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26. Minister to inform Parliament of certain events
Guide to this section
The purpose of this section is to help ensure transparency about government operations relating to companies by requiring meaningful information to be given to Parliament about those operations.
This section is made for subsection 72(3) of the Act (which requires a notice to be given for certain events).
A notice of an event must contain the particulars set out in the following table.
|Particulars for notice of event|
|Item||Topic||Particulars to be included|
|1||Person giving the notice||The name and portfolio of the Minister who has the responsibility for the event.|
|2||The event||The nature of, and reasons for, the event.|
|3||Consequences of the event||The following:
(a) the dollar value of any consideration paid or received by the Commonwealth or a corporate Commonwealth entity in relation to the event;
(b) whether, because of the event, the Commonwealth or a corporate Commonwealth entity:
(i) has a liability, duty or obligation (whether actual, contingent or prospective); or
(ii) has control of a company; or
(iii) no longer has control of a company;
(c) whether, because of the event, there are other interests of the Commonwealth or a corporate Commonwealth entity that are affected by the event and, if so, details of the interests affected.
|4||Event relating to a company||If the event relates to a company:
(a) the name of the company; and
(b) the company’s ACN (within the meaning of section 9 of the Corporations Act 2001) or ARBN (within the meaning of that section), if any; and
(c) whether the company is a public company (within the meaning of that section).
|5||Event relating to a foreign company||If the event relates to a foreign company (within the meaning of section 9 of the Corporations Act 2001):
(a) the jurisdiction in which the company is incorporated; and
(b) if the company does not have an ARBN (within the meaning of that section) - an incorporation identifier for the company in that jurisdiction.
Last updated: 08 December 2016