Government Owned Corporations (Queensland Rail) Amendment Regulation (No. 1) 1996 (Qld)

Queensland Subordinate Legislation 1996 No. 147 Government Owned Corporations Act 1993 GOVERNMENT OWNED CORPORATIONS (QUEENSLAND RAIL) AMENDMENT REGULATION (No. 1) 1996 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 Regulation amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Amendment of s 18 (Consideration for transfer of assets to Queensland Rail) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 4 Insertion of new pts 8 and 9— . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 PART 8—STATE TAX EXEMPTION 21 Exemption from payment of land tax . . . . . . . . . . . . . . . . . . . . . . . . . 2 PART 9—ISSUE OF FURTHER SHARES 22 Queensland Rail must issue further shares . . . . . . . . . . . . . . . . . . . . 3

s1 2 s4 Government Owned Corporations (Queensland No. 147, 1996 Rail) Amendment (No. 1) ˙ Short title 1. This regulation may be cited as the Government Owned Corporations (Queensland Rail) Amendment Regulation (No. 1) 1996 . ˙ Regulation amended 2. This regulation amends the GovernmentOwnedCorporations(Queensland Rail) Regulation 1995 . ˙ Amendment of s 18 (Consideration for transfer of assets to Queensland Rail) 3. Section 18(7), ‘1 July 1996’— omit, insert— ‘4 September 1996’. ˙ Insertion of new pts 8 and 9— 4. After section 20— insert— ‘ PART 8—STATE TAX EXEMPTION ˙ ‘ Exemption from payment of land tax ‘ 21. Queensland Rail is exempted from liability to pay land tax under the LandTaxAct1915 for the financial years 1996/1997, 1997/1998, 1998/1999, 1999/2000 and 2000/2001.

s4 3 s4 Government Owned Corporations (Queensland No. 147, 1996 Rail) Amendment (No. 1) ‘ PART 9—ISSUE OF FURTHER SHARES ˙ ‘ Queensland Rail must issue further shares ‘ 22.(1) Under section 9, 1 Queensland Rail is taken to have a share capital of $10 000 000 000, made up of 10 000 000 000 ordinary shares of $1 each. ‘ (2) Under section 58 2 of the Act, 2 of the shares have been issued. 3 ‘ (3) Queensland Rail must issue a further 40 220 000 of the shares on 30 June 1996.’. ENDNOTES 1. Made by the Governor in Council on 27 June 1996. 2. Notified in the gazette on 28 June 1996. 3. Laid before the Legislative Assembly on . . . 4. The administering agency is the Treasury Department. © State of Queensland 1996 1 Section 9 (Share capital) 2 Section 58 (Share capital and issue of shares) 3 Under the Act, each of Queensland Rail’s 2 shareholding Ministers holds an equal number of the issued shares (see sections 71 to 74 of the Act).