{"id":"qld:sl-2024-0161","name":"Government Owned Corporations Regulation 2024","slug":"government-owned-corporations-regulation-2024","collection":"regulation","jurisdiction":"qld","status":"in_force","isInForce":true,"actNumber":"161 of 2024","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":173714,"registerId":"qld-sl-2024-0161-current","compilationNumber":null,"startDate":"2026-04-05","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"sch.2-pt.3","sectionType":"part","heading":"Reporting","content":"# Reporting","sortOrder":0},{"sectionNumber":"sch.2-pt.3-div.1","sectionType":"division","heading":"Preliminary","content":"## Preliminary","sortOrder":1},{"sectionNumber":"sch.2-sec.36","sectionType":"section","heading":"Not applied","content":"### sch.2-sec.36 Not applied","sortOrder":2},{"sectionNumber":"sch.2-sec.37","sectionType":"section","heading":"Not applied","content":"### sch.2-sec.37 Not applied","sortOrder":3},{"sectionNumber":"sch.2-pt.3-div.2","sectionType":"division","heading":"Annual financial statements","content":"## Annual financial statements","sortOrder":4},{"sectionNumber":"sch.2-sec.38","sectionType":"section","heading":"Not applied","content":"### sch.2-sec.38 Not applied","sortOrder":5},{"sectionNumber":"sch.2-sec.39","sectionType":"section","heading":"Not applied","content":"### sch.2-sec.39 Not applied","sortOrder":6},{"sectionNumber":"sch.2-sec.40","sectionType":"section","heading":"Not applied","content":"### sch.2-sec.40 Not applied","sortOrder":7},{"sectionNumber":"sch.2-sec.41","sectionType":"section","heading":"Timing for giving annual financial statements to authorised auditor","content":"### sch.2-sec.41 Timing for giving annual financial statements to authorised auditor\n\nThis section applies to the annual financial statements for a financial year that a GOC or prescribed GOC subsidiary prepares under the Corporations Act.\nThe GOC or prescribed GOC subsidiary must give the annual financial statements to the authorised auditor for the GOC or subsidiary by a day agreed between the GOC or subsidiary and the authorised auditor.\nThe day agreed must allow the audit of the annual financial statements, and the report of the authorised auditor about the statements, to be finished no later than 2 months after the end of the financial year to which the statements relate.\nto (9) Not applied .\n(sch.2-sec.41-ssec.1) This section applies to the annual financial statements for a financial year that a GOC or prescribed GOC subsidiary prepares under the Corporations Act.\n(sch.2-sec.41-ssec.2) The GOC or prescribed GOC subsidiary must give the annual financial statements to the authorised auditor for the GOC or subsidiary by a day agreed between the GOC or subsidiary and the authorised auditor.\n(sch.2-sec.41-ssec.3) The day agreed must allow the audit of the annual financial statements, and the report of the authorised auditor about the statements, to be finished no later than 2 months after the end of the financial year to which the statements relate.\n(sch.2-sec.41-ssec.4) to (9) Not applied .","sortOrder":8},{"sectionNumber":"sch.2-sec.42","sectionType":"section","heading":"Release of annual financial statements","content":"### sch.2-sec.42 Release of annual financial statements\n\nA GOC or prescribed GOC subsidiary must not, before the annual report that includes the GOC’s or subsidiary’s annual financial statements is tabled in the Legislative Assembly under section 47 (6) of this standard —\ngive the annual financial statements, or a copy of them, to a person other than—\nthe authorised auditor for the GOC or subsidiary , the auditor-general or a person acting for the auditor-general; or\nthe shareholding Ministers of the GOC or subsidiary’s shareholding GOC , or a person acting for the shareholding Ministers ; or\nan officer or employee of the GOC or subsidiary ; or\nnot applied ; or\nanother person engaged by the GOC or subsidiary to help in the preparation of the statements; or\notherwise release the annual financial statements.\nHowever, the GOC or prescribed GOC subsidiary does not contravene subsection (1) by giving the annual financial statements, or a copy of them, to—\na person under an authority given by the shareholding Ministers of the GOC or subsidiary’s shareholding GOC ; or\nnot applied ; or\nanother person if the GOC or subsidiary is required or permitted under another law to give the statements or a copy to the person.\nNot applied.