{"id":"C1973A00042","name":"Pipeline Authority Act 1973","slug":"pipeline-authority-act-1973","collection":"act","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"42 of 1973","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":2540,"registerId":"commonwealth-C1973A00042-current","compilationNumber":null,"startDate":"2026-03-29","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Part I","sectionType":"part","heading":"Preliminary","content":"## Part I—Preliminary","sortOrder":0},{"sectionNumber":"1","sectionType":"section","heading":"Short title [see Note 1]","content":"#### 1 Short title \\[see Note 1\\]\n\n  This Act may be cited as the Pipeline Authority Act 1973.","sortOrder":1},{"sectionNumber":"2","sectionType":"section","heading":"Commencement [see Note 1]","content":"#### 2 Commencement \\[see Note 1\\]\n\n  This Act shall come into operation on a date to be fixed by Proclamation.","sortOrder":2},{"sectionNumber":"3","sectionType":"section","heading":"Interpretation","content":"#### 3 Interpretation\n\n  (1) In this Act a reference to the Authority is a reference to the Pipeline Authority as it was established by this Act before the repeal day.\n  (2) In this section:\n\n> repeal day has the same meaning as in Part 8 of the Moomba‑Sydney Pipeline System Sale Act 1994.","sortOrder":3},{"sectionNumber":"Part V","sectionType":"part","heading":"Finance","content":"## Part V—Finance","sortOrder":4},{"sectionNumber":"25A","sectionType":"section","heading":"Borrowings otherwise than from Commonwealth","content":"#### 25A Borrowings otherwise than from Commonwealth\n\n  (1) The Authority may, with the approval of the Treasurer:\n    (a) borrow money otherwise than from the Commonwealth; or\n    (b) raise money otherwise than by borrowing;\n  on terms and conditions that are specified in, or consistent with, the approval.\n  (2) Without limiting the generality of subsection (1), the Authority may, under that subsection, borrow money, or raise money otherwise than by borrowing, by dealing with securities.\n  (3) A borrowing of money, or a raising of money otherwise than by borrowing, under subsection (1) may be made, in whole or in part, in a currency other than Australian currency.\n  (4) An approval may be given under subsection (1) in relation to a particular transaction or in relation to transactions included in a class of transactions.\n  (5) An approval under subsection (1) shall be given in writing.\n  (6) For the purposes of this section:\n    (a) the issue by the Authority of an instrument acknowledging a debt in consideration of:\n    (i) the payment or deposit of money; or\n    (ii) the provision of credit;\n    otherwise than in relation to a transaction that is in the ordinary course of the day‑to‑day operations of the Authority shall be deemed to be a raising by the Authority, otherwise than by borrowing, of an amount of money equal to the amount of the money paid or deposited or the value of the credit provided, as the case may be; and\n    (b) the obtaining of credit by the Authority otherwise than in relation to a transaction that is in the ordinary course of the day‑to‑day operations of the Authority shall be deemed to be a raising by the Authority, otherwise than by borrowing, of an amount of money equal to the value of the credit so obtained.","sortOrder":5},{"sectionNumber":"25B","sectionType":"section","heading":"Guarantee of borrowings by Authority","content":"#### 25B Guarantee of borrowings by Authority\n\n  (1) The Treasurer may, on behalf of the Commonwealth, enter into a contract:\n    (a) guaranteeing the repayment by the Authority of money borrowed under paragraph 25A(1)(a) and the payment by the Authority of interest (including any interest on that interest) on money so borrowed; or\n    (b) guaranteeing the payment by the Authority of such amounts (which may be interest) that the Authority is liable to pay with respect to money raised under paragraph 25A(1)(b) as are specified in the contract.\n  (2) The Treasurer may, in writing, determine:\n    (a) that the repayment by the Authority of money borrowed under paragraph 25A(1)(a), and the payment by the Authority of interest (including any interest on that interest) on money so borrowed, are guaranteed by the Commonwealth; or\n    (b) that the payment by the Authority of such money (which may be interest) that the Authority is liable to pay with respect to money raised under paragraph 25A(1)(b) as is specified in the determination is guaranteed by the Commonwealth;\n  and, where the Treasurer makes such a determination, the repayment of that money and the payment of that interest are, or the payment of that money is, by force of this subsection, guaranteed by the Commonwealth.\n  (3) A contract may be entered into under subsection (1), and a determination may be made under subsection (2), in relation to a particular transaction or in relation to transactions included in a class of transactions.\n  (4) A contract entered into under subsection (1) may include either or both of the following provisions:\n    (a) a provision agreeing, on behalf of the Commonwealth, that proceedings under the contract may be taken in the courts, or a specified court, of a country other than Australia;\n    (b) a provision waiving, on behalf of the Commonwealth, the immunity of the Commonwealth from suit in the courts, or a specified court, of a country other than Australia in relation to any proceedings that may be taken under the contract.","sortOrder":6},{"sectionNumber":"25C","sectionType":"section","heading":"Authority may give security","content":"#### 25C Authority may give security\n\n  The Authority may give security over the whole or any part of its land or other assets for:\n    (a) the repayment by the Authority of money borrowed by the Authority under section 25 or paragraph 25A(1)(a) and the payment by the Authority of interest (including any interest on that interest) on money so borrowed;\n    (b) the payment by the Authority of amounts (including any interest) that the Authority is liable to pay with respect to money raised by the Authority under paragraph 25A(1)(b); or\n    (c) the payment to the Commonwealth of amounts equal to any amounts that the Commonwealth may become liable to pay under a contract entered into under subsection 25B(1) or a determination made under subsection 25B(2).","sortOrder":7},{"sectionNumber":"25D","sectionType":"section","heading":"Borrowings not otherwise permitted","content":"#### 25D Borrowings not otherwise permitted\n\n  The Authority shall not borrow money, or raise money otherwise than by borrowing, except in accordance with sections 25 and 25A.","sortOrder":8},{"sectionNumber":"25E","sectionType":"section","heading":"Delegation by Treasurer","content":"#### 25E Delegation by Treasurer\n\n  (1) The Treasurer may, either generally or as otherwise provided by the instrument of delegation, by writing signed by the Treasurer, delegate to a person holding or performing the duties of an office in the Department of the Treasury all or any of the powers of the Treasurer under sections 25A and 25B.\n  (2) A power so delegated, when exercised by the delegate, shall, for the purposes of this Part, be deemed to have been exercised by the Treasurer.\n  (3) A delegate is, in the exercise of a power so delegated, subject to the directions of the Treasurer.\n  (4) A delegation under subsection (1) does not prevent the exercise of a power by the Treasurer.","sortOrder":9},{"sectionNumber":"26","sectionType":"section","heading":"Bank accounts","content":"#### 26 Bank accounts\n\n  (1) The Authority may open and maintain an account or accounts with an approved bank or approved banks and shall maintain at all times at least one such account.\n  (2) The Authority shall pay all moneys of the Authority, including moneys borrowed by the Authority, into an account referred to in this section.","sortOrder":10},{"sectionNumber":"27","sectionType":"section","heading":"Application of moneys","content":"#### 27 Application of moneys\n\n  (1) The moneys of the Authority may be applied by the Authority:\n    (a) in payment or discharge of the costs, expenses and other obligations of the Authority under this Act; and\n    (b) in payment of remuneration and allowances payable to any person under this Act;\n  but not otherwise.\n  (2) Moneys of the Authority not immediately required for the purposes of the Authority may be invested:\n    (a) on deposit with an approved bank;\n    (b) in securities of the Commonwealth; or\n    (c) in any other manner approved by the Treasurer.","sortOrder":11},{"sectionNumber":"28","sectionType":"section","heading":"Financial policy","content":"#### 28 Financial policy\n\n  (1) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is commenced by the Authority; and\n    (b) the Authority continues to operate and maintain any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) the construction of the pipeline; and\n    (d) the operation and maintenance of the transferred pipelines; and\n    (e) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (f) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (2) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is not commenced by the Authority; and\n    (b) the Authority continues to operate and maintain any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) the operation and maintenance of the transferred pipelines; and\n    (d) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (e) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (3) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is not commenced by the Authority; and\n    (b) the Authority does not continue to operate any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (d) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (4) In this section:\n\n> Sale Act means the Moomba‑Sydney Pipeline System Sale Act 1994.\n\n> sale day has the same meaning as in the Sale Act.\n\n> transferred pipeline means a pipeline that ceases to be an asset of the Authority because of the Sale Act.","sortOrder":12},{"sectionNumber":"28A","sectionType":"section","heading":"Estimates","content":"#### 28A Estimates\n\n  The Authority shall prepare estimates, in such form as the Minister directs, of its receipts and expenditure for each financial year and, if so directed by the Minister, for any other period, and shall submit those estimates to the Minister not later than such date as the Minister directs.","sortOrder":13},{"sectionNumber":"30","sectionType":"section","heading":"Profits of the Authority","content":"#### 30 Profits of the Authority\n\n  (1) For the purposes of this Act, the profits of the Authority for a financial year are the amount, if any, remaining after deducting from the revenue received or receivable in respect of that financial year the expenditure, and provision for expenditure, properly chargeable against that revenue.\n  (2) Subject to section 30A, the profits of the Authority for a financial year shall be applied in such manner as the Minister, with the concurrence of the Minister for Finance determines.\n  (3) In making a determination under subsection (2), regard shall be had to any advice which the Authority has furnished to the Minister in relation to the financial affairs of the Authority.","sortOrder":14},{"sectionNumber":"30A","sectionType":"section","heading":"Authority to pay dividends from subsidiaries to Commonwealth","content":"#### 30A Authority to pay dividends from subsidiaries to Commonwealth\n\n  The Authority must pay to the Commonwealth amounts of dividends received by the Authority from subsidiary companies other than such amounts as are specified by the Minister in a written notice given to the Authority.","sortOrder":15},{"sectionNumber":"31","sectionType":"section","heading":"Proper accounts to be kept","content":"#### 31 Proper accounts to be kept\n\n  The Authority shall cause to be kept proper accounts and records of the transactions and affairs of the Authority in accordance with the accounting principles generally applied in commercial practice and shall do all things necessary to ensure that all payments out of its moneys are correctly made and properly authorized and that adequate control is maintained over the assets of, or in the custody of, the Authority and over the incurring of liabilities by the Authority.","sortOrder":16},{"sectionNumber":"32","sectionType":"section","heading":"Audit","content":"#### 32 Audit\n\n  (1) The Auditor‑General shall inspect and audit the accounts and records of financial transactions of the Authority and records relating to assets of, or in the custody of, the Authority and shall forthwith draw the attention of the Minister to any irregularity disclosed by the inspection and audit that is, in the opinion of the Auditor‑General, of sufficient importance to justify his or her doing so.\n  (2) The Auditor‑General may, in his or her discretion, dispense with all or any part of the detailed inspection and audit of any accounts or records referred to in subsection (1).\n  (3) The Auditor‑General shall, at least once in each year, report to the Minister the results of the inspection and audit carried out under subsection (1).\n  (4) The Auditor‑General or an officer authorized by the Auditor‑General is entitled at all reasonable times to full and free access to all accounts, records, documents and papers of the Authority relating directly or indirectly to the receipt or payment of moneys by the Authority or to the acquisition, receipt, custody or disposal of assets by the Authority.\n  (5) The Auditor‑General or an officer authorized by the Auditor‑General may make copies of, or take extracts from, any such accounts, records, documents or papers.\n  (6) The Auditor‑General or an officer authorized by the Auditor‑General may require any person to furnish him or her with such information in the possession of the person or to which the person has access as the Auditor‑General or authorized officer considers necessary for the purposes of the functions of the Auditor‑General under this Act, and the person shall comply with the requirement.\n  (7) A person who contravenes subsection (6) is guilty of an offence punishable, upon conviction, by a fine not exceeding $200.","sortOrder":17},{"sectionNumber":"33","sectionType":"section","heading":"Liability to taxation","content":"#### 33 Liability to taxation\n\n  (1) Subject to subsection (2A), the Authority is subject to taxation (other than income tax) under the laws of the Commonwealth.\n  (2) Subject to subsection (3), the Authority is not subject to taxation under a law of a State or of a Territory.\n  (2A) Where the Treasurer so determines by notice published in the Gazette, stamp duty, or any similar tax, is not payable by the Authority or any other person under a law of the Commonwealth or of a State or Territory in respect of:\n    (a) a security dealt with by the Authority;\n    (b) the issue, redemption, transfer, sale, purchase, re‑sale, acquisition or discounting of such a security by the Authority or any other person, not including a transaction done without consideration or for an inadequate consideration;\n    (c) any other transaction done for the purposes of a borrowing or other raising of moneys by the Authority; or\n    (d) any other document executed by or on behalf of the Authority for the purposes of a borrowing or other raising of moneys by the Authority.\n  (2B) The power conferred on the Treasurer by subsection (2A) to make a determination extends to the making of a determination in respect of securities included in a specified class or specified classes of securities and in respect of documents or transactions included in a specified class or specified classes of documents or transactions.\n  (3) Subject to subsection (2A), the regulations may provide that subsection (2) does not apply in relation to taxation under a specified law of a State or Territory.","sortOrder":18},{"sectionNumber":"33A","sectionType":"section","heading":"Liability of subsidiary to taxation","content":"#### 33A Liability of subsidiary to taxation\n\n  (1) Subject to Division 5 of Part VA, a subsidiary company is subject to taxation under the laws of the Commonwealth and a State or Territory.\n  (2) A subsidiary company is not a public authority for the purposes of paragraph 23(d) of the Income Tax Assessment Act 1936.","sortOrder":19},{"sectionNumber":"Part VA","sectionType":"part","heading":"Re‑organisation of the Business of the Authority","content":"An Act to establish a Pipeline Authority\n\n## Part I—Preliminary\n\n#### 1 Short title \\[see Note 1\\]\n\n  This Act may be cited as the Pipeline Authority Act 1973.\n\n#### 2 Commencement \\[see Note 1\\]\n\n  This Act shall come into operation on a date to be fixed by Proclamation.\n\n#### 3 Interpretation\n\n  (1) In this Act a reference to the Authority is a reference to the Pipeline Authority as it was established by this Act before the repeal day.\n  (2) In this section:\n\n> repeal day has the same meaning as in Part 8 of the Moomba‑Sydney Pipeline System Sale Act 1994.\n\n  \n\n## Part V—Finance\n\n#### 25A Borrowings otherwise than from Commonwealth\n\n  (1) The Authority may, with the approval of the Treasurer:\n    (a) borrow money otherwise than from the Commonwealth; or\n    (b) raise money otherwise than by borrowing;\n  on terms and conditions that are specified in, or consistent with, the approval.\n  (2) Without limiting the generality of subsection (1), the Authority may, under that subsection, borrow money, or raise money otherwise than by borrowing, by dealing with securities.\n  (3) A borrowing of money, or a raising of money otherwise than by borrowing, under subsection (1) may be made, in whole or in part, in a currency other than Australian currency.\n  (4) An approval may be given under subsection (1) in relation to a particular transaction or in relation to transactions included in a class of transactions.\n  (5) An approval under subsection (1) shall be given in writing.\n  (6) For the purposes of this section:\n    (a) the issue by the Authority of an instrument acknowledging a debt in consideration of:\n    (i) the payment or deposit of money; or\n    (ii) the provision of credit;\n    otherwise than in relation to a transaction that is in the ordinary course of the day‑to‑day operations of the Authority shall be deemed to be a raising by the Authority, otherwise than by borrowing, of an amount of money equal to the amount of the money paid or deposited or the value of the credit provided, as the case may be; and\n    (b) the obtaining of credit by the Authority otherwise than in relation to a transaction that is in the ordinary course of the day‑to‑day operations of the Authority shall be deemed to be a raising by the Authority, otherwise than by borrowing, of an amount of money equal to the value of the credit so obtained.\n\n#### 25B Guarantee of borrowings by Authority\n\n  (1) The Treasurer may, on behalf of the Commonwealth, enter into a contract:\n    (a) guaranteeing the repayment by the Authority of money borrowed under paragraph 25A(1)(a) and the payment by the Authority of interest (including any interest on that interest) on money so borrowed; or\n    (b) guaranteeing the payment by the Authority of such amounts (which may be interest) that the Authority is liable to pay with respect to money raised under paragraph 25A(1)(b) as are specified in the contract.\n  (2) The Treasurer may, in writing, determine:\n    (a) that the repayment by the Authority of money borrowed under paragraph 25A(1)(a), and the payment by the Authority of interest (including any interest on that interest) on money so borrowed, are guaranteed by the Commonwealth; or\n    (b) that the payment by the Authority of such money (which may be interest) that the Authority is liable to pay with respect to money raised under paragraph 25A(1)(b) as is specified in the determination is guaranteed by the Commonwealth;\n  and, where the Treasurer makes such a determination, the repayment of that money and the payment of that interest are, or the payment of that money is, by force of this subsection, guaranteed by the Commonwealth.\n  (3) A contract may be entered into under subsection (1), and a determination may be made under subsection (2), in relation to a particular transaction or in relation to transactions included in a class of transactions.\n  (4) A contract entered into under subsection (1) may include either or both of the following provisions:\n    (a) a provision agreeing, on behalf of the Commonwealth, that proceedings under the contract may be taken in the courts, or a specified court, of a country other than Australia;\n    (b) a provision waiving, on behalf of the Commonwealth, the immunity of the Commonwealth from suit in the courts, or a specified court, of a country other than Australia in relation to any proceedings that may be taken under the contract.\n\n#### 25C Authority may give security\n\n  The Authority may give security over the whole or any part of its land or other assets for:\n    (a) the repayment by the Authority of money borrowed by the Authority under section 25 or paragraph 25A(1)(a) and the payment by the Authority of interest (including any interest on that interest) on money so borrowed;\n    (b) the payment by the Authority of amounts (including any interest) that the Authority is liable to pay with respect to money raised by the Authority under paragraph 25A(1)(b); or\n    (c) the payment to the Commonwealth of amounts equal to any amounts that the Commonwealth may become liable to pay under a contract entered into under subsection 25B(1) or a determination made under subsection 25B(2).\n\n#### 25D Borrowings not otherwise permitted\n\n  The Authority shall not borrow money, or raise money otherwise than by borrowing, except in accordance with sections 25 and 25A.\n\n#### 25E Delegation by Treasurer\n\n  (1) The Treasurer may, either generally or as otherwise provided by the instrument of delegation, by writing signed by the Treasurer, delegate to a person holding or performing the duties of an office in the Department of the Treasury all or any of the powers of the Treasurer under sections 25A and 25B.\n  (2) A power so delegated, when exercised by the delegate, shall, for the purposes of this Part, be deemed to have been exercised by the Treasurer.\n  (3) A delegate is, in the exercise of a power so delegated, subject to the directions of the Treasurer.\n  (4) A delegation under subsection (1) does not prevent the exercise of a power by the Treasurer.\n\n#### 26 Bank accounts\n\n  (1) The Authority may open and maintain an account or accounts with an approved bank or approved banks and shall maintain at all times at least one such account.\n  (2) The Authority shall pay all moneys of the Authority, including moneys borrowed by the Authority, into an account referred to in this section.\n\n#### 27 Application of moneys\n\n  (1) The moneys of the Authority may be applied by the Authority:\n    (a) in payment or discharge of the costs, expenses and other obligations of the Authority under this Act; and\n    (b) in payment of remuneration and allowances payable to any person under this Act;\n  but not otherwise.\n  (2) Moneys of the Authority not immediately required for the purposes of the Authority may be invested:\n    (a) on deposit with an approved bank;\n    (b) in securities of the Commonwealth; or\n    (c) in any other manner approved by the Treasurer.\n\n#### 28 Financial policy\n\n  (1) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is commenced by the Authority; and\n    (b) the Authority continues to operate and maintain any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) the construction of the pipeline; and\n    (d) the operation and maintenance of the transferred pipelines; and\n    (e) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (f) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (2) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is not commenced by the Authority; and\n    (b) the Authority continues to operate and maintain any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) the operation and maintenance of the transferred pipelines; and\n    (d) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (e) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (3) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is not commenced by the Authority; and\n    (b) the Authority does not continue to operate any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (d) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (4) In this section:\n\n> Sale Act means the Moomba‑Sydney Pipeline System Sale Act 1994.\n\n> sale day has the same meaning as in the Sale Act.\n\n> transferred pipeline means a pipeline that ceases to be an asset of the Authority because of the Sale Act.\n\n#### 28A Estimates\n\n  The Authority shall prepare estimates, in such form as the Minister directs, of its receipts and expenditure for each financial year and, if so directed by the Minister, for any other period, and shall submit those estimates to the Minister not later than such date as the Minister directs.\n\n#### 30 Profits of the Authority\n\n  (1) For the purposes of this Act, the profits of the Authority for a financial year are the amount, if any, remaining after deducting from the revenue received or receivable in respect of that financial year the expenditure, and provision for expenditure, properly chargeable against that revenue.\n  (2) Subject to section 30A, the profits of the Authority for a financial year shall be applied in such manner as the Minister, with the concurrence of the Minister for Finance determines.\n  (3) In making a determination under subsection (2), regard shall be had to any advice which the Authority has furnished to the Minister in relation to the financial affairs of the Authority.\n\n#### 30A Authority to pay dividends from subsidiaries to Commonwealth\n\n  The Authority must pay to the Commonwealth amounts of dividends received by the Authority from subsidiary companies other than such amounts as are specified by the Minister in a written notice given to the Authority.\n\n#### 31 Proper accounts to be kept\n\n  The Authority shall cause to be kept proper accounts and records of the transactions and affairs of the Authority in accordance with the accounting principles generally applied in commercial practice and shall do all things necessary to ensure that all payments out of its moneys are correctly made and properly authorized and that adequate control is maintained over the assets of, or in the custody of, the Authority and over the incurring of liabilities by the Authority.\n\n#### 32 Audit\n\n  (1) The Auditor‑General shall inspect and audit the accounts and records of financial transactions of the Authority and records relating to assets of, or in the custody of, the Authority and shall forthwith draw the attention of the Minister to any irregularity disclosed by the inspection and audit that is, in the opinion of the Auditor‑General, of sufficient importance to justify his or her doing so.\n  (2) The Auditor‑General may, in his or her discretion, dispense with all or any part of the detailed inspection and audit of any accounts or records referred to in subsection (1).\n  (3) The Auditor‑General shall, at least once in each year, report to the Minister the results of the inspection and audit carried out under subsection (1).\n  (4) The Auditor‑General or an officer authorized by the Auditor‑General is entitled at all reasonable times to full and free access to all accounts, records, documents and papers of the Authority relating directly or indirectly to the receipt or payment of moneys by the Authority or to the acquisition, receipt, custody or disposal of assets by the Authority.\n  (5) The Auditor‑General or an officer authorized by the Auditor‑General may make copies of, or take extracts from, any such accounts, records, documents or papers.\n  (6) The Auditor‑General or an officer authorized by the Auditor‑General may require any person to furnish him or her with such information in the possession of the person or to which the person has access as the Auditor‑General or authorized officer considers necessary for the purposes of the functions of the Auditor‑General under this Act, and the person shall comply with the requirement.\n  (7) A person who contravenes subsection (6) is guilty of an offence punishable, upon conviction, by a fine not exceeding $200.\n\n#### 33 Liability to taxation\n\n  (1) Subject to subsection (2A), the Authority is subject to taxation (other than income tax) under the laws of the Commonwealth.\n  (2) Subject to subsection (3), the Authority is not subject to taxation under a law of a State or of a Territory.\n  (2A) Where the Treasurer so determines by notice published in the Gazette, stamp duty, or any similar tax, is not payable by the Authority or any other person under a law of the Commonwealth or of a State or Territory in respect of:\n    (a) a security dealt with by the Authority;\n    (b) the issue, redemption, transfer, sale, purchase, re‑sale, acquisition or discounting of such a security by the Authority or any other person, not including a transaction done without consideration or for an inadequate consideration;\n    (c) any other transaction done for the purposes of a borrowing or other raising of moneys by the Authority; or\n    (d) any other document executed by or on behalf of the Authority for the purposes of a borrowing or other raising of moneys by the Authority.\n  (2B) The power conferred on the Treasurer by subsection (2A) to make a determination extends to the making of a determination in respect of securities included in a specified class or specified classes of securities and in respect of documents or transactions included in a specified class or specified classes of documents or transactions.\n  (3) Subject to subsection (2A), the regulations may provide that subsection (2) does not apply in relation to taxation under a specified law of a State or Territory.\n\n#### 33A Liability of subsidiary to taxation\n\n  (1) Subject to Division 5 of Part VA, a subsidiary company is subject to taxation under the laws of the Commonwealth and a State or Territory.\n  (2) A subsidiary company is not a public authority for the purposes of paragraph 23(d) of the Income Tax Assessment Act 1936.\n\n  \n\n## Part VA—Re‑organisation of the Business of the Authority\n\n### Division 1—Interpretation\n\n#### 33C Interpretation\n\n  In this Part, unless the contrary intention appears:\n\n> Assessment Act means the Income Tax Assessment Act 1936.\n\n> asset means property of any kind, and includes:\n\n    (a) any legal or equitable estate or interest (whether present or future, vested or contingent, tangible or intangible) in real or personal property of any description; and\n    (b) any chose in action; and\n    (c) any right, interest or claim of any kind in or in relation to property (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing).\n\n> authorised person means the Minister or a person authorised, in writing, by the Minister for the purposes of this Part.\n\n> delivery point means any point on a pipeline where petroleum is delivered by the Authority to a person.\n\n> instrument means an instrument of any kind, and includes:\n\n    (a) any contract, deed, undertaking or agreement; and\n    (b) any mandate, instruction, notice, authority or order; and\n    (c) any lease, licence, transfer, conveyance or other assurance; and\n    (d) any guarantee, bond, power of attorney, bill of lading, negotiable instrument or order for the payment of money; and\n    (e) any mortgage, charge, lien or security;\n  whether express or implied and whether made or given orally or in writing.\n\n> instrument to which this Part applies means an instrument:\n\n    (a) to which the Authority is a party; or\n    (b) that was given to, by or in favour of the Authority; or\n    (c) in which a reference is made to the Authority; or\n    (d) under which any money is or may become payable, or any other property is to be, or may become liable to be, transferred, conveyed or assigned, to or by the Authority.\n\n> interest in relation to land, means:\n\n    (a) a legal or equitable estate or interest in land; or\n    (b) a right, power or privilege over, or in relation to, the land.\n\n> liability means a liability of any kind, and includes an obligation of any kind (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing).\n\n> Lithgow pipeline means the Authority’s pipeline originating at a point on the Moomba Sydney pipeline near Young in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Orange;\n    (b) Bathurst;\n    (c) Blayney;\n    (d) Lithgow.\n\n> Moomba means Moomba in South Australia.\n\n> Moomba‑Sydney pipeline means the Authority’s pipeline from Moomba to the delivery point at Wilton in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Bowral;\n    (b) Goulburn;\n    (c) Marulan;\n    (d) Moss Vale.\n\n> Moomba‑Sydney pipeline system means the pipeline system consisting of the following pipelines:\n\n    (a) the Moomba‑Sydney pipeline;\n    (b) the Lithgow pipeline;\n    (c) the Wagga pipeline.\n\n> nominated staff member means a person to whom a determination under section 33R applies.\n\n> non‑transferring asset means:\n\n    (a) the Moomba‑Sydney pipeline system; and\n    (b) any interests in relation to the land on or under which the pipelines for the Moomba‑Sydney pipeline system are constructed; and\n    (c) any other asset that does not become, under this Part, an asset of the receiving subsidiary.\n\n> non‑transferring instrument means an instrument to which this Part applies that does not become, under this Part, an instrument of the receiving subsidiary.\n\n> non‑transferring liability means a liability that does not become, under this Part, a liability of the receiving subsidiary.\n\n> proceeding to which this Part applies means a proceeding to which the Authority is a party, other than a proceeding that does not relate to the transferred business.\n\n> re‑organisation day means the day fixed under section 33D.\n\n> share means a share in the share capital of a company, and includes stock.\n\n> staff member means a person who is an officer or employee of the Authority.\n\n> tax exempt matter means:\n\n    (a) the nomination of the receiving subsidiary under section 33E; and\n    (b) the making of a determination under section 33F; and\n    (c) business of the Authority ceasing, under this Part, to be business of the Authority and becoming business of the receiving subsidiary; and\n    (d) the issue of shares under section 33M; and\n    (e) the operation of this Part in any other respect; and\n    (f) giving effect to a matter referred to in another paragraph of this definition or otherwise giving effect to this Part.\n\n> transfer day, in relation to a nominated staff member, means the day applicable to the staff member in the determination under section 33R that is applicable to the staff member.\n\n> transferring asset means an asset other than:\n\n    (a) the Moomba‑Sydney pipeline system; and\n    (b) any interests in relation to the land on or under which the pipelines for the Moomba‑Sydney pipeline system are constructed;\n  to which a determination under paragraph 33F(1)(a) applies.\n\n> transferring business means the business that becomes, under this Part, business of the receiving subsidiary; and\n\n> transferring instrument means an instrument (other than an instrument relating to the Moomba‑Sydney pipeline system) to which a determination under paragraph 33F(1)(c) applies.\n\n> transferring liability means a liability (other than a liability relating to the Moomba‑Sydney pipeline system) to which a determination under paragraph 33F(1)(b) applies.\n\n> transferring staff member means a staff member who, under this Part, becomes employed by the receiving subsidiary.\n\n> Wagga pipeline means the Authority’s pipeline originating at a point on the Moomba‑Sydney pipeline near Young in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Cootamundra;\n    (b) Junee;\n    (c) Wagga Wagga;\n    (d) Young.\n\n> wholly‑owned subsidiary, in relation to the Authority, means a body corporate:\n\n    (a) that has been formed by the Authority; and\n    (b) that is a subsidiary of the Authority; and\n    (c) none of whose members is a person other than:\n    (i) the Authority; or\n    (ii) a body corporate that is, under any other applications of this definition, a wholly‑owned subsidiary of the Authority; or\n    (iii) a nominee of the Authority or of a body of the kind referred to in subparagraph (ii); and\n    (d) no share in which is beneficially owned by a person other than:\n    (i) the Authority; or\n    (ii) a body of the kind referred to in subparagraph (c)(ii).