments and listed on the Federal Register of Legislative Instruments; align annual reporting requirements for Commonwealth authorities with the Acts Interpretation Act 1901; require all Commonwealth companies to provide annual reports to their responsible minister by specific deadlines and include information as required by Finance Minister Orders; clarify the use of credit cards, numbers and vouchers by Commonwealth authorities and introduce penalties for misuse; introduce a 'control' test to determine whether the Commonwealth controls a company; align the Act with the Corporations Act in relation to offences, penalties and terminology; require Commonwealth company subsidiaries to provide audited financial statements and audit reports to the responsible minister; and clarify compliance requirements for officers of Commonwealth companies with statutory and other duties. Also makes consequential amendments to the Australian Broadcasting Corporation Act 1983, Australian Industry Development Corporation Act 1970, Australian National University Act 1991, Legislative Instruments Act 2003 and Special Broadcasting Service Act 1991.

Progress of bill

For committee reference information, please see the Notes section at the end of this page.

House of Representatives
Introduced and read a first time 13/02/08  
Second reading moved 13/02/08  
Referred to Main Committee 12/03/08  
Second reading debate 17/03/08  
Second reading debate 18/03/08  
Second reading agreed to 18/03/08  
Reported from Main Committee 19/03/08  
Third reading agreed to 19/03/08  
     
Senate
Introduced and read a first time 20/03/08  
Second reading moved 20/03/08  
Second reading debate 15/05/08  
Second reading agreed to 15/05/08  
Third reading agreed to 15/05/08  
     
Assent 26/05/08 Act no.: 20 - Year: 2008
     

Text of bill

  • First reading

MS-Word PDF HTML

Explanatory memoranda

  • Explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

Bills Digest



Notes
  • An electronic version of this Act is available on the Federal Register of Legislation (www.legislation.gov.au)