\n(sch.2-sec.42-ssec.1) A GOC or prescribed GOC subsidiary must not, before the annual report that includes the GOC’s or subsidiary’s annual financial statements is tabled in the Legislative Assembly under section 47 (6) of this standard — give the annual financial statements, or a copy of them, to a person other than— the authorised auditor for the GOC or subsidiary , the auditor-general or a person acting for the auditor-general; or the shareholding Ministers of the GOC or subsidiary’s shareholding GOC , or a person acting for the shareholding Ministers ; or an officer or employee of the GOC or subsidiary ; or not applied ; or another person engaged by the GOC or subsidiary to help in the preparation of the statements; or otherwise release the annual financial statements.\n(sch.2-sec.42-ssec.2) However, the GOC or prescribed GOC subsidiary does not contravene subsection (1) by giving the annual financial statements, or a copy of them, to— a person under an authority given by the shareholding Ministers of the GOC or subsidiary’s shareholding GOC ; or not applied ; or another person if the GOC or subsidiary is required or permitted under another law to give the statements or a copy to the person.\n(sch.2-sec.42-ssec.3) Not applied.\n- (a) give the annual financial statements, or a copy of them, to a person other than— (i) the authorised auditor for the GOC or subsidiary , the auditor-general or a person acting for the auditor-general; or (ii) the shareholding Ministers of the GOC or subsidiary’s shareholding GOC , or a person acting for the shareholding Ministers ; or (iii) an officer or employee of the GOC or subsidiary ; or (iv) not applied ; or (v) another person engaged by the GOC or subsidiary to help in the preparation of the statements; or\n- (i) the authorised auditor for the GOC or subsidiary , the auditor-general or a person acting for the auditor-general; or\n- (ii) the shareholding Ministers of the GOC or subsidiary’s shareholding GOC , or a person acting for the shareholding Ministers ; or\n- (iii) an officer or employee of the GOC or subsidiary ; or\n- (iv) not applied ; or\n- (v) another person engaged by the GOC or subsidiary to help in the preparation of the statements; or\n- (b) otherwise release the annual financial statements.\n- (i) the authorised auditor for the GOC or subsidiary , the auditor-general or a person acting for the auditor-general; or\n- (ii) the shareholding Ministers of the GOC or subsidiary’s shareholding GOC , or a person acting for the shareholding Ministers ; or\n- (iii) an officer or employee of the GOC or subsidiary ; or\n- (iv) not applied ; or\n- (v) another person engaged by the GOC or subsidiary to help in the preparation of the statements; or\n- (a) a person under an authority given by the shareholding Ministers of the GOC or subsidiary’s shareholding GOC ; or\n- (b) not applied ; or\n- (c) another person if the GOC or subsidiary is required or permitted under another law to give the statements or a copy to the person.","sortOrder":9},{"sectionNumber":"sch.2-sec.43","sectionType":"section","heading":"GOC or prescribed GOC subsidiary to consider authorised auditor’s report and comments, observations and suggestions","content":"### sch.2-sec.43 GOC or prescribed GOC subsidiary to consider authorised auditor’s report and comments, observations and suggestions\n\nAt the first ordinary meeting held by a GOC or prescribed GOC subsidiary after it receives, from the authorised auditor for the GOC or subsidiary , its annual financial statements and the authorised auditor’s report on the statements, the GOC or subsidiary must consider the statements and the report.\nIf the report contains comments, observations or suggestions about anything arising out of an audit, the GOC or prescribed GOC subsidiary must—\nconsider the comments, observations or suggestions; and\nif the GOC or subsidiary believes it is appropriate to take a particular action in response to the comments, observations or suggestions—take the action.\n(sch.2-sec.43-ssec.1) At the first ordinary meeting held by a GOC or prescribed GOC subsidiary after it receives, from the authorised auditor for the GOC or subsidiary , its annual financial statements and the authorised auditor’s report on the statements, the GOC or subsidiary must consider the statements and the report.\n(sch.2-sec.43-ssec.2) If the report contains comments, observations or suggestions about anything arising out of an audit, the GOC or prescribed GOC subsidiary must— consider the comments, observations or suggestions; and if the GOC or subsidiary believes it is appropriate to take a particular action in response to the comments, observations or suggestions—take the action.