\n\n  \n\n### Division 2—Steps leading to re‑organisation\n\n#### 33D Fixing the day on which re‑organisation is to take place—the re‑organisation day\n\n  The Minister may, by notice in the Gazette , fix a day as the day on which the re‑organisation under this Part is to take place.\n\n#### 33E Nomination of subsidiary to which business is to be transferred—the receiving subsidiary\n\n  (1) Subject to subsection (2), the Minister must, before the re‑organisation day, by notice in the Gazette, nominate a subsidiary of the Authority as the receiving subsidiary for the purposes of this Part.\n  (2) The Minister must not nominate a subsidiary under subsection (1) unless the subsidiary is:\n    (a) a company incorporated under the Corporations Act 2001; and\n    (b) a wholly‑owned subsidiary; and\n    (c) a trading corporation within the meaning of paragraph 51(xx) of the Constitution.\n  (3) If a subsidiary nominated under subsection (1) ceases, on or before the re‑organisation day, to be a subsidiary of the Authority of the kind described in subsection (2), the Minister must revoke the nomination.\n  (4) For all purposes, and in all proceedings, relating to this Act, proof of the fact that a body corporate was nominated under subsection (1) is to be taken:\n    (a) to have been, on the day of the nomination, a subsidiary of the Authority of the kind described in subsection (2); and\n    (b) at all times thereafter until the re‑organisation day, to have continued to be such a subsidiary.\n\n#### 33F Determination of assets, instruments and liabilities to be transferred etc.—the transferring assets, instruments and liabilities\n\n  (1) The Minister may, by notice in the Gazette:\n    (a) declare a specified asset of the Authority to be a transferring asset; or\n    (b) declare a specified liability of the Authority to be a transferring liability; or\n    (c) declare a specified instrument to which this Part applies to be a transferring instrument.\n  (2) A declaration under subsection (1) may only be made before the re‑organisation day.\n\n  \n\n### Division 3—The re‑organisation\n\n#### 33G Transferred business of Authority becomes business of receiving subsidiary\n\n  On the re‑organisation day, the transferred business of the Authority ceases, by force of this section, to be business of the Authority and becomes business of the receiving subsidiary.\n\n#### 33H Transferring assets and transferring liabilities of Authority become assets and liabilities of receiving subsidiary\n\n  Without limiting section 33G, on the re‑organisation day, all transferring assets and transferring liabilities of the Authority cease to be assets and liabilities of the Authority and become assets and liabilities of the receiving subsidiary.\n\n#### 33J Instruments\n\n  (1) Without limiting section 33G, an instrument to which this Part applies continues, subject to subsection (2), in full force and effect on and after the re‑organisation day.\n  (2) A transferring instrument has effect, in relation to acts, transactions and matters done, entered into or occurring on or after the re‑ organisation day, as if a reference in the instrument to the Authority were a reference to the receiving subsidiary.\n\n#### 33K Pending proceedings\n\n  Without limiting section 33G, if a proceeding to which this Part applies is, immediately before the re‑organisation day, pending in a court, the receiving subsidiary is, on that day, substituted for the Authority as a party.\n\n#### 33L Valuation of transferring business\n\n  (1) The Minister must, by written notice given to the Authority and the receiving subsidiary not later than 7 days after the re‑organisation day, determine:\n    (a) the market value of each transferring asset on the re‑organisation day; and\n    (b) the amount of each transferring liability on that day.\n  (2) The net value of the transferring assets on the re‑organisation day is the amount worked out by subtracting the total amount of the transferring liabilities from the total market value of the transferring assets on that day.\n  (3) For all purposes and in all proceedings, the net value of the transferring business is taken to be the amount determined under subsection (2) as the net value of the transferring assets on that day.\n\n#### 33M Issue of shares in receiving subsidiary to Authority in relation to transferring business\n\n  (1) On the day on which the receiving subsidiary is given the notice under subsection 33L(1), the receiving subsidiary must, subject to subsection (2), issue shares in the receiving subsidiary to the Authority.\n  (2) The shares issued to the Authority are taken to have been fully paid up and to have been issued for valuable consideration.\n\n#### 33N Authorised person may certify matters in relation to re‑organisation\n\n  (1) An authorised person may, by signed writing, certify any matter in relation to the operation of this Division and, in particular, may certify:\n    (a) whether specified assets are or are not transferring assets or non‑transferring assets; and\n    (b) whether specified liabilities are or are not transferring liabilities or non‑transferring liabilities; and\n    (c) whether specified instruments are or are not non‑transferring instruments or other instruments to which this Part applies.\n  (2) A document purporting to be a certificate under subsection (1) is, unless the contrary intention is established, taken to be such a certificate and to have been properly given.\n\n#### 33P Extraterritorial operation of Division\n\n  It is the intention of the Parliament that this Division should apply, to the greatest extent possible, in relation to:\n    (a) things situated outside Australia; and\n    (b) acts, transactions and matters done, entered into or occurring outside Australia; and\n    (c) things, acts, transactions and matters (wherever situated, done, entered into or occurring) that would, apart from this Act, be governed or otherwise affected by the law of a foreign country.\n\n#### 33Q Authority to take steps necessary to carry out re‑organisation\n\n  The Authority must take such steps as are necessary to ensure that this Division is fully effective, particularly in relation to its operation outside Australia.\n\n  \n\n### Division 4—Transfer of staff\n\n#### 33R Determination of staff to be transferred to receiving subsidiary\n\n  The Chief Executive Officer may, in writing, determine that the employment of specified staff members is to be transferred to the receiving subsidiary on and from the day, or the respective days, specified in the determination.\n\n#### 33S Employment of nominated staff member to continue with receiving subsidiary\n\n  Subject to sections 33T and 33U, each nominated staff member who is a staff member immediately before his or her transfer day is, on and from the transfer day, taken to be employed by the receiving subsidiary on the terms and conditions on which he or she was employed by the Authority immediately before the transfer day.\n\n#### 33T Act not to affect certain matters relating to transferring staff members\n\n  (1) This section has effect for the purposes of the application, at any time on or after the transfer day of a transferring staff member, of a law, award, determination or agreement in relation to the employment of the transferring staff member.\n  (2) Neither the transferring staff member’s contract of employment, nor his or her period of employment, is taken to have been broken by the operation of this Part.\n  (3) Without limiting section 33S or subsection (2) of this section, this Part does not affect any accrued rights that the transferring staff member had immediately before the transfer day in relation to any kind of leave.\n  (4) Where, if a transferred staff member had, immediately before the transfer day, ceased to be employed by the Authority:\n    (a) it would have been necessary to take into account a period during which the transferring staff member was employed by the Authority or any other person to determine:\n    (i) an amount payable to the transferring staff member; or\n    (ii) a benefit to which the transferring staff member would have been entitled;\n    because of his or her so ceasing; and\n    (b) apart from this subsection, some or all of that period would not have to be taken into account as a period during which the staff member was employed by the receiving subsidiary;\n  the receiving subsidiary must treat the whole of the first‑mentioned period as a period during which the transferring staff member was employed by it.\n\n#### 33U Variation of terms and conditions of employment\n\n  (1) It is a term of each transferring staff member’s employment after his or her transfer day that the terms and conditions of that employment may be varied to the extent to which, and the manner in which, the terms and conditions of his or her employment could be varied under this Act immediately before the transfer day.\n  (2) This Part does not prevent the terms and conditions of a transferring staff member’s employment after his or her transfer day from being varied:\n    (a) in accordance with those terms and conditions; or\n    (b) by or under a law, award, determination or agreement.\n  (3) In this section:\n\n> terms and conditions includes a term or condition existing because of subsection (1).\n\n> vary, in relation to terms and conditions, includes vary by way of:\n\n    (a) omitting any of those terms and conditions; or\n    (b) adding to those terms and conditions; or\n    (c) substituting new terms or conditions for any of those terms and conditions.\n\n  \n\n### Division 5—Taxation matters\n\n#### 33V Exemptions relating to tax exempt matters\n\n  (1) Tax under a law of the Commonwealth or a State or Territory is not payable in relation to:\n    (a) a tax exempt matter; or\n    (b) anything done (including, for example, a transaction entered into or an instrument made, executed, lodged or given) because of, or for a purpose connected with or arising out of, a tax exempt matter.\n  (2) In subsection (1):\n\n> tax includes:\n\n    (a) sales tax; and\n    (b) stamp duty; and\n    (c) any other tax, fee, duty, levy or charge;\n  but does not include income tax imposed as such by a law of the Commonwealth or fees payable under the Corporations Act 2001.\n\n#### 33W Value of trading stock for income tax purposes\n\n  (1) For the purpose of ascertaining under Subdivision B of Division 2 of Part III of the Assessment Act the value of the receiving subsidiary’s trading stock on hand at the beginning of the year of income in which the re‑organisation day occurs:\n    (a) the receiving subsidiary is taken to have opted for market selling price; and\n    (b) the market selling price of petroleum transferred to the receiving subsidiary is taken to be the Authority’s market selling price of the petroleum assuming the petroleum were not transferred.\n  (2) Unless the contrary intention appears, expressions used in this section, and in Subdivision B of Division 2 of Part III of the Assessment Act, have the same respective meanings as in that Subdivision.\n\n#### 33X Capital gains tax—assets acquired on or after 20 September 1985\n\n  (1) This section applies in relation to an asset that:\n    (a) was acquired by the Authority on or after 20 September 1985; and\n    (b) is acquired by the receiving subsidiary on the re‑organisation day.\n  (2) For the purposes of calculating whether, under Part IIIA of the Assessment Act, a capital gain accrues to, or a capital loss is incurred by, the receiving subsidiary on the disposal of the asset by the subsidiary, the subsidiary is taken to have paid as consideration for the acquisition of the asset an amount calculated in accordance with this section.\n  (3) If it is necessary to determine whether a capital gain has accrued, the consideration paid by the subsidiary for the acquisition of the asset is to be taken to have been:\n    (a) if the market value of the asset on the re‑organisation day is greater than the amount that would have been the indexed cost base (indexed cost base) to the Authority for the purposes of Part IIIA of the Assessment Act if that Part had applied in respect of that disposal by the Authority to the receiving subsidiary—an amount equal to the market value of the asset; or\n    (b) in any other case—an amount equal to the amount that would have been the indexed cost base.\n  (4) Where it is necessary to determine whether a capital loss has been incurred, the consideration paid by the subsidiary for the acquisition of the asset is to be taken to have been:\n    (a) if the market value of the asset on the re‑organisation day is less than the amount that would have been the reduced cost base (reduced cost base) to the Authority for the purposes of Part IIIA of the Assessment Act if that Part had applied in respect of that disposal by the Authority to the receiving subsidiary—an amount equal to the market value of the asset; or\n    (b) in any other case—an amount equal to the amount that would have been the reduced cost base.\n  (5) If the transferred asset is disposed of by the receiving subsidiary within 12 months of its acquisition by the Authority, subsection (3) has effect as if the references in that subsection to the indexed cost base to the Authority in relation to the asset were references to the cost base to the Authority in relation to the asset.\n  (6) Unless the contrary intention appears, expressions used in this section and in Part IIIA of the Assessment Act have the same respective meanings as in that Part.\n\n#### 33Y Capital gains tax—assets acquired before 20 September 1985\n\n  (1) A transferred asset of the receiving subsidiary that was acquired by the Authority before 20 September 1985 is taken, for the purposes of Part IIIA of the Assessment Act, to have been acquired by the receiving subsidiary before that date.\n  (2) Unless the contrary intention appears, expressions used in this section and in Part IIIA of the Assessment Act have the same respective meanings as in that Part.\n\n#### 33Z Superannuation payments\n\n  For the purposes of section 82AAC of the Assessment Act, a payment made by the receiving subsidiary of the Authority to the Commonwealth under:\n    (a) the Superannuation Act 1976; or\n    (b) the Superannuation Act 1990;\n  is taken to be a contribution to a fund for the purpose mentioned in paragraph 82AAC(1)(a) of the Assessment Act, being a fund that is an eligible superannuation fund, within the meaning of Part IX of the Assessment Act, in relation to the year of income of the fund in which the payment is made.\n\n  \n\n### Division 6—Miscellaneous\n\n#### 33ZA Certificates in relation to land and interests in land\n\n  If:\n    (a) land or an interest in land becomes, under this Part, land or an interest in land of the receiving subsidiary; and\n    (b) a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the land or interest, whether by reference to a map or otherwise; and\n    (iii) states that the land or interest has, under this Part, become land or an interest in land of the receiving subsidiary;\n    is lodged with the Registrar‑General, Registrar of Titles or other proper officer of the State or Territory in which the land is situated;\n  the officer with whom the certificate is lodged may:\n    (c) deal with, and give effect to, the certificate as if it were a grant, conveyance, memorandum or instrument of transfer of the land (including all rights, title and interest in the land) or the interest in the land, as the case may be, to the receiving subsidiary that had been properly executed under the laws in force in the State or Territory; and\n    (d) make such entries in the register as are necessary having regard to the effect of section 33H.\n\n#### 33ZB Certificates in relation to other assets\n\n  If:\n    (a) an asset (other than an asset in relation to which section 33V, 33W, 33X or 33Y applies) becomes, under this Part, an asset of the receiving subsidiary; and\n    (b) a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the asset; and\n    (iii) states that the asset has, under this Part, become an asset of the receiving subsidiary;\n    is given to the person or authority who has, under the law of the Commonwealth or of a State or Territory, responsibility for keeping a register in relation to assets of that kind;\n  the person or authority may:\n    (c) deal with, and give effect to, the certificate as if the certificate were a proper and appropriate instrument for transactions in relation to assets of that kind; and\n    (d) make such entries in the register as are necessary having regard to the effect of section 33H.\n\n#### 33ZC Part to have effect in spite of laws and agreements prohibiting transfer etc.\n\n  (1) This Part has effect, and must be given effect to, in spite of anything in:\n    (a) any other law of the Commonwealth or any law of a State or Territory; or\n    (b) any contract, deed, undertaking, agreement or other instrument.\n  (2) No provision of this Part, and nothing done by a person because of, or for a purpose connected with or arising out of, this Part:\n    (a) is to be regarded as:\n    (i) placing the Authority, a subsidiary of the Authority or another person in breach of contract or confidence; or\n    (ii) otherwise making the Authority, a subsidiary of the Authority or another person guilty of a civil wrong; or\n    (b) is to be regarded as placing the Authority, a subsidiary of the Authority or another person in breach of:\n    (i) any law of the Commonwealth or of a State or Territory; or\n    (ii) any contractual provision prohibiting, restricting or regulating the assignment or transfer of any asset or liability or the disclosure of any information; or\n    (c) is to be taken to release any surety from any of the surety’s obligations.\n  (3) Without limiting subsection (1), if, apart from this section, the consent of a person would be necessary in order to give effect to this Part in a particular respect, the consent is taken to have been given.\n\n#### 33ZD Compensation for acquisition of property\n\n  (1) If, apart from this section, the operation of this Part would result in the acquisition of property from a person otherwise than on just terms, there is payable to the person by the Authority such reasonable amount of compensation as is agreed on between the person and the Authority or, failing agreement, as is determined by a court of competent jurisdiction.\n  (2) Any damages or compensation recovered, or other remedy given, in a proceeding instituted otherwise than under this section must be taken into account in assessing compensation payable in a proceeding instituted under this section and arising out of the same event or transaction.\n  (3) In this section, acquisition of property and just terms have the same respective meanings as in paragraph 51(xxxi) of the Constitution.\n\n  \n\n## Part VB—Transfer to Gorodok of easements of the Authority relating to the Moomba‑Botany Pipeline\n\n#### 33ZE Definitions\n\n  In this Part, unless the contrary intention appears:\n\n> authorised person means:\n\n    (a) the Minister; or\n    (b) a person authorised by the Minister, in writing, for the purposes of this Part.\n\n> easement includes a right in relation to land.\n\n> Gorodok means Gorodok Proprietary Limited (A.C.N. 057 156 751).\n\n> instrument includes a document.\n\n> Moomba‑Botany pipeline means the pipeline that, when constructed, will carry gas from Moomba in South Australia to Botany in New South Wales.\n\n> transfer day, in relation to a transferring interest, means the day specified in a notice under section 33ZF.\n\n> transferring interest means an easement specified in a notice under section 33ZF.\n\n#### 33ZF Specifying the easements etc. to be transferred to Gorodok and the transfer day\n\n  (1) An authorised person may, by notice in the Gazette, specify:\n    (a) an easement that relates to the Moomba‑Botany pipeline; and\n    (b) the transfer day for that easement.\n  (2) The authorised person may make and publish one or more notices under subsection (1).\n\n#### 33ZG Transfer to Gorodok of transferring interests of the Authority\n\n  By force of this section, each transferring interest of the Authority:\n    (a) ceases to be an asset of the Authority; and\n    (b) becomes an asset of Gorodok;\n  on the transfer day for the interest.\n\n#### 33ZH Instruments relating to the transferring interests of the Authority\n\n  (1) An authorised person may, by notice in the Gazette, on or before the transfer day for a particular transferring interest, specify an instrument that relates to the interest for the purposes of this section.\n  (2) An instrument specified in a notice under subsection (1) continues to have effect, on and after the transfer day for the transferring interest that relates to the instrument, as if a reference in the instrument to the Authority were a reference to Gorodok.\n\n#### 33ZJ Certificates in relation to interests in land\n\n  (1) This section applies if:\n    (a) an interest in land becomes an interest in land of Gorodok under this Part; and\n    (b) there is lodged with a land registration official a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the interest, whether by reference to a map or otherwise; and\n    (iii) states that the interest has become an interest in land of Gorodok under this Part.\n  (2) The land registration official may:\n    (a) register the matter in the same way in which dealings in in land of that kind are registered; and\n    (b) deal with, and give effect to, the certificate.\n  (3) A document that appears to be a certificate under subsection (1) is taken to be such a certificate and to have been properly given unless the contrary is established.\n  (4) In this section:\n\n> land registration official means the Registrar of Titles or other proper officer of the State in which the land concerned is situated.\n\n#### 33ZK Commonwealth and Authority to take steps necessary to carry out transfers\n\n  The Commonwealth and the Authority must take the steps that are necessary to ensure that this Part is fully effective.\n\n#### 33ZL Part to have effect in spite of laws prohibiting transfers\n\n  (1) This Part has effect, and must be given effect to, in spite of anything in:\n    (a) any law of the Commonwealth or any law of a State or Territory; or\n    (b) any instrument.\n  (2) Without limiting subsection (1), if the consent of a person is necessary in order to give effect to this Part in a particular respect, the consent is taken to have been given.","sortOrder":20},{"sectionNumber":"Division 1","sectionType":"division","heading":"Interpretation","content":"An Act to establish a Pipeline Authority\n\n## Part I—Preliminary\n\n#### 1 Short title \\[see Note 1\\]\n\n  This Act may be cited as the Pipeline Authority Act 1973.\n\n#### 2 Commencement \\[see Note 1\\]\n\n  This Act shall come into operation on a date to be fixed by Proclamation.\n\n#### 3 Interpretation\n\n  (1) In this Act a reference to the Authority is a reference to the Pipeline Authority as it was established by this Act before the repeal day.\n  (2) In this section:\n\n> repeal day has the same meaning as in Part 8 of the Moomba‑Sydney Pipeline System Sale Act 1994.\n\n  \n\n## Part V—Finance\n\n#### 25A Borrowings otherwise than from Commonwealth\n\n  (1) The Authority may, with the approval of the Treasurer:\n    (a) borrow money otherwise than from the Commonwealth; or\n    (b) raise money otherwise than by borrowing;\n  on terms and conditions that are specified in, or consistent with, the approval.\n  (2) Without limiting the generality of subsection (1), the Authority may, under that subsection, borrow money, or raise money otherwise than by borrowing, by dealing with securities.\n  (3) A borrowing of money, or a raising of money otherwise than by borrowing, under subsection (1) may be made, in whole or in part, in a currency other than Australian currency.\n  (4) An approval may be given under subsection (1) in relation to a particular transaction or in relation to transactions included in a class of transactions.\n  (5) An approval under subsection (1) shall be given in writing.\n  (6) For the purposes of this section:\n    (a) the issue by the Authority of an instrument acknowledging a debt in consideration of:\n    (i) the payment or deposit of money; or\n    (ii) the provision of credit;\n    otherwise than in relation to a transaction that is in the ordinary course of the day‑to‑day operations of the Authority shall be deemed to be a raising by the Authority, otherwise than by borrowing, of an amount of money equal to the amount of the money paid or deposited or the value of the credit provided, as the case may be; and\n    (b) the obtaining of credit by the Authority otherwise than in relation to a transaction that is in the ordinary course of the day‑to‑day operations of the Authority shall be deemed to be a raising by the Authority, otherwise than by borrowing, of an amount of money equal to the value of the credit so obtained.\n\n#### 25B Guarantee of borrowings by Authority\n\n  (1) The Treasurer may, on behalf of the Commonwealth, enter into a contract:\n    (a) guaranteeing the repayment by the Authority of money borrowed under paragraph 25A(1)(a) and the payment by the Authority of interest (including any interest on that interest) on money so borrowed; or\n    (b) guaranteeing the payment by the Authority of such amounts (which may be interest) that the Authority is liable to pay with respect to money raised under paragraph 25A(1)(b) as are specified in the contract.\n  (2) The Treasurer may, in writing, determine:\n    (a) that the repayment by the Authority of money borrowed under paragraph 25A(1)(a), and the payment by the Authority of interest (including any interest on that interest) on money so borrowed, are guaranteed by the Commonwealth; or\n    (b) that the payment by the Authority of such money (which may be interest) that the Authority is liable to pay with respect to money raised under paragraph 25A(1)(b) as is specified in the determination is guaranteed by the Commonwealth;\n  and, where the Treasurer makes such a determination, the repayment of that money and the payment of that interest are, or the payment of that money is, by force of this subsection, guaranteed by the Commonwealth.\n  (3) A contract may be entered into under subsection (1), and a determination may be made under subsection (2), in relation to a particular transaction or in relation to transactions included in a class of transactions.\n  (4) A contract entered into under subsection (1) may include either or both of the following provisions:\n    (a) a provision agreeing, on behalf of the Commonwealth, that proceedings under the contract may be taken in the courts, or a specified court, of a country other than Australia;\n    (b) a provision waiving, on behalf of the Commonwealth, the immunity of the Commonwealth from suit in the courts, or a specified court, of a country other than Australia in relation to any proceedings that may be taken under the contract.\n\n#### 25C Authority may give security\n\n  The Authority may give security over the whole or any part of its land or other assets for:\n    (a) the repayment by the Authority of money borrowed by the Authority under section 25 or paragraph 25A(1)(a) and the payment by the Authority of interest (including any interest on that interest) on money so borrowed;\n    (b) the payment by the Authority of amounts (including any interest) that the Authority is liable to pay with respect to money raised by the Authority under paragraph 25A(1)(b); or\n    (c) the payment to the Commonwealth of amounts equal to any amounts that the Commonwealth may become liable to pay under a contract entered into under subsection 25B(1) or a determination made under subsection 25B(2).\n\n#### 25D Borrowings not otherwise permitted\n\n  The Authority shall not borrow money, or raise money otherwise than by borrowing, except in accordance with sections 25 and 25A.\n\n#### 25E Delegation by Treasurer\n\n  (1) The Treasurer may, either generally or as otherwise provided by the instrument of delegation, by writing signed by the Treasurer, delegate to a person holding or performing the duties of an office in the Department of the Treasury all or any of the powers of the Treasurer under sections 25A and 25B.\n  (2) A power so delegated, when exercised by the delegate, shall, for the purposes of this Part, be deemed to have been exercised by the Treasurer.\n  (3) A delegate is, in the exercise of a power so delegated, subject to the directions of the Treasurer.\n  (4) A delegation under subsection (1) does not prevent the exercise of a power by the Treasurer.\n\n#### 26 Bank accounts\n\n  (1) The Authority may open and maintain an account or accounts with an approved bank or approved banks and shall maintain at all times at least one such account.\n  (2) The Authority shall pay all moneys of the Authority, including moneys borrowed by the Authority, into an account referred to in this section.\n\n#### 27 Application of moneys\n\n  (1) The moneys of the Authority may be applied by the Authority:\n    (a) in payment or discharge of the costs, expenses and other obligations of the Authority under this Act; and\n    (b) in payment of remuneration and allowances payable to any person under this Act;\n  but not otherwise.\n  (2) Moneys of the Authority not immediately required for the purposes of the Authority may be invested:\n    (a) on deposit with an approved bank;\n    (b) in securities of the Commonwealth; or\n    (c) in any other manner approved by the Treasurer.\n\n#### 28 Financial policy\n\n  (1) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is commenced by the Authority; and\n    (b) the Authority continues to operate and maintain any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) the construction of the pipeline; and\n    (d) the operation and maintenance of the transferred pipelines; and\n    (e) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (f) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (2) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is not commenced by the Authority; and\n    (b) the Authority continues to operate and maintain any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) the operation and maintenance of the transferred pipelines; and\n    (d) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (e) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (3) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is not commenced by the Authority; and\n    (b) the Authority does not continue to operate any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (d) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (4) In this section:\n\n> Sale Act means the Moomba‑Sydney Pipeline System Sale Act 1994.\n\n> sale day has the same meaning as in the Sale Act.\n\n> transferred pipeline means a pipeline that ceases to be an asset of the Authority because of the Sale Act.\n\n#### 28A Estimates\n\n  The Authority shall prepare estimates, in such form as the Minister directs, of its receipts and expenditure for each financial year and, if so directed by the Minister, for any other period, and shall submit those estimates to the Minister not later than such date as the Minister directs.\n\n#### 30 Profits of the Authority\n\n  (1) For the purposes of this Act, the profits of the Authority for a financial year are the amount, if any, remaining after deducting from the revenue received or receivable in respect of that financial year the expenditure, and provision for expenditure, properly chargeable against that revenue.\n  (2) Subject to section 30A, the profits of the Authority for a financial year shall be applied in such manner as the Minister, with the concurrence of the Minister for Finance determines.\n  (3) In making a determination under subsection (2), regard shall be had to any advice which the Authority has furnished to the Minister in relation to the financial affairs of the Authority.\n\n#### 30A Authority to pay dividends from subsidiaries to Commonwealth\n\n  The Authority must pay to the Commonwealth amounts of dividends received by the Authority from subsidiary companies other than such amounts as are specified by the Minister in a written notice given to the Authority.\n\n#### 31 Proper accounts to be kept\n\n  The Authority shall cause to be kept proper accounts and records of the transactions and affairs of the Authority in accordance with the accounting principles generally applied in commercial practice and shall do all things necessary to ensure that all payments out of its moneys are correctly made and properly authorized and that adequate control is maintained over the assets of, or in the custody of, the Authority and over the incurring of liabilities by the Authority.\n\n#### 32 Audit\n\n  (1) The Auditor‑General shall inspect and audit the accounts and records of financial transactions of the Authority and records relating to assets of, or in the custody of, the Authority and shall forthwith draw the attention of the Minister to any irregularity disclosed by the inspection and audit that is, in the opinion of the Auditor‑General, of sufficient importance to justify his or her doing so.\n  (2) The Auditor‑General may, in his or her discretion, dispense with all or any part of the detailed inspection and audit of any accounts or records referred to in subsection (1).\n  (3) The Auditor‑General shall, at least once in each year, report to the Minister the results of the inspection and audit carried out under subsection (1).\n  (4) The Auditor‑General or an officer authorized by the Auditor‑General is entitled at all reasonable times to full and free access to all accounts, records, documents and papers of the Authority relating directly or indirectly to the receipt or payment of moneys by the Authority or to the acquisition, receipt, custody or disposal of assets by the Authority.\n  (5) The Auditor‑General or an officer authorized by the Auditor‑General may make copies of, or take extracts from, any such accounts, records, documents or papers.\n  (6) The Auditor‑General or an officer authorized by the Auditor‑General may require any person to furnish him or her with such information in the possession of the person or to which the person has access as the Auditor‑General or authorized officer considers necessary for the purposes of the functions of the Auditor‑General under this Act, and the person shall comply with the requirement.\n  (7) A person who contravenes subsection (6) is guilty of an offence punishable, upon conviction, by a fine not exceeding $200.\n\n#### 33 Liability to taxation\n\n  (1) Subject to subsection (2A), the Authority is subject to taxation (other than income tax) under the laws of the Commonwealth.\n  (2) Subject to subsection (3), the Authority is not subject to taxation under a law of a State or of a Territory.\n  (2A) Where the Treasurer so determines by notice published in the Gazette, stamp duty, or any similar tax, is not payable by the Authority or any other person under a law of the Commonwealth or of a State or Territory in respect of:\n    (a) a security dealt with by the Authority;\n    (b) the issue, redemption, transfer, sale, purchase, re‑sale, acquisition or discounting of such a security by the Authority or any other person, not including a transaction done without consideration or for an inadequate consideration;\n    (c) any other transaction done for the purposes of a borrowing or other raising of moneys by the Authority; or\n    (d) any other document executed by or on behalf of the Authority for the purposes of a borrowing or other raising of moneys by the Authority.\n  (2B) The power conferred on the Treasurer by subsection (2A) to make a determination extends to the making of a determination in respect of securities included in a specified class or specified classes of securities and in respect of documents or transactions included in a specified class or specified classes of documents or transactions.\n  (3) Subject to subsection (2A), the regulations may provide that subsection (2) does not apply in relation to taxation under a specified law of a State or Territory.\n\n#### 33A Liability of subsidiary to taxation\n\n  (1) Subject to Division 5 of Part VA, a subsidiary company is subject to taxation under the laws of the Commonwealth and a State or Territory.\n  (2) A subsidiary company is not a public authority for the purposes of paragraph 23(d) of the Income Tax Assessment Act 1936.\n\n  \n\n## Part VA—Re‑organisation of the Business of the Authority\n\n### Division 1—Interpretation\n\n#### 33C Interpretation\n\n  In this Part, unless the contrary intention appears:\n\n> Assessment Act means the Income Tax Assessment Act 1936.