Provision

Current

In this Act, unless the contrary intention appears—

“assets” means property of every kind and, without limiting the generality of the foregoing, includes—

(a)

choses in action; and

(b)

rights, interests and claims of every kind in or to property, whether arising under or by virtue of an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing;

“Assistant Trade Commissioner” means an Assistant Trade Commissioner appointed pursuant to section 3 of the Trade Commissioners Act;

“Australian Public Service employee” means a person employed under Division 10 of Part III of the Public Service Act 1922;

“authorised officer” means—

(a)

the Minister;

(b)

the Managing Director, the Deputy Managing Director, an acting Managing Director or an acting Deputy Managing Director; or

(c)

a person employed by the Commission;

“employee of the Insurance Corporation” means a person employed under section 63 of the Insurance Corporation Act;

“employee of the Projects Corporation” means a person engaged under section 31 of the Projects Corporation Act;

“Grants Board” means the Export Development Grants Board established under the Export Market Development Grants Act 1974;

“instrument” includes a contract, guarantee or agreement (whether express or implied and whether made or given orally or in writing), bond, authority, order, power of attorney, mortgage, transfer, conveyance or other assurance, charge, lien, bill of lading, bill of exchange, letter of credit or security;

“Insurance Corporation Act” means the Export Finance and Insurance Corporation Act 1974;

“liabilities” means liabilities of every kind and, without limiting the generality of the foregoing, includes obligations of every kind, whether arising under or by virtue of an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing;

“officer of the Australian Public Service” means a person appointed or transferred to the Australian Public Service but does not include an Australian Public Service employee;

“officer of the Insurance Corporation” means a person appointed under section 61 of the Insurance Corporation Act;

“Projects Corporation Act” means the Australian Overseas Projects Corporation Act 1978;

“relevant instrument” means an instrument—

(a)

to which the Insurance Corporation or the Projects Corporation is a party;

(b)

which relates to a function assumed by the Commission and to which the Commonwealth is a party;

(c)

which was given to or in favour of the Insurance Corporation or the Projects Corporation;

(d)

which relates to a function assumed by the Commission and which was given to or in favour of the Commonwealth;

(e)

in which a reference is made to the Insurance Corporation or to the Projects Corporation; or

(f)

under which money is or may become payable, or any other property is to be, or may become liable to be, transferred, conveyed or assigned, to or by the Insurance Corporation or the Projects Corporation, being an “instrument subsisting immediately before the commencing day;

“Trade Commissioner” means a Trade Commissioner appointed pursuant to section 3 of the Trade Commissioners Act;

“Trade Commissioner Office employee” means a person who, immediately before the commencing day, held an appointment under section 10 of the Trade Commissioners Act;

“Trade Commissioners Act” means the Trade Commissioners Act 1933.

PART II—REPEAL, SAVINGS AND TRANSITIONAL PROVISIONS CONCERNING INSURANCE CORPORATION AND PROJECTS CORPORATION

Repeal of Acts

This Act’s bill:Second reading speech

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