\n- (a) consider the comments, observations or suggestions; and\n- (b) if the GOC or subsidiary believes it is appropriate to take a particular action in response to the comments, observations or suggestions—take the action.","sortOrder":10},{"sectionNumber":"sch.2-sec.44","sectionType":"section","heading":"Not applied","content":"### sch.2-sec.44 Not applied","sortOrder":11},{"sectionNumber":"sch.2-sec.45","sectionType":"section","heading":"Not applied","content":"### sch.2-sec.45 Not applied","sortOrder":12},{"sectionNumber":"sch.2-pt.3-div.3","sectionType":"division","heading":"Annual reports and final reports","content":"## Annual reports and final reports","sortOrder":13},{"sectionNumber":"sch.2-sec.46","sectionType":"section","heading":"Preparation of annual reports generally— Act , s 63","content":"### sch.2-sec.46 Preparation of annual reports generally— Act , s 63\n\nand (2) Not applied.\nThe annual report of a GOC or prescribed GOC subsidiary must contain a copy of the following for the GOC or subsidiary —\nto (d) not applied;\nthe information the shareholding Ministers of the GOC or subsidiary’s shareholding GOC require to enable the Ministers to assess the efficiency, effectiveness and economy of the GOC or subsidiary and the need for it to continue;\nthe annual financial statements of the GOC or subsidiary for the financial year to which the report relates certified by the authorised auditor;\nthe information required under the Government Owned Corporations Act 1993 to be included in the annual report of the GOC or subsidiary.\nA GOC or prescribed GOC subsidiary may prepare an annual report, including the annual financial statements contained in the report, in electronic form if—\ncopies of the report are also available in paper form; and\nthe electronic form of the report clearly states that copies of the report are also available in paper form and how the copies may be obtained.\n(sch.2-sec.46-ssec.1) and (2) Not applied.\n(sch.2-sec.46-ssec.3) The annual report of a GOC or prescribed GOC subsidiary must contain a copy of the following for the GOC or subsidiary — to (d) not applied; the information the shareholding Ministers of the GOC or subsidiary’s shareholding GOC require to enable the Ministers to assess the efficiency, effectiveness and economy of the GOC or subsidiary and the need for it to continue; the annual financial statements of the GOC or subsidiary for the financial year to which the report relates certified by the authorised auditor; the information required under the Government Owned Corporations Act 1993 to be included in the annual report of the GOC or subsidiary.\n(sch.2-sec.46-ssec.4) A GOC or prescribed GOC subsidiary may prepare an annual report, including the annual financial statements contained in the report, in electronic form if— copies of the report are also available in paper form; and the electronic form of the report clearly states that copies of the report are also available in paper form and how the copies may be obtained.\n- (a) to (d) not applied;\n- (e) the information the shareholding Ministers of the GOC or subsidiary’s shareholding GOC require to enable the Ministers to assess the efficiency, effectiveness and economy of the GOC or subsidiary and the need for it to continue;\n- (f) the annual financial statements of the GOC or subsidiary for the financial year to which the report relates certified by the authorised auditor;\n- (g) the information required under the Government Owned Corporations Act 1993 to be included in the annual report of the GOC or subsidiary.\n- (a) copies of the report are also available in paper form; and\n- (b) the electronic form of the report clearly states that copies of the report are also available in paper form and how the copies may be obtained.","sortOrder":14},{"sectionNumber":"sch.2-sec.47","sectionType":"section","heading":"Provision and tabling of annual reports— Act , s 63","content":"### sch.2-sec.47 Provision and tabling of annual reports— Act , s 63\n\nNot applied.\nA GOC or prescribed GOC subsidiary must give an annual report for a financial year to the shareholding Ministers of the GOC or subsidiary’s shareholding GOC within the period starting immediately after the end of the financial year to which the report relates and ending on 15 September of that year (the preparation period ).\nNot applied .\nThe shareholding Ministers may extend or further extend, for the financial year, the preparation period by notice given to the GOC or prescribed GOC subsidiary .