Port of Brisbane Authority Act Amendment Act 1986 (Qld)

635 (Jueenstan 3 ANNO TRICESIMO QUINTO ELIZABETHAE SECUNDAE REGINAE No. 39 of 1986 An Act to amend the Portof BrisbaneAuthority Act 1976- 1982 in certain particulars [ASSENTED TO 15TH SEPTEMBER, 1986]

636 Port of Brisbane Authority Act Amendment Act 1986, No. 39 BE IT ENACTED by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Assembly of Queensland in Parliament assembled, and by the authority of the same, as follows:- 1. Short title . This Act may be cited as the Port of Brisbane Authority Act Amendment Act 1986. 2. Principal Act and amended citation . (1) In this Act the Port ofBrisbane Authority Act 1976-1982 is referred to as the Principal Act. (2) The Principal Act as amended by this Act may be cited as the Port of Brisbane Authority Act 1976-1986. 3. Amendment of s. 17. General powers etc. of Port Authority. Section 17 of the Principal Act is amended by inserting after subsection (2) the following subsections:- "(2A) The Port Authority may join with any person, on such terms and conditions as are agreed to by them, in establishing and carrying on the business of operation of the Cairncross Graving Dockyard. (2B) The Port_ Authority may join with any person, on such terms and conditions as are agreed to by them, in establishing and carrying on, in conjunction with the business specified in subsection (2A), the business of operation of any undertaking which- (a) in the opinion of both the Minister and the Port Authority involves the use of similar resources to those used in the business specified in subsection (2A); and (b) the Minister approves that the Port Authority may undertake." 4. Amendment of s. 22. Funds to be maintained . Section 22 of the Principal Act is amended by- (a) omitting the word "and" where it occurs between provisions (b) and (c): (b) omitting all words from and including the words ", and shall establish" to and including the words "Graving Dockyard." and substituting the following:- 66 and (d) subject to section 22A and for so long as the Port Authority controls the operation of the Cairncross Graving Dockyard , a Graving Dock Fund.".

Port of Brisbane Authority Act Amendment Act 1986, No. 39 637 5. New s. 22.x.. The Principal Act is amended by inserting after section 22 the following section:- "22A. Certain provisions not to apply . Where the Port Authority joins with a person pursuant to section 17 (2.A) or 17 (2B) to establish or carry on a business, it shall not be necessary, whilst that business is being jointly carried on, for the Port Authority to establish or maintain a Graving Dock Fund and any surplus or deficit in a Graving Dock Fund previously established and maintained shall be transferred to the Harbour Fund on and from the date of establishment or commencement of that business.". 6. Amendment of s. 23 . Harbour Fund . Section 23 of the Principal. Act is amended by inserting at the beginning of paragraph (b) of subsection (2) the words "where a Graving Dock Fund is maintained pursuant to the provisions of section 22,". 7. Amendment of s. 24 . Graving Dock Fund . Section 24 of the Principal Act is amended in subsection (1) by omitting the word "The" and substituting the words "Where a Graving Dock Fund is maintained pursuant to the provisions of section 22, the". 8. Amendment of s. 48 . Annual accounts of Port Authority . Section 48 of the Principal Act is amended by inserting after subsection (1) the following subsection:- "(l A) Where during a financial year the Port Authority carries on a business pursuant to section 17 (2A) or 17 (2B), the requirements of subsections (1) (f) and (1) (g) which relate to such a business shall not apply where the Port Authority prepares an annual financial statement showing the net operating result of that business and the capital investment of the Port Authority in that business.".