\n\n> asset means property of any kind, and includes:\n\n    (a) any legal or equitable estate or interest (whether present or future, vested or contingent, tangible or intangible) in real or personal property of any description; and\n    (b) any chose in action; and\n    (c) any right, interest or claim of any kind in or in relation to property (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing).\n\n> authorised person means the Minister or a person authorised, in writing, by the Minister for the purposes of this Part.\n\n> delivery point means any point on a pipeline where petroleum is delivered by the Authority to a person.\n\n> instrument means an instrument of any kind, and includes:\n\n    (a) any contract, deed, undertaking or agreement; and\n    (b) any mandate, instruction, notice, authority or order; and\n    (c) any lease, licence, transfer, conveyance or other assurance; and\n    (d) any guarantee, bond, power of attorney, bill of lading, negotiable instrument or order for the payment of money; and\n    (e) any mortgage, charge, lien or security;\n  whether express or implied and whether made or given orally or in writing.\n\n> instrument to which this Part applies means an instrument:\n\n    (a) to which the Authority is a party; or\n    (b) that was given to, by or in favour of the Authority; or\n    (c) in which a reference is made to the Authority; or\n    (d) under which any money is or may become payable, or any other property is to be, or may become liable to be, transferred, conveyed or assigned, to or by the Authority.\n\n> interest in relation to land, means:\n\n    (a) a legal or equitable estate or interest in land; or\n    (b) a right, power or privilege over, or in relation to, the land.\n\n> liability means a liability of any kind, and includes an obligation of any kind (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing).\n\n> Lithgow pipeline means the Authority’s pipeline originating at a point on the Moomba Sydney pipeline near Young in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Orange;\n    (b) Bathurst;\n    (c) Blayney;\n    (d) Lithgow.\n\n> Moomba means Moomba in South Australia.\n\n> Moomba‑Sydney pipeline means the Authority’s pipeline from Moomba to the delivery point at Wilton in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Bowral;\n    (b) Goulburn;\n    (c) Marulan;\n    (d) Moss Vale.\n\n> Moomba‑Sydney pipeline system means the pipeline system consisting of the following pipelines:\n\n    (a) the Moomba‑Sydney pipeline;\n    (b) the Lithgow pipeline;\n    (c) the Wagga pipeline.\n\n> nominated staff member means a person to whom a determination under section 33R applies.\n\n> non‑transferring asset means:\n\n    (a) the Moomba‑Sydney pipeline system; and\n    (b) any interests in relation to the land on or under which the pipelines for the Moomba‑Sydney pipeline system are constructed; and\n    (c) any other asset that does not become, under this Part, an asset of the receiving subsidiary.\n\n> non‑transferring instrument means an instrument to which this Part applies that does not become, under this Part, an instrument of the receiving subsidiary.\n\n> non‑transferring liability means a liability that does not become, under this Part, a liability of the receiving subsidiary.\n\n> proceeding to which this Part applies means a proceeding to which the Authority is a party, other than a proceeding that does not relate to the transferred business.\n\n> re‑organisation day means the day fixed under section 33D.\n\n> share means a share in the share capital of a company, and includes stock.\n\n> staff member means a person who is an officer or employee of the Authority.\n\n> tax exempt matter means:\n\n    (a) the nomination of the receiving subsidiary under section 33E; and\n    (b) the making of a determination under section 33F; and\n    (c) business of the Authority ceasing, under this Part, to be business of the Authority and becoming business of the receiving subsidiary; and\n    (d) the issue of shares under section 33M; and\n    (e) the operation of this Part in any other respect; and\n    (f) giving effect to a matter referred to in another paragraph of this definition or otherwise giving effect to this Part.\n\n> transfer day, in relation to a nominated staff member, means the day applicable to the staff member in the determination under section 33R that is applicable to the staff member.\n\n> transferring asset means an asset other than:\n\n    (a) the Moomba‑Sydney pipeline system; and\n    (b) any interests in relation to the land on or under which the pipelines for the Moomba‑Sydney pipeline system are constructed;\n  to which a determination under paragraph 33F(1)(a) applies.\n\n> transferring business means the business that becomes, under this Part, business of the receiving subsidiary; and\n\n> transferring instrument means an instrument (other than an instrument relating to the Moomba‑Sydney pipeline system) to which a determination under paragraph 33F(1)(c) applies.\n\n> transferring liability means a liability (other than a liability relating to the Moomba‑Sydney pipeline system) to which a determination under paragraph 33F(1)(b) applies.\n\n> transferring staff member means a staff member who, under this Part, becomes employed by the receiving subsidiary.\n\n> Wagga pipeline means the Authority’s pipeline originating at a point on the Moomba‑Sydney pipeline near Young in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Cootamundra;\n    (b) Junee;\n    (c) Wagga Wagga;\n    (d) Young.\n\n> wholly‑owned subsidiary, in relation to the Authority, means a body corporate:\n\n    (a) that has been formed by the Authority; and\n    (b) that is a subsidiary of the Authority; and\n    (c) none of whose members is a person other than:\n    (i) the Authority; or\n    (ii) a body corporate that is, under any other applications of this definition, a wholly‑owned subsidiary of the Authority; or\n    (iii) a nominee of the Authority or of a body of the kind referred to in subparagraph (ii); and\n    (d) no share in which is beneficially owned by a person other than:\n    (i) the Authority; or\n    (ii) a body of the kind referred to in subparagraph (c)(ii).\n\n  \n\n### Division 2—Steps leading to re‑organisation\n\n#### 33D Fixing the day on which re‑organisation is to take place—the re‑organisation day\n\n  The Minister may, by notice in the Gazette , fix a day as the day on which the re‑organisation under this Part is to take place.\n\n#### 33E Nomination of subsidiary to which business is to be transferred—the receiving subsidiary\n\n  (1) Subject to subsection (2), the Minister must, before the re‑organisation day, by notice in the Gazette, nominate a subsidiary of the Authority as the receiving subsidiary for the purposes of this Part.\n  (2) The Minister must not nominate a subsidiary under subsection (1) unless the subsidiary is:\n    (a) a company incorporated under the Corporations Act 2001; and\n    (b) a wholly‑owned subsidiary; and\n    (c) a trading corporation within the meaning of paragraph 51(xx) of the Constitution.\n  (3) If a subsidiary nominated under subsection (1) ceases, on or before the re‑organisation day, to be a subsidiary of the Authority of the kind described in subsection (2), the Minister must revoke the nomination.\n  (4) For all purposes, and in all proceedings, relating to this Act, proof of the fact that a body corporate was nominated under subsection (1) is to be taken:\n    (a) to have been, on the day of the nomination, a subsidiary of the Authority of the kind described in subsection (2); and\n    (b) at all times thereafter until the re‑organisation day, to have continued to be such a subsidiary.\n\n#### 33F Determination of assets, instruments and liabilities to be transferred etc.—the transferring assets, instruments and liabilities\n\n  (1) The Minister may, by notice in the Gazette:\n    (a) declare a specified asset of the Authority to be a transferring asset; or\n    (b) declare a specified liability of the Authority to be a transferring liability; or\n    (c) declare a specified instrument to which this Part applies to be a transferring instrument.\n  (2) A declaration under subsection (1) may only be made before the re‑organisation day.\n\n  \n\n### Division 3—The re‑organisation\n\n#### 33G Transferred business of Authority becomes business of receiving subsidiary\n\n  On the re‑organisation day, the transferred business of the Authority ceases, by force of this section, to be business of the Authority and becomes business of the receiving subsidiary.\n\n#### 33H Transferring assets and transferring liabilities of Authority become assets and liabilities of receiving subsidiary\n\n  Without limiting section 33G, on the re‑organisation day, all transferring assets and transferring liabilities of the Authority cease to be assets and liabilities of the Authority and become assets and liabilities of the receiving subsidiary.\n\n#### 33J Instruments\n\n  (1) Without limiting section 33G, an instrument to which this Part applies continues, subject to subsection (2), in full force and effect on and after the re‑organisation day.\n  (2) A transferring instrument has effect, in relation to acts, transactions and matters done, entered into or occurring on or after the re‑ organisation day, as if a reference in the instrument to the Authority were a reference to the receiving subsidiary.\n\n#### 33K Pending proceedings\n\n  Without limiting section 33G, if a proceeding to which this Part applies is, immediately before the re‑organisation day, pending in a court, the receiving subsidiary is, on that day, substituted for the Authority as a party.\n\n#### 33L Valuation of transferring business\n\n  (1) The Minister must, by written notice given to the Authority and the receiving subsidiary not later than 7 days after the re‑organisation day, determine:\n    (a) the market value of each transferring asset on the re‑organisation day; and\n    (b) the amount of each transferring liability on that day.\n  (2) The net value of the transferring assets on the re‑organisation day is the amount worked out by subtracting the total amount of the transferring liabilities from the total market value of the transferring assets on that day.\n  (3) For all purposes and in all proceedings, the net value of the transferring business is taken to be the amount determined under subsection (2) as the net value of the transferring assets on that day.\n\n#### 33M Issue of shares in receiving subsidiary to Authority in relation to transferring business\n\n  (1) On the day on which the receiving subsidiary is given the notice under subsection 33L(1), the receiving subsidiary must, subject to subsection (2), issue shares in the receiving subsidiary to the Authority.\n  (2) The shares issued to the Authority are taken to have been fully paid up and to have been issued for valuable consideration.\n\n#### 33N Authorised person may certify matters in relation to re‑organisation\n\n  (1) An authorised person may, by signed writing, certify any matter in relation to the operation of this Division and, in particular, may certify:\n    (a) whether specified assets are or are not transferring assets or non‑transferring assets; and\n    (b) whether specified liabilities are or are not transferring liabilities or non‑transferring liabilities; and\n    (c) whether specified instruments are or are not non‑transferring instruments or other instruments to which this Part applies.\n  (2) A document purporting to be a certificate under subsection (1) is, unless the contrary intention is established, taken to be such a certificate and to have been properly given.\n\n#### 33P Extraterritorial operation of Division\n\n  It is the intention of the Parliament that this Division should apply, to the greatest extent possible, in relation to:\n    (a) things situated outside Australia; and\n    (b) acts, transactions and matters done, entered into or occurring outside Australia; and\n    (c) things, acts, transactions and matters (wherever situated, done, entered into or occurring) that would, apart from this Act, be governed or otherwise affected by the law of a foreign country.\n\n#### 33Q Authority to take steps necessary to carry out re‑organisation\n\n  The Authority must take such steps as are necessary to ensure that this Division is fully effective, particularly in relation to its operation outside Australia.\n\n  \n\n### Division 4—Transfer of staff\n\n#### 33R Determination of staff to be transferred to receiving subsidiary\n\n  The Chief Executive Officer may, in writing, determine that the employment of specified staff members is to be transferred to the receiving subsidiary on and from the day, or the respective days, specified in the determination.\n\n#### 33S Employment of nominated staff member to continue with receiving subsidiary\n\n  Subject to sections 33T and 33U, each nominated staff member who is a staff member immediately before his or her transfer day is, on and from the transfer day, taken to be employed by the receiving subsidiary on the terms and conditions on which he or she was employed by the Authority immediately before the transfer day.\n\n#### 33T Act not to affect certain matters relating to transferring staff members\n\n  (1) This section has effect for the purposes of the application, at any time on or after the transfer day of a transferring staff member, of a law, award, determination or agreement in relation to the employment of the transferring staff member.\n  (2) Neither the transferring staff member’s contract of employment, nor his or her period of employment, is taken to have been broken by the operation of this Part.\n  (3) Without limiting section 33S or subsection (2) of this section, this Part does not affect any accrued rights that the transferring staff member had immediately before the transfer day in relation to any kind of leave.\n  (4) Where, if a transferred staff member had, immediately before the transfer day, ceased to be employed by the Authority:\n    (a) it would have been necessary to take into account a period during which the transferring staff member was employed by the Authority or any other person to determine:\n    (i) an amount payable to the transferring staff member; or\n    (ii) a benefit to which the transferring staff member would have been entitled;\n    because of his or her so ceasing; and\n    (b) apart from this subsection, some or all of that period would not have to be taken into account as a period during which the staff member was employed by the receiving subsidiary;\n  the receiving subsidiary must treat the whole of the first‑mentioned period as a period during which the transferring staff member was employed by it.\n\n#### 33U Variation of terms and conditions of employment\n\n  (1) It is a term of each transferring staff member’s employment after his or her transfer day that the terms and conditions of that employment may be varied to the extent to which, and the manner in which, the terms and conditions of his or her employment could be varied under this Act immediately before the transfer day.\n  (2) This Part does not prevent the terms and conditions of a transferring staff member’s employment after his or her transfer day from being varied:\n    (a) in accordance with those terms and conditions; or\n    (b) by or under a law, award, determination or agreement.\n  (3) In this section:\n\n> terms and conditions includes a term or condition existing because of subsection (1).\n\n> vary, in relation to terms and conditions, includes vary by way of:\n\n    (a) omitting any of those terms and conditions; or\n    (b) adding to those terms and conditions; or\n    (c) substituting new terms or conditions for any of those terms and conditions.\n\n  \n\n### Division 5—Taxation matters\n\n#### 33V Exemptions relating to tax exempt matters\n\n  (1) Tax under a law of the Commonwealth or a State or Territory is not payable in relation to:\n    (a) a tax exempt matter; or\n    (b) anything done (including, for example, a transaction entered into or an instrument made, executed, lodged or given) because of, or for a purpose connected with or arising out of, a tax exempt matter.\n  (2) In subsection (1):\n\n> tax includes:\n\n    (a) sales tax; and\n    (b) stamp duty; and\n    (c) any other tax, fee, duty, levy or charge;\n  but does not include income tax imposed as such by a law of the Commonwealth or fees payable under the Corporations Act 2001.\n\n#### 33W Value of trading stock for income tax purposes\n\n  (1) For the purpose of ascertaining under Subdivision B of Division 2 of Part III of the Assessment Act the value of the receiving subsidiary’s trading stock on hand at the beginning of the year of income in which the re‑organisation day occurs:\n    (a) the receiving subsidiary is taken to have opted for market selling price; and\n    (b) the market selling price of petroleum transferred to the receiving subsidiary is taken to be the Authority’s market selling price of the petroleum assuming the petroleum were not transferred.\n  (2) Unless the contrary intention appears, expressions used in this section, and in Subdivision B of Division 2 of Part III of the Assessment Act, have the same respective meanings as in that Subdivision.\n\n#### 33X Capital gains tax—assets acquired on or after 20 September 1985\n\n  (1) This section applies in relation to an asset that:\n    (a) was acquired by the Authority on or after 20 September 1985; and\n    (b) is acquired by the receiving subsidiary on the re‑organisation day.\n  (2) For the purposes of calculating whether, under Part IIIA of the Assessment Act, a capital gain accrues to, or a capital loss is incurred by, the receiving subsidiary on the disposal of the asset by the subsidiary, the subsidiary is taken to have paid as consideration for the acquisition of the asset an amount calculated in accordance with this section.\n  (3) If it is necessary to determine whether a capital gain has accrued, the consideration paid by the subsidiary for the acquisition of the asset is to be taken to have been:\n    (a) if the market value of the asset on the re‑organisation day is greater than the amount that would have been the indexed cost base (indexed cost base) to the Authority for the purposes of Part IIIA of the Assessment Act if that Part had applied in respect of that disposal by the Authority to the receiving subsidiary—an amount equal to the market value of the asset; or\n    (b) in any other case—an amount equal to the amount that would have been the indexed cost base.\n  (4) Where it is necessary to determine whether a capital loss has been incurred, the consideration paid by the subsidiary for the acquisition of the asset is to be taken to have been:\n    (a) if the market value of the asset on the re‑organisation day is less than the amount that would have been the reduced cost base (reduced cost base) to the Authority for the purposes of Part IIIA of the Assessment Act if that Part had applied in respect of that disposal by the Authority to the receiving subsidiary—an amount equal to the market value of the asset; or\n    (b) in any other case—an amount equal to the amount that would have been the reduced cost base.\n  (5) If the transferred asset is disposed of by the receiving subsidiary within 12 months of its acquisition by the Authority, subsection (3) has effect as if the references in that subsection to the indexed cost base to the Authority in relation to the asset were references to the cost base to the Authority in relation to the asset.\n  (6) Unless the contrary intention appears, expressions used in this section and in Part IIIA of the Assessment Act have the same respective meanings as in that Part.\n\n#### 33Y Capital gains tax—assets acquired before 20 September 1985\n\n  (1) A transferred asset of the receiving subsidiary that was acquired by the Authority before 20 September 1985 is taken, for the purposes of Part IIIA of the Assessment Act, to have been acquired by the receiving subsidiary before that date.\n  (2) Unless the contrary intention appears, expressions used in this section and in Part IIIA of the Assessment Act have the same respective meanings as in that Part.\n\n#### 33Z Superannuation payments\n\n  For the purposes of section 82AAC of the Assessment Act, a payment made by the receiving subsidiary of the Authority to the Commonwealth under:\n    (a) the Superannuation Act 1976; or\n    (b) the Superannuation Act 1990;\n  is taken to be a contribution to a fund for the purpose mentioned in paragraph 82AAC(1)(a) of the Assessment Act, being a fund that is an eligible superannuation fund, within the meaning of Part IX of the Assessment Act, in relation to the year of income of the fund in which the payment is made.\n\n  \n\n### Division 6—Miscellaneous\n\n#### 33ZA Certificates in relation to land and interests in land\n\n  If:\n    (a) land or an interest in land becomes, under this Part, land or an interest in land of the receiving subsidiary; and\n    (b) a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the land or interest, whether by reference to a map or otherwise; and\n    (iii) states that the land or interest has, under this Part, become land or an interest in land of the receiving subsidiary;\n    is lodged with the Registrar‑General, Registrar of Titles or other proper officer of the State or Territory in which the land is situated;\n  the officer with whom the certificate is lodged may:\n    (c) deal with, and give effect to, the certificate as if it were a grant, conveyance, memorandum or instrument of transfer of the land (including all rights, title and interest in the land) or the interest in the land, as the case may be, to the receiving subsidiary that had been properly executed under the laws in force in the State or Territory; and\n    (d) make such entries in the register as are necessary having regard to the effect of section 33H.\n\n#### 33ZB Certificates in relation to other assets\n\n  If:\n    (a) an asset (other than an asset in relation to which section 33V, 33W, 33X or 33Y applies) becomes, under this Part, an asset of the receiving subsidiary; and\n    (b) a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the asset; and\n    (iii) states that the asset has, under this Part, become an asset of the receiving subsidiary;\n    is given to the person or authority who has, under the law of the Commonwealth or of a State or Territory, responsibility for keeping a register in relation to assets of that kind;\n  the person or authority may:\n    (c) deal with, and give effect to, the certificate as if the certificate were a proper and appropriate instrument for transactions in relation to assets of that kind; and\n    (d) make such entries in the register as are necessary having regard to the effect of section 33H.\n\n#### 33ZC Part to have effect in spite of laws and agreements prohibiting transfer etc.\n\n  (1) This Part has effect, and must be given effect to, in spite of anything in:\n    (a) any other law of the Commonwealth or any law of a State or Territory; or\n    (b) any contract, deed, undertaking, agreement or other instrument.\n  (2) No provision of this Part, and nothing done by a person because of, or for a purpose connected with or arising out of, this Part:\n    (a) is to be regarded as:\n    (i) placing the Authority, a subsidiary of the Authority or another person in breach of contract or confidence; or\n    (ii) otherwise making the Authority, a subsidiary of the Authority or another person guilty of a civil wrong; or\n    (b) is to be regarded as placing the Authority, a subsidiary of the Authority or another person in breach of:\n    (i) any law of the Commonwealth or of a State or Territory; or\n    (ii) any contractual provision prohibiting, restricting or regulating the assignment or transfer of any asset or liability or the disclosure of any information; or\n    (c) is to be taken to release any surety from any of the surety’s obligations.\n  (3) Without limiting subsection (1), if, apart from this section, the consent of a person would be necessary in order to give effect to this Part in a particular respect, the consent is taken to have been given.\n\n#### 33ZD Compensation for acquisition of property\n\n  (1) If, apart from this section, the operation of this Part would result in the acquisition of property from a person otherwise than on just terms, there is payable to the person by the Authority such reasonable amount of compensation as is agreed on between the person and the Authority or, failing agreement, as is determined by a court of competent jurisdiction.\n  (2) Any damages or compensation recovered, or other remedy given, in a proceeding instituted otherwise than under this section must be taken into account in assessing compensation payable in a proceeding instituted under this section and arising out of the same event or transaction.\n  (3) In this section, acquisition of property and just terms have the same respective meanings as in paragraph 51(xxxi) of the Constitution.\n\n  \n\n## Part VB—Transfer to Gorodok of easements of the Authority relating to the Moomba‑Botany Pipeline\n\n#### 33ZE Definitions\n\n  In this Part, unless the contrary intention appears:\n\n> authorised person means:\n\n    (a) the Minister; or\n    (b) a person authorised by the Minister, in writing, for the purposes of this Part.\n\n> easement includes a right in relation to land.\n\n> Gorodok means Gorodok Proprietary Limited (A.C.N. 057 156 751).\n\n> instrument includes a document.\n\n> Moomba‑Botany pipeline means the pipeline that, when constructed, will carry gas from Moomba in South Australia to Botany in New South Wales.\n\n> transfer day, in relation to a transferring interest, means the day specified in a notice under section 33ZF.\n\n> transferring interest means an easement specified in a notice under section 33ZF.\n\n#### 33ZF Specifying the easements etc. to be transferred to Gorodok and the transfer day\n\n  (1) An authorised person may, by notice in the Gazette, specify:\n    (a) an easement that relates to the Moomba‑Botany pipeline; and\n    (b) the transfer day for that easement.\n  (2) The authorised person may make and publish one or more notices under subsection (1).\n\n#### 33ZG Transfer to Gorodok of transferring interests of the Authority\n\n  By force of this section, each transferring interest of the Authority:\n    (a) ceases to be an asset of the Authority; and\n    (b) becomes an asset of Gorodok;\n  on the transfer day for the interest.\n\n#### 33ZH Instruments relating to the transferring interests of the Authority\n\n  (1) An authorised person may, by notice in the Gazette, on or before the transfer day for a particular transferring interest, specify an instrument that relates to the interest for the purposes of this section.\n  (2) An instrument specified in a notice under subsection (1) continues to have effect, on and after the transfer day for the transferring interest that relates to the instrument, as if a reference in the instrument to the Authority were a reference to Gorodok.\n\n#### 33ZJ Certificates in relation to interests in land\n\n  (1) This section applies if:\n    (a) an interest in land becomes an interest in land of Gorodok under this Part; and\n    (b) there is lodged with a land registration official a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the interest, whether by reference to a map or otherwise; and\n    (iii) states that the interest has become an interest in land of Gorodok under this Part.\n  (2) The land registration official may:\n    (a) register the matter in the same way in which dealings in in land of that kind are registered; and\n    (b) deal with, and give effect to, the certificate.\n  (3) A document that appears to be a certificate under subsection (1) is taken to be such a certificate and to have been properly given unless the contrary is established.\n  (4) In this section:\n\n> land registration official means the Registrar of Titles or other proper officer of the State in which the land concerned is situated.\n\n#### 33ZK Commonwealth and Authority to take steps necessary to carry out transfers\n\n  The Commonwealth and the Authority must take the steps that are necessary to ensure that this Part is fully effective.\n\n#### 33ZL Part to have effect in spite of laws prohibiting transfers\n\n  (1) This Part has effect, and must be given effect to, in spite of anything in:\n    (a) any law of the Commonwealth or any law of a State or Territory; or\n    (b) any instrument.\n  (2) Without limiting subsection (1), if the consent of a person is necessary in order to give effect to this Part in a particular respect, the consent is taken to have been given.","sortOrder":21},{"sectionNumber":"33C","sectionType":"section","heading":"Interpretation","content":"#### 33C Interpretation\n\n  In this Part, unless the contrary intention appears:\n\n> Assessment Act means the Income Tax Assessment Act 1936.\n\n> asset means property of any kind, and includes:\n\n    (a) any legal or equitable estate or interest (whether present or future, vested or contingent, tangible or intangible) in real or personal property of any description; and\n    (b) any chose in action; and\n    (c) any right, interest or claim of any kind in or in relation to property (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing).\n\n> authorised person means the Minister or a person authorised, in writing, by the Minister for the purposes of this Part.\n\n> delivery point means any point on a pipeline where petroleum is delivered by the Authority to a person.\n\n> instrument means an instrument of any kind, and includes:\n\n    (a) any contract, deed, undertaking or agreement; and\n    (b) any mandate, instruction, notice, authority or order; and\n    (c) any lease, licence, transfer, conveyance or other assurance; and\n    (d) any guarantee, bond, power of attorney, bill of lading, negotiable instrument or order for the payment of money; and\n    (e) any mortgage, charge, lien or security;\n  whether express or implied and whether made or given orally or in writing.\n\n> instrument to which this Part applies means an instrument:\n\n    (a) to which the Authority is a party; or\n    (b) that was given to, by or in favour of the Authority; or\n    (c) in which a reference is made to the Authority; or\n    (d) under which any money is or may become payable, or any other property is to be, or may become liable to be, transferred, conveyed or assigned, to or by the Authority.\n\n> interest in relation to land, means:\n\n    (a) a legal or equitable estate or interest in land; or\n    (b) a right, power or privilege over, or in relation to, the land.\n\n> liability means a liability of any kind, and includes an obligation of any kind (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing).\n\n> Lithgow pipeline means the Authority’s pipeline originating at a point on the Moomba Sydney pipeline near Young in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Orange;\n    (b) Bathurst;\n    (c) Blayney;\n    (d) Lithgow.\n\n> Moomba means Moomba in South Australia.\n\n> Moomba‑Sydney pipeline means the Authority’s pipeline from Moomba to the delivery point at Wilton in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Bowral;\n    (b) Goulburn;\n    (c) Marulan;\n    (d) Moss Vale.\n\n> Moomba‑Sydney pipeline system means the pipeline system consisting of the following pipelines:\n\n    (a) the Moomba‑Sydney pipeline;\n    (b) the Lithgow pipeline;\n    (c) the Wagga pipeline.\n\n> nominated staff member means a person to whom a determination under section 33R applies.\n\n> non‑transferring asset means:\n\n    (a) the Moomba‑Sydney pipeline system; and\n    (b) any interests in relation to the land on or under which the pipelines for the Moomba‑Sydney pipeline system are constructed; and\n    (c) any other asset that does not become, under this Part, an asset of the receiving subsidiary.\n\n> non‑transferring instrument means an instrument to which this Part applies that does not become, under this Part, an instrument of the receiving subsidiary.\n\n> non‑transferring liability means a liability that does not become, under this Part, a liability of the receiving subsidiary.\n\n> proceeding to which this Part applies means a proceeding to which the Authority is a party, other than a proceeding that does not relate to the transferred business.\n\n> re‑organisation day means the day fixed under section 33D.\n\n> share means a share in the share capital of a company, and includes stock.\n\n> staff member means a person who is an officer or employee of the Authority.\n\n> tax exempt matter means:\n\n    (a) the nomination of the receiving subsidiary under section 33E; and\n    (b) the making of a determination under section 33F; and\n    (c) business of the Authority ceasing, under this Part, to be business of the Authority and becoming business of the receiving subsidiary; and\n    (d) the issue of shares under section 33M; and\n    (e) the operation of this Part in any other respect; and\n    (f) giving effect to a matter referred to in another paragraph of this definition or otherwise giving effect to this Part.\n\n> transfer day, in relation to a nominated staff member, means the day applicable to the staff member in the determination under section 33R that is applicable to the staff member.\n\n> transferring asset means an asset other than:\n\n    (a) the Moomba‑Sydney pipeline system; and\n    (b) any interests in relation to the land on or under which the pipelines for the Moomba‑Sydney pipeline system are constructed;\n  to which a determination under paragraph 33F(1)(a) applies.\n\n> transferring business means the business that becomes, under this Part, business of the receiving subsidiary; and\n\n> transferring instrument means an instrument (other than an instrument relating to the Moomba‑Sydney pipeline system) to which a determination under paragraph 33F(1)(c) applies.\n\n> transferring liability means a liability (other than a liability relating to the Moomba‑Sydney pipeline system) to which a determination under paragraph 33F(1)(b) applies.\n\n> transferring staff member means a staff member who, under this Part, becomes employed by the receiving subsidiary.\n\n> Wagga pipeline means the Authority’s pipeline originating at a point on the Moomba‑Sydney pipeline near Young in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Cootamundra;\n    (b) Junee;\n    (c) Wagga Wagga;\n    (d) Young.\n\n> wholly‑owned subsidiary, in relation to the Authority, means a body corporate:\n\n    (a) that has been formed by the Authority; and\n    (b) that is a subsidiary of the Authority; and\n    (c) none of whose members is a person other than:\n    (i) the Authority; or\n    (ii) a body corporate that is, under any other applications of this definition, a wholly‑owned subsidiary of the Authority; or\n    (iii) a nominee of the Authority or of a body of the kind referred to in subparagraph (ii); and\n    (d) no share in which is beneficially owned by a person other than:\n    (i) the Authority; or\n    (ii) a body of the kind referred to in subparagraph (c)(ii).","sortOrder":22},{"sectionNumber":"Division 2","sectionType":"division","heading":"Steps leading to re‑organisation","content":"An Act to establish a Pipeline Authority\n\n## Part I—Preliminary\n\n#### 1 Short title \\[see Note 1\\]\n\n  This Act may be cited as the Pipeline Authority Act 1973.\n\n#### 2 Commencement \\[see Note 1\\]\n\n  This Act shall come into operation on a date to be fixed by Proclamation.\n\n#### 3 Interpretation\n\n  (1) In this Act a reference to the Authority is a reference to the Pipeline Authority as it was established by this Act before the repeal day.\n  (2) In this section:\n\n> repeal day has the same meaning as in Part 8 of the Moomba‑Sydney Pipeline System Sale Act 1994.\n\n  \n\n## Part V—Finance\n\n#### 25A Borrowings otherwise than from Commonwealth\n\n  (1) The Authority may, with the approval of the Treasurer:\n    (a) borrow money otherwise than from the Commonwealth; or\n    (b) raise money otherwise than by borrowing;\n  on terms and conditions that are specified in, or consistent with, the approval.\n  (2) Without limiting the generality of subsection (1), the Authority may, under that subsection, borrow money, or raise money otherwise than by borrowing, by dealing with securities.\n  (3) A borrowing of money, or a raising of money otherwise than by borrowing, under subsection (1) may be made, in whole or in part, in a currency other than Australian currency.\n  (4) An approval may be given under subsection (1) in relation to a particular transaction or in relation to transactions included in a class of transactions.