\nHowever, if the shareholding Ministers extend the tabling period to a period of more than 6 months after the end of the financial year, the shareholding Ministers must, within 14 days after giving the extension, table in the Legislative Assembly a notice stating—\nthe report is being tabled late; and\nthe length of the delay; and\nthe reasons for the delay.\nThe shareholding Ministers must table the annual report in the Legislative Assembly within 15 days after the end of the preparation period mentioned in subsection (2) or extended under subsection (4) .\nNot applied.\n(sch.2-sec.47-ssec.1) Not applied.\n(sch.2-sec.47-ssec.2) A GOC or prescribed GOC subsidiary must give an annual report for a financial year to the shareholding Ministers of the GOC or subsidiary’s shareholding GOC within the period starting immediately after the end of the financial year to which the report relates and ending on 15 September of that year (the preparation period ).\n(sch.2-sec.47-ssec.3) Not applied .\n(sch.2-sec.47-ssec.4) The shareholding Ministers may extend or further extend, for the financial year, the preparation period by notice given to the GOC or prescribed GOC subsidiary .\n(sch.2-sec.47-ssec.5) However, if the shareholding Ministers extend the tabling period to a period of more than 6 months after the end of the financial year, the shareholding Ministers must, within 14 days after giving the extension, table in the Legislative Assembly a notice stating— the report is being tabled late; and the length of the delay; and the reasons for the delay.\n(sch.2-sec.47-ssec.6) The shareholding Ministers must table the annual report in the Legislative Assembly within 15 days after the end of the preparation period mentioned in subsection (2) or extended under subsection (4) .\n(sch.2-sec.47-ssec.7) Not applied.\n- (a) the report is being tabled late; and\n- (b) the length of the delay; and\n- (c) the reasons for the delay.","sortOrder":15},{"sectionNumber":"sch.2-sec.48","sectionType":"section","heading":"Not applied","content":"### sch.2-sec.48 Not applied","sortOrder":16},{"sectionNumber":"sch.2-sec.49","sectionType":"section","heading":"Not applied","content":"### sch.2-sec.49 Not applied","sortOrder":17},{"sectionNumber":"sch.2-sec.50","sectionType":"section","heading":"Not applied","content":"### sch.2-sec.50 Not applied","sortOrder":18},{"sectionNumber":"sch.2-pt.3-div.4","sectionType":"division","heading":"Provision about tabling documents","content":"## Provision about tabling documents","sortOrder":19},{"sectionNumber":"sch.2-sec.51","sectionType":"section","heading":"Tabling of documents when Legislative Assembly not sitting","content":"### sch.2-sec.51 Tabling of documents when Legislative Assembly not sitting\n\nThis section applies if the Legislative Assembly is not sitting when the shareholding Ministers of a GOC are required, under this standard, to table a document other than a document to which the Parliament of Queensland Act 2001 , section 59 applies.\nThe shareholding Ministers must give a copy of the document to the Clerk of the Parliament.\nThe Clerk of the Parliament must table the document before the Legislative Assembly on its next sitting day.\nThe document is taken to have been tabled in the Legislative Assembly on the day it is given to the Clerk of the Parliament.\nThe day of receipt of the document must be recorded in the votes and proceedings on the next sitting day.\nIf the Legislative Assembly orders the document to be published, the document is taken to have been ordered to be published by the Legislative Assembly on the day the Clerk of the Parliament receives it.\n(sch.2-sec.51-ssec.1) This section applies if the Legislative Assembly is not sitting when the shareholding Ministers of a GOC are required, under this standard, to table a document other than a document to which the Parliament of Queensland Act 2001 , section 59 applies.\n(sch.2-sec.51-ssec.2) The shareholding Ministers must give a copy of the document to the Clerk of the Parliament.\n(sch.2-sec.51-ssec.3) The Clerk of the Parliament must table the document before the Legislative Assembly on its next sitting day.\n(sch.2-sec.51-ssec.4) The document is taken to have been tabled in the Legislative Assembly on the day it is given to the Clerk of the Parliament.\n(sch.2-sec.51-ssec.5) The day of receipt of the document must be recorded in the votes and proceedings on the next sitting day.