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This is a Bill, not an Act. For current law, see the Acts databases.
Queensland TAB QUEENSLAND LIMITED PRIVATISATION AMENDMENT BILL 2003
Queensland TAB QUEENSLAND LIMITED PRIVATISATION AMENDMENT BILL 2003 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 2 Commencement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 3 Act amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 4 Amendment of s 18 (Definition for pt 3). . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Omission of s 24 (Cornerstone investor). . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 6 Amendment of s 26 (Prohibited shareholding interest). . . . . . . . . . . . . . . . . 4 7 Omission of pt 3, divs 3 and 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 8 Amendment of s 44 (TABQ group companies to have constitutions containing certain provisions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 9 Amendment of s 50 (Pt 5 overrides Corporations Law) . . . . . . . . . . . . . . . . 6
2003 A BILL FOR An Act to amend the TAB Queensland Limited Privatisation Act 1999
s1 4 s6 TAB Queensland Limited Privatisation Amendment Bill 2003 The Parliament of Queensland enacts-- 1 1 Short title Clause 2 This Act may be cited as the TAB Queensland Limited Privatisation 3 Amendment Act 2003. 4 2 Commencement Clause 5 This Act commences on a day to be fixed by proclamation. 6 3 Act amended Clause 7 This Act amends the TAB Queensland Limited Privatisation Act 1999. 8 4 Amendment of s 18 (Definition for pt 3) Clause 9 (1) Section 18, heading, `Definition'-- 10 omit, insert-- 11 `Definitions'. 12 (2) Section 18, definition "cornerstone investor"-- 13 omit. 14 5 Omission of s 24 (Cornerstone investor) Clause 15 Section 24-- 16 omit. 17 6 Amendment of s 26 (Prohibited shareholding interest) Clause 18 (1) Section 26(1), `the cornerstone investor'-- 19 omit, insert-- 20 `Tab Limited (ABN 17 081 765 308)'. 21
s7 5 s8 TAB Queensland Limited Privatisation Amendment Bill 2003 (2) Section 26(2)-- 1 omit, insert-- 2 `(2) Tab Limited has a prohibited shareholding interest in TABQ if it is 3 entitled to voting shares in TABQ that together constitute more than 10% 4 of the total number of voting shares in TABQ unless the shares were 5 acquired under an arrangement approved by a court under the Corporations 6 Act, section 411(6) and notified by the Minister by gazette notice.'. 7 (3) Section 26(4)-- 8 omit. 9 (4) Section 26(5) and (6)-- 10 renumber as section 26(4) and (5). 11 7 Omission of pt 3, divs 3 and 4 Clause 12 Part 3, divisions 3 and 4-- 13 omit. 14 8 Amendment of s 44 (TABQ group companies to have constitutions Clause 15 containing certain provisions) 16 (1) Section 44(2)(b)-- 17 omit, insert-- 18 `(b) at least 3 of the directors of the company to be ordinarily resident 19 in Queensland; and 20 (c) the holders of the following positions, however described, in the 21 company to be ordinarily resident in Queensland-- 22 · chief financial officer; 23 · general counsel; 24 · chief human resources officer; and 25 (d) each annual general meeting of the company to be held in 26 Queensland.'. 27 (2) Section 44(3)(c)-- 28 omit, insert-- 29
s9 6 s9 TAB Queensland Limited Privatisation Amendment Bill 2003 `(c) in each year, at least 4 of the company's board meetings are held 1 in Queensland; and 2 (d) each meeting of the company's board held annually for the 3 purpose of strategic planning is held in Queensland.'. 4 9 Amendment of s 50 (Pt 5 overrides Corporations Law) Clause 5 Section 50, heading, `Law'-- 6 omit, insert-- 7 `Act'. 8 © State of Queensland 2003
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