Transfer of projects managed by Authority to government agency
67 Transfer of projects managed by Authority to government agency
The Minister may, by order published in the Gazette (a project divesting order), direct that the assets, rights or liabilities of the Authority in relation to a project specified in the order, including assets, rights or liabilities transferred to the Authority by a project authorisation order, be transferred to another government agency specified in the order.
The assets, rights or liabilities to be transferred by a project divesting order may consist of a specified class of assets, rights or liabilities.
A project divesting order may transfer assets, rights or liabilities in relation to a project to more than 1 government agency.
A project divesting order may be made on the terms and conditions decided by the Minister and specified or referred to in the order.
Schedule 2 applies to a project divesting order.
Before making a project divesting order that transfers assets, rights or liabilities to a State owned corporation, the Minister must consult with the following—
the portfolio Minister of the State owned corporation,
the voting shareholders of the State owned corporation,
the Chairperson of the board of directors of the State owned corporation.
Failure to comply with subsection (6) does not affect the validity of a project divesting order.
This Act’s bill:Explanatory memorandumSecond reading speech
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