EXPLANATORY STATEMENT
STATUTORY RULES 1989 NO. 137
Snowy Mountains Engineering Corporation Act 1970
Snowy Mountains Engineering Corporation (Conversion into Public Company) Regulations
Issued by Authority of the Minister for Science, Customs and Small Business.
The Regulations are to facilitate the registration, with the National Companies and Securities Commission, of the Snowy Mountains Engineering Corporation (SMEC) as a public company under section 85 of the Companies Act 1981.
Details of the proposed Regulations are:-
| Regulation 1 - | sets out the citation of the regulations; |
| Regulation 2 - | sets out the definitions of the regulations; |
| Regulation 3 - | states that the form to be used for the registration of SMEC as a company under section 85(1) of the Companies Act 1981 is that set out in the Schedule; |
| Regulation 4 - | lists the documents which must accompany the form of registration which SMEC has to lodge with the National Companies and Securities Commission (the Commission). This and regulation 3 are necessary to enable SMEC to create a profile similar to other public companies with the Commission. |