Industrial Development Amendment Regulation (No. 1) 1999 (Qld)

Queensland Subordinate Legislation 1999 No. 195 Industrial Development Act 1963 INDUSTRIAL DEVELOPMENT AMENDMENT REGULATION (No. 1) 1999 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 Regulation amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Insertion of new s 1A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 1A Prescribed matters for giving financial assistance—Act, s 5(3) . . . 2 4 Amendment of s 2 (Application of Local Government Act 1993) . . . . . . . . 3 5 Renumbering of ss 1A and 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3

s1 2 s3 Industrial Development Amendment (No. 1) No. 195, 1999 ˙ Short title 1. This regulation may be cited as the Industrial Development Amendment Regulation (No. 1) 1999 . ˙ Regulation amended 2. This regulation amends the Industrial Development Regulation 1993 . ˙ Insertion of new s 1A 3. After section 1— insert — ˙ ‘ Prescribed matters for giving financial assistance—Act, s 5(3) ‘ 1A.(1) For section 5(3) 1 of the Act, the following matters are prescribed for the corporation to consider in exercising a power under section 5(2)(a) or (b) of the Act to give financial assistance to a person— (a) the form and nature of the assistance; (b) any terms proposed for giving the assistance; (c) any security proposed for the repayment or recovery of the assistance and whether the security is likely to be sufficient; (d) the nature and objects of any business or project or proposed business or project (the “enterprise” ) to which the assistance, if given, will relate; (e) the person’s financial position; (f) whether the person is likely to be able to repay, or whether the corporation is likely to be able to recover, the assistance in full and in the way required under any terms proposed for giving it; (g) whether the carrying on of the enterprise— (i) is in the State’s interests; or (ii) is likely to promote the industrial development of the State or a part or locality of the State; 1 Section 5 (General powers of the corporation) of the Act

s4 3 s5 Industrial Development Amendment (No. 1) No. 195, 1999 (h) whether it is in the State’s interests to give the assistance. ‘ (2) In this section— “financial assistance” means lending money, entering into other financial arrangements or entering into instalment contracts or other deferred payment arrangements.’. ˙ Amendment of s 2 (Application of Local Government Act 1993) 4. Section 2, ‘section 6(6)’— omit, insert— ‘section 5(9)’. ˙ Renumbering of ss 1A and 2 5. Sections 1A and 2— renumber as sections 2 and 3. ENDNOTES 1. Made by the Governor in Council on 9 September 1999. 2. Notified in the gazette on 10 September 1999. 3. Laid before the Legislative Assembly on . . . 4. The administering agency is the Department of State Development. © State of Queensland 1999