\n  (5) An approval under subsection (1) shall be given in writing.\n  (6) For the purposes of this section:\n    (a) the issue by the Authority of an instrument acknowledging a debt in consideration of:\n    (i) the payment or deposit of money; or\n    (ii) the provision of credit;\n    otherwise than in relation to a transaction that is in the ordinary course of the day‑to‑day operations of the Authority shall be deemed to be a raising by the Authority, otherwise than by borrowing, of an amount of money equal to the amount of the money paid or deposited or the value of the credit provided, as the case may be; and\n    (b) the obtaining of credit by the Authority otherwise than in relation to a transaction that is in the ordinary course of the day‑to‑day operations of the Authority shall be deemed to be a raising by the Authority, otherwise than by borrowing, of an amount of money equal to the value of the credit so obtained.\n\n#### 25B Guarantee of borrowings by Authority\n\n  (1) The Treasurer may, on behalf of the Commonwealth, enter into a contract:\n    (a) guaranteeing the repayment by the Authority of money borrowed under paragraph 25A(1)(a) and the payment by the Authority of interest (including any interest on that interest) on money so borrowed; or\n    (b) guaranteeing the payment by the Authority of such amounts (which may be interest) that the Authority is liable to pay with respect to money raised under paragraph 25A(1)(b) as are specified in the contract.\n  (2) The Treasurer may, in writing, determine:\n    (a) that the repayment by the Authority of money borrowed under paragraph 25A(1)(a), and the payment by the Authority of interest (including any interest on that interest) on money so borrowed, are guaranteed by the Commonwealth; or\n    (b) that the payment by the Authority of such money (which may be interest) that the Authority is liable to pay with respect to money raised under paragraph 25A(1)(b) as is specified in the determination is guaranteed by the Commonwealth;\n  and, where the Treasurer makes such a determination, the repayment of that money and the payment of that interest are, or the payment of that money is, by force of this subsection, guaranteed by the Commonwealth.\n  (3) A contract may be entered into under subsection (1), and a determination may be made under subsection (2), in relation to a particular transaction or in relation to transactions included in a class of transactions.\n  (4) A contract entered into under subsection (1) may include either or both of the following provisions:\n    (a) a provision agreeing, on behalf of the Commonwealth, that proceedings under the contract may be taken in the courts, or a specified court, of a country other than Australia;\n    (b) a provision waiving, on behalf of the Commonwealth, the immunity of the Commonwealth from suit in the courts, or a specified court, of a country other than Australia in relation to any proceedings that may be taken under the contract.\n\n#### 25C Authority may give security\n\n  The Authority may give security over the whole or any part of its land or other assets for:\n    (a) the repayment by the Authority of money borrowed by the Authority under section 25 or paragraph 25A(1)(a) and the payment by the Authority of interest (including any interest on that interest) on money so borrowed;\n    (b) the payment by the Authority of amounts (including any interest) that the Authority is liable to pay with respect to money raised by the Authority under paragraph 25A(1)(b); or\n    (c) the payment to the Commonwealth of amounts equal to any amounts that the Commonwealth may become liable to pay under a contract entered into under subsection 25B(1) or a determination made under subsection 25B(2).\n\n#### 25D Borrowings not otherwise permitted\n\n  The Authority shall not borrow money, or raise money otherwise than by borrowing, except in accordance with sections 25 and 25A.\n\n#### 25E Delegation by Treasurer\n\n  (1) The Treasurer may, either generally or as otherwise provided by the instrument of delegation, by writing signed by the Treasurer, delegate to a person holding or performing the duties of an office in the Department of the Treasury all or any of the powers of the Treasurer under sections 25A and 25B.\n  (2) A power so delegated, when exercised by the delegate, shall, for the purposes of this Part, be deemed to have been exercised by the Treasurer.\n  (3) A delegate is, in the exercise of a power so delegated, subject to the directions of the Treasurer.\n  (4) A delegation under subsection (1) does not prevent the exercise of a power by the Treasurer.\n\n#### 26 Bank accounts\n\n  (1) The Authority may open and maintain an account or accounts with an approved bank or approved banks and shall maintain at all times at least one such account.\n  (2) The Authority shall pay all moneys of the Authority, including moneys borrowed by the Authority, into an account referred to in this section.\n\n#### 27 Application of moneys\n\n  (1) The moneys of the Authority may be applied by the Authority:\n    (a) in payment or discharge of the costs, expenses and other obligations of the Authority under this Act; and\n    (b) in payment of remuneration and allowances payable to any person under this Act;\n  but not otherwise.\n  (2) Moneys of the Authority not immediately required for the purposes of the Authority may be invested:\n    (a) on deposit with an approved bank;\n    (b) in securities of the Commonwealth; or\n    (c) in any other manner approved by the Treasurer.\n\n#### 28 Financial policy\n\n  (1) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is commenced by the Authority; and\n    (b) the Authority continues to operate and maintain any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) the construction of the pipeline; and\n    (d) the operation and maintenance of the transferred pipelines; and\n    (e) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (f) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (2) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is not commenced by the Authority; and\n    (b) the Authority continues to operate and maintain any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) the operation and maintenance of the transferred pipelines; and\n    (d) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (e) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (3) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is not commenced by the Authority; and\n    (b) the Authority does not continue to operate any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (d) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (4) In this section:\n\n> Sale Act means the Moomba‑Sydney Pipeline System Sale Act 1994.\n\n> sale day has the same meaning as in the Sale Act.\n\n> transferred pipeline means a pipeline that ceases to be an asset of the Authority because of the Sale Act.\n\n#### 28A Estimates\n\n  The Authority shall prepare estimates, in such form as the Minister directs, of its receipts and expenditure for each financial year and, if so directed by the Minister, for any other period, and shall submit those estimates to the Minister not later than such date as the Minister directs.\n\n#### 30 Profits of the Authority\n\n  (1) For the purposes of this Act, the profits of the Authority for a financial year are the amount, if any, remaining after deducting from the revenue received or receivable in respect of that financial year the expenditure, and provision for expenditure, properly chargeable against that revenue.\n  (2) Subject to section 30A, the profits of the Authority for a financial year shall be applied in such manner as the Minister, with the concurrence of the Minister for Finance determines.\n  (3) In making a determination under subsection (2), regard shall be had to any advice which the Authority has furnished to the Minister in relation to the financial affairs of the Authority.\n\n#### 30A Authority to pay dividends from subsidiaries to Commonwealth\n\n  The Authority must pay to the Commonwealth amounts of dividends received by the Authority from subsidiary companies other than such amounts as are specified by the Minister in a written notice given to the Authority.\n\n#### 31 Proper accounts to be kept\n\n  The Authority shall cause to be kept proper accounts and records of the transactions and affairs of the Authority in accordance with the accounting principles generally applied in commercial practice and shall do all things necessary to ensure that all payments out of its moneys are correctly made and properly authorized and that adequate control is maintained over the assets of, or in the custody of, the Authority and over the incurring of liabilities by the Authority.\n\n#### 32 Audit\n\n  (1) The Auditor‑General shall inspect and audit the accounts and records of financial transactions of the Authority and records relating to assets of, or in the custody of, the Authority and shall forthwith draw the attention of the Minister to any irregularity disclosed by the inspection and audit that is, in the opinion of the Auditor‑General, of sufficient importance to justify his or her doing so.\n  (2) The Auditor‑General may, in his or her discretion, dispense with all or any part of the detailed inspection and audit of any accounts or records referred to in subsection (1).\n  (3) The Auditor‑General shall, at least once in each year, report to the Minister the results of the inspection and audit carried out under subsection (1).\n  (4) The Auditor‑General or an officer authorized by the Auditor‑General is entitled at all reasonable times to full and free access to all accounts, records, documents and papers of the Authority relating directly or indirectly to the receipt or payment of moneys by the Authority or to the acquisition, receipt, custody or disposal of assets by the Authority.\n  (5) The Auditor‑General or an officer authorized by the Auditor‑General may make copies of, or take extracts from, any such accounts, records, documents or papers.\n  (6) The Auditor‑General or an officer authorized by the Auditor‑General may require any person to furnish him or her with such information in the possession of the person or to which the person has access as the Auditor‑General or authorized officer considers necessary for the purposes of the functions of the Auditor‑General under this Act, and the person shall comply with the requirement.\n  (7) A person who contravenes subsection (6) is guilty of an offence punishable, upon conviction, by a fine not exceeding $200.\n\n#### 33 Liability to taxation\n\n  (1) Subject to subsection (2A), the Authority is subject to taxation (other than income tax) under the laws of the Commonwealth.\n  (2) Subject to subsection (3), the Authority is not subject to taxation under a law of a State or of a Territory.\n  (2A) Where the Treasurer so determines by notice published in the Gazette, stamp duty, or any similar tax, is not payable by the Authority or any other person under a law of the Commonwealth or of a State or Territory in respect of:\n    (a) a security dealt with by the Authority;\n    (b) the issue, redemption, transfer, sale, purchase, re‑sale, acquisition or discounting of such a security by the Authority or any other person, not including a transaction done without consideration or for an inadequate consideration;\n    (c) any other transaction done for the purposes of a borrowing or other raising of moneys by the Authority; or\n    (d) any other document executed by or on behalf of the Authority for the purposes of a borrowing or other raising of moneys by the Authority.\n  (2B) The power conferred on the Treasurer by subsection (2A) to make a determination extends to the making of a determination in respect of securities included in a specified class or specified classes of securities and in respect of documents or transactions included in a specified class or specified classes of documents or transactions.\n  (3) Subject to subsection (2A), the regulations may provide that subsection (2) does not apply in relation to taxation under a specified law of a State or Territory.\n\n#### 33A Liability of subsidiary to taxation\n\n  (1) Subject to Division 5 of Part VA, a subsidiary company is subject to taxation under the laws of the Commonwealth and a State or Territory.\n  (2) A subsidiary company is not a public authority for the purposes of paragraph 23(d) of the Income Tax Assessment Act 1936.\n\n  \n\n## Part VA—Re‑organisation of the Business of the Authority\n\n### Division 1—Interpretation\n\n#### 33C Interpretation\n\n  In this Part, unless the contrary intention appears:\n\n> Assessment Act means the Income Tax Assessment Act 1936.\n\n> asset means property of any kind, and includes:\n\n    (a) any legal or equitable estate or interest (whether present or future, vested or contingent, tangible or intangible) in real or personal property of any description; and\n    (b) any chose in action; and\n    (c) any right, interest or claim of any kind in or in relation to property (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing).\n\n> authorised person means the Minister or a person authorised, in writing, by the Minister for the purposes of this Part.\n\n> delivery point means any point on a pipeline where petroleum is delivered by the Authority to a person.\n\n> instrument means an instrument of any kind, and includes:\n\n    (a) any contract, deed, undertaking or agreement; and\n    (b) any mandate, instruction, notice, authority or order; and\n    (c) any lease, licence, transfer, conveyance or other assurance; and\n    (d) any guarantee, bond, power of attorney, bill of lading, negotiable instrument or order for the payment of money; and\n    (e) any mortgage, charge, lien or security;\n  whether express or implied and whether made or given orally or in writing.\n\n> instrument to which this Part applies means an instrument:\n\n    (a) to which the Authority is a party; or\n    (b) that was given to, by or in favour of the Authority; or\n    (c) in which a reference is made to the Authority; or\n    (d) under which any money is or may become payable, or any other property is to be, or may become liable to be, transferred, conveyed or assigned, to or by the Authority.\n\n> interest in relation to land, means:\n\n    (a) a legal or equitable estate or interest in land; or\n    (b) a right, power or privilege over, or in relation to, the land.\n\n> liability means a liability of any kind, and includes an obligation of any kind (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing).\n\n> Lithgow pipeline means the Authority’s pipeline originating at a point on the Moomba Sydney pipeline near Young in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Orange;\n    (b) Bathurst;\n    (c) Blayney;\n    (d) Lithgow.\n\n> Moomba means Moomba in South Australia.\n\n> Moomba‑Sydney pipeline means the Authority’s pipeline from Moomba to the delivery point at Wilton in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Bowral;\n    (b) Goulburn;\n    (c) Marulan;\n    (d) Moss Vale.\n\n> Moomba‑Sydney pipeline system means the pipeline system consisting of the following pipelines:\n\n    (a) the Moomba‑Sydney pipeline;\n    (b) the Lithgow pipeline;\n    (c) the Wagga pipeline.\n\n> nominated staff member means a person to whom a determination under section 33R applies.\n\n> non‑transferring asset means:\n\n    (a) the Moomba‑Sydney pipeline system; and\n    (b) any interests in relation to the land on or under which the pipelines for the Moomba‑Sydney pipeline system are constructed; and\n    (c) any other asset that does not become, under this Part, an asset of the receiving subsidiary.\n\n> non‑transferring instrument means an instrument to which this Part applies that does not become, under this Part, an instrument of the receiving subsidiary.\n\n> non‑transferring liability means a liability that does not become, under this Part, a liability of the receiving subsidiary.\n\n> proceeding to which this Part applies means a proceeding to which the Authority is a party, other than a proceeding that does not relate to the transferred business.\n\n> re‑organisation day means the day fixed under section 33D.\n\n> share means a share in the share capital of a company, and includes stock.\n\n> staff member means a person who is an officer or employee of the Authority.\n\n> tax exempt matter means:\n\n    (a) the nomination of the receiving subsidiary under section 33E; and\n    (b) the making of a determination under section 33F; and\n    (c) business of the Authority ceasing, under this Part, to be business of the Authority and becoming business of the receiving subsidiary; and\n    (d) the issue of shares under section 33M; and\n    (e) the operation of this Part in any other respect; and\n    (f) giving effect to a matter referred to in another paragraph of this definition or otherwise giving effect to this Part.\n\n> transfer day, in relation to a nominated staff member, means the day applicable to the staff member in the determination under section 33R that is applicable to the staff member.\n\n> transferring asset means an asset other than:\n\n    (a) the Moomba‑Sydney pipeline system; and\n    (b) any interests in relation to the land on or under which the pipelines for the Moomba‑Sydney pipeline system are constructed;\n  to which a determination under paragraph 33F(1)(a) applies.\n\n> transferring business means the business that becomes, under this Part, business of the receiving subsidiary; and\n\n> transferring instrument means an instrument (other than an instrument relating to the Moomba‑Sydney pipeline system) to which a determination under paragraph 33F(1)(c) applies.\n\n> transferring liability means a liability (other than a liability relating to the Moomba‑Sydney pipeline system) to which a determination under paragraph 33F(1)(b) applies.\n\n> transferring staff member means a staff member who, under this Part, becomes employed by the receiving subsidiary.\n\n> Wagga pipeline means the Authority’s pipeline originating at a point on the Moomba‑Sydney pipeline near Young in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Cootamundra;\n    (b) Junee;\n    (c) Wagga Wagga;\n    (d) Young.\n\n> wholly‑owned subsidiary, in relation to the Authority, means a body corporate:\n\n    (a) that has been formed by the Authority; and\n    (b) that is a subsidiary of the Authority; and\n    (c) none of whose members is a person other than:\n    (i) the Authority; or\n    (ii) a body corporate that is, under any other applications of this definition, a wholly‑owned subsidiary of the Authority; or\n    (iii) a nominee of the Authority or of a body of the kind referred to in subparagraph (ii); and\n    (d) no share in which is beneficially owned by a person other than:\n    (i) the Authority; or\n    (ii) a body of the kind referred to in subparagraph (c)(ii).\n\n  \n\n### Division 2—Steps leading to re‑organisation\n\n#### 33D Fixing the day on which re‑organisation is to take place—the re‑organisation day\n\n  The Minister may, by notice in the Gazette , fix a day as the day on which the re‑organisation under this Part is to take place.\n\n#### 33E Nomination of subsidiary to which business is to be transferred—the receiving subsidiary\n\n  (1) Subject to subsection (2), the Minister must, before the re‑organisation day, by notice in the Gazette, nominate a subsidiary of the Authority as the receiving subsidiary for the purposes of this Part.\n  (2) The Minister must not nominate a subsidiary under subsection (1) unless the subsidiary is:\n    (a) a company incorporated under the Corporations Act 2001; and\n    (b) a wholly‑owned subsidiary; and\n    (c) a trading corporation within the meaning of paragraph 51(xx) of the Constitution.\n  (3) If a subsidiary nominated under subsection (1) ceases, on or before the re‑organisation day, to be a subsidiary of the Authority of the kind described in subsection (2), the Minister must revoke the nomination.\n  (4) For all purposes, and in all proceedings, relating to this Act, proof of the fact that a body corporate was nominated under subsection (1) is to be taken:\n    (a) to have been, on the day of the nomination, a subsidiary of the Authority of the kind described in subsection (2); and\n    (b) at all times thereafter until the re‑organisation day, to have continued to be such a subsidiary.\n\n#### 33F Determination of assets, instruments and liabilities to be transferred etc.—the transferring assets, instruments and liabilities\n\n  (1) The Minister may, by notice in the Gazette:\n    (a) declare a specified asset of the Authority to be a transferring asset; or\n    (b) declare a specified liability of the Authority to be a transferring liability; or\n    (c) declare a specified instrument to which this Part applies to be a transferring instrument.\n  (2) A declaration under subsection (1) may only be made before the re‑organisation day.\n\n  \n\n### Division 3—The re‑organisation\n\n#### 33G Transferred business of Authority becomes business of receiving subsidiary\n\n  On the re‑organisation day, the transferred business of the Authority ceases, by force of this section, to be business of the Authority and becomes business of the receiving subsidiary.\n\n#### 33H Transferring assets and transferring liabilities of Authority become assets and liabilities of receiving subsidiary\n\n  Without limiting section 33G, on the re‑organisation day, all transferring assets and transferring liabilities of the Authority cease to be assets and liabilities of the Authority and become assets and liabilities of the receiving subsidiary.\n\n#### 33J Instruments\n\n  (1) Without limiting section 33G, an instrument to which this Part applies continues, subject to subsection (2), in full force and effect on and after the re‑organisation day.\n  (2) A transferring instrument has effect, in relation to acts, transactions and matters done, entered into or occurring on or after the re‑ organisation day, as if a reference in the instrument to the Authority were a reference to the receiving subsidiary.\n\n#### 33K Pending proceedings\n\n  Without limiting section 33G, if a proceeding to which this Part applies is, immediately before the re‑organisation day, pending in a court, the receiving subsidiary is, on that day, substituted for the Authority as a party.\n\n#### 33L Valuation of transferring business\n\n  (1) The Minister must, by written notice given to the Authority and the receiving subsidiary not later than 7 days after the re‑organisation day, determine:\n    (a) the market value of each transferring asset on the re‑organisation day; and\n    (b) the amount of each transferring liability on that day.\n  (2) The net value of the transferring assets on the re‑organisation day is the amount worked out by subtracting the total amount of the transferring liabilities from the total market value of the transferring assets on that day.\n  (3) For all purposes and in all proceedings, the net value of the transferring business is taken to be the amount determined under subsection (2) as the net value of the transferring assets on that day.\n\n#### 33M Issue of shares in receiving subsidiary to Authority in relation to transferring business\n\n  (1) On the day on which the receiving subsidiary is given the notice under subsection 33L(1), the receiving subsidiary must, subject to subsection (2), issue shares in the receiving subsidiary to the Authority.\n  (2) The shares issued to the Authority are taken to have been fully paid up and to have been issued for valuable consideration.\n\n#### 33N Authorised person may certify matters in relation to re‑organisation\n\n  (1) An authorised person may, by signed writing, certify any matter in relation to the operation of this Division and, in particular, may certify:\n    (a) whether specified assets are or are not transferring assets or non‑transferring assets; and\n    (b) whether specified liabilities are or are not transferring liabilities or non‑transferring liabilities; and\n    (c) whether specified instruments are or are not non‑transferring instruments or other instruments to which this Part applies.\n  (2) A document purporting to be a certificate under subsection (1) is, unless the contrary intention is established, taken to be such a certificate and to have been properly given.\n\n#### 33P Extraterritorial operation of Division\n\n  It is the intention of the Parliament that this Division should apply, to the greatest extent possible, in relation to:\n    (a) things situated outside Australia; and\n    (b) acts, transactions and matters done, entered into or occurring outside Australia; and\n    (c) things, acts, transactions and matters (wherever situated, done, entered into or occurring) that would, apart from this Act, be governed or otherwise affected by the law of a foreign country.\n\n#### 33Q Authority to take steps necessary to carry out re‑organisation\n\n  The Authority must take such steps as are necessary to ensure that this Division is fully effective, particularly in relation to its operation outside Australia.\n\n  \n\n### Division 4—Transfer of staff\n\n#### 33R Determination of staff to be transferred to receiving subsidiary\n\n  The Chief Executive Officer may, in writing, determine that the employment of specified staff members is to be transferred to the receiving subsidiary on and from the day, or the respective days, specified in the determination.\n\n#### 33S Employment of nominated staff member to continue with receiving subsidiary\n\n  Subject to sections 33T and 33U, each nominated staff member who is a staff member immediately before his or her transfer day is, on and from the transfer day, taken to be employed by the receiving subsidiary on the terms and conditions on which he or she was employed by the Authority immediately before the transfer day.\n\n#### 33T Act not to affect certain matters relating to transferring staff members\n\n  (1) This section has effect for the purposes of the application, at any time on or after the transfer day of a transferring staff member, of a law, award, determination or agreement in relation to the employment of the transferring staff member.\n  (2) Neither the transferring staff member’s contract of employment, nor his or her period of employment, is taken to have been broken by the operation of this Part.\n  (3) Without limiting section 33S or subsection (2) of this section, this Part does not affect any accrued rights that the transferring staff member had immediately before the transfer day in relation to any kind of leave.\n  (4) Where, if a transferred staff member had, immediately before the transfer day, ceased to be employed by the Authority:\n    (a) it would have been necessary to take into account a period during which the transferring staff member was employed by the Authority or any other person to determine:\n    (i) an amount payable to the transferring staff member; or\n    (ii) a benefit to which the transferring staff member would have been entitled;\n    because of his or her so ceasing; and\n    (b) apart from this subsection, some or all of that period would not have to be taken into account as a period during which the staff member was employed by the receiving subsidiary;\n  the receiving subsidiary must treat the whole of the first‑mentioned period as a period during which the transferring staff member was employed by it.\n\n#### 33U Variation of terms and conditions of employment\n\n  (1) It is a term of each transferring staff member’s employment after his or her transfer day that the terms and conditions of that employment may be varied to the extent to which, and the manner in which, the terms and conditions of his or her employment could be varied under this Act immediately before the transfer day.\n  (2) This Part does not prevent the terms and conditions of a transferring staff member’s employment after his or her transfer day from being varied:\n    (a) in accordance with those terms and conditions; or\n    (b) by or under a law, award, determination or agreement.\n  (3) In this section:\n\n> terms and conditions includes a term or condition existing because of subsection (1).\n\n> vary, in relation to terms and conditions, includes vary by way of:\n\n    (a) omitting any of those terms and conditions; or\n    (b) adding to those terms and conditions; or\n    (c) substituting new terms or conditions for any of those terms and conditions.\n\n  \n\n### Division 5—Taxation matters\n\n#### 33V Exemptions relating to tax exempt matters\n\n  (1) Tax under a law of the Commonwealth or a State or Territory is not payable in relation to:\n    (a) a tax exempt matter; or\n    (b) anything done (including, for example, a transaction entered into or an instrument made, executed, lodged or given) because of, or for a purpose connected with or arising out of, a tax exempt matter.\n  (2) In subsection (1):\n\n> tax includes:\n\n    (a) sales tax; and\n    (b) stamp duty; and\n    (c) any other tax, fee, duty, levy or charge;\n  but does not include income tax imposed as such by a law of the Commonwealth or fees payable under the Corporations Act 2001.\n\n#### 33W Value of trading stock for income tax purposes\n\n  (1) For the purpose of ascertaining under Subdivision B of Division 2 of Part III of the Assessment Act the value of the receiving subsidiary’s trading stock on hand at the beginning of the year of income in which the re‑organisation day occurs:\n    (a) the receiving subsidiary is taken to have opted for market selling price; and\n    (b) the market selling price of petroleum transferred to the receiving subsidiary is taken to be the Authority’s market selling price of the petroleum assuming the petroleum were not transferred.\n  (2) Unless the contrary intention appears, expressions used in this section, and in Subdivision B of Division 2 of Part III of the Assessment Act, have the same respective meanings as in that Subdivision.\n\n#### 33X Capital gains tax—assets acquired on or after 20 September 1985\n\n  (1) This section applies in relation to an asset that:\n    (a) was acquired by the Authority on or after 20 September 1985; and\n    (b) is acquired by the receiving subsidiary on the re‑organisation day.\n  (2) For the purposes of calculating whether, under Part IIIA of the Assessment Act, a capital gain accrues to, or a capital loss is incurred by, the receiving subsidiary on the disposal of the asset by the subsidiary, the subsidiary is taken to have paid as consideration for the acquisition of the asset an amount calculated in accordance with this section.\n  (3) If it is necessary to determine whether a capital gain has accrued, the consideration paid by the subsidiary for the acquisition of the asset is to be taken to have been:\n    (a) if the market value of the asset on the re‑organisation day is greater than the amount that would have been the indexed cost base (indexed cost base) to the Authority for the purposes of Part IIIA of the Assessment Act if that Part had applied in respect of that disposal by the Authority to the receiving subsidiary—an amount equal to the market value of the asset; or\n    (b) in any other case—an amount equal to the amount that would have been the indexed cost base.\n  (4) Where it is necessary to determine whether a capital loss has been incurred, the consideration paid by the subsidiary for the acquisition of the asset is to be taken to have been:\n    (a) if the market value of the asset on the re‑organisation day is less than the amount that would have been the reduced cost base (reduced cost base) to the Authority for the purposes of Part IIIA of the Assessment Act if that Part had applied in respect of that disposal by the Authority to the receiving subsidiary—an amount equal to the market value of the asset; or\n    (b) in any other case—an amount equal to the amount that would have been the reduced cost base.\n  (5) If the transferred asset is disposed of by the receiving subsidiary within 12 months of its acquisition by the Authority, subsection (3) has effect as if the references in that subsection to the indexed cost base to the Authority in relation to the asset were references to the cost base to the Authority in relation to the asset.\n  (6) Unless the contrary intention appears, expressions used in this section and in Part IIIA of the Assessment Act have the same respective meanings as in that Part.\n\n#### 33Y Capital gains tax—assets acquired before 20 September 1985\n\n  (1) A transferred asset of the receiving subsidiary that was acquired by the Authority before 20 September 1985 is taken, for the purposes of Part IIIA of the Assessment Act, to have been acquired by the receiving subsidiary before that date.\n  (2) Unless the contrary intention appears, expressions used in this section and in Part IIIA of the Assessment Act have the same respective meanings as in that Part.\n\n#### 33Z Superannuation payments\n\n  For the purposes of section 82AAC of the Assessment Act, a payment made by the receiving subsidiary of the Authority to the Commonwealth under:\n    (a) the Superannuation Act 1976; or\n    (b) the Superannuation Act 1990;\n  is taken to be a contribution to a fund for the purpose mentioned in paragraph 82AAC(1)(a) of the Assessment Act, being a fund that is an eligible superannuation fund, within the meaning of Part IX of the Assessment Act, in relation to the year of income of the fund in which the payment is made.\n\n  \n\n### Division 6—Miscellaneous\n\n#### 33ZA Certificates in relation to land and interests in land\n\n  If:\n    (a) land or an interest in land becomes, under this Part, land or an interest in land of the receiving subsidiary; and\n    (b) a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the land or interest, whether by reference to a map or otherwise; and\n    (iii) states that the land or interest has, under this Part, become land or an interest in land of the receiving subsidiary;\n    is lodged with the Registrar‑General, Registrar of Titles or other proper officer of the State or Territory in which the land is situated;\n  the officer with whom the certificate is lodged may:\n    (c) deal with, and give effect to, the certificate as if it were a grant, conveyance, memorandum or instrument of transfer of the land (including all rights, title and interest in the land) or the interest in the land, as the case may be, to the receiving subsidiary that had been properly executed under the laws in force in the State or Territory; and\n    (d) make such entries in the register as are necessary having regard to the effect of section 33H.\n\n#### 33ZB Certificates in relation to other assets\n\n  If:\n    (a) an asset (other than an asset in relation to which section 33V, 33W, 33X or 33Y applies) becomes, under this Part, an asset of the receiving subsidiary; and\n    (b) a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the asset; and\n    (iii) states that the asset has, under this Part, become an asset of the receiving subsidiary;\n    is given to the person or authority who has, under the law of the Commonwealth or of a State or Territory, responsibility for keeping a register in relation to assets of that kind;\n  the person or authority may:\n    (c) deal with, and give effect to, the certificate as if the certificate were a proper and appropriate instrument for transactions in relation to assets of that kind; and\n    (d) make such entries in the register as are necessary having regard to the effect of section 33H.\n\n#### 33ZC Part to have effect in spite of laws and agreements prohibiting transfer etc.\n\n  (1) This Part has effect, and must be given effect to, in spite of anything in:\n    (a) any other law of the Commonwealth or any law of a State or Territory; or\n    (b) any contract, deed, undertaking, agreement or other instrument.\n  (2) No provision of this Part, and nothing done by a person because of, or for a purpose connected with or arising out of, this Part:\n    (a) is to be regarded as:\n    (i) placing the Authority, a subsidiary of the Authority or another person in breach of contract or confidence; or\n    (ii) otherwise making the Authority, a subsidiary of the Authority or another person guilty of a civil wrong; or\n    (b) is to be regarded as placing the Authority, a subsidiary of the Authority or another person in breach of:\n    (i) any law of the Commonwealth or of a State or Territory; or\n    (ii) any contractual provision prohibiting, restricting or regulating the assignment or transfer of any asset or liability or the disclosure of any information; or\n    (c) is to be taken to release any surety from any of the surety’s obligations.