Landcom Corporation Act 2001

This Act is the Landcom Corporation Act 2001.

This Act commences on a day or days to be appointed by proclamation.

In this Act:

assets means any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property of any description (including money), and includes securities, choses in action and documents.

Corporation means the statutory State owned corporation constituted by this Act.

exercise a function includes perform a duty.

function includes a power, authority or duty.

liabilities means any liabilities, debts or obligations (whether present or future and whether vested or contingent).

Ministerial Development Corporation means the Ministerial Development Corporation constituted by the Growth Centres (Development Corporations) Act 1974.

rights means any rights, powers, privileges or immunities (whether present or future and whether vested or contingent).

urban development includes the expansion, establishment and re-development of urban areas.

Words and expressions used in this Act and also the State Owned Corporations Act 1989 have the same meanings in this Act as they have in that Act.

Notes included in this Act do not form part of this Act.

There is constituted by this Act a corporation with the corporate name of Landcom.

The State Owned Corporations Act 1989 is amended by inserting in Schedule 5, in alphabetical order, the word “Landcom”.

The principal objectives of the Corporation are as follows:

to be a successful business and, to this end:

to operate at least as efficiently as any comparable businesses, and

to maximise the net worth of the State’s investment in it,

to exhibit a sense of social responsibility by having regard to the interests of the community in which it operates,

to protect the environment by conducting its operations in compliance with the principles of ecologically sustainable development contained in section 6 (2) of the Protection of the Environment Administration Act 1991,

to exhibit a sense of responsibility towards regional development and decentralisation in the way in which it operates,

to undertake, or assist the Government in undertaking, strategic or complex urban development projects,

to assist the Government in achieving its urban management objectives,

to be a responsible developer of residential, commercial and industrial land.

Each of the principal objectives of the Corporation is of equal importance.

The provisions of section 20E of the State Owned Corporations Act 1989 do not apply to the Corporation.

The Corporation has the functions conferred or imposed on it by or under this or any other Act or law.

The principal functions of the Corporation are:

to undertake and participate in residential, commercial, industrial and mixed development projects, and

to provide advice and services related to urban development, on a commercial basis, to government agencies and others.

Subsection (2) (b) does not affect the functions of the board of the Corporation under section 29 of the State Owned Corporations Act 1989.

The Corporation may also:

provide facilities or services that are ancillary or incidental to its principal functions, and

conduct any business or provide any service (whether or not related to its principal functions) that it considers will further its objectives.

The Corporation is to have a board of directors.

The board is to consist of 7 directors appointed by the Governor on the recommendation of the voting shareholders.

The voting shareholders are to consult with the portfolio Minister before recommending any person for appointment as a director.

The chief executive officer may be appointed as a director.

The board is accountable to the voting shareholders in the manner set out in Part 4 of the State Owned Corporations Act 1989 and in the constitution of the Corporation.

The Government Sector Employment Act 2013 (Part 6 included) does not apply to the directors of the Corporation.

Schedule 8 to the State Owned Corporations Act 1989 has effect with respect to the constitution and procedure of the board, subject to subsection (8).

The provisions of section 20J of the State Owned Corporations Act 1989, and of clauses 4 and 9 (1) of Schedule 8 to that Act, do not apply to the Corporation.

The chief executive officer of the Corporation is to be appointed by the board after consultation with the voting shareholders and the portfolio Minister.

The board may remove a person from office as chief executive officer, at any time, for any or no reason and without notice, but only after consultation with the voting shareholders and the portfolio Minister.

The chief executive officer is entitled to be paid such remuneration (including travelling and subsistence allowances) as the board may determine after consultation with the voting shareholders.

The board may, after consultation with the voting shareholders, fix the conditions of employment of the chief executive officer in so far as they are not fixed by or under any other Act or law.

The chief executive officer may delegate any functions of the chief executive officer to an employee of the Corporation, but this power is subject to any directions of the board.

The Government Sector Employment Act 2013 (Part 6 included) does not apply to the chief executive officer.

Schedule 9 to the State Owned Corporations Act 1989 has effect with respect to the chief executive officer, subject to subsection (8).

The provisions of section 20K of the State Owned Corporations Act 1989, and of clauses 2, 3 and 6 of Schedule 9 to that Act, do not apply to the chief executive officer.

The board may, from time to time, appoint a person to act in the office of chief executive officer during the illness or absence of the chief executive officer.

The board may remove a person from office as acting chief executive officer, at any time, for any or no reason and without notice.

A person, while acting in the office of chief executive officer:

has all the functions of the chief executive officer and is taken to be the chief executive officer, and

is entitled to be paid such remuneration (including travelling and subsistence allowances) as the board may determine after consultation with the voting shareholders.

For the purposes of this section, a vacancy in the office of a chief executive officer is regarded as an absence from office.

Clause 5 of Schedule 9 to the State Owned Corporations Act 1989 does not apply to an acting chief executive officer of the Corporation.

The portfolio Minister may provide to the board of the Corporation, from time to time, a written statement of priorities for the Corporation and its subsidiaries (if any).

A statement of priorities is to specify, in respect of any specified financial year or years:

the urban management priorities for the Corporation and its subsidiaries, expressed in broad terms, as proposed by the portfolio Minister, and

the projects, activities or outcomes to be undertaken or achieved by the Corporation as proposed by the portfolio Minister.

The portfolio Minister must provide the statement of priorities to the board no less than 2 months before the commencement of:

the financial year to which the statement of priorities relates, or

if the statement of priorities relates to more than one financial year, the first of those financial years.

Section 12 does not apply in respect of a statement of priorities unless it is provided to the board of the Corporation within the time required by subsection (3).

The board of the Corporation may decide to accept the statement of priorities provided by the portfolio Minister, but only with the approval of the voting shareholders.

A decision to accept the statement of priorities may be made subject to such conditions or modifications to the statement as are agreed between the board and the voting shareholders.

A decision not to accept the statement of priorities may be made by the board only with the approval of the voting shareholders.

If a decision is made not to accept the statement of priorities provided by the portfolio Minister, or to accept the statement subject to conditions or modifications, the voting shareholders must notify the portfolio Minister of that decision and the reasons for it.

In preparing a statement of corporate intent under section 21 of the State Owned Corporations Act 1989 for any period to which a statement of priorities relates, the board is to have regard to the statement of priorities, to the extent to which that statement has been accepted by the board.

A copy of the statement of priorities is to be attached to the completed statement of corporate intent when it is laid before each House of Parliament under section 26 of the State Owned Corporations Act 1989, together with a copy of a statement prepared by the board that indicates:

whether the statement of priorities has been accepted by the board, and

any conditions or modifications to which that acceptance is subject.

The board is to provide to the portfolio Minister, within 6 months after the end of each financial year in respect of which a statement of priorities has been provided to the board, a report that:

identifies the extent to which the priorities, projects, activities or outcomes set out in the statement of priorities, to the extent accepted by the board, have been undertaken or achieved by the Corporation in the financial year, and

sets out the reasons for any failure to undertake or achieve those accepted priorities, projects, activities or outcomes.