Commonwealth Serum Laboratories Act 1961
No. 38, 1961
Compilation No. 19
Compilation date: 1 March 2017
Includes amendments up to: Act No. 11, 2016
Registered: 7 March 2017
About this compilation
This compilation
This is a compilation of the Commonwealth Serum Laboratories Act 1961 that shows the text of the law as amended and in force on 1 March 2017 (the compilation date).
The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.
Uncommenced amendments
The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Legislation Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the series page on the Legislation Register for the compiled law.
Application, saving and transitional provisions for provisions and amendments
If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.
Editorial changes
For more information about any editorial changes made in this compilation, see the endnotes.
Modifications
If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the series page on the Legislation Register for the compiled law.
Self‑repealing provisions
If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.
Contents
Part 1—Preliminary
1 Short title
2 Commencement
3 Interpretation
5 Subsidiaries
6 Operation of Act
7 Extension to external Territories
Part 2—Creation of capital structure and other steps prior to conversion of CSL into a public company
8 Share capital of CSL
9 Issue of shares in CSL
10 CSL to apply to be registered as company etc.
11 New name of CSL
Part 3—Conversion of CSL into a public company
12 Effect of Part—summary
13 CSL taken to be registered under Companies Act
14 Memorandum and Articles of CSL
15 Membership of CSL
16 Past members
19 Operation of section 25B of Acts Interpretation Act
Part 3A—National interest restrictions on CSL Limited
Division 1—Purpose and interpretation
19A Purpose
19B Interpretation
Division 2—Requirements regarding CSL’s articles of association
19C CSL’s articles of association to include certain provisions
19D Inconsistent alteration to CSL’s articles of association to have no effect
19E CSL to maintain a register of foreign‑held voting shares
19F Injunctions in relation to contraventions of a mandatory article or section 19E
19G Consent injunctions
19H Interim injunctions
19J Factors relevant to the grant of a restraining injunction
19K Factors relevant to the…
Overview
The Commonwealth Serum Laboratories Act 1961 was enacted to facilitate the conversion of the Commonwealth Serum Laboratories (CSL) into a public company and to address certain matters affecting the national interest. The Act was introduced to address the need for CSL to transition from a government-owned entity to a publicly listed company while ensuring that certain national interests are safeguarded. The Commonwealth Parliament enacted this Act to provide the legal framework for the conversion and to impose specific restrictions on CSL's operations and ownership structure to protect national interests. The policy objective of the Act is to balance the commercialization of CSL with the protection of critical national interests, particularly in relation to the production of plasma-derived products and the maintenance of certain operational facilities within Australia.
Scope and Application
The Commonwealth Serum Laboratories Act 1961 (Cth) applies to Commonwealth Serum Laboratories (CSL), a Commonwealth entity, and governs its conversion into a public company and subsequent operations. The Act applies both within Australia and outside the country. The Act includes provisions regarding the creation of CSL's capital structure, the conversion process, and the national interest restrictions on CSL Limited. It also addresses matters such as CSL's articles of association, the prohibition on the disposal of the Broadmeadows facility, injunctions to ensure the performance of plasma products contracts, and staff and taxation matters. The Act extends to all external territories and has effect despite the Corporations Act 2001 (Cth). The Act may be amended through subordinate instruments, and certain provisions have been repealed or modified by subsequent legislation.
Key Provisions
- The Commonwealth Serum Laboratories Act 1961 (C1961A00038) outlines the establishment and operations of Commonwealth Serum Laboratories (CSL) as a public company, alongside specific national interest restrictions. Key sections include the creation of CSL's capital structure (sections 8-11), the conversion of CSL into a public company (sections 12-19), national interest restrictions (Part 3A), and staff and taxation matters (Parts 5-7). The Act mandates CSL to include specific provisions in its articles of association, such as restrictions on foreign shareholdings affecting director appointments and the requirement for CSL’s head office and principal facilities to be located in Australia. It also establishes CSL's obligations to maintain a register of foreign-held voting shares and seek ministerial approval for the disposal or granting of interests in the Broadmeadows facility. Breaches of these provisions can result in injunctions and other court orders. The Act further provides for the variation of staff terms and conditions post-transition, exemptions from certain taxes, and ensures that CSL is not considered a public authority for other legal purposes.
- Entities governed by this Act, particularly CSL, must adhere to the outlined capital structure requirements, ensure compliance with national interest restrictions, and maintain the specified register of foreign-held voting shares. They must also seek ministerial approval for certain transactions involving the Broadmeadows facility and ensure CSL’s head office and principal facilities remain in Australia. Failure to comply with these obligations may result in court-imposed injunctions or other orders, and potential civil or criminal penalties for serious breaches.
- Offences under this Act, particularly those involving national interest restrictions and the improper disposal of the Broadmeadows facility, can lead to court-imposed injunctions, fines, and other penalties. The Act empowers the Minister to apply for these injunctions, and the Court may grant them on terms it deems appropriate, without requiring an undertaking as to damages. Additionally, the Act includes provisions for compensation in cases where the acquisition of property does not occur on just terms. The maximum penalties for breaches are not explicitly stated but would typically depend on the severity and impact of the non-compliance.
- Area of Law
- Commercial Law
- Corporate Law & Governance
- National Security Law
- Instrument
- Act
- Concepts
- Commencement Provisions
- Licensing & Registration
- Regulatory Standards
- Prohibited Conduct
- Civil Penalty Provisions
- Enforcement Powers
- Delegated & Subordinate Legislation