\n  (3) Without limiting subsection (1), if, apart from this section, the consent of a person would be necessary in order to give effect to this Part in a particular respect, the consent is taken to have been given.\n\n#### 33ZD Compensation for acquisition of property\n\n  (1) If, apart from this section, the operation of this Part would result in the acquisition of property from a person otherwise than on just terms, there is payable to the person by the Authority such reasonable amount of compensation as is agreed on between the person and the Authority or, failing agreement, as is determined by a court of competent jurisdiction.\n  (2) Any damages or compensation recovered, or other remedy given, in a proceeding instituted otherwise than under this section must be taken into account in assessing compensation payable in a proceeding instituted under this section and arising out of the same event or transaction.\n  (3) In this section, acquisition of property and just terms have the same respective meanings as in paragraph 51(xxxi) of the Constitution.\n\n  \n\n## Part VB—Transfer to Gorodok of easements of the Authority relating to the Moomba‑Botany Pipeline\n\n#### 33ZE Definitions\n\n  In this Part, unless the contrary intention appears:\n\n> authorised person means:\n\n    (a) the Minister; or\n    (b) a person authorised by the Minister, in writing, for the purposes of this Part.\n\n> easement includes a right in relation to land.\n\n> Gorodok means Gorodok Proprietary Limited (A.C.N. 057 156 751).\n\n> instrument includes a document.\n\n> Moomba‑Botany pipeline means the pipeline that, when constructed, will carry gas from Moomba in South Australia to Botany in New South Wales.\n\n> transfer day, in relation to a transferring interest, means the day specified in a notice under section 33ZF.\n\n> transferring interest means an easement specified in a notice under section 33ZF.\n\n#### 33ZF Specifying the easements etc. to be transferred to Gorodok and the transfer day\n\n  (1) An authorised person may, by notice in the Gazette, specify:\n    (a) an easement that relates to the Moomba‑Botany pipeline; and\n    (b) the transfer day for that easement.\n  (2) The authorised person may make and publish one or more notices under subsection (1).\n\n#### 33ZG Transfer to Gorodok of transferring interests of the Authority\n\n  By force of this section, each transferring interest of the Authority:\n    (a) ceases to be an asset of the Authority; and\n    (b) becomes an asset of Gorodok;\n  on the transfer day for the interest.\n\n#### 33ZH Instruments relating to the transferring interests of the Authority\n\n  (1) An authorised person may, by notice in the Gazette, on or before the transfer day for a particular transferring interest, specify an instrument that relates to the interest for the purposes of this section.\n  (2) An instrument specified in a notice under subsection (1) continues to have effect, on and after the transfer day for the transferring interest that relates to the instrument, as if a reference in the instrument to the Authority were a reference to Gorodok.\n\n#### 33ZJ Certificates in relation to interests in land\n\n  (1) This section applies if:\n    (a) an interest in land becomes an interest in land of Gorodok under this Part; and\n    (b) there is lodged with a land registration official a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the interest, whether by reference to a map or otherwise; and\n    (iii) states that the interest has become an interest in land of Gorodok under this Part.\n  (2) The land registration official may:\n    (a) register the matter in the same way in which dealings in in land of that kind are registered; and\n    (b) deal with, and give effect to, the certificate.\n  (3) A document that appears to be a certificate under subsection (1) is taken to be such a certificate and to have been properly given unless the contrary is established.\n  (4) In this section:\n\n> land registration official means the Registrar of Titles or other proper officer of the State in which the land concerned is situated.\n\n#### 33ZK Commonwealth and Authority to take steps necessary to carry out transfers\n\n  The Commonwealth and the Authority must take the steps that are necessary to ensure that this Part is fully effective.\n\n#### 33ZL Part to have effect in spite of laws prohibiting transfers\n\n  (1) This Part has effect, and must be given effect to, in spite of anything in:\n    (a) any law of the Commonwealth or any law of a State or Territory; or\n    (b) any instrument.\n  (2) Without limiting subsection (1), if the consent of a person is necessary in order to give effect to this Part in a particular respect, the consent is taken to have been given.","sortOrder":23},{"sectionNumber":"33D","sectionType":"section","heading":"Fixing the day on which re‑organisation is to take place—the re‑organisation day","content":"#### 33D Fixing the day on which re‑organisation is to take place—the re‑organisation day\n\n  The Minister may, by notice in the Gazette , fix a day as the day on which the re‑organisation under this Part is to take place.","sortOrder":24},{"sectionNumber":"33E","sectionType":"section","heading":"Nomination of subsidiary to which business is to be transferred—the receiving subsidiary","content":"#### 33E Nomination of subsidiary to which business is to be transferred—the receiving subsidiary\n\n  (1) Subject to subsection (2), the Minister must, before the re‑organisation day, by notice in the Gazette, nominate a subsidiary of the Authority as the receiving subsidiary for the purposes of this Part.\n  (2) The Minister must not nominate a subsidiary under subsection (1) unless the subsidiary is:\n    (a) a company incorporated under the Corporations Act 2001; and\n    (b) a wholly‑owned subsidiary; and\n    (c) a trading corporation within the meaning of paragraph 51(xx) of the Constitution.\n  (3) If a subsidiary nominated under subsection (1) ceases, on or before the re‑organisation day, to be a subsidiary of the Authority of the kind described in subsection (2), the Minister must revoke the nomination.\n  (4) For all purposes, and in all proceedings, relating to this Act, proof of the fact that a body corporate was nominated under subsection (1) is to be taken:\n    (a) to have been, on the day of the nomination, a subsidiary of the Authority of the kind described in subsection (2); and\n    (b) at all times thereafter until the re‑organisation day, to have continued to be such a subsidiary.","sortOrder":25},{"sectionNumber":"33F","sectionType":"section","heading":"Determination of assets, instruments and liabilities to be transferred etc.—the transferring assets, instruments and liabilities","content":"#### 33F Determination of assets, instruments and liabilities to be transferred etc.—the transferring assets, instruments and liabilities\n\n  (1) The Minister may, by notice in the Gazette:\n    (a) declare a specified asset of the Authority to be a transferring asset; or\n    (b) declare a specified liability of the Authority to be a transferring liability; or\n    (c) declare a specified instrument to which this Part applies to be a transferring instrument.\n  (2) A declaration under subsection (1) may only be made before the re‑organisation day.","sortOrder":26},{"sectionNumber":"Division 3","sectionType":"division","heading":"The re‑organisation","content":"An Act to establish a Pipeline Authority\n\n## Part I—Preliminary\n\n#### 1 Short title \\[see Note 1\\]\n\n  This Act may be cited as the Pipeline Authority Act 1973.\n\n#### 2 Commencement \\[see Note 1\\]\n\n  This Act shall come into operation on a date to be fixed by Proclamation.\n\n#### 3 Interpretation\n\n  (1) In this Act a reference to the Authority is a reference to the Pipeline Authority as it was established by this Act before the repeal day.\n  (2) In this section:\n\n> repeal day has the same meaning as in Part 8 of the Moomba‑Sydney Pipeline System Sale Act 1994.\n\n  \n\n## Part V—Finance\n\n#### 25A Borrowings otherwise than from Commonwealth\n\n  (1) The Authority may, with the approval of the Treasurer:\n    (a) borrow money otherwise than from the Commonwealth; or\n    (b) raise money otherwise than by borrowing;\n  on terms and conditions that are specified in, or consistent with, the approval.\n  (2) Without limiting the generality of subsection (1), the Authority may, under that subsection, borrow money, or raise money otherwise than by borrowing, by dealing with securities.\n  (3) A borrowing of money, or a raising of money otherwise than by borrowing, under subsection (1) may be made, in whole or in part, in a currency other than Australian currency.\n  (4) An approval may be given under subsection (1) in relation to a particular transaction or in relation to transactions included in a class of transactions.\n  (5) An approval under subsection (1) shall be given in writing.\n  (6) For the purposes of this section:\n    (a) the issue by the Authority of an instrument acknowledging a debt in consideration of:\n    (i) the payment or deposit of money; or\n    (ii) the provision of credit;\n    otherwise than in relation to a transaction that is in the ordinary course of the day‑to‑day operations of the Authority shall be deemed to be a raising by the Authority, otherwise than by borrowing, of an amount of money equal to the amount of the money paid or deposited or the value of the credit provided, as the case may be; and\n    (b) the obtaining of credit by the Authority otherwise than in relation to a transaction that is in the ordinary course of the day‑to‑day operations of the Authority shall be deemed to be a raising by the Authority, otherwise than by borrowing, of an amount of money equal to the value of the credit so obtained.\n\n#### 25B Guarantee of borrowings by Authority\n\n  (1) The Treasurer may, on behalf of the Commonwealth, enter into a contract:\n    (a) guaranteeing the repayment by the Authority of money borrowed under paragraph 25A(1)(a) and the payment by the Authority of interest (including any interest on that interest) on money so borrowed; or\n    (b) guaranteeing the payment by the Authority of such amounts (which may be interest) that the Authority is liable to pay with respect to money raised under paragraph 25A(1)(b) as are specified in the contract.\n  (2) The Treasurer may, in writing, determine:\n    (a) that the repayment by the Authority of money borrowed under paragraph 25A(1)(a), and the payment by the Authority of interest (including any interest on that interest) on money so borrowed, are guaranteed by the Commonwealth; or\n    (b) that the payment by the Authority of such money (which may be interest) that the Authority is liable to pay with respect to money raised under paragraph 25A(1)(b) as is specified in the determination is guaranteed by the Commonwealth;\n  and, where the Treasurer makes such a determination, the repayment of that money and the payment of that interest are, or the payment of that money is, by force of this subsection, guaranteed by the Commonwealth.\n  (3) A contract may be entered into under subsection (1), and a determination may be made under subsection (2), in relation to a particular transaction or in relation to transactions included in a class of transactions.\n  (4) A contract entered into under subsection (1) may include either or both of the following provisions:\n    (a) a provision agreeing, on behalf of the Commonwealth, that proceedings under the contract may be taken in the courts, or a specified court, of a country other than Australia;\n    (b) a provision waiving, on behalf of the Commonwealth, the immunity of the Commonwealth from suit in the courts, or a specified court, of a country other than Australia in relation to any proceedings that may be taken under the contract.\n\n#### 25C Authority may give security\n\n  The Authority may give security over the whole or any part of its land or other assets for:\n    (a) the repayment by the Authority of money borrowed by the Authority under section 25 or paragraph 25A(1)(a) and the payment by the Authority of interest (including any interest on that interest) on money so borrowed;\n    (b) the payment by the Authority of amounts (including any interest) that the Authority is liable to pay with respect to money raised by the Authority under paragraph 25A(1)(b); or\n    (c) the payment to the Commonwealth of amounts equal to any amounts that the Commonwealth may become liable to pay under a contract entered into under subsection 25B(1) or a determination made under subsection 25B(2).\n\n#### 25D Borrowings not otherwise permitted\n\n  The Authority shall not borrow money, or raise money otherwise than by borrowing, except in accordance with sections 25 and 25A.\n\n#### 25E Delegation by Treasurer\n\n  (1) The Treasurer may, either generally or as otherwise provided by the instrument of delegation, by writing signed by the Treasurer, delegate to a person holding or performing the duties of an office in the Department of the Treasury all or any of the powers of the Treasurer under sections 25A and 25B.\n  (2) A power so delegated, when exercised by the delegate, shall, for the purposes of this Part, be deemed to have been exercised by the Treasurer.\n  (3) A delegate is, in the exercise of a power so delegated, subject to the directions of the Treasurer.\n  (4) A delegation under subsection (1) does not prevent the exercise of a power by the Treasurer.\n\n#### 26 Bank accounts\n\n  (1) The Authority may open and maintain an account or accounts with an approved bank or approved banks and shall maintain at all times at least one such account.\n  (2) The Authority shall pay all moneys of the Authority, including moneys borrowed by the Authority, into an account referred to in this section.\n\n#### 27 Application of moneys\n\n  (1) The moneys of the Authority may be applied by the Authority:\n    (a) in payment or discharge of the costs, expenses and other obligations of the Authority under this Act; and\n    (b) in payment of remuneration and allowances payable to any person under this Act;\n  but not otherwise.\n  (2) Moneys of the Authority not immediately required for the purposes of the Authority may be invested:\n    (a) on deposit with an approved bank;\n    (b) in securities of the Commonwealth; or\n    (c) in any other manner approved by the Treasurer.\n\n#### 28 Financial policy\n\n  (1) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is commenced by the Authority; and\n    (b) the Authority continues to operate and maintain any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) the construction of the pipeline; and\n    (d) the operation and maintenance of the transferred pipelines; and\n    (e) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (f) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (2) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is not commenced by the Authority; and\n    (b) the Authority continues to operate and maintain any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) the operation and maintenance of the transferred pipelines; and\n    (d) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (e) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (3) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is not commenced by the Authority; and\n    (b) the Authority does not continue to operate any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (d) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (4) In this section:\n\n> Sale Act means the Moomba‑Sydney Pipeline System Sale Act 1994.\n\n> sale day has the same meaning as in the Sale Act.\n\n> transferred pipeline means a pipeline that ceases to be an asset of the Authority because of the Sale Act.\n\n#### 28A Estimates\n\n  The Authority shall prepare estimates, in such form as the Minister directs, of its receipts and expenditure for each financial year and, if so directed by the Minister, for any other period, and shall submit those estimates to the Minister not later than such date as the Minister directs.\n\n#### 30 Profits of the Authority\n\n  (1) For the purposes of this Act, the profits of the Authority for a financial year are the amount, if any, remaining after deducting from the revenue received or receivable in respect of that financial year the expenditure, and provision for expenditure, properly chargeable against that revenue.\n  (2) Subject to section 30A, the profits of the Authority for a financial year shall be applied in such manner as the Minister, with the concurrence of the Minister for Finance determines.\n  (3) In making a determination under subsection (2), regard shall be had to any advice which the Authority has furnished to the Minister in relation to the financial affairs of the Authority.\n\n#### 30A Authority to pay dividends from subsidiaries to Commonwealth\n\n  The Authority must pay to the Commonwealth amounts of dividends received by the Authority from subsidiary companies other than such amounts as are specified by the Minister in a written notice given to the Authority.\n\n#### 31 Proper accounts to be kept\n\n  The Authority shall cause to be kept proper accounts and records of the transactions and affairs of the Authority in accordance with the accounting principles generally applied in commercial practice and shall do all things necessary to ensure that all payments out of its moneys are correctly made and properly authorized and that adequate control is maintained over the assets of, or in the custody of, the Authority and over the incurring of liabilities by the Authority.\n\n#### 32 Audit\n\n  (1) The Auditor‑General shall inspect and audit the accounts and records of financial transactions of the Authority and records relating to assets of, or in the custody of, the Authority and shall forthwith draw the attention of the Minister to any irregularity disclosed by the inspection and audit that is, in the opinion of the Auditor‑General, of sufficient importance to justify his or her doing so.\n  (2) The Auditor‑General may, in his or her discretion, dispense with all or any part of the detailed inspection and audit of any accounts or records referred to in subsection (1).\n  (3) The Auditor‑General shall, at least once in each year, report to the Minister the results of the inspection and audit carried out under subsection (1).\n  (4) The Auditor‑General or an officer authorized by the Auditor‑General is entitled at all reasonable times to full and free access to all accounts, records, documents and papers of the Authority relating directly or indirectly to the receipt or payment of moneys by the Authority or to the acquisition, receipt, custody or disposal of assets by the Authority.\n  (5) The Auditor‑General or an officer authorized by the Auditor‑General may make copies of, or take extracts from, any such accounts, records, documents or papers.\n  (6) The Auditor‑General or an officer authorized by the Auditor‑General may require any person to furnish him or her with such information in the possession of the person or to which the person has access as the Auditor‑General or authorized officer considers necessary for the purposes of the functions of the Auditor‑General under this Act, and the person shall comply with the requirement.\n  (7) A person who contravenes subsection (6) is guilty of an offence punishable, upon conviction, by a fine not exceeding $200.\n\n#### 33 Liability to taxation\n\n  (1) Subject to subsection (2A), the Authority is subject to taxation (other than income tax) under the laws of the Commonwealth.\n  (2) Subject to subsection (3), the Authority is not subject to taxation under a law of a State or of a Territory.\n  (2A) Where the Treasurer so determines by notice published in the Gazette, stamp duty, or any similar tax, is not payable by the Authority or any other person under a law of the Commonwealth or of a State or Territory in respect of:\n    (a) a security dealt with by the Authority;\n    (b) the issue, redemption, transfer, sale, purchase, re‑sale, acquisition or discounting of such a security by the Authority or any other person, not including a transaction done without consideration or for an inadequate consideration;\n    (c) any other transaction done for the purposes of a borrowing or other raising of moneys by the Authority; or\n    (d) any other document executed by or on behalf of the Authority for the purposes of a borrowing or other raising of moneys by the Authority.\n  (2B) The power conferred on the Treasurer by subsection (2A) to make a determination extends to the making of a determination in respect of securities included in a specified class or specified classes of securities and in respect of documents or transactions included in a specified class or specified classes of documents or transactions.\n  (3) Subject to subsection (2A), the regulations may provide that subsection (2) does not apply in relation to taxation under a specified law of a State or Territory.\n\n#### 33A Liability of subsidiary to taxation\n\n  (1) Subject to Division 5 of Part VA, a subsidiary company is subject to taxation under the laws of the Commonwealth and a State or Territory.\n  (2) A subsidiary company is not a public authority for the purposes of paragraph 23(d) of the Income Tax Assessment Act 1936.\n\n  \n\n## Part VA—Re‑organisation of the Business of the Authority\n\n### Division 1—Interpretation\n\n#### 33C Interpretation\n\n  In this Part, unless the contrary intention appears:\n\n> Assessment Act means the Income Tax Assessment Act 1936.\n\n> asset means property of any kind, and includes:\n\n    (a) any legal or equitable estate or interest (whether present or future, vested or contingent, tangible or intangible) in real or personal property of any description; and\n    (b) any chose in action; and\n    (c) any right, interest or claim of any kind in or in relation to property (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing).\n\n> authorised person means the Minister or a person authorised, in writing, by the Minister for the purposes of this Part.\n\n> delivery point means any point on a pipeline where petroleum is delivered by the Authority to a person.\n\n> instrument means an instrument of any kind, and includes:\n\n    (a) any contract, deed, undertaking or agreement; and\n    (b) any mandate, instruction, notice, authority or order; and\n    (c) any lease, licence, transfer, conveyance or other assurance; and\n    (d) any guarantee, bond, power of attorney, bill of lading, negotiable instrument or order for the payment of money; and\n    (e) any mortgage, charge, lien or security;\n  whether express or implied and whether made or given orally or in writing.\n\n> instrument to which this Part applies means an instrument:\n\n    (a) to which the Authority is a party; or\n    (b) that was given to, by or in favour of the Authority; or\n    (c) in which a reference is made to the Authority; or\n    (d) under which any money is or may become payable, or any other property is to be, or may become liable to be, transferred, conveyed or assigned, to or by the Authority.\n\n> interest in relation to land, means:\n\n    (a) a legal or equitable estate or interest in land; or\n    (b) a right, power or privilege over, or in relation to, the land.\n\n> liability means a liability of any kind, and includes an obligation of any kind (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing).\n\n> Lithgow pipeline means the Authority’s pipeline originating at a point on the Moomba Sydney pipeline near Young in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Orange;\n    (b) Bathurst;\n    (c) Blayney;\n    (d) Lithgow.\n\n> Moomba means Moomba in South Australia.\n\n> Moomba‑Sydney pipeline means the Authority’s pipeline from Moomba to the delivery point at Wilton in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Bowral;\n    (b) Goulburn;\n    (c) Marulan;\n    (d) Moss Vale.\n\n> Moomba‑Sydney pipeline system means the pipeline system consisting of the following pipelines:\n\n    (a) the Moomba‑Sydney pipeline;\n    (b) the Lithgow pipeline;\n    (c) the Wagga pipeline.\n\n> nominated staff member means a person to whom a determination under section 33R applies.\n\n> non‑transferring asset means:\n\n    (a) the Moomba‑Sydney pipeline system; and\n    (b) any interests in relation to the land on or under which the pipelines for the Moomba‑Sydney pipeline system are constructed; and\n    (c) any other asset that does not become, under this Part, an asset of the receiving subsidiary.\n\n> non‑transferring instrument means an instrument to which this Part applies that does not become, under this Part, an instrument of the receiving subsidiary.\n\n> non‑transferring liability means a liability that does not become, under this Part, a liability of the receiving subsidiary.\n\n> proceeding to which this Part applies means a proceeding to which the Authority is a party, other than a proceeding that does not relate to the transferred business.\n\n> re‑organisation day means the day fixed under section 33D.\n\n> share means a share in the share capital of a company, and includes stock.\n\n> staff member means a person who is an officer or employee of the Authority.\n\n> tax exempt matter means:\n\n    (a) the nomination of the receiving subsidiary under section 33E; and\n    (b) the making of a determination under section 33F; and\n    (c) business of the Authority ceasing, under this Part, to be business of the Authority and becoming business of the receiving subsidiary; and\n    (d) the issue of shares under section 33M; and\n    (e) the operation of this Part in any other respect; and\n    (f) giving effect to a matter referred to in another paragraph of this definition or otherwise giving effect to this Part.\n\n> transfer day, in relation to a nominated staff member, means the day applicable to the staff member in the determination under section 33R that is applicable to the staff member.\n\n> transferring asset means an asset other than:\n\n    (a) the Moomba‑Sydney pipeline system; and\n    (b) any interests in relation to the land on or under which the pipelines for the Moomba‑Sydney pipeline system are constructed;\n  to which a determination under paragraph 33F(1)(a) applies.\n\n> transferring business means the business that becomes, under this Part, business of the receiving subsidiary; and\n\n> transferring instrument means an instrument (other than an instrument relating to the Moomba‑Sydney pipeline system) to which a determination under paragraph 33F(1)(c) applies.\n\n> transferring liability means a liability (other than a liability relating to the Moomba‑Sydney pipeline system) to which a determination under paragraph 33F(1)(b) applies.\n\n> transferring staff member means a staff member who, under this Part, becomes employed by the receiving subsidiary.\n\n> Wagga pipeline means the Authority’s pipeline originating at a point on the Moomba‑Sydney pipeline near Young in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Cootamundra;\n    (b) Junee;\n    (c) Wagga Wagga;\n    (d) Young.\n\n> wholly‑owned subsidiary, in relation to the Authority, means a body corporate:\n\n    (a) that has been formed by the Authority; and\n    (b) that is a subsidiary of the Authority; and\n    (c) none of whose members is a person other than:\n    (i) the Authority; or\n    (ii) a body corporate that is, under any other applications of this definition, a wholly‑owned subsidiary of the Authority; or\n    (iii) a nominee of the Authority or of a body of the kind referred to in subparagraph (ii); and\n    (d) no share in which is beneficially owned by a person other than:\n    (i) the Authority; or\n    (ii) a body of the kind referred to in subparagraph (c)(ii).\n\n  \n\n### Division 2—Steps leading to re‑organisation\n\n#### 33D Fixing the day on which re‑organisation is to take place—the re‑organisation day\n\n  The Minister may, by notice in the Gazette , fix a day as the day on which the re‑organisation under this Part is to take place.\n\n#### 33E Nomination of subsidiary to which business is to be transferred—the receiving subsidiary\n\n  (1) Subject to subsection (2), the Minister must, before the re‑organisation day, by notice in the Gazette, nominate a subsidiary of the Authority as the receiving subsidiary for the purposes of this Part.\n  (2) The Minister must not nominate a subsidiary under subsection (1) unless the subsidiary is:\n    (a) a company incorporated under the Corporations Act 2001; and\n    (b) a wholly‑owned subsidiary; and\n    (c) a trading corporation within the meaning of paragraph 51(xx) of the Constitution.\n  (3) If a subsidiary nominated under subsection (1) ceases, on or before the re‑organisation day, to be a subsidiary of the Authority of the kind described in subsection (2), the Minister must revoke the nomination.\n  (4) For all purposes, and in all proceedings, relating to this Act, proof of the fact that a body corporate was nominated under subsection (1) is to be taken:\n    (a) to have been, on the day of the nomination, a subsidiary of the Authority of the kind described in subsection (2); and\n    (b) at all times thereafter until the re‑organisation day, to have continued to be such a subsidiary.\n\n#### 33F Determination of assets, instruments and liabilities to be transferred etc.—the transferring assets, instruments and liabilities\n\n  (1) The Minister may, by notice in the Gazette:\n    (a) declare a specified asset of the Authority to be a transferring asset; or\n    (b) declare a specified liability of the Authority to be a transferring liability; or\n    (c) declare a specified instrument to which this Part applies to be a transferring instrument.\n  (2) A declaration under subsection (1) may only be made before the re‑organisation day.\n\n  \n\n### Division 3—The re‑organisation\n\n#### 33G Transferred business of Authority becomes business of receiving subsidiary\n\n  On the re‑organisation day, the transferred business of the Authority ceases, by force of this section, to be business of the Authority and becomes business of the receiving subsidiary.\n\n#### 33H Transferring assets and transferring liabilities of Authority become assets and liabilities of receiving subsidiary\n\n  Without limiting section 33G, on the re‑organisation day, all transferring assets and transferring liabilities of the Authority cease to be assets and liabilities of the Authority and become assets and liabilities of the receiving subsidiary.\n\n#### 33J Instruments\n\n  (1) Without limiting section 33G, an instrument to which this Part applies continues, subject to subsection (2), in full force and effect on and after the re‑organisation day.\n  (2) A transferring instrument has effect, in relation to acts, transactions and matters done, entered into or occurring on or after the re‑ organisation day, as if a reference in the instrument to the Authority were a reference to the receiving subsidiary.\n\n#### 33K Pending proceedings\n\n  Without limiting section 33G, if a proceeding to which this Part applies is, immediately before the re‑organisation day, pending in a court, the receiving subsidiary is, on that day, substituted for the Authority as a party.\n\n#### 33L Valuation of transferring business\n\n  (1) The Minister must, by written notice given to the Authority and the receiving subsidiary not later than 7 days after the re‑organisation day, determine:\n    (a) the market value of each transferring asset on the re‑organisation day; and\n    (b) the amount of each transferring liability on that day.\n  (2) The net value of the transferring assets on the re‑organisation day is the amount worked out by subtracting the total amount of the transferring liabilities from the total market value of the transferring assets on that day.\n  (3) For all purposes and in all proceedings, the net value of the transferring business is taken to be the amount determined under subsection (2) as the net value of the transferring assets on that day.\n\n#### 33M Issue of shares in receiving subsidiary to Authority in relation to transferring business\n\n  (1) On the day on which the receiving subsidiary is given the notice under subsection 33L(1), the receiving subsidiary must, subject to subsection (2), issue shares in the receiving subsidiary to the Authority.\n  (2) The shares issued to the Authority are taken to have been fully paid up and to have been issued for valuable consideration.\n\n#### 33N Authorised person may certify matters in relation to re‑organisation\n\n  (1) An authorised person may, by signed writing, certify any matter in relation to the operation of this Division and, in particular, may certify:\n    (a) whether specified assets are or are not transferring assets or non‑transferring assets; and\n    (b) whether specified liabilities are or are not transferring liabilities or non‑transferring liabilities; and\n    (c) whether specified instruments are or are not non‑transferring instruments or other instruments to which this Part applies.\n  (2) A document purporting to be a certificate under subsection (1) is, unless the contrary intention is established, taken to be such a certificate and to have been properly given.\n\n#### 33P Extraterritorial operation of Division\n\n  It is the intention of the Parliament that this Division should apply, to the greatest extent possible, in relation to:\n    (a) things situated outside Australia; and\n    (b) acts, transactions and matters done, entered into or occurring outside Australia; and\n    (c) things, acts, transactions and matters (wherever situated, done, entered into or occurring) that would, apart from this Act, be governed or otherwise affected by the law of a foreign country.\n\n#### 33Q Authority to take steps necessary to carry out re‑organisation\n\n  The Authority must take such steps as are necessary to ensure that this Division is fully effective, particularly in relation to its operation outside Australia.\n\n  \n\n### Division 4—Transfer of staff\n\n#### 33R Determination of staff to be transferred to receiving subsidiary\n\n  The Chief Executive Officer may, in writing, determine that the employment of specified staff members is to be transferred to the receiving subsidiary on and from the day, or the respective days, specified in the determination.\n\n#### 33S Employment of nominated staff member to continue with receiving subsidiary\n\n  Subject to sections 33T and 33U, each nominated staff member who is a staff member immediately before his or her transfer day is, on and from the transfer day, taken to be employed by the receiving subsidiary on the terms and conditions on which he or she was employed by the Authority immediately before the transfer day.\n\n#### 33T Act not to affect certain matters relating to transferring staff members\n\n  (1) This section has effect for the purposes of the application, at any time on or after the transfer day of a transferring staff member, of a law, award, determination or agreement in relation to the employment of the transferring staff member.\n  (2) Neither the transferring staff member’s contract of employment, nor his or her period of employment, is taken to have been broken by the operation of this Part.\n  (3) Without limiting section 33S or subsection (2) of this section, this Part does not affect any accrued rights that the transferring staff member had immediately before the transfer day in relation to any kind of leave.\n  (4) Where, if a transferred staff member had, immediately before the transfer day, ceased to be employed by the Authority:\n    (a) it would have been necessary to take into account a period during which the transferring staff member was employed by the Authority or any other person to determine:\n    (i) an amount payable to the transferring staff member; or\n    (ii) a benefit to which the transferring staff member would have been entitled;\n    because of his or her so ceasing; and\n    (b) apart from this subsection, some or all of that period would not have to be taken into account as a period during which the staff member was employed by the receiving subsidiary;\n  the receiving subsidiary must treat the whole of the first‑mentioned period as a period during which the transferring staff member was employed by it.\n\n#### 33U Variation of terms and conditions of employment\n\n  (1) It is a term of each transferring staff member’s employment after his or her transfer day that the terms and conditions of that employment may be varied to the extent to which, and the manner in which, the terms and conditions of his or her employment could be varied under this Act immediately before the transfer day.