\n(sch.2-sec.51-ssec.6) If the Legislative Assembly orders the document to be published, the document is taken to have been ordered to be published by the Legislative Assembly on the day the Clerk of the Parliament receives it.","sortOrder":20}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":true,"description":"The published schedule marks numerous provisions as 'Not applied', so the operative reporting framework is narrower than a fully populated schedule. That pattern reduces the number of active obligations and leaves gaps that stakeholders must identify by reference to which sections are applied (see multiple 'Not applied' notes throughout sch.2-pt.3)."},"complexity_factors":["Frequent 'Not applied' entries across many sections create navigation and applicability uncertainty (e.g. sch.2-sec.36–40, 44–50).","Cross‑references to external statutes increase interpretive steps (Corporations Act — sch.2-sec.41; Government Owned Corporations Act 1993 — sch.2-sec.46).","Specific timing constraints and deadlines require calendar management: audit/reporting timeline (audit report finished within 2 months of year‑end, sch.2-sec.41) and annual report delivery by 15 September (sch.2-sec.47).","Confidentiality and limited‑release regime constrains information flows and defines narrow permitted recipients with listed exceptions (sch.2-sec.42).","Ministerial discretion to extend preparation/tabling periods exists, with procedural requirements and reporting obligations when extensions exceed 6 months (sch.2-sec.47(4)–(5)).","Operational obligations to consider and, where appropriate, act on authorised auditor comments introduce governance and compliance duties for GOC boards or equivalent (sch.2-sec.43).","Procedural tabling rule when Parliament is not sitting assigns duties to shareholding Ministers and the Clerk, and fixes deemed tabling dates (sch.2-sec.51).","Permitting electronic annual reports only if paper copies are also available adds a record‑keeping and distribution compliance element (sch.2-sec.46(4))."],"plain_english_summary":"This regulation sets reporting rules for Government Owned Corporations (GOCs) and prescribed GOC subsidiaries: when and how to provide audited annual financial statements, who may receive them before parliamentary tabling, how to consider auditor reports, what annual reports must include, and tabling procedures with the Legislative Assembly. It affects GOC management, authorised auditors, shareholding Ministers and Parliament by imposing timelines, confidentiality limits, obligations to consider audit findings and limited ministerial discretion to extend tabling deadlines (see ss.41–47, 42, 43, 51)."},"kimi_summary":{"content_quality":"ok","complexity_score":4,"scope_assessment":{"changed":false,"description":"This appears to be a standard regulatory provision dealing with financial reporting requirements for government owned corporations. The scope aligns with the title 'Government Owned Corporations Regulation 2024' and the specific Part dealing with 'Reporting'. There is no evidence of scope creep beyond the original purpose of regulating GOC financial accountability."},"complexity_factors":["Multiple 'Not applied' placeholders indicating this is a partial or excerpted version of a larger instrument (sections 36, 37, 38, 39, 40, 44, 45, 48, 49, 50, and various subsections marked 'Not applied')","Cross-references to the Corporations Act and Government Owned Corporations Act 1993 without reproducing those provisions","Nested exceptions in section 42 (general prohibition on releasing financial statements, followed by specific permitted recipients, followed by exceptions to the prohibition)","Conditional timing requirements with extensions and further extensions in section 47","Deemed tabling provisions in section 51 creating legal fictions about when documents are considered tabled","Defined terms used but not defined in this excerpt (GOC, prescribed GOC subsidiary, shareholding Ministers, authorised auditor, preparation period, tabling period)"],"plain_english_summary":"This legislation sets out the rules for how **Government Owned Corporations (GOCs)** and their subsidiaries in Queensland must report their finances and operations to Parliament and the public.\n\n**What it does:**\n- **Timing of audits:** GOCs must agree with their auditor on a deadline that allows the audit to finish within 2 months after the financial year ends.\n- **Confidentiality before tabling:** GOCs cannot release their annual financial statements to the public before they are tabled in Parliament, except to specific people like auditors, government ministers, employees, or those helping prepare the statements. There are limited exceptions where ministers authorise release or another law requires it.