EXPLANATORY STATEMENT
Statutory Rule 1989 No. 122
Issued by the Authority of the Minister for Transport and Communications
Subject: ANL Act 1956
ANL (Conversion into Public Company) Regulations
Section 69 of the ANL Act 1956 (the Act) provides that the Governor-General may make regulations, not inconsistent with the Act, prescribing all matters required or permitted by the Act to be prescribed, or necessary or convenient to be prescribed, for carrying out or giving effect to the Act.
The Act provides, pursuant to amendments made to it by the ANL (Conversion into Public Company) Act 1988, for the conversion of
the Australian Shipping Commission (the Commission) into a public company, incorporated in the Australian Capital Territory, under the name ANL Limited.
Section 41 of the Act makes provision with respect to documents to be lodged with the Corporate Affairs Commission of the Australian Capital Territory. The application for registration is to be made under section 85 of the Companies Act 1981 (the Companies Act), but the regulations may make provision for variations to the form of the application and the documents which are to accompany it. This is because section 85 of the Companies Act (the most nearly appropriate section) is intended to provide for the registration of foreign companies; it is therefore not possible for the Commission to comply strictly with the normal procedures. The regulations make provision for the minor variations thereby rendered necessary.
Details of the regulations are:
Clause 1: Citation
Provides that the regulations may be cited as the ANL (Conversion into Public Company) Regulations.
Clause 2: Interpretation
Provides that in the regulations, “the Act” means the ANL Act 1956; and “the Companies Act” means the Companies Act 1981.
Clause 3: Form of application for registration
Provides that the form of application required under subsection 85(1) of the Companies Act is to be that in the Schedule to the regulations rather than that prescribed by the Companies Regulations. The form in the Schedule to the regulations is based on Form 33 in Schedule 2 to the Companies Regulations with such variations as are necessary to adapt it to the Commission’s circumstances.
Clause 4: Documents to be lodged under s.85(4) of the Companies Act
Provides for the lodgment of certificates signed by a Commissioner of the Commission that the various requirements of the Act prerequisite to conversion have been complied with, and that the requirements of the Companies Act may be taken to have been complied with.