\n  (2) This Part does not prevent the terms and conditions of a transferring staff member’s employment after his or her transfer day from being varied:\n    (a) in accordance with those terms and conditions; or\n    (b) by or under a law, award, determination or agreement.\n  (3) In this section:\n\n> terms and conditions includes a term or condition existing because of subsection (1).\n\n> vary, in relation to terms and conditions, includes vary by way of:\n\n    (a) omitting any of those terms and conditions; or\n    (b) adding to those terms and conditions; or\n    (c) substituting new terms or conditions for any of those terms and conditions.\n\n  \n\n### Division 5—Taxation matters\n\n#### 33V Exemptions relating to tax exempt matters\n\n  (1) Tax under a law of the Commonwealth or a State or Territory is not payable in relation to:\n    (a) a tax exempt matter; or\n    (b) anything done (including, for example, a transaction entered into or an instrument made, executed, lodged or given) because of, or for a purpose connected with or arising out of, a tax exempt matter.\n  (2) In subsection (1):\n\n> tax includes:\n\n    (a) sales tax; and\n    (b) stamp duty; and\n    (c) any other tax, fee, duty, levy or charge;\n  but does not include income tax imposed as such by a law of the Commonwealth or fees payable under the Corporations Act 2001.\n\n#### 33W Value of trading stock for income tax purposes\n\n  (1) For the purpose of ascertaining under Subdivision B of Division 2 of Part III of the Assessment Act the value of the receiving subsidiary’s trading stock on hand at the beginning of the year of income in which the re‑organisation day occurs:\n    (a) the receiving subsidiary is taken to have opted for market selling price; and\n    (b) the market selling price of petroleum transferred to the receiving subsidiary is taken to be the Authority’s market selling price of the petroleum assuming the petroleum were not transferred.\n  (2) Unless the contrary intention appears, expressions used in this section, and in Subdivision B of Division 2 of Part III of the Assessment Act, have the same respective meanings as in that Subdivision.\n\n#### 33X Capital gains tax—assets acquired on or after 20 September 1985\n\n  (1) This section applies in relation to an asset that:\n    (a) was acquired by the Authority on or after 20 September 1985; and\n    (b) is acquired by the receiving subsidiary on the re‑organisation day.\n  (2) For the purposes of calculating whether, under Part IIIA of the Assessment Act, a capital gain accrues to, or a capital loss is incurred by, the receiving subsidiary on the disposal of the asset by the subsidiary, the subsidiary is taken to have paid as consideration for the acquisition of the asset an amount calculated in accordance with this section.\n  (3) If it is necessary to determine whether a capital gain has accrued, the consideration paid by the subsidiary for the acquisition of the asset is to be taken to have been:\n    (a) if the market value of the asset on the re‑organisation day is greater than the amount that would have been the indexed cost base (indexed cost base) to the Authority for the purposes of Part IIIA of the Assessment Act if that Part had applied in respect of that disposal by the Authority to the receiving subsidiary—an amount equal to the market value of the asset; or\n    (b) in any other case—an amount equal to the amount that would have been the indexed cost base.\n  (4) Where it is necessary to determine whether a capital loss has been incurred, the consideration paid by the subsidiary for the acquisition of the asset is to be taken to have been:\n    (a) if the market value of the asset on the re‑organisation day is less than the amount that would have been the reduced cost base (reduced cost base) to the Authority for the purposes of Part IIIA of the Assessment Act if that Part had applied in respect of that disposal by the Authority to the receiving subsidiary—an amount equal to the market value of the asset; or\n    (b) in any other case—an amount equal to the amount that would have been the reduced cost base.\n  (5) If the transferred asset is disposed of by the receiving subsidiary within 12 months of its acquisition by the Authority, subsection (3) has effect as if the references in that subsection to the indexed cost base to the Authority in relation to the asset were references to the cost base to the Authority in relation to the asset.\n  (6) Unless the contrary intention appears, expressions used in this section and in Part IIIA of the Assessment Act have the same respective meanings as in that Part.\n\n#### 33Y Capital gains tax—assets acquired before 20 September 1985\n\n  (1) A transferred asset of the receiving subsidiary that was acquired by the Authority before 20 September 1985 is taken, for the purposes of Part IIIA of the Assessment Act, to have been acquired by the receiving subsidiary before that date.\n  (2) Unless the contrary intention appears, expressions used in this section and in Part IIIA of the Assessment Act have the same respective meanings as in that Part.\n\n#### 33Z Superannuation payments\n\n  For the purposes of section 82AAC of the Assessment Act, a payment made by the receiving subsidiary of the Authority to the Commonwealth under:\n    (a) the Superannuation Act 1976; or\n    (b) the Superannuation Act 1990;\n  is taken to be a contribution to a fund for the purpose mentioned in paragraph 82AAC(1)(a) of the Assessment Act, being a fund that is an eligible superannuation fund, within the meaning of Part IX of the Assessment Act, in relation to the year of income of the fund in which the payment is made.\n\n  \n\n### Division 6—Miscellaneous\n\n#### 33ZA Certificates in relation to land and interests in land\n\n  If:\n    (a) land or an interest in land becomes, under this Part, land or an interest in land of the receiving subsidiary; and\n    (b) a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the land or interest, whether by reference to a map or otherwise; and\n    (iii) states that the land or interest has, under this Part, become land or an interest in land of the receiving subsidiary;\n    is lodged with the Registrar‑General, Registrar of Titles or other proper officer of the State or Territory in which the land is situated;\n  the officer with whom the certificate is lodged may:\n    (c) deal with, and give effect to, the certificate as if it were a grant, conveyance, memorandum or instrument of transfer of the land (including all rights, title and interest in the land) or the interest in the land, as the case may be, to the receiving subsidiary that had been properly executed under the laws in force in the State or Territory; and\n    (d) make such entries in the register as are necessary having regard to the effect of section 33H.\n\n#### 33ZB Certificates in relation to other assets\n\n  If:\n    (a) an asset (other than an asset in relation to which section 33V, 33W, 33X or 33Y applies) becomes, under this Part, an asset of the receiving subsidiary; and\n    (b) a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the asset; and\n    (iii) states that the asset has, under this Part, become an asset of the receiving subsidiary;\n    is given to the person or authority who has, under the law of the Commonwealth or of a State or Territory, responsibility for keeping a register in relation to assets of that kind;\n  the person or authority may:\n    (c) deal with, and give effect to, the certificate as if the certificate were a proper and appropriate instrument for transactions in relation to assets of that kind; and\n    (d) make such entries in the register as are necessary having regard to the effect of section 33H.\n\n#### 33ZC Part to have effect in spite of laws and agreements prohibiting transfer etc.\n\n  (1) This Part has effect, and must be given effect to, in spite of anything in:\n    (a) any other law of the Commonwealth or any law of a State or Territory; or\n    (b) any contract, deed, undertaking, agreement or other instrument.\n  (2) No provision of this Part, and nothing done by a person because of, or for a purpose connected with or arising out of, this Part:\n    (a) is to be regarded as:\n    (i) placing the Authority, a subsidiary of the Authority or another person in breach of contract or confidence; or\n    (ii) otherwise making the Authority, a subsidiary of the Authority or another person guilty of a civil wrong; or\n    (b) is to be regarded as placing the Authority, a subsidiary of the Authority or another person in breach of:\n    (i) any law of the Commonwealth or of a State or Territory; or\n    (ii) any contractual provision prohibiting, restricting or regulating the assignment or transfer of any asset or liability or the disclosure of any information; or\n    (c) is to be taken to release any surety from any of the surety’s obligations.\n  (3) Without limiting subsection (1), if, apart from this section, the consent of a person would be necessary in order to give effect to this Part in a particular respect, the consent is taken to have been given.\n\n#### 33ZD Compensation for acquisition of property\n\n  (1) If, apart from this section, the operation of this Part would result in the acquisition of property from a person otherwise than on just terms, there is payable to the person by the Authority such reasonable amount of compensation as is agreed on between the person and the Authority or, failing agreement, as is determined by a court of competent jurisdiction.\n  (2) Any damages or compensation recovered, or other remedy given, in a proceeding instituted otherwise than under this section must be taken into account in assessing compensation payable in a proceeding instituted under this section and arising out of the same event or transaction.\n  (3) In this section, acquisition of property and just terms have the same respective meanings as in paragraph 51(xxxi) of the Constitution.\n\n  \n\n## Part VB—Transfer to Gorodok of easements of the Authority relating to the Moomba‑Botany Pipeline\n\n#### 33ZE Definitions\n\n  In this Part, unless the contrary intention appears:\n\n> authorised person means:\n\n    (a) the Minister; or\n    (b) a person authorised by the Minister, in writing, for the purposes of this Part.\n\n> easement includes a right in relation to land.\n\n> Gorodok means Gorodok Proprietary Limited (A.C.N. 057 156 751).\n\n> instrument includes a document.\n\n> Moomba‑Botany pipeline means the pipeline that, when constructed, will carry gas from Moomba in South Australia to Botany in New South Wales.\n\n> transfer day, in relation to a transferring interest, means the day specified in a notice under section 33ZF.\n\n> transferring interest means an easement specified in a notice under section 33ZF.\n\n#### 33ZF Specifying the easements etc. to be transferred to Gorodok and the transfer day\n\n  (1) An authorised person may, by notice in the Gazette, specify:\n    (a) an easement that relates to the Moomba‑Botany pipeline; and\n    (b) the transfer day for that easement.\n  (2) The authorised person may make and publish one or more notices under subsection (1).\n\n#### 33ZG Transfer to Gorodok of transferring interests of the Authority\n\n  By force of this section, each transferring interest of the Authority:\n    (a) ceases to be an asset of the Authority; and\n    (b) becomes an asset of Gorodok;\n  on the transfer day for the interest.\n\n#### 33ZH Instruments relating to the transferring interests of the Authority\n\n  (1) An authorised person may, by notice in the Gazette, on or before the transfer day for a particular transferring interest, specify an instrument that relates to the interest for the purposes of this section.\n  (2) An instrument specified in a notice under subsection (1) continues to have effect, on and after the transfer day for the transferring interest that relates to the instrument, as if a reference in the instrument to the Authority were a reference to Gorodok.\n\n#### 33ZJ Certificates in relation to interests in land\n\n  (1) This section applies if:\n    (a) an interest in land becomes an interest in land of Gorodok under this Part; and\n    (b) there is lodged with a land registration official a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the interest, whether by reference to a map or otherwise; and\n    (iii) states that the interest has become an interest in land of Gorodok under this Part.\n  (2) The land registration official may:\n    (a) register the matter in the same way in which dealings in in land of that kind are registered; and\n    (b) deal with, and give effect to, the certificate.\n  (3) A document that appears to be a certificate under subsection (1) is taken to be such a certificate and to have been properly given unless the contrary is established.\n  (4) In this section:\n\n> land registration official means the Registrar of Titles or other proper officer of the State in which the land concerned is situated.\n\n#### 33ZK Commonwealth and Authority to take steps necessary to carry out transfers\n\n  The Commonwealth and the Authority must take the steps that are necessary to ensure that this Part is fully effective.\n\n#### 33ZL Part to have effect in spite of laws prohibiting transfers\n\n  (1) This Part has effect, and must be given effect to, in spite of anything in:\n    (a) any law of the Commonwealth or any law of a State or Territory; or\n    (b) any instrument.\n  (2) Without limiting subsection (1), if the consent of a person is necessary in order to give effect to this Part in a particular respect, the consent is taken to have been given.","sortOrder":27},{"sectionNumber":"33G","sectionType":"section","heading":"Transferred business of Authority becomes business of receiving subsidiary","content":"#### 33G Transferred business of Authority becomes business of receiving subsidiary\n\n  On the re‑organisation day, the transferred business of the Authority ceases, by force of this section, to be business of the Authority and becomes business of the receiving subsidiary.","sortOrder":28},{"sectionNumber":"33H","sectionType":"section","heading":"Transferring assets and transferring liabilities of Authority become assets and liabilities of receiving subsidiary","content":"#### 33H Transferring assets and transferring liabilities of Authority become assets and liabilities of receiving subsidiary\n\n  Without limiting section 33G, on the re‑organisation day, all transferring assets and transferring liabilities of the Authority cease to be assets and liabilities of the Authority and become assets and liabilities of the receiving subsidiary.","sortOrder":29},{"sectionNumber":"33J","sectionType":"section","heading":"Instruments","content":"#### 33J Instruments\n\n  (1) Without limiting section 33G, an instrument to which this Part applies continues, subject to subsection (2), in full force and effect on and after the re‑organisation day.\n  (2) A transferring instrument has effect, in relation to acts, transactions and matters done, entered into or occurring on or after the re‑ organisation day, as if a reference in the instrument to the Authority were a reference to the receiving subsidiary.","sortOrder":30},{"sectionNumber":"33K","sectionType":"section","heading":"Pending proceedings","content":"#### 33K Pending proceedings\n\n  Without limiting section 33G, if a proceeding to which this Part applies is, immediately before the re‑organisation day, pending in a court, the receiving subsidiary is, on that day, substituted for the Authority as a party.","sortOrder":31},{"sectionNumber":"33L","sectionType":"section","heading":"Valuation of transferring business","content":"#### 33L Valuation of transferring business\n\n  (1) The Minister must, by written notice given to the Authority and the receiving subsidiary not later than 7 days after the re‑organisation day, determine:\n    (a) the market value of each transferring asset on the re‑organisation day; and\n    (b) the amount of each transferring liability on that day.\n  (2) The net value of the transferring assets on the re‑organisation day is the amount worked out by subtracting the total amount of the transferring liabilities from the total market value of the transferring assets on that day.\n  (3) For all purposes and in all proceedings, the net value of the transferring business is taken to be the amount determined under subsection (2) as the net value of the transferring assets on that day.","sortOrder":32},{"sectionNumber":"33M","sectionType":"section","heading":"Issue of shares in receiving subsidiary to Authority in relation to transferring business","content":"#### 33M Issue of shares in receiving subsidiary to Authority in relation to transferring business\n\n  (1) On the day on which the receiving subsidiary is given the notice under subsection 33L(1), the receiving subsidiary must, subject to subsection (2), issue shares in the receiving subsidiary to the Authority.\n  (2) The shares issued to the Authority are taken to have been fully paid up and to have been issued for valuable consideration.","sortOrder":33},{"sectionNumber":"33N","sectionType":"section","heading":"Authorised person may certify matters in relation to re‑organisation","content":"#### 33N Authorised person may certify matters in relation to re‑organisation\n\n  (1) An authorised person may, by signed writing, certify any matter in relation to the operation of this Division and, in particular, may certify:\n    (a) whether specified assets are or are not transferring assets or non‑transferring assets; and\n    (b) whether specified liabilities are or are not transferring liabilities or non‑transferring liabilities; and\n    (c) whether specified instruments are or are not non‑transferring instruments or other instruments to which this Part applies.\n  (2) A document purporting to be a certificate under subsection (1) is, unless the contrary intention is established, taken to be such a certificate and to have been properly given.","sortOrder":34},{"sectionNumber":"33P","sectionType":"section","heading":"Extraterritorial operation of Division","content":"#### 33P Extraterritorial operation of Division\n\n  It is the intention of the Parliament that this Division should apply, to the greatest extent possible, in relation to:\n    (a) things situated outside Australia; and\n    (b) acts, transactions and matters done, entered into or occurring outside Australia; and\n    (c) things, acts, transactions and matters (wherever situated, done, entered into or occurring) that would, apart from this Act, be governed or otherwise affected by the law of a foreign country.","sortOrder":35},{"sectionNumber":"33Q","sectionType":"section","heading":"Authority to take steps necessary to carry out re‑organisation","content":"#### 33Q Authority to take steps necessary to carry out re‑organisation\n\n  The Authority must take such steps as are necessary to ensure that this Division is fully effective, particularly in relation to its operation outside Australia.","sortOrder":36},{"sectionNumber":"Division 4","sectionType":"division","heading":"Transfer of staff","content":"An Act to establish a Pipeline Authority\n\n## Part I—Preliminary\n\n#### 1 Short title \\[see Note 1\\]\n\n  This Act may be cited as the Pipeline Authority Act 1973.\n\n#### 2 Commencement \\[see Note 1\\]\n\n  This Act shall come into operation on a date to be fixed by Proclamation.\n\n#### 3 Interpretation\n\n  (1) In this Act a reference to the Authority is a reference to the Pipeline Authority as it was established by this Act before the repeal day.\n  (2) In this section:\n\n> repeal day has the same meaning as in Part 8 of the Moomba‑Sydney Pipeline System Sale Act 1994.\n\n  \n\n## Part V—Finance\n\n#### 25A Borrowings otherwise than from Commonwealth\n\n  (1) The Authority may, with the approval of the Treasurer:\n    (a) borrow money otherwise than from the Commonwealth; or\n    (b) raise money otherwise than by borrowing;\n  on terms and conditions that are specified in, or consistent with, the approval.\n  (2) Without limiting the generality of subsection (1), the Authority may, under that subsection, borrow money, or raise money otherwise than by borrowing, by dealing with securities.\n  (3) A borrowing of money, or a raising of money otherwise than by borrowing, under subsection (1) may be made, in whole or in part, in a currency other than Australian currency.\n  (4) An approval may be given under subsection (1) in relation to a particular transaction or in relation to transactions included in a class of transactions.\n  (5) An approval under subsection (1) shall be given in writing.\n  (6) For the purposes of this section:\n    (a) the issue by the Authority of an instrument acknowledging a debt in consideration of:\n    (i) the payment or deposit of money; or\n    (ii) the provision of credit;\n    otherwise than in relation to a transaction that is in the ordinary course of the day‑to‑day operations of the Authority shall be deemed to be a raising by the Authority, otherwise than by borrowing, of an amount of money equal to the amount of the money paid or deposited or the value of the credit provided, as the case may be; and\n    (b) the obtaining of credit by the Authority otherwise than in relation to a transaction that is in the ordinary course of the day‑to‑day operations of the Authority shall be deemed to be a raising by the Authority, otherwise than by borrowing, of an amount of money equal to the value of the credit so obtained.\n\n#### 25B Guarantee of borrowings by Authority\n\n  (1) The Treasurer may, on behalf of the Commonwealth, enter into a contract:\n    (a) guaranteeing the repayment by the Authority of money borrowed under paragraph 25A(1)(a) and the payment by the Authority of interest (including any interest on that interest) on money so borrowed; or\n    (b) guaranteeing the payment by the Authority of such amounts (which may be interest) that the Authority is liable to pay with respect to money raised under paragraph 25A(1)(b) as are specified in the contract.\n  (2) The Treasurer may, in writing, determine:\n    (a) that the repayment by the Authority of money borrowed under paragraph 25A(1)(a), and the payment by the Authority of interest (including any interest on that interest) on money so borrowed, are guaranteed by the Commonwealth; or\n    (b) that the payment by the Authority of such money (which may be interest) that the Authority is liable to pay with respect to money raised under paragraph 25A(1)(b) as is specified in the determination is guaranteed by the Commonwealth;\n  and, where the Treasurer makes such a determination, the repayment of that money and the payment of that interest are, or the payment of that money is, by force of this subsection, guaranteed by the Commonwealth.\n  (3) A contract may be entered into under subsection (1), and a determination may be made under subsection (2), in relation to a particular transaction or in relation to transactions included in a class of transactions.\n  (4) A contract entered into under subsection (1) may include either or both of the following provisions:\n    (a) a provision agreeing, on behalf of the Commonwealth, that proceedings under the contract may be taken in the courts, or a specified court, of a country other than Australia;\n    (b) a provision waiving, on behalf of the Commonwealth, the immunity of the Commonwealth from suit in the courts, or a specified court, of a country other than Australia in relation to any proceedings that may be taken under the contract.\n\n#### 25C Authority may give security\n\n  The Authority may give security over the whole or any part of its land or other assets for:\n    (a) the repayment by the Authority of money borrowed by the Authority under section 25 or paragraph 25A(1)(a) and the payment by the Authority of interest (including any interest on that interest) on money so borrowed;\n    (b) the payment by the Authority of amounts (including any interest) that the Authority is liable to pay with respect to money raised by the Authority under paragraph 25A(1)(b); or\n    (c) the payment to the Commonwealth of amounts equal to any amounts that the Commonwealth may become liable to pay under a contract entered into under subsection 25B(1) or a determination made under subsection 25B(2).\n\n#### 25D Borrowings not otherwise permitted\n\n  The Authority shall not borrow money, or raise money otherwise than by borrowing, except in accordance with sections 25 and 25A.\n\n#### 25E Delegation by Treasurer\n\n  (1) The Treasurer may, either generally or as otherwise provided by the instrument of delegation, by writing signed by the Treasurer, delegate to a person holding or performing the duties of an office in the Department of the Treasury all or any of the powers of the Treasurer under sections 25A and 25B.\n  (2) A power so delegated, when exercised by the delegate, shall, for the purposes of this Part, be deemed to have been exercised by the Treasurer.\n  (3) A delegate is, in the exercise of a power so delegated, subject to the directions of the Treasurer.\n  (4) A delegation under subsection (1) does not prevent the exercise of a power by the Treasurer.\n\n#### 26 Bank accounts\n\n  (1) The Authority may open and maintain an account or accounts with an approved bank or approved banks and shall maintain at all times at least one such account.\n  (2) The Authority shall pay all moneys of the Authority, including moneys borrowed by the Authority, into an account referred to in this section.\n\n#### 27 Application of moneys\n\n  (1) The moneys of the Authority may be applied by the Authority:\n    (a) in payment or discharge of the costs, expenses and other obligations of the Authority under this Act; and\n    (b) in payment of remuneration and allowances payable to any person under this Act;\n  but not otherwise.\n  (2) Moneys of the Authority not immediately required for the purposes of the Authority may be invested:\n    (a) on deposit with an approved bank;\n    (b) in securities of the Commonwealth; or\n    (c) in any other manner approved by the Treasurer.\n\n#### 28 Financial policy\n\n  (1) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is commenced by the Authority; and\n    (b) the Authority continues to operate and maintain any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) the construction of the pipeline; and\n    (d) the operation and maintenance of the transferred pipelines; and\n    (e) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (f) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (2) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is not commenced by the Authority; and\n    (b) the Authority continues to operate and maintain any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) the operation and maintenance of the transferred pipelines; and\n    (d) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (e) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (3) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is not commenced by the Authority; and\n    (b) the Authority does not continue to operate any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (d) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (4) In this section:\n\n> Sale Act means the Moomba‑Sydney Pipeline System Sale Act 1994.\n\n> sale day has the same meaning as in the Sale Act.\n\n> transferred pipeline means a pipeline that ceases to be an asset of the Authority because of the Sale Act.\n\n#### 28A Estimates\n\n  The Authority shall prepare estimates, in such form as the Minister directs, of its receipts and expenditure for each financial year and, if so directed by the Minister, for any other period, and shall submit those estimates to the Minister not later than such date as the Minister directs.\n\n#### 30 Profits of the Authority\n\n  (1) For the purposes of this Act, the profits of the Authority for a financial year are the amount, if any, remaining after deducting from the revenue received or receivable in respect of that financial year the expenditure, and provision for expenditure, properly chargeable against that revenue.\n  (2) Subject to section 30A, the profits of the Authority for a financial year shall be applied in such manner as the Minister, with the concurrence of the Minister for Finance determines.\n  (3) In making a determination under subsection (2), regard shall be had to any advice which the Authority has furnished to the Minister in relation to the financial affairs of the Authority.\n\n#### 30A Authority to pay dividends from subsidiaries to Commonwealth\n\n  The Authority must pay to the Commonwealth amounts of dividends received by the Authority from subsidiary companies other than such amounts as are specified by the Minister in a written notice given to the Authority.\n\n#### 31 Proper accounts to be kept\n\n  The Authority shall cause to be kept proper accounts and records of the transactions and affairs of the Authority in accordance with the accounting principles generally applied in commercial practice and shall do all things necessary to ensure that all payments out of its moneys are correctly made and properly authorized and that adequate control is maintained over the assets of, or in the custody of, the Authority and over the incurring of liabilities by the Authority.\n\n#### 32 Audit\n\n  (1) The Auditor‑General shall inspect and audit the accounts and records of financial transactions of the Authority and records relating to assets of, or in the custody of, the Authority and shall forthwith draw the attention of the Minister to any irregularity disclosed by the inspection and audit that is, in the opinion of the Auditor‑General, of sufficient importance to justify his or her doing so.\n  (2) The Auditor‑General may, in his or her discretion, dispense with all or any part of the detailed inspection and audit of any accounts or records referred to in subsection (1).\n  (3) The Auditor‑General shall, at least once in each year, report to the Minister the results of the inspection and audit carried out under subsection (1).\n  (4) The Auditor‑General or an officer authorized by the Auditor‑General is entitled at all reasonable times to full and free access to all accounts, records, documents and papers of the Authority relating directly or indirectly to the receipt or payment of moneys by the Authority or to the acquisition, receipt, custody or disposal of assets by the Authority.\n  (5) The Auditor‑General or an officer authorized by the Auditor‑General may make copies of, or take extracts from, any such accounts, records, documents or papers.\n  (6) The Auditor‑General or an officer authorized by the Auditor‑General may require any person to furnish him or her with such information in the possession of the person or to which the person has access as the Auditor‑General or authorized officer considers necessary for the purposes of the functions of the Auditor‑General under this Act, and the person shall comply with the requirement.\n  (7) A person who contravenes subsection (6) is guilty of an offence punishable, upon conviction, by a fine not exceeding $200.\n\n#### 33 Liability to taxation\n\n  (1) Subject to subsection (2A), the Authority is subject to taxation (other than income tax) under the laws of the Commonwealth.\n  (2) Subject to subsection (3), the Authority is not subject to taxation under a law of a State or of a Territory.\n  (2A) Where the Treasurer so determines by notice published in the Gazette, stamp duty, or any similar tax, is not payable by the Authority or any other person under a law of the Commonwealth or of a State or Territory in respect of:\n    (a) a security dealt with by the Authority;\n    (b) the issue, redemption, transfer, sale, purchase, re‑sale, acquisition or discounting of such a security by the Authority or any other person, not including a transaction done without consideration or for an inadequate consideration;\n    (c) any other transaction done for the purposes of a borrowing or other raising of moneys by the Authority; or\n    (d) any other document executed by or on behalf of the Authority for the purposes of a borrowing or other raising of moneys by the Authority.\n  (2B) The power conferred on the Treasurer by subsection (2A) to make a determination extends to the making of a determination in respect of securities included in a specified class or specified classes of securities and in respect of documents or transactions included in a specified class or specified classes of documents or transactions.\n  (3) Subject to subsection (2A), the regulations may provide that subsection (2) does not apply in relation to taxation under a specified law of a State or Territory.\n\n#### 33A Liability of subsidiary to taxation\n\n  (1) Subject to Division 5 of Part VA, a subsidiary company is subject to taxation under the laws of the Commonwealth and a State or Territory.\n  (2) A subsidiary company is not a public authority for the purposes of paragraph 23(d) of the Income Tax Assessment Act 1936.\n\n  \n\n## Part VA—Re‑organisation of the Business of the Authority\n\n### Division 1—Interpretation\n\n#### 33C Interpretation\n\n  In this Part, unless the contrary intention appears:\n\n> Assessment Act means the Income Tax Assessment Act 1936.\n\n> asset means property of any kind, and includes:\n\n    (a) any legal or equitable estate or interest (whether present or future, vested or contingent, tangible or intangible) in real or personal property of any description; and\n    (b) any chose in action; and\n    (c) any right, interest or claim of any kind in or in relation to property (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing).\n\n> authorised person means the Minister or a person authorised, in writing, by the Minister for the purposes of this Part.\n\n> delivery point means any point on a pipeline where petroleum is delivered by the Authority to a person.\n\n> instrument means an instrument of any kind, and includes:\n\n    (a) any contract, deed, undertaking or agreement; and\n    (b) any mandate, instruction, notice, authority or order; and\n    (c) any lease, licence, transfer, conveyance or other assurance; and\n    (d) any guarantee, bond, power of attorney, bill of lading, negotiable instrument or order for the payment of money; and\n    (e) any mortgage, charge, lien or security;\n  whether express or implied and whether made or given orally or in writing.\n\n> instrument to which this Part applies means an instrument:\n\n    (a) to which the Authority is a party; or\n    (b) that was given to, by or in favour of the Authority; or\n    (c) in which a reference is made to the Authority; or\n    (d) under which any money is or may become payable, or any other property is to be, or may become liable to be, transferred, conveyed or assigned, to or by the Authority.\n\n> interest in relation to land, means:\n\n    (a) a legal or equitable estate or interest in land; or\n    (b) a right, power or privilege over, or in relation to, the land.\n\n> liability means a liability of any kind, and includes an obligation of any kind (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing).\n\n> Lithgow pipeline means the Authority’s pipeline originating at a point on the Moomba Sydney pipeline near Young in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Orange;\n    (b) Bathurst;\n    (c) Blayney;\n    (d) Lithgow.\n\n> Moomba means Moomba in South Australia.\n\n> Moomba‑Sydney pipeline means the Authority’s pipeline from Moomba to the delivery point at Wilton in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Bowral;\n    (b) Goulburn;\n    (c) Marulan;\n    (d) Moss Vale.\n\n> Moomba‑Sydney pipeline system means the pipeline system consisting of the following pipelines:\n\n    (a) the Moomba‑Sydney pipeline;\n    (b) the Lithgow pipeline;\n    (c) the Wagga pipeline.\n\n> nominated staff member means a person to whom a determination under section 33R applies.\n\n> non‑transferring asset means:\n\n    (a) the Moomba‑Sydney pipeline system; and\n    (b) any interests in relation to the land on or under which the pipelines for the Moomba‑Sydney pipeline system are constructed; and\n    (c) any other asset that does not become, under this Part, an asset of the receiving subsidiary.\n\n> non‑transferring instrument means an instrument to which this Part applies that does not become, under this Part, an instrument of the receiving subsidiary.\n\n> non‑transferring liability means a liability that does not become, under this Part, a liability of the receiving subsidiary.\n\n> proceeding to which this Part applies means a proceeding to which the Authority is a party, other than a proceeding that does not relate to the transferred business.\n\n> re‑organisation day means the day fixed under section 33D.\n\n> share means a share in the share capital of a company, and includes stock.