Public Corporations (TechInSA) (Dissolution and Revocation) Regulations 2021 (SA)

South Australia

Public Corporations (TechInSA) (Dissolution and Revocation) Regulations 2021

under the Public Corporations Act 1993

Contents

1            Short title

2            Commencement

3            Dissolution of TechInSA

4            Disposition of assets and liabilities of TechInSA

Schedule 1—Revocation of Public Corporations (TechInSA) Regulations 2016

1—Short title

These regulations may be cited as the Public Corporations (TechInSA) (Dissolution and Revocation) Regulations 2021.

2—Commencement

These regulations come into operation on 1 July 2021.

3—Dissolution of TechInSA

TechInSA, established as Bio Innovation SA by regulation under Part 5 of the Public Corporations Act 1993 and continued as TechInSA, a subsidiary of the Minister for Science and Information Economy under the Public Corporations (TechInSA) Regulations 2016, is dissolved.

4—Disposition of assets and liabilities of TechInSA

1. The assets, rights and liabilities of TechInSA immediately before its dissolution are vested in and attached to the Minister for Innovation and Skills.

2. The Minister for Innovation and Skills may, by notice in the Gazette, declare that a reference in an Act, instrument, contract, agreement or other document to TechInSA will have effect as if it were a reference to the Minister, or to a body specified by the Minister in the notice.

3. The following provisions apply in connection with the operation of subregulation (1):

   (a)nothing in that subregulation—

   (i)constitutes a breach of, or default under, an Act or other law; or

   (ii)constitutes a breach of, or default under, a contract, agreement, understanding or undertaking; or

   (iii)constitutes a breach of a duty of confidence (whether arising by contract, in equity or by custom or in any other way); or

   (iv)constitutes a civil or criminal wrong; or

   (v)terminates an agreement or obligation or fulfils any condition that allows a person to terminate an agreement or obligation, or gives rise to any other right or remedy; or

   (vi)releases a surety or other obligee wholly or in part from an obligation;

   (b)that subregulation will have effect despite the terms of any contract, agreement, understanding or undertaking and without the need for any other act or consent.

Schedule 1—Revocation of Public Corporations (TechInSA) Regulations 2016

The Public Corporations (TechInSA) Regulations 2016 are revoked.

Note—

As required by section 10AA(2) of the Subordinate Legislation Act 1978, the Minister has certified that, in the Minister's opinion, it is necessary or appropriate that these regulations come into operation as set out in these regulations.

Made by the Governor

with the advice and consent of the Executive Council

on 17 June 2021

No 78 of 2021