Commonwealth Authorities and Companies Amendment Regulations 1999 (No. 4)

Overview

The Commonwealth Authorities and Companies Amendment Regulations 1999 (No. 4), issued under the authority of the Minister for Finance and Administration, amend the Commonwealth Authorities and Companies Regulations 1997 to address specific administrative adjustments related to government business enterprises (GBEs) and statutory marketing authorities as defined by the Commonwealth Authorities and Companies Act 1997. The primary objective of these amendments is to ensure regulatory frameworks align with the changes in statutory functions and the establishment of new statutory authorities. For instance, the removal of Wool International from the list of statutory marketing authorities reflects its transition to a privately-owned entity, while the inclusion of the Australian Government Solicitor as a GBE aligns with its establishment as a statutory authority under the Judiciary Amendment Act 1999. These changes are intended to maintain the relevance and effectiveness of the regulatory environment in accordance with the evolving structure of government operations.

Scope and Application

The Commonwealth Authorities and Companies Amendment Regulations 1999 (No. 4) amends the Commonwealth Authorities and Companies Regulations 1997 in relation to government business enterprises (GBEs) and statutory marketing authorities under the Commonwealth Authorities and Companies Act 1997. These regulations apply to prescribed authorities and companies that are designated as GBEs and statutory marketing authorities, as specified in the Act. The changes are particularly relevant to entities such as Wool International and the Australian Government Solicitor, whose functions and status have undergone recent legislative changes. The amendments include the removal of Wool International from the list of statutory marketing authorities, reflecting its replacement by a private entity, WoolStock Australia, and the addition of the Australian Government Solicitor as a GBE, following its establishment as a statutory authority under the Judiciary Amendment Act 1999. The changes made by these regulations are intended to align the regulatory framework with current legislative and operational realities, ensuring that the regulatory oversight appropriately reflects the current structure and function of these entities.

Key Provisions

The Commonwealth Authorities and Companies Amendment Regulations 1999 (No. 4) primarily amend the Commonwealth Authorities and Companies Regulations 1997 to update the listing of government business enterprises (GBEs) and statutory marketing authorities under the Commonwealth Authorities and Companies Act 1997 (the Act) (s. 49(1)). Regulation 2 provides that regulations 1 to 3 and Schedule 1 of the Amendment Regulations commence upon gazettal, while Schedule 2 is set to commence on 1 September 1999 (reg. 2). Regulation 3 confirms that Schedules 1 and 2 to these regulations will amend the Commonwealth Authorities and Companies Regulations 1997. Under the amendments, Schedule 1 revises the listing of statutory marketing authorities by removing Wool International from the list, effective from 1 July 1999. This change is due to the functions of Wool International being transferred to a privately owned company, WoolStock Australia (Sch. 1[1], [2]). Schedule 2 adds the Australian Government Solicitor as a GBE, reflecting the establishment of this entity as a statutory authority under the Judiciary Amendment Act 1999 (Sch. 2[1]). This Act was passed on 31 March 1999 and is scheduled to commence on 1 September 1999. The obligations and requirements imposed by these regulations include ensuring that the updated listing of GBEs and statutory marketing authorities is adhered to in all relevant documentation and reporting under the Act. Authorities and companies must reflect these changes in their compliance and regulatory filings. Failure to comply with these amendments can result in non-compliance with the Act and potential enforcement actions by relevant authorities. The Act does not explicitly state penalties for non-compliance with these regulations. However, general provisions in the Act may apply, which can include fines, corrective actions, or other enforcement measures deemed appropriate by the relevant authorities. The exact nature and severity of these consequences would be determined based on the specific circumstances of non-compliance and the discretion of the enforcing body.