\n\n> staff member means a person who is an officer or employee of the Authority.\n\n> tax exempt matter means:\n\n    (a) the nomination of the receiving subsidiary under section 33E; and\n    (b) the making of a determination under section 33F; and\n    (c) business of the Authority ceasing, under this Part, to be business of the Authority and becoming business of the receiving subsidiary; and\n    (d) the issue of shares under section 33M; and\n    (e) the operation of this Part in any other respect; and\n    (f) giving effect to a matter referred to in another paragraph of this definition or otherwise giving effect to this Part.\n\n> transfer day, in relation to a nominated staff member, means the day applicable to the staff member in the determination under section 33R that is applicable to the staff member.\n\n> transferring asset means an asset other than:\n\n    (a) the Moomba‑Sydney pipeline system; and\n    (b) any interests in relation to the land on or under which the pipelines for the Moomba‑Sydney pipeline system are constructed;\n  to which a determination under paragraph 33F(1)(a) applies.\n\n> transferring business means the business that becomes, under this Part, business of the receiving subsidiary; and\n\n> transferring instrument means an instrument (other than an instrument relating to the Moomba‑Sydney pipeline system) to which a determination under paragraph 33F(1)(c) applies.\n\n> transferring liability means a liability (other than a liability relating to the Moomba‑Sydney pipeline system) to which a determination under paragraph 33F(1)(b) applies.\n\n> transferring staff member means a staff member who, under this Part, becomes employed by the receiving subsidiary.\n\n> Wagga pipeline means the Authority’s pipeline originating at a point on the Moomba‑Sydney pipeline near Young in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Cootamundra;\n    (b) Junee;\n    (c) Wagga Wagga;\n    (d) Young.\n\n> wholly‑owned subsidiary, in relation to the Authority, means a body corporate:\n\n    (a) that has been formed by the Authority; and\n    (b) that is a subsidiary of the Authority; and\n    (c) none of whose members is a person other than:\n    (i) the Authority; or\n    (ii) a body corporate that is, under any other applications of this definition, a wholly‑owned subsidiary of the Authority; or\n    (iii) a nominee of the Authority or of a body of the kind referred to in subparagraph (ii); and\n    (d) no share in which is beneficially owned by a person other than:\n    (i) the Authority; or\n    (ii) a body of the kind referred to in subparagraph (c)(ii).\n\n  \n\n### Division 2—Steps leading to re‑organisation\n\n#### 33D Fixing the day on which re‑organisation is to take place—the re‑organisation day\n\n  The Minister may, by notice in the Gazette , fix a day as the day on which the re‑organisation under this Part is to take place.\n\n#### 33E Nomination of subsidiary to which business is to be transferred—the receiving subsidiary\n\n  (1) Subject to subsection (2), the Minister must, before the re‑organisation day, by notice in the Gazette, nominate a subsidiary of the Authority as the receiving subsidiary for the purposes of this Part.\n  (2) The Minister must not nominate a subsidiary under subsection (1) unless the subsidiary is:\n    (a) a company incorporated under the Corporations Act 2001; and\n    (b) a wholly‑owned subsidiary; and\n    (c) a trading corporation within the meaning of paragraph 51(xx) of the Constitution.\n  (3) If a subsidiary nominated under subsection (1) ceases, on or before the re‑organisation day, to be a subsidiary of the Authority of the kind described in subsection (2), the Minister must revoke the nomination.\n  (4) For all purposes, and in all proceedings, relating to this Act, proof of the fact that a body corporate was nominated under subsection (1) is to be taken:\n    (a) to have been, on the day of the nomination, a subsidiary of the Authority of the kind described in subsection (2); and\n    (b) at all times thereafter until the re‑organisation day, to have continued to be such a subsidiary.\n\n#### 33F Determination of assets, instruments and liabilities to be transferred etc.—the transferring assets, instruments and liabilities\n\n  (1) The Minister may, by notice in the Gazette:\n    (a) declare a specified asset of the Authority to be a transferring asset; or\n    (b) declare a specified liability of the Authority to be a transferring liability; or\n    (c) declare a specified instrument to which this Part applies to be a transferring instrument.\n  (2) A declaration under subsection (1) may only be made before the re‑organisation day.\n\n  \n\n### Division 3—The re‑organisation\n\n#### 33G Transferred business of Authority becomes business of receiving subsidiary\n\n  On the re‑organisation day, the transferred business of the Authority ceases, by force of this section, to be business of the Authority and becomes business of the receiving subsidiary.\n\n#### 33H Transferring assets and transferring liabilities of Authority become assets and liabilities of receiving subsidiary\n\n  Without limiting section 33G, on the re‑organisation day, all transferring assets and transferring liabilities of the Authority cease to be assets and liabilities of the Authority and become assets and liabilities of the receiving subsidiary.\n\n#### 33J Instruments\n\n  (1) Without limiting section 33G, an instrument to which this Part applies continues, subject to subsection (2), in full force and effect on and after the re‑organisation day.\n  (2) A transferring instrument has effect, in relation to acts, transactions and matters done, entered into or occurring on or after the re‑ organisation day, as if a reference in the instrument to the Authority were a reference to the receiving subsidiary.\n\n#### 33K Pending proceedings\n\n  Without limiting section 33G, if a proceeding to which this Part applies is, immediately before the re‑organisation day, pending in a court, the receiving subsidiary is, on that day, substituted for the Authority as a party.\n\n#### 33L Valuation of transferring business\n\n  (1) The Minister must, by written notice given to the Authority and the receiving subsidiary not later than 7 days after the re‑organisation day, determine:\n    (a) the market value of each transferring asset on the re‑organisation day; and\n    (b) the amount of each transferring liability on that day.\n  (2) The net value of the transferring assets on the re‑organisation day is the amount worked out by subtracting the total amount of the transferring liabilities from the total market value of the transferring assets on that day.\n  (3) For all purposes and in all proceedings, the net value of the transferring business is taken to be the amount determined under subsection (2) as the net value of the transferring assets on that day.\n\n#### 33M Issue of shares in receiving subsidiary to Authority in relation to transferring business\n\n  (1) On the day on which the receiving subsidiary is given the notice under subsection 33L(1), the receiving subsidiary must, subject to subsection (2), issue shares in the receiving subsidiary to the Authority.\n  (2) The shares issued to the Authority are taken to have been fully paid up and to have been issued for valuable consideration.\n\n#### 33N Authorised person may certify matters in relation to re‑organisation\n\n  (1) An authorised person may, by signed writing, certify any matter in relation to the operation of this Division and, in particular, may certify:\n    (a) whether specified assets are or are not transferring assets or non‑transferring assets; and\n    (b) whether specified liabilities are or are not transferring liabilities or non‑transferring liabilities; and\n    (c) whether specified instruments are or are not non‑transferring instruments or other instruments to which this Part applies.\n  (2) A document purporting to be a certificate under subsection (1) is, unless the contrary intention is established, taken to be such a certificate and to have been properly given.\n\n#### 33P Extraterritorial operation of Division\n\n  It is the intention of the Parliament that this Division should apply, to the greatest extent possible, in relation to:\n    (a) things situated outside Australia; and\n    (b) acts, transactions and matters done, entered into or occurring outside Australia; and\n    (c) things, acts, transactions and matters (wherever situated, done, entered into or occurring) that would, apart from this Act, be governed or otherwise affected by the law of a foreign country.\n\n#### 33Q Authority to take steps necessary to carry out re‑organisation\n\n  The Authority must take such steps as are necessary to ensure that this Division is fully effective, particularly in relation to its operation outside Australia.\n\n  \n\n### Division 4—Transfer of staff\n\n#### 33R Determination of staff to be transferred to receiving subsidiary\n\n  The Chief Executive Officer may, in writing, determine that the employment of specified staff members is to be transferred to the receiving subsidiary on and from the day, or the respective days, specified in the determination.\n\n#### 33S Employment of nominated staff member to continue with receiving subsidiary\n\n  Subject to sections 33T and 33U, each nominated staff member who is a staff member immediately before his or her transfer day is, on and from the transfer day, taken to be employed by the receiving subsidiary on the terms and conditions on which he or she was employed by the Authority immediately before the transfer day.\n\n#### 33T Act not to affect certain matters relating to transferring staff members\n\n  (1) This section has effect for the purposes of the application, at any time on or after the transfer day of a transferring staff member, of a law, award, determination or agreement in relation to the employment of the transferring staff member.\n  (2) Neither the transferring staff member’s contract of employment, nor his or her period of employment, is taken to have been broken by the operation of this Part.\n  (3) Without limiting section 33S or subsection (2) of this section, this Part does not affect any accrued rights that the transferring staff member had immediately before the transfer day in relation to any kind of leave.\n  (4) Where, if a transferred staff member had, immediately before the transfer day, ceased to be employed by the Authority:\n    (a) it would have been necessary to take into account a period during which the transferring staff member was employed by the Authority or any other person to determine:\n    (i) an amount payable to the transferring staff member; or\n    (ii) a benefit to which the transferring staff member would have been entitled;\n    because of his or her so ceasing; and\n    (b) apart from this subsection, some or all of that period would not have to be taken into account as a period during which the staff member was employed by the receiving subsidiary;\n  the receiving subsidiary must treat the whole of the first‑mentioned period as a period during which the transferring staff member was employed by it.\n\n#### 33U Variation of terms and conditions of employment\n\n  (1) It is a term of each transferring staff member’s employment after his or her transfer day that the terms and conditions of that employment may be varied to the extent to which, and the manner in which, the terms and conditions of his or her employment could be varied under this Act immediately before the transfer day.\n  (2) This Part does not prevent the terms and conditions of a transferring staff member’s employment after his or her transfer day from being varied:\n    (a) in accordance with those terms and conditions; or\n    (b) by or under a law, award, determination or agreement.\n  (3) In this section:\n\n> terms and conditions includes a term or condition existing because of subsection (1).\n\n> vary, in relation to terms and conditions, includes vary by way of:\n\n    (a) omitting any of those terms and conditions; or\n    (b) adding to those terms and conditions; or\n    (c) substituting new terms or conditions for any of those terms and conditions.\n\n  \n\n### Division 5—Taxation matters\n\n#### 33V Exemptions relating to tax exempt matters\n\n  (1) Tax under a law of the Commonwealth or a State or Territory is not payable in relation to:\n    (a) a tax exempt matter; or\n    (b) anything done (including, for example, a transaction entered into or an instrument made, executed, lodged or given) because of, or for a purpose connected with or arising out of, a tax exempt matter.\n  (2) In subsection (1):\n\n> tax includes:\n\n    (a) sales tax; and\n    (b) stamp duty; and\n    (c) any other tax, fee, duty, levy or charge;\n  but does not include income tax imposed as such by a law of the Commonwealth or fees payable under the Corporations Act 2001.\n\n#### 33W Value of trading stock for income tax purposes\n\n  (1) For the purpose of ascertaining under Subdivision B of Division 2 of Part III of the Assessment Act the value of the receiving subsidiary’s trading stock on hand at the beginning of the year of income in which the re‑organisation day occurs:\n    (a) the receiving subsidiary is taken to have opted for market selling price; and\n    (b) the market selling price of petroleum transferred to the receiving subsidiary is taken to be the Authority’s market selling price of the petroleum assuming the petroleum were not transferred.\n  (2) Unless the contrary intention appears, expressions used in this section, and in Subdivision B of Division 2 of Part III of the Assessment Act, have the same respective meanings as in that Subdivision.\n\n#### 33X Capital gains tax—assets acquired on or after 20 September 1985\n\n  (1) This section applies in relation to an asset that:\n    (a) was acquired by the Authority on or after 20 September 1985; and\n    (b) is acquired by the receiving subsidiary on the re‑organisation day.\n  (2) For the purposes of calculating whether, under Part IIIA of the Assessment Act, a capital gain accrues to, or a capital loss is incurred by, the receiving subsidiary on the disposal of the asset by the subsidiary, the subsidiary is taken to have paid as consideration for the acquisition of the asset an amount calculated in accordance with this section.\n  (3) If it is necessary to determine whether a capital gain has accrued, the consideration paid by the subsidiary for the acquisition of the asset is to be taken to have been:\n    (a) if the market value of the asset on the re‑organisation day is greater than the amount that would have been the indexed cost base (indexed cost base) to the Authority for the purposes of Part IIIA of the Assessment Act if that Part had applied in respect of that disposal by the Authority to the receiving subsidiary—an amount equal to the market value of the asset; or\n    (b) in any other case—an amount equal to the amount that would have been the indexed cost base.\n  (4) Where it is necessary to determine whether a capital loss has been incurred, the consideration paid by the subsidiary for the acquisition of the asset is to be taken to have been:\n    (a) if the market value of the asset on the re‑organisation day is less than the amount that would have been the reduced cost base (reduced cost base) to the Authority for the purposes of Part IIIA of the Assessment Act if that Part had applied in respect of that disposal by the Authority to the receiving subsidiary—an amount equal to the market value of the asset; or\n    (b) in any other case—an amount equal to the amount that would have been the reduced cost base.\n  (5) If the transferred asset is disposed of by the receiving subsidiary within 12 months of its acquisition by the Authority, subsection (3) has effect as if the references in that subsection to the indexed cost base to the Authority in relation to the asset were references to the cost base to the Authority in relation to the asset.\n  (6) Unless the contrary intention appears, expressions used in this section and in Part IIIA of the Assessment Act have the same respective meanings as in that Part.\n\n#### 33Y Capital gains tax—assets acquired before 20 September 1985\n\n  (1) A transferred asset of the receiving subsidiary that was acquired by the Authority before 20 September 1985 is taken, for the purposes of Part IIIA of the Assessment Act, to have been acquired by the receiving subsidiary before that date.\n  (2) Unless the contrary intention appears, expressions used in this section and in Part IIIA of the Assessment Act have the same respective meanings as in that Part.\n\n#### 33Z Superannuation payments\n\n  For the purposes of section 82AAC of the Assessment Act, a payment made by the receiving subsidiary of the Authority to the Commonwealth under:\n    (a) the Superannuation Act 1976; or\n    (b) the Superannuation Act 1990;\n  is taken to be a contribution to a fund for the purpose mentioned in paragraph 82AAC(1)(a) of the Assessment Act, being a fund that is an eligible superannuation fund, within the meaning of Part IX of the Assessment Act, in relation to the year of income of the fund in which the payment is made.\n\n  \n\n### Division 6—Miscellaneous\n\n#### 33ZA Certificates in relation to land and interests in land\n\n  If:\n    (a) land or an interest in land becomes, under this Part, land or an interest in land of the receiving subsidiary; and\n    (b) a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the land or interest, whether by reference to a map or otherwise; and\n    (iii) states that the land or interest has, under this Part, become land or an interest in land of the receiving subsidiary;\n    is lodged with the Registrar‑General, Registrar of Titles or other proper officer of the State or Territory in which the land is situated;\n  the officer with whom the certificate is lodged may:\n    (c) deal with, and give effect to, the certificate as if it were a grant, conveyance, memorandum or instrument of transfer of the land (including all rights, title and interest in the land) or the interest in the land, as the case may be, to the receiving subsidiary that had been properly executed under the laws in force in the State or Territory; and\n    (d) make such entries in the register as are necessary having regard to the effect of section 33H.\n\n#### 33ZB Certificates in relation to other assets\n\n  If:\n    (a) an asset (other than an asset in relation to which section 33V, 33W, 33X or 33Y applies) becomes, under this Part, an asset of the receiving subsidiary; and\n    (b) a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the asset; and\n    (iii) states that the asset has, under this Part, become an asset of the receiving subsidiary;\n    is given to the person or authority who has, under the law of the Commonwealth or of a State or Territory, responsibility for keeping a register in relation to assets of that kind;\n  the person or authority may:\n    (c) deal with, and give effect to, the certificate as if the certificate were a proper and appropriate instrument for transactions in relation to assets of that kind; and\n    (d) make such entries in the register as are necessary having regard to the effect of section 33H.\n\n#### 33ZC Part to have effect in spite of laws and agreements prohibiting transfer etc.\n\n  (1) This Part has effect, and must be given effect to, in spite of anything in:\n    (a) any other law of the Commonwealth or any law of a State or Territory; or\n    (b) any contract, deed, undertaking, agreement or other instrument.\n  (2) No provision of this Part, and nothing done by a person because of, or for a purpose connected with or arising out of, this Part:\n    (a) is to be regarded as:\n    (i) placing the Authority, a subsidiary of the Authority or another person in breach of contract or confidence; or\n    (ii) otherwise making the Authority, a subsidiary of the Authority or another person guilty of a civil wrong; or\n    (b) is to be regarded as placing the Authority, a subsidiary of the Authority or another person in breach of:\n    (i) any law of the Commonwealth or of a State or Territory; or\n    (ii) any contractual provision prohibiting, restricting or regulating the assignment or transfer of any asset or liability or the disclosure of any information; or\n    (c) is to be taken to release any surety from any of the surety’s obligations.\n  (3) Without limiting subsection (1), if, apart from this section, the consent of a person would be necessary in order to give effect to this Part in a particular respect, the consent is taken to have been given.\n\n#### 33ZD Compensation for acquisition of property\n\n  (1) If, apart from this section, the operation of this Part would result in the acquisition of property from a person otherwise than on just terms, there is payable to the person by the Authority such reasonable amount of compensation as is agreed on between the person and the Authority or, failing agreement, as is determined by a court of competent jurisdiction.\n  (2) Any damages or compensation recovered, or other remedy given, in a proceeding instituted otherwise than under this section must be taken into account in assessing compensation payable in a proceeding instituted under this section and arising out of the same event or transaction.\n  (3) In this section, acquisition of property and just terms have the same respective meanings as in paragraph 51(xxxi) of the Constitution.\n\n  \n\n## Part VB—Transfer to Gorodok of easements of the Authority relating to the Moomba‑Botany Pipeline\n\n#### 33ZE Definitions\n\n  In this Part, unless the contrary intention appears:\n\n> authorised person means:\n\n    (a) the Minister; or\n    (b) a person authorised by the Minister, in writing, for the purposes of this Part.\n\n> easement includes a right in relation to land.\n\n> Gorodok means Gorodok Proprietary Limited (A.C.N. 057 156 751).\n\n> instrument includes a document.\n\n> Moomba‑Botany pipeline means the pipeline that, when constructed, will carry gas from Moomba in South Australia to Botany in New South Wales.\n\n> transfer day, in relation to a transferring interest, means the day specified in a notice under section 33ZF.\n\n> transferring interest means an easement specified in a notice under section 33ZF.\n\n#### 33ZF Specifying the easements etc. to be transferred to Gorodok and the transfer day\n\n  (1) An authorised person may, by notice in the Gazette, specify:\n    (a) an easement that relates to the Moomba‑Botany pipeline; and\n    (b) the transfer day for that easement.\n  (2) The authorised person may make and publish one or more notices under subsection (1).\n\n#### 33ZG Transfer to Gorodok of transferring interests of the Authority\n\n  By force of this section, each transferring interest of the Authority:\n    (a) ceases to be an asset of the Authority; and\n    (b) becomes an asset of Gorodok;\n  on the transfer day for the interest.\n\n#### 33ZH Instruments relating to the transferring interests of the Authority\n\n  (1) An authorised person may, by notice in the Gazette, on or before the transfer day for a particular transferring interest, specify an instrument that relates to the interest for the purposes of this section.\n  (2) An instrument specified in a notice under subsection (1) continues to have effect, on and after the transfer day for the transferring interest that relates to the instrument, as if a reference in the instrument to the Authority were a reference to Gorodok.\n\n#### 33ZJ Certificates in relation to interests in land\n\n  (1) This section applies if:\n    (a) an interest in land becomes an interest in land of Gorodok under this Part; and\n    (b) there is lodged with a land registration official a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the interest, whether by reference to a map or otherwise; and\n    (iii) states that the interest has become an interest in land of Gorodok under this Part.\n  (2) The land registration official may:\n    (a) register the matter in the same way in which dealings in in land of that kind are registered; and\n    (b) deal with, and give effect to, the certificate.\n  (3) A document that appears to be a certificate under subsection (1) is taken to be such a certificate and to have been properly given unless the contrary is established.\n  (4) In this section:\n\n> land registration official means the Registrar of Titles or other proper officer of the State in which the land concerned is situated.\n\n#### 33ZK Commonwealth and Authority to take steps necessary to carry out transfers\n\n  The Commonwealth and the Authority must take the steps that are necessary to ensure that this Part is fully effective.\n\n#### 33ZL Part to have effect in spite of laws prohibiting transfers\n\n  (1) This Part has effect, and must be given effect to, in spite of anything in:\n    (a) any law of the Commonwealth or any law of a State or Territory; or\n    (b) any instrument.\n  (2) Without limiting subsection (1), if the consent of a person is necessary in order to give effect to this Part in a particular respect, the consent is taken to have been given.","sortOrder":37},{"sectionNumber":"33R","sectionType":"section","heading":"Determination of staff to be transferred to receiving subsidiary","content":"#### 33R Determination of staff to be transferred to receiving subsidiary\n\n  The Chief Executive Officer may, in writing, determine that the employment of specified staff members is to be transferred to the receiving subsidiary on and from the day, or the respective days, specified in the determination.","sortOrder":38},{"sectionNumber":"33S","sectionType":"section","heading":"Employment of nominated staff member to continue with receiving subsidiary","content":"#### 33S Employment of nominated staff member to continue with receiving subsidiary\n\n  Subject to sections 33T and 33U, each nominated staff member who is a staff member immediately before his or her transfer day is, on and from the transfer day, taken to be employed by the receiving subsidiary on the terms and conditions on which he or she was employed by the Authority immediately before the transfer day.","sortOrder":39},{"sectionNumber":"33T","sectionType":"section","heading":"Act not to affect certain matters relating to transferring staff members","content":"#### 33T Act not to affect certain matters relating to transferring staff members\n\n  (1) This section has effect for the purposes of the application, at any time on or after the transfer day of a transferring staff member, of a law, award, determination or agreement in relation to the employment of the transferring staff member.\n  (2) Neither the transferring staff member’s contract of employment, nor his or her period of employment, is taken to have been broken by the operation of this Part.\n  (3) Without limiting section 33S or subsection (2) of this section, this Part does not affect any accrued rights that the transferring staff member had immediately before the transfer day in relation to any kind of leave.\n  (4) Where, if a transferred staff member had, immediately before the transfer day, ceased to be employed by the Authority:\n    (a) it would have been necessary to take into account a period during which the transferring staff member was employed by the Authority or any other person to determine:\n    (i) an amount payable to the transferring staff member; or\n    (ii) a benefit to which the transferring staff member would have been entitled;\n    because of his or her so ceasing; and\n    (b) apart from this subsection, some or all of that period would not have to be taken into account as a period during which the staff member was employed by the receiving subsidiary;\n  the receiving subsidiary must treat the whole of the first‑mentioned period as a period during which the transferring staff member was employed by it.","sortOrder":40},{"sectionNumber":"33U","sectionType":"section","heading":"Variation of terms and conditions of employment","content":"#### 33U Variation of terms and conditions of employment\n\n  (1) It is a term of each transferring staff member’s employment after his or her transfer day that the terms and conditions of that employment may be varied to the extent to which, and the manner in which, the terms and conditions of his or her employment could be varied under this Act immediately before the transfer day.\n  (2) This Part does not prevent the terms and conditions of a transferring staff member’s employment after his or her transfer day from being varied:\n    (a) in accordance with those terms and conditions; or\n    (b) by or under a law, award, determination or agreement.\n  (3) In this section:\n\n> terms and conditions includes a term or condition existing because of subsection (1).\n\n> vary, in relation to terms and conditions, includes vary by way of:\n\n    (a) omitting any of those terms and conditions; or\n    (b) adding to those terms and conditions; or\n    (c) substituting new terms or conditions for any of those terms and conditions.","sortOrder":41},{"sectionNumber":"Division 5","sectionType":"division","heading":"Taxation matters","content":"An Act to establish a Pipeline Authority\n\n## Part I—Preliminary\n\n#### 1 Short title \\[see Note 1\\]\n\n  This Act may be cited as the Pipeline Authority Act 1973.\n\n#### 2 Commencement \\[see Note 1\\]\n\n  This Act shall come into operation on a date to be fixed by Proclamation.\n\n#### 3 Interpretation\n\n  (1) In this Act a reference to the Authority is a reference to the Pipeline Authority as it was established by this Act before the repeal day.\n  (2) In this section:\n\n> repeal day has the same meaning as in Part 8 of the Moomba‑Sydney Pipeline System Sale Act 1994.\n\n  \n\n## Part V—Finance\n\n#### 25A Borrowings otherwise than from Commonwealth\n\n  (1) The Authority may, with the approval of the Treasurer:\n    (a) borrow money otherwise than from the Commonwealth; or\n    (b) raise money otherwise than by borrowing;\n  on terms and conditions that are specified in, or consistent with, the approval.\n  (2) Without limiting the generality of subsection (1), the Authority may, under that subsection, borrow money, or raise money otherwise than by borrowing, by dealing with securities.\n  (3) A borrowing of money, or a raising of money otherwise than by borrowing, under subsection (1) may be made, in whole or in part, in a currency other than Australian currency.\n  (4) An approval may be given under subsection (1) in relation to a particular transaction or in relation to transactions included in a class of transactions.\n  (5) An approval under subsection (1) shall be given in writing.\n  (6) For the purposes of this section:\n    (a) the issue by the Authority of an instrument acknowledging a debt in consideration of:\n    (i) the payment or deposit of money; or\n    (ii) the provision of credit;\n    otherwise than in relation to a transaction that is in the ordinary course of the day‑to‑day operations of the Authority shall be deemed to be a raising by the Authority, otherwise than by borrowing, of an amount of money equal to the amount of the money paid or deposited or the value of the credit provided, as the case may be; and\n    (b) the obtaining of credit by the Authority otherwise than in relation to a transaction that is in the ordinary course of the day‑to‑day operations of the Authority shall be deemed to be a raising by the Authority, otherwise than by borrowing, of an amount of money equal to the value of the credit so obtained.\n\n#### 25B Guarantee of borrowings by Authority\n\n  (1) The Treasurer may, on behalf of the Commonwealth, enter into a contract:\n    (a) guaranteeing the repayment by the Authority of money borrowed under paragraph 25A(1)(a) and the payment by the Authority of interest (including any interest on that interest) on money so borrowed; or\n    (b) guaranteeing the payment by the Authority of such amounts (which may be interest) that the Authority is liable to pay with respect to money raised under paragraph 25A(1)(b) as are specified in the contract.\n  (2) The Treasurer may, in writing, determine:\n    (a) that the repayment by the Authority of money borrowed under paragraph 25A(1)(a), and the payment by the Authority of interest (including any interest on that interest) on money so borrowed, are guaranteed by the Commonwealth; or\n    (b) that the payment by the Authority of such money (which may be interest) that the Authority is liable to pay with respect to money raised under paragraph 25A(1)(b) as is specified in the determination is guaranteed by the Commonwealth;\n  and, where the Treasurer makes such a determination, the repayment of that money and the payment of that interest are, or the payment of that money is, by force of this subsection, guaranteed by the Commonwealth.\n  (3) A contract may be entered into under subsection (1), and a determination may be made under subsection (2), in relation to a particular transaction or in relation to transactions included in a class of transactions.\n  (4) A contract entered into under subsection (1) may include either or both of the following provisions:\n    (a) a provision agreeing, on behalf of the Commonwealth, that proceedings under the contract may be taken in the courts, or a specified court, of a country other than Australia;\n    (b) a provision waiving, on behalf of the Commonwealth, the immunity of the Commonwealth from suit in the courts, or a specified court, of a country other than Australia in relation to any proceedings that may be taken under the contract.\n\n#### 25C Authority may give security\n\n  The Authority may give security over the whole or any part of its land or other assets for:\n    (a) the repayment by the Authority of money borrowed by the Authority under section 25 or paragraph 25A(1)(a) and the payment by the Authority of interest (including any interest on that interest) on money so borrowed;\n    (b) the payment by the Authority of amounts (including any interest) that the Authority is liable to pay with respect to money raised by the Authority under paragraph 25A(1)(b); or\n    (c) the payment to the Commonwealth of amounts equal to any amounts that the Commonwealth may become liable to pay under a contract entered into under subsection 25B(1) or a determination made under subsection 25B(2).\n\n#### 25D Borrowings not otherwise permitted\n\n  The Authority shall not borrow money, or raise money otherwise than by borrowing, except in accordance with sections 25 and 25A.\n\n#### 25E Delegation by Treasurer\n\n  (1) The Treasurer may, either generally or as otherwise provided by the instrument of delegation, by writing signed by the Treasurer, delegate to a person holding or performing the duties of an office in the Department of the Treasury all or any of the powers of the Treasurer under sections 25A and 25B.\n  (2) A power so delegated, when exercised by the delegate, shall, for the purposes of this Part, be deemed to have been exercised by the Treasurer.\n  (3) A delegate is, in the exercise of a power so delegated, subject to the directions of the Treasurer.\n  (4) A delegation under subsection (1) does not prevent the exercise of a power by the Treasurer.\n\n#### 26 Bank accounts\n\n  (1) The Authority may open and maintain an account or accounts with an approved bank or approved banks and shall maintain at all times at least one such account.\n  (2) The Authority shall pay all moneys of the Authority, including moneys borrowed by the Authority, into an account referred to in this section.\n\n#### 27 Application of moneys\n\n  (1) The moneys of the Authority may be applied by the Authority:\n    (a) in payment or discharge of the costs, expenses and other obligations of the Authority under this Act; and\n    (b) in payment of remuneration and allowances payable to any person under this Act;\n  but not otherwise.\n  (2) Moneys of the Authority not immediately required for the purposes of the Authority may be invested:\n    (a) on deposit with an approved bank;\n    (b) in securities of the Commonwealth; or\n    (c) in any other manner approved by the Treasurer.\n\n#### 28 Financial policy\n\n  (1) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is commenced by the Authority; and\n    (b) the Authority continues to operate and maintain any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) the construction of the pipeline; and\n    (d) the operation and maintenance of the transferred pipelines; and\n    (e) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (f) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (2) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is not commenced by the Authority; and\n    (b) the Authority continues to operate and maintain any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) the operation and maintenance of the transferred pipelines; and\n    (d) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (e) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (3) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is not commenced by the Authority; and\n    (b) the Authority does not continue to operate any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (d) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (4) In this section:\n\n> Sale Act means the Moomba‑Sydney Pipeline System Sale Act 1994.