\n- **Responding to auditor feedback:** When a GOC receives its audited financial statements, it must formally consider them at its next board meeting. If the auditor makes suggestions, the GOC must consider them and act if appropriate.\n- **What annual reports must include:** Reports must contain certified financial statements, information required by the Government Owned Corporations Act 1993, and any information ministers need to assess whether the GOC is efficient, effective, economical, and still needed. Reports can be electronic as long as paper copies are also available.\n- **Deadlines for submission:** GOCs must give their annual reports to shareholding ministers between the end of the financial year and 15 September. Ministers can extend this deadline, but if the extension pushes tabling beyond 6 months after year-end, they must explain the delay to Parliament.\n- **Tabling when Parliament isn't sitting:** If Parliament is not sitting when a document must be tabled, ministers give it to the Clerk of Parliament instead. It is treated as tabled on that day and formally presented when Parliament next sits.\n\n**Who it affects:**\n- Queensland Government Owned Corporations (state-owned businesses)\n- Their subsidiaries\n- Shareholding ministers (ministers responsible for these corporations)\n- The Auditor-General and authorised auditors\n- The Queensland Parliament and its Clerk\n\n**Why it matters:**\nThis ensures government-owned businesses are financially transparent and accountable to Parliament and the public. It prevents premature release of sensitive financial information, ensures proper audit oversight, and guarantees timely reporting to maintain public trust in how state assets are managed."},"issue_detection":{"absurdities":[{"type":"self_contradicting","section":"sch.2-sec.47-ssec.5","severity":"high","reasoning":"Section 47(4) explicitly grants the shareholding Ministers power to extend the 'preparation period' (the period for the GOC to give the report to Ministers). Section 47(5) then says 'if the shareholding Ministers extend the tabling period to a period of more than 6 months' — but no power to extend a 'tabling period' is conferred anywhere in section 47. The tabling obligation under s47(6) is derivative of the preparation period. Using 'tabling period' in s47(5) is legally incoherent because that term is undefined and no such extension power exists, making it unclear when the notification obligation to the Legislative Assembly is triggered.","confidence":0.87,"description":"Section 47(5) refers to extending the 'tabling period' but section 47(4) only grants power to extend the 'preparation period'. These are distinct concepts under the section, yet subsection (5) treats an extension of the preparation period as if it were an extension of the tabling period, creating a mismatch in the operative trigger for the notification obligation."},{"type":"impossible_compliance","section":"sch.2-sec.47-ssec.2","severity":"medium","reasoning":"If a GOC operates on a financial year ending, say, 31 October, then the preparation period would start 1 November and end on 15 September 'of that year' — meaning 15 September of the same calendar year, which has already passed. The period would have a negative duration, rendering compliance impossible. The drafting assumes a 30 June financial year without expressly stating this limitation.","confidence":0.72,"description":"The preparation period is defined as starting 'immediately after the end of the financial year' and ending on '15 September of that year'. For a standard financial year ending 30 June, this is coherent. However, the phrase 'of that year' is ambiguous — 'that year' could refer to the financial year (which ends 30 June, making 15 September of the same calendar year workable) or the year in which the financial year ends. For GOCs with non-standard financial years ending after 15 September, the end date would precede the start date, making compliance temporally impossible."},{"type":"other","section":"sch.2-sec.43-ssec.1","severity":"low","reasoning":"The GOC prepares the financial statements, gives them to the auditor, and then 'receives' them back. The mandatory consideration obligation at a board meeting is sound in purpose but the language implies the GOC lacks the statements during the audit period and must await their return before consideration can occur — creating an implicit prohibition on interim board consideration of its own financial statements during audit.","confidence":0.61,"description":"Section 43(1) requires consideration of the auditor's report at 'the first ordinary meeting held after' the GOC receives the annual financial statements back from the authorised auditor. However, section 41 requires the GOC to give the statements to the auditor, and the auditor returns them with a report. The section presupposes the GOC 'receives' the statements back — but the GOC prepared and owns the statements. The GOC is receiving its own documents back. The obligation to 'consider' documents the GOC itself prepared and originally held is of questionable logical utility, though it is legally operable."