Section 72. Minister to inform Parliament of certain events

(1) The Minister who has the responsibility for any of the following events must cause a notice of the event to be tabled in each House of the Parliament as soon as practicable after the event occurs:

(a) the Commonwealth or a corporate Commonwealth entity forms, or participates in forming, a company or a relevant body (see subsection (2));

(b) the Commonwealth or a corporate Commonwealth entity becomes, or ceases to be, a member of a company or a relevant body;

(c) a variation occurs in rights of the Commonwealth or a corporate Commonwealth entity as a member of a company or a relevant body;

(d) the Commonwealth or a corporate Commonwealth entity acquires shares (either by purchase or subscription) or disposes of shares in a company;

(e) a variation occurs in the rights attaching to shares held by the Commonwealth or a corporate Commonwealth entity in a company.

(2) Relevant body means a body of a kind prescribed by the rules.

(3) The notice must be in the form (if any), and contain the particulars (if any), prescribed by the rules.

(4) This section does not apply to:

(a) an event mentioned in paragraphs (1)(a) to (e) that occurs in relation to:

(i) an authorised investment made under section 58; or

(ii) an investment authorised under section 59; or

(iii) an investment made under the Future Fund Act 2006 or any other Act that is prescribed by the rules; or

(b) anything that results from the transfer to a Minister of any property that is to be dealt with as unclaimed property under Part 9.7 of the Corporations Act 2001; or

(c) a company or relevant body that is conducted for the purposes of an intelligence or security agency or a listed law enforcement agency.

Related template

  • Template for ministers to inform Parliament
  • Related glossary terms: 

    Last updated: 08 December 2016