\n\n> sale day has the same meaning as in the Sale Act.\n\n> transferred pipeline means a pipeline that ceases to be an asset of the Authority because of the Sale Act.\n\n#### 28A Estimates\n\n  The Authority shall prepare estimates, in such form as the Minister directs, of its receipts and expenditure for each financial year and, if so directed by the Minister, for any other period, and shall submit those estimates to the Minister not later than such date as the Minister directs.\n\n#### 30 Profits of the Authority\n\n  (1) For the purposes of this Act, the profits of the Authority for a financial year are the amount, if any, remaining after deducting from the revenue received or receivable in respect of that financial year the expenditure, and provision for expenditure, properly chargeable against that revenue.\n  (2) Subject to section 30A, the profits of the Authority for a financial year shall be applied in such manner as the Minister, with the concurrence of the Minister for Finance determines.\n  (3) In making a determination under subsection (2), regard shall be had to any advice which the Authority has furnished to the Minister in relation to the financial affairs of the Authority.\n\n#### 30A Authority to pay dividends from subsidiaries to Commonwealth\n\n  The Authority must pay to the Commonwealth amounts of dividends received by the Authority from subsidiary companies other than such amounts as are specified by the Minister in a written notice given to the Authority.\n\n#### 31 Proper accounts to be kept\n\n  The Authority shall cause to be kept proper accounts and records of the transactions and affairs of the Authority in accordance with the accounting principles generally applied in commercial practice and shall do all things necessary to ensure that all payments out of its moneys are correctly made and properly authorized and that adequate control is maintained over the assets of, or in the custody of, the Authority and over the incurring of liabilities by the Authority.\n\n#### 32 Audit\n\n  (1) The Auditor‑General shall inspect and audit the accounts and records of financial transactions of the Authority and records relating to assets of, or in the custody of, the Authority and shall forthwith draw the attention of the Minister to any irregularity disclosed by the inspection and audit that is, in the opinion of the Auditor‑General, of sufficient importance to justify his or her doing so.\n  (2) The Auditor‑General may, in his or her discretion, dispense with all or any part of the detailed inspection and audit of any accounts or records referred to in subsection (1).\n  (3) The Auditor‑General shall, at least once in each year, report to the Minister the results of the inspection and audit carried out under subsection (1).\n  (4) The Auditor‑General or an officer authorized by the Auditor‑General is entitled at all reasonable times to full and free access to all accounts, records, documents and papers of the Authority relating directly or indirectly to the receipt or payment of moneys by the Authority or to the acquisition, receipt, custody or disposal of assets by the Authority.\n  (5) The Auditor‑General or an officer authorized by the Auditor‑General may make copies of, or take extracts from, any such accounts, records, documents or papers.\n  (6) The Auditor‑General or an officer authorized by the Auditor‑General may require any person to furnish him or her with such information in the possession of the person or to which the person has access as the Auditor‑General or authorized officer considers necessary for the purposes of the functions of the Auditor‑General under this Act, and the person shall comply with the requirement.\n  (7) A person who contravenes subsection (6) is guilty of an offence punishable, upon conviction, by a fine not exceeding $200.\n\n#### 33 Liability to taxation\n\n  (1) Subject to subsection (2A), the Authority is subject to taxation (other than income tax) under the laws of the Commonwealth.\n  (2) Subject to subsection (3), the Authority is not subject to taxation under a law of a State or of a Territory.\n  (2A) Where the Treasurer so determines by notice published in the Gazette, stamp duty, or any similar tax, is not payable by the Authority or any other person under a law of the Commonwealth or of a State or Territory in respect of:\n    (a) a security dealt with by the Authority;\n    (b) the issue, redemption, transfer, sale, purchase, re‑sale, acquisition or discounting of such a security by the Authority or any other person, not including a transaction done without consideration or for an inadequate consideration;\n    (c) any other transaction done for the purposes of a borrowing or other raising of moneys by the Authority; or\n    (d) any other document executed by or on behalf of the Authority for the purposes of a borrowing or other raising of moneys by the Authority.\n  (2B) The power conferred on the Treasurer by subsection (2A) to make a determination extends to the making of a determination in respect of securities included in a specified class or specified classes of securities and in respect of documents or transactions included in a specified class or specified classes of documents or transactions.\n  (3) Subject to subsection (2A), the regulations may provide that subsection (2) does not apply in relation to taxation under a specified law of a State or Territory.\n\n#### 33A Liability of subsidiary to taxation\n\n  (1) Subject to Division 5 of Part VA, a subsidiary company is subject to taxation under the laws of the Commonwealth and a State or Territory.\n  (2) A subsidiary company is not a public authority for the purposes of paragraph 23(d) of the Income Tax Assessment Act 1936.\n\n  \n\n## Part VA—Re‑organisation of the Business of the Authority\n\n### Division 1—Interpretation\n\n#### 33C Interpretation\n\n  In this Part, unless the contrary intention appears:\n\n> Assessment Act means the Income Tax Assessment Act 1936.\n\n> asset means property of any kind, and includes:\n\n    (a) any legal or equitable estate or interest (whether present or future, vested or contingent, tangible or intangible) in real or personal property of any description; and\n    (b) any chose in action; and\n    (c) any right, interest or claim of any kind in or in relation to property (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing).\n\n> authorised person means the Minister or a person authorised, in writing, by the Minister for the purposes of this Part.\n\n> delivery point means any point on a pipeline where petroleum is delivered by the Authority to a person.\n\n> instrument means an instrument of any kind, and includes:\n\n    (a) any contract, deed, undertaking or agreement; and\n    (b) any mandate, instruction, notice, authority or order; and\n    (c) any lease, licence, transfer, conveyance or other assurance; and\n    (d) any guarantee, bond, power of attorney, bill of lading, negotiable instrument or order for the payment of money; and\n    (e) any mortgage, charge, lien or security;\n  whether express or implied and whether made or given orally or in writing.\n\n> instrument to which this Part applies means an instrument:\n\n    (a) to which the Authority is a party; or\n    (b) that was given to, by or in favour of the Authority; or\n    (c) in which a reference is made to the Authority; or\n    (d) under which any money is or may become payable, or any other property is to be, or may become liable to be, transferred, conveyed or assigned, to or by the Authority.\n\n> interest in relation to land, means:\n\n    (a) a legal or equitable estate or interest in land; or\n    (b) a right, power or privilege over, or in relation to, the land.\n\n> liability means a liability of any kind, and includes an obligation of any kind (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing).\n\n> Lithgow pipeline means the Authority’s pipeline originating at a point on the Moomba Sydney pipeline near Young in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Orange;\n    (b) Bathurst;\n    (c) Blayney;\n    (d) Lithgow.\n\n> Moomba means Moomba in South Australia.\n\n> Moomba‑Sydney pipeline means the Authority’s pipeline from Moomba to the delivery point at Wilton in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Bowral;\n    (b) Goulburn;\n    (c) Marulan;\n    (d) Moss Vale.\n\n> Moomba‑Sydney pipeline system means the pipeline system consisting of the following pipelines:\n\n    (a) the Moomba‑Sydney pipeline;\n    (b) the Lithgow pipeline;\n    (c) the Wagga pipeline.\n\n> nominated staff member means a person to whom a determination under section 33R applies.\n\n> non‑transferring asset means:\n\n    (a) the Moomba‑Sydney pipeline system; and\n    (b) any interests in relation to the land on or under which the pipelines for the Moomba‑Sydney pipeline system are constructed; and\n    (c) any other asset that does not become, under this Part, an asset of the receiving subsidiary.\n\n> non‑transferring instrument means an instrument to which this Part applies that does not become, under this Part, an instrument of the receiving subsidiary.\n\n> non‑transferring liability means a liability that does not become, under this Part, a liability of the receiving subsidiary.\n\n> proceeding to which this Part applies means a proceeding to which the Authority is a party, other than a proceeding that does not relate to the transferred business.\n\n> re‑organisation day means the day fixed under section 33D.\n\n> share means a share in the share capital of a company, and includes stock.\n\n> staff member means a person who is an officer or employee of the Authority.\n\n> tax exempt matter means:\n\n    (a) the nomination of the receiving subsidiary under section 33E; and\n    (b) the making of a determination under section 33F; and\n    (c) business of the Authority ceasing, under this Part, to be business of the Authority and becoming business of the receiving subsidiary; and\n    (d) the issue of shares under section 33M; and\n    (e) the operation of this Part in any other respect; and\n    (f) giving effect to a matter referred to in another paragraph of this definition or otherwise giving effect to this Part.\n\n> transfer day, in relation to a nominated staff member, means the day applicable to the staff member in the determination under section 33R that is applicable to the staff member.\n\n> transferring asset means an asset other than:\n\n    (a) the Moomba‑Sydney pipeline system; and\n    (b) any interests in relation to the land on or under which the pipelines for the Moomba‑Sydney pipeline system are constructed;\n  to which a determination under paragraph 33F(1)(a) applies.\n\n> transferring business means the business that becomes, under this Part, business of the receiving subsidiary; and\n\n> transferring instrument means an instrument (other than an instrument relating to the Moomba‑Sydney pipeline system) to which a determination under paragraph 33F(1)(c) applies.\n\n> transferring liability means a liability (other than a liability relating to the Moomba‑Sydney pipeline system) to which a determination under paragraph 33F(1)(b) applies.\n\n> transferring staff member means a staff member who, under this Part, becomes employed by the receiving subsidiary.\n\n> Wagga pipeline means the Authority’s pipeline originating at a point on the Moomba‑Sydney pipeline near Young in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Cootamundra;\n    (b) Junee;\n    (c) Wagga Wagga;\n    (d) Young.\n\n> wholly‑owned subsidiary, in relation to the Authority, means a body corporate:\n\n    (a) that has been formed by the Authority; and\n    (b) that is a subsidiary of the Authority; and\n    (c) none of whose members is a person other than:\n    (i) the Authority; or\n    (ii) a body corporate that is, under any other applications of this definition, a wholly‑owned subsidiary of the Authority; or\n    (iii) a nominee of the Authority or of a body of the kind referred to in subparagraph (ii); and\n    (d) no share in which is beneficially owned by a person other than:\n    (i) the Authority; or\n    (ii) a body of the kind referred to in subparagraph (c)(ii).\n\n  \n\n### Division 2—Steps leading to re‑organisation\n\n#### 33D Fixing the day on which re‑organisation is to take place—the re‑organisation day\n\n  The Minister may, by notice in the Gazette , fix a day as the day on which the re‑organisation under this Part is to take place.\n\n#### 33E Nomination of subsidiary to which business is to be transferred—the receiving subsidiary\n\n  (1) Subject to subsection (2), the Minister must, before the re‑organisation day, by notice in the Gazette, nominate a subsidiary of the Authority as the receiving subsidiary for the purposes of this Part.\n  (2) The Minister must not nominate a subsidiary under subsection (1) unless the subsidiary is:\n    (a) a company incorporated under the Corporations Act 2001; and\n    (b) a wholly‑owned subsidiary; and\n    (c) a trading corporation within the meaning of paragraph 51(xx) of the Constitution.\n  (3) If a subsidiary nominated under subsection (1) ceases, on or before the re‑organisation day, to be a subsidiary of the Authority of the kind described in subsection (2), the Minister must revoke the nomination.\n  (4) For all purposes, and in all proceedings, relating to this Act, proof of the fact that a body corporate was nominated under subsection (1) is to be taken:\n    (a) to have been, on the day of the nomination, a subsidiary of the Authority of the kind described in subsection (2); and\n    (b) at all times thereafter until the re‑organisation day, to have continued to be such a subsidiary.\n\n#### 33F Determination of assets, instruments and liabilities to be transferred etc.—the transferring assets, instruments and liabilities\n\n  (1) The Minister may, by notice in the Gazette:\n    (a) declare a specified asset of the Authority to be a transferring asset; or\n    (b) declare a specified liability of the Authority to be a transferring liability; or\n    (c) declare a specified instrument to which this Part applies to be a transferring instrument.\n  (2) A declaration under subsection (1) may only be made before the re‑organisation day.\n\n  \n\n### Division 3—The re‑organisation\n\n#### 33G Transferred business of Authority becomes business of receiving subsidiary\n\n  On the re‑organisation day, the transferred business of the Authority ceases, by force of this section, to be business of the Authority and becomes business of the receiving subsidiary.\n\n#### 33H Transferring assets and transferring liabilities of Authority become assets and liabilities of receiving subsidiary\n\n  Without limiting section 33G, on the re‑organisation day, all transferring assets and transferring liabilities of the Authority cease to be assets and liabilities of the Authority and become assets and liabilities of the receiving subsidiary.\n\n#### 33J Instruments\n\n  (1) Without limiting section 33G, an instrument to which this Part applies continues, subject to subsection (2), in full force and effect on and after the re‑organisation day.\n  (2) A transferring instrument has effect, in relation to acts, transactions and matters done, entered into or occurring on or after the re‑ organisation day, as if a reference in the instrument to the Authority were a reference to the receiving subsidiary.\n\n#### 33K Pending proceedings\n\n  Without limiting section 33G, if a proceeding to which this Part applies is, immediately before the re‑organisation day, pending in a court, the receiving subsidiary is, on that day, substituted for the Authority as a party.\n\n#### 33L Valuation of transferring business\n\n  (1) The Minister must, by written notice given to the Authority and the receiving subsidiary not later than 7 days after the re‑organisation day, determine:\n    (a) the market value of each transferring asset on the re‑organisation day; and\n    (b) the amount of each transferring liability on that day.\n  (2) The net value of the transferring assets on the re‑organisation day is the amount worked out by subtracting the total amount of the transferring liabilities from the total market value of the transferring assets on that day.\n  (3) For all purposes and in all proceedings, the net value of the transferring business is taken to be the amount determined under subsection (2) as the net value of the transferring assets on that day.\n\n#### 33M Issue of shares in receiving subsidiary to Authority in relation to transferring business\n\n  (1) On the day on which the receiving subsidiary is given the notice under subsection 33L(1), the receiving subsidiary must, subject to subsection (2), issue shares in the receiving subsidiary to the Authority.\n  (2) The shares issued to the Authority are taken to have been fully paid up and to have been issued for valuable consideration.\n\n#### 33N Authorised person may certify matters in relation to re‑organisation\n\n  (1) An authorised person may, by signed writing, certify any matter in relation to the operation of this Division and, in particular, may certify:\n    (a) whether specified assets are or are not transferring assets or non‑transferring assets; and\n    (b) whether specified liabilities are or are not transferring liabilities or non‑transferring liabilities; and\n    (c) whether specified instruments are or are not non‑transferring instruments or other instruments to which this Part applies.\n  (2) A document purporting to be a certificate under subsection (1) is, unless the contrary intention is established, taken to be such a certificate and to have been properly given.\n\n#### 33P Extraterritorial operation of Division\n\n  It is the intention of the Parliament that this Division should apply, to the greatest extent possible, in relation to:\n    (a) things situated outside Australia; and\n    (b) acts, transactions and matters done, entered into or occurring outside Australia; and\n    (c) things, acts, transactions and matters (wherever situated, done, entered into or occurring) that would, apart from this Act, be governed or otherwise affected by the law of a foreign country.\n\n#### 33Q Authority to take steps necessary to carry out re‑organisation\n\n  The Authority must take such steps as are necessary to ensure that this Division is fully effective, particularly in relation to its operation outside Australia.\n\n  \n\n### Division 4—Transfer of staff\n\n#### 33R Determination of staff to be transferred to receiving subsidiary\n\n  The Chief Executive Officer may, in writing, determine that the employment of specified staff members is to be transferred to the receiving subsidiary on and from the day, or the respective days, specified in the determination.\n\n#### 33S Employment of nominated staff member to continue with receiving subsidiary\n\n  Subject to sections 33T and 33U, each nominated staff member who is a staff member immediately before his or her transfer day is, on and from the transfer day, taken to be employed by the receiving subsidiary on the terms and conditions on which he or she was employed by the Authority immediately before the transfer day.\n\n#### 33T Act not to affect certain matters relating to transferring staff members\n\n  (1) This section has effect for the purposes of the application, at any time on or after the transfer day of a transferring staff member, of a law, award, determination or agreement in relation to the employment of the transferring staff member.\n  (2) Neither the transferring staff member’s contract of employment, nor his or her period of employment, is taken to have been broken by the operation of this Part.\n  (3) Without limiting section 33S or subsection (2) of this section, this Part does not affect any accrued rights that the transferring staff member had immediately before the transfer day in relation to any kind of leave.\n  (4) Where, if a transferred staff member had, immediately before the transfer day, ceased to be employed by the Authority:\n    (a) it would have been necessary to take into account a period during which the transferring staff member was employed by the Authority or any other person to determine:\n    (i) an amount payable to the transferring staff member; or\n    (ii) a benefit to which the transferring staff member would have been entitled;\n    because of his or her so ceasing; and\n    (b) apart from this subsection, some or all of that period would not have to be taken into account as a period during which the staff member was employed by the receiving subsidiary;\n  the receiving subsidiary must treat the whole of the first‑mentioned period as a period during which the transferring staff member was employed by it.\n\n#### 33U Variation of terms and conditions of employment\n\n  (1) It is a term of each transferring staff member’s employment after his or her transfer day that the terms and conditions of that employment may be varied to the extent to which, and the manner in which, the terms and conditions of his or her employment could be varied under this Act immediately before the transfer day.\n  (2) This Part does not prevent the terms and conditions of a transferring staff member’s employment after his or her transfer day from being varied:\n    (a) in accordance with those terms and conditions; or\n    (b) by or under a law, award, determination or agreement.\n  (3) In this section:\n\n> terms and conditions includes a term or condition existing because of subsection (1).\n\n> vary, in relation to terms and conditions, includes vary by way of:\n\n    (a) omitting any of those terms and conditions; or\n    (b) adding to those terms and conditions; or\n    (c) substituting new terms or conditions for any of those terms and conditions.\n\n  \n\n### Division 5—Taxation matters\n\n#### 33V Exemptions relating to tax exempt matters\n\n  (1) Tax under a law of the Commonwealth or a State or Territory is not payable in relation to:\n    (a) a tax exempt matter; or\n    (b) anything done (including, for example, a transaction entered into or an instrument made, executed, lodged or given) because of, or for a purpose connected with or arising out of, a tax exempt matter.\n  (2) In subsection (1):\n\n> tax includes:\n\n    (a) sales tax; and\n    (b) stamp duty; and\n    (c) any other tax, fee, duty, levy or charge;\n  but does not include income tax imposed as such by a law of the Commonwealth or fees payable under the Corporations Act 2001.\n\n#### 33W Value of trading stock for income tax purposes\n\n  (1) For the purpose of ascertaining under Subdivision B of Division 2 of Part III of the Assessment Act the value of the receiving subsidiary’s trading stock on hand at the beginning of the year of income in which the re‑organisation day occurs:\n    (a) the receiving subsidiary is taken to have opted for market selling price; and\n    (b) the market selling price of petroleum transferred to the receiving subsidiary is taken to be the Authority’s market selling price of the petroleum assuming the petroleum were not transferred.\n  (2) Unless the contrary intention appears, expressions used in this section, and in Subdivision B of Division 2 of Part III of the Assessment Act, have the same respective meanings as in that Subdivision.\n\n#### 33X Capital gains tax—assets acquired on or after 20 September 1985\n\n  (1) This section applies in relation to an asset that:\n    (a) was acquired by the Authority on or after 20 September 1985; and\n    (b) is acquired by the receiving subsidiary on the re‑organisation day.\n  (2) For the purposes of calculating whether, under Part IIIA of the Assessment Act, a capital gain accrues to, or a capital loss is incurred by, the receiving subsidiary on the disposal of the asset by the subsidiary, the subsidiary is taken to have paid as consideration for the acquisition of the asset an amount calculated in accordance with this section.\n  (3) If it is necessary to determine whether a capital gain has accrued, the consideration paid by the subsidiary for the acquisition of the asset is to be taken to have been:\n    (a) if the market value of the asset on the re‑organisation day is greater than the amount that would have been the indexed cost base (indexed cost base) to the Authority for the purposes of Part IIIA of the Assessment Act if that Part had applied in respect of that disposal by the Authority to the receiving subsidiary—an amount equal to the market value of the asset; or\n    (b) in any other case—an amount equal to the amount that would have been the indexed cost base.\n  (4) Where it is necessary to determine whether a capital loss has been incurred, the consideration paid by the subsidiary for the acquisition of the asset is to be taken to have been:\n    (a) if the market value of the asset on the re‑organisation day is less than the amount that would have been the reduced cost base (reduced cost base) to the Authority for the purposes of Part IIIA of the Assessment Act if that Part had applied in respect of that disposal by the Authority to the receiving subsidiary—an amount equal to the market value of the asset; or\n    (b) in any other case—an amount equal to the amount that would have been the reduced cost base.\n  (5) If the transferred asset is disposed of by the receiving subsidiary within 12 months of its acquisition by the Authority, subsection (3) has effect as if the references in that subsection to the indexed cost base to the Authority in relation to the asset were references to the cost base to the Authority in relation to the asset.\n  (6) Unless the contrary intention appears, expressions used in this section and in Part IIIA of the Assessment Act have the same respective meanings as in that Part.\n\n#### 33Y Capital gains tax—assets acquired before 20 September 1985\n\n  (1) A transferred asset of the receiving subsidiary that was acquired by the Authority before 20 September 1985 is taken, for the purposes of Part IIIA of the Assessment Act, to have been acquired by the receiving subsidiary before that date.\n  (2) Unless the contrary intention appears, expressions used in this section and in Part IIIA of the Assessment Act have the same respective meanings as in that Part.\n\n#### 33Z Superannuation payments\n\n  For the purposes of section 82AAC of the Assessment Act, a payment made by the receiving subsidiary of the Authority to the Commonwealth under:\n    (a) the Superannuation Act 1976; or\n    (b) the Superannuation Act 1990;\n  is taken to be a contribution to a fund for the purpose mentioned in paragraph 82AAC(1)(a) of the Assessment Act, being a fund that is an eligible superannuation fund, within the meaning of Part IX of the Assessment Act, in relation to the year of income of the fund in which the payment is made.\n\n  \n\n### Division 6—Miscellaneous\n\n#### 33ZA Certificates in relation to land and interests in land\n\n  If:\n    (a) land or an interest in land becomes, under this Part, land or an interest in land of the receiving subsidiary; and\n    (b) a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the land or interest, whether by reference to a map or otherwise; and\n    (iii) states that the land or interest has, under this Part, become land or an interest in land of the receiving subsidiary;\n    is lodged with the Registrar‑General, Registrar of Titles or other proper officer of the State or Territory in which the land is situated;\n  the officer with whom the certificate is lodged may:\n    (c) deal with, and give effect to, the certificate as if it were a grant, conveyance, memorandum or instrument of transfer of the land (including all rights, title and interest in the land) or the interest in the land, as the case may be, to the receiving subsidiary that had been properly executed under the laws in force in the State or Territory; and\n    (d) make such entries in the register as are necessary having regard to the effect of section 33H.\n\n#### 33ZB Certificates in relation to other assets\n\n  If:\n    (a) an asset (other than an asset in relation to which section 33V, 33W, 33X or 33Y applies) becomes, under this Part, an asset of the receiving subsidiary; and\n    (b) a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the asset; and\n    (iii) states that the asset has, under this Part, become an asset of the receiving subsidiary;\n    is given to the person or authority who has, under the law of the Commonwealth or of a State or Territory, responsibility for keeping a register in relation to assets of that kind;\n  the person or authority may:\n    (c) deal with, and give effect to, the certificate as if the certificate were a proper and appropriate instrument for transactions in relation to assets of that kind; and\n    (d) make such entries in the register as are necessary having regard to the effect of section 33H.\n\n#### 33ZC Part to have effect in spite of laws and agreements prohibiting transfer etc.\n\n  (1) This Part has effect, and must be given effect to, in spite of anything in:\n    (a) any other law of the Commonwealth or any law of a State or Territory; or\n    (b) any contract, deed, undertaking, agreement or other instrument.\n  (2) No provision of this Part, and nothing done by a person because of, or for a purpose connected with or arising out of, this Part:\n    (a) is to be regarded as:\n    (i) placing the Authority, a subsidiary of the Authority or another person in breach of contract or confidence; or\n    (ii) otherwise making the Authority, a subsidiary of the Authority or another person guilty of a civil wrong; or\n    (b) is to be regarded as placing the Authority, a subsidiary of the Authority or another person in breach of:\n    (i) any law of the Commonwealth or of a State or Territory; or\n    (ii) any contractual provision prohibiting, restricting or regulating the assignment or transfer of any asset or liability or the disclosure of any information; or\n    (c) is to be taken to release any surety from any of the surety’s obligations.\n  (3) Without limiting subsection (1), if, apart from this section, the consent of a person would be necessary in order to give effect to this Part in a particular respect, the consent is taken to have been given.\n\n#### 33ZD Compensation for acquisition of property\n\n  (1) If, apart from this section, the operation of this Part would result in the acquisition of property from a person otherwise than on just terms, there is payable to the person by the Authority such reasonable amount of compensation as is agreed on between the person and the Authority or, failing agreement, as is determined by a court of competent jurisdiction.\n  (2) Any damages or compensation recovered, or other remedy given, in a proceeding instituted otherwise than under this section must be taken into account in assessing compensation payable in a proceeding instituted under this section and arising out of the same event or transaction.\n  (3) In this section, acquisition of property and just terms have the same respective meanings as in paragraph 51(xxxi) of the Constitution.\n\n  \n\n## Part VB—Transfer to Gorodok of easements of the Authority relating to the Moomba‑Botany Pipeline\n\n#### 33ZE Definitions\n\n  In this Part, unless the contrary intention appears:\n\n> authorised person means:\n\n    (a) the Minister; or\n    (b) a person authorised by the Minister, in writing, for the purposes of this Part.\n\n> easement includes a right in relation to land.\n\n> Gorodok means Gorodok Proprietary Limited (A.C.N. 057 156 751).\n\n> instrument includes a document.\n\n> Moomba‑Botany pipeline means the pipeline that, when constructed, will carry gas from Moomba in South Australia to Botany in New South Wales.\n\n> transfer day, in relation to a transferring interest, means the day specified in a notice under section 33ZF.\n\n> transferring interest means an easement specified in a notice under section 33ZF.\n\n#### 33ZF Specifying the easements etc. to be transferred to Gorodok and the transfer day\n\n  (1) An authorised person may, by notice in the Gazette, specify:\n    (a) an easement that relates to the Moomba‑Botany pipeline; and\n    (b) the transfer day for that easement.\n  (2) The authorised person may make and publish one or more notices under subsection (1).\n\n#### 33ZG Transfer to Gorodok of transferring interests of the Authority\n\n  By force of this section, each transferring interest of the Authority:\n    (a) ceases to be an asset of the Authority; and\n    (b) becomes an asset of Gorodok;\n  on the transfer day for the interest.\n\n#### 33ZH Instruments relating to the transferring interests of the Authority\n\n  (1) An authorised person may, by notice in the Gazette, on or before the transfer day for a particular transferring interest, specify an instrument that relates to the interest for the purposes of this section.\n  (2) An instrument specified in a notice under subsection (1) continues to have effect, on and after the transfer day for the transferring interest that relates to the instrument, as if a reference in the instrument to the Authority were a reference to Gorodok.\n\n#### 33ZJ Certificates in relation to interests in land\n\n  (1) This section applies if:\n    (a) an interest in land becomes an interest in land of Gorodok under this Part; and\n    (b) there is lodged with a land registration official a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the interest, whether by reference to a map or otherwise; and\n    (iii) states that the interest has become an interest in land of Gorodok under this Part.\n  (2) The land registration official may:\n    (a) register the matter in the same way in which dealings in in land of that kind are registered; and\n    (b) deal with, and give effect to, the certificate.\n  (3) A document that appears to be a certificate under subsection (1) is taken to be such a certificate and to have been properly given unless the contrary is established.\n  (4) In this section:\n\n> land registration official means the Registrar of Titles or other proper officer of the State in which the land concerned is situated.\n\n#### 33ZK Commonwealth and Authority to take steps necessary to carry out transfers\n\n  The Commonwealth and the Authority must take the steps that are necessary to ensure that this Part is fully effective.\n\n#### 33ZL Part to have effect in spite of laws prohibiting transfers\n\n  (1) This Part has effect, and must be given effect to, in spite of anything in:\n    (a) any law of the Commonwealth or any law of a State or Territory; or\n    (b) any instrument.\n  (2) Without limiting subsection (1), if the consent of a person is necessary in order to give effect to this Part in a particular respect, the consent is taken to have been given.","sortOrder":42},{"sectionNumber":"33V","sectionType":"section","heading":"Exemptions relating to tax exempt matters","content":"#### 33V Exemptions relating to tax exempt matters\n\n  (1) Tax under a law of the Commonwealth or a State or Territory is not payable in relation to:\n    (a) a tax exempt matter; or\n    (b) anything done (including, for example, a transaction entered into or an instrument made, executed, lodged or given) because of, or for a purpose connected with or arising out of, a tax exempt matter.\n  (2) In subsection (1):\n\n> tax includes:\n\n    (a) sales tax; and\n    (b) stamp duty; and\n    (c) any other tax, fee, duty, levy or charge;\n  but does not include income tax imposed as such by a law of the Commonwealth or fees payable under the Corporations Act 2001.","sortOrder":43},{"sectionNumber":"33W","sectionType":"section","heading":"Value of trading stock for income tax purposes","content":"#### 33W Value of trading stock for income tax purposes\n\n  (1) For the purpose of ascertaining under Subdivision B of Division 2 of Part III of the Assessment Act the value of the receiving subsidiary’s trading stock on hand at the beginning of the year of income in which the re‑organisation day occurs:\n    (a) the receiving subsidiary is taken to have opted for market selling price; and\n    (b) the market selling price of petroleum transferred to the receiving subsidiary is taken to be the Authority’s market selling price of the petroleum assuming the petroleum were not transferred.\n  (2) Unless