Commonwealth Authorities and Companies Amendment Regulations 2002 (No. 2)

Overview

The Commonwealth Authorities and Companies Amendment Regulations 2002 (No. 2) were issued under the authority of the Minister for Finance and Administration, as stipulated in the Commonwealth Authorities and Companies Act 1997. This Act, enacted in 1997, aimed to provide a legislative framework for the administration of Commonwealth authorities and companies, ensuring they operate in a manner consistent with government policies. These regulations were introduced to address the need to update the legal framework following the sale of the Sydney Airports Corporation Limited on 28 June 2002. Additionally, the regulations sought to streamline the legal texts by removing outdated references to transitional arrangements for the Army and Air Force Canteens Service Board of Management that were no longer relevant. The overarching policy objective of these amendments was to ensure the regulations remained current and relevant, facilitating effective governance and administration of the remaining entities under the Act.

Scope and Application

The Commonwealth Authorities and Companies Amendment Regulations 2002 (No. 2) apply to the Commonwealth Authorities and Companies Act 1997, which pertains to various Commonwealth authorities and companies, including government business enterprises. These Regulations are designed to amend the Commonwealth Authorities and Companies Regulations 1997 to reflect changes such as the sale of the Sydney Airports Corporation Limited (SACL) on 28 June 2002. Consequently, SACL is removed from the list of government business enterprises and from the list of companies for which the Minister for Finance and Administration is the responsible Minister. Additionally, the Regulations eliminate a redundant note concerning transitional arrangements that applied to the Army and Air Force Canteens Service Board of Management from 1997 to 1998. The Regulations came into effect immediately upon gazettal, ensuring that the legal framework remains current and reflective of organisational changes within the Commonwealth.

Key Provisions

The main operative sections of the Commonwealth Authorities and Companies Amendment Regulations 2002 (No. 2) (the Regulations) pertain to the removal of references to the Sydney Airports Corporation Limited (SACL) and the transitional arrangements for the Army and Air Force Canteens Service Board of Management (AAFCSBM). Specifically, the Regulations amend the Commonwealth Authorities and Companies Regulations 1997 by deleting SACL from the list of companies that are prescribed as government business enterprises (GBEs) for the purposes of the Commonwealth Authorities and Companies Act 1997 (the Act) (Schedule 1, Item 1). Additionally, SACL is removed from the list of companies for which the Minister for Finance and Administration is prescribed as the responsible Minister (Schedule 1, Item 2). Furthermore, the Regulations delete a Note that referred to the transitional arrangements that applied for 1997-98 to AAFCSBM (Schedule 1, Item 3). The Act imposes certain obligations and requirements on the parties or entities it governs. For instance, the Minister for Finance and Administration, as a responsible Minister, would have had oversight and management responsibilities for SACL. However, with the amendments, this responsibility is no longer applicable to SACL. Moreover, by removing SACL from the list of GBEs, the Act's regulatory framework for GBEs is adjusted to no longer include SACL. Similarly, by removing the Note related to AAFCSBM's transitional arrangements, the Act streamlines its provisions concerning the Army and Air Force Canteens Service Board of Management. Under the Act, there are potential civil and criminal consequences for non-compliance with the requirements set forth in the Act and the Regulations. However, the explanatory statement does not specify any particular offences, penalties, or civil/criminal consequences related to the amendments made by these Regulations. The exact nature and extent of penalties for non-compliance would depend on the specific provisions of the Act and any other relevant legislation, and would need to be determined on a case-by-case basis. It is worth noting that the Regulations themselves took effect immediately upon gazettal, thereby ensuring that the amendments are applied without delay.