},{"type":"circular_definition","section":"sch.2-sec.46-ssec.4","severity":"low","reasoning":"The condition precedent to releasing an electronic report is that paper copies already exist and are obtainable. The electronic report must state how to obtain paper copies, implying the paper distribution system must be operational at the moment the electronic report is published. There is no provision for what occurs if the paper copies become unavailable after initial release, nor is there guidance on whether the electronic version becomes non-compliant if paper availability lapses.","confidence":0.65,"description":"Section 46(4) permits electronic annual reports only if 'copies of the report are also available in paper form' AND the electronic form states how paper copies may be obtained. This creates a logical circularity: the electronic report must describe how to obtain paper copies, but this presupposes the paper copies already exist and a distribution mechanism is established before the electronic version is finalised — meaning the paper version must precede or be simultaneous with the electronic version, defeating much of the efficiency purpose of electronic reporting."},{"type":"retroactive_impossibility","section":"sch.2-sec.51-ssec.6","severity":"medium","reasoning":"The entire section applies only when the Legislative Assembly is not sitting (s51(1)). Yet s51(6) contemplates the Assembly 'ordering' publication and deems this order to have occurred on the day the Clerk received the document — a day the Assembly was definitively not sitting. This creates a legal fiction that attributes a formal parliamentary order to a day on which the parliament lacked the legal capacity to make any order. While the intent is procedural convenience, the mechanism is internally self-defeating.","confidence":0.82,"description":"Section 51(6) states that if the Legislative Assembly 'orders the document to be published', it is taken to have been so ordered on the day the Clerk receives it. However, the section's operative context is that the Legislative Assembly is NOT sitting. A body that is not sitting cannot make orders. The fiction that the Assembly ordered publication on the day of receipt is therefore legally incoherent — the Assembly cannot issue an order on a day it is not sitting, and the deeming provision attempts to retroactively attribute a parliamentary act to a day when parliament had no capacity to act."}],"contradictions":[{"severity":"high","section_a":"sch.2-sec.47-ssec.4","section_b":"sch.2-sec.47-ssec.5","confidence":0.88,"description":"Section 47(4) grants power to extend the 'preparation period' (the period for the GOC to deliver the report to Ministers), while section 47(5) imposes obligations triggered by extending the 'tabling period'. These are distinct periods under the section's own structure, yet s47(5) treats them as interchangeable. An extension of the preparation period is not legally equivalent to an extension of the tabling period, creating uncertainty about when the notification obligation to the Legislative Assembly arises."},{"severity":"medium","section_a":"sch.2-sec.42-ssec.1","section_b":"sch.2-sec.42-ssec.2","confidence":0.74,"description":"Section 42(1) prohibits giving the annual financial statements to the shareholding Ministers before tabling — listing them as a permitted exception. Section 42(2)(a) then separately permits giving statements to persons 'under an authority given by the shareholding Ministers'. This creates a structural contradiction: the shareholding Ministers themselves may receive the statements under s42(1)(a)(ii), but third parties authorised by those Ministers may also receive them under s42(2)(a). However, s42(1) frames the Minister exception as exhaustive ('other than'), while s42(2) operates as an additional carve-out, creating ambiguity about whether ministerially-authorised persons fall under s42(1)'s permitted list or s42(2)'s exception regime — with different legal consequences for breach."},{"severity":"high","section_a":"sch.2-sec.41-ssec.3","section_b":"sch.2-sec.47-ssec.2","confidence":0.79,"description":"Section 41(3) requires the audit and auditor's report to be finished no later than 2 months after the end of the financial year (i.e., by 31 August for a 30 June year-end). Section 47(2) requires the GOC to give the annual report — which under s46(3)(f) must contain the auditor-certified financial statements — to shareholding Ministers by 15 September. Section 46(3)(f) requires the statements in the annual report to be 'certified by the authorised auditor', which cannot occur until the audit is complete. These provisions are sequentially coherent in normal operation, but s47(2)'s deadline of 15 September implicitly requires the audit (due by 31 August under s41(3)) to already be complete. If the audit overruns — even with ministerial extension of the preparation period under s47(4) — the annual report cannot lawfully contain uncertified statements, making compliance with an extended preparation period impossible unless s41(3)'s deadline is also extended. No mechanism for extending s41(3) is provided."},{"severity":"low","section_a":"sch.2-sec.51-ssec.4","section_b":"sch.2-sec.51-ssec.5","confidence":0.68,"description":"Section 51(4) deems the document to have been tabled on the day it is given to the Clerk. Section 51(5) requires the day of receipt to be recorded in the votes and proceedings on the next sitting day. The votes and proceedings record what occurs on a given sitting day. Recording a past event (the deemed tabling) in future proceedings is procedurally unusual and creates a technical inconsistency: the official parliamentary record (votes and proceedings) will reflect a tabling date different from the sitting day on which the record is made, potentially creating confusion in parliamentary records about when the tabling legally occurred versus when it was recorded."}]},"summary":{"complexity_score":5,"scope_assessment":{"changed":false,"description":"The provisions appear to implement their stated purpose consistently — establishing reporting, auditing, and parliamentary accountability obligations for Queensland Government Owned Corporations. The repeated 'Not applied' markers indicate deliberate narrowing from a broader template (likely a model financial reporting standard), but this appears to be by design rather than scope creep. The operative provisions align tightly with the stated subject matter of financial reporting and accountability."},"complexity_factors":["Multiple interlocking entities (GOCs, prescribed GOC subsidiaries, shareholding Ministers, authorised auditors, Auditor-General, Clerk of Parliament) with distinct roles and obligations","Operates as a schedule/standard within a broader regulatory framework, requiring cross-referencing with the Government Owned Corporations Act 1993, Corporations Act, and Parliament of Queensland Act 2001","Numerous 'Not applied' provisions throughout, suggesting this is an adapted version of a template or model law — readers must understand what has been deliberately omitted and why","Layered confidentiality rules with multiple exceptions that must be read together","Tiered deadline system (preparation period, extension provisions, 6-month trigger, 14-day notice requirement, 15-day tabling window) that requires careful sequencing to understand","Distinction between 'shareholding GOC' and 'prescribed GOC subsidiary' adds structural complexity for those unfamiliar with the GOC framework","Dual-format reporting obligation (electronic + paper) with specific compliance conditions"],"plain_english_summary":"Part 3 of Schedule 2 requires Government Owned Corporations and their subsidiaries to deliver audited financial statements and annual reports to shareholding ministers by set deadlines, keep financials confidential until parliamentary tabling, and have boards consider audit findings.\n\nMinisters must table reports in Parliament (or give them to the Clerk during recess); extensions over six months trigger a public explanation. The rules ensure audited transparency and parliamentary accountability for taxpayer-owned businesses."}},"importantCases":[],"_links":{"self":"/api/acts/government-owned-corporations-regulation-2024","history":"/api/acts/government-owned-corporations-regulation-2024/history","analysis":"/api/acts/government-owned-corporations-regulation-2024/analysis","conflicts":"/api/acts/government-owned-corporations-regulation-2024/conflicts","importantCases":"/api/acts/government-owned-corporations-regulation-2024/important-cases","documents":"/api/acts/government-owned-corporations-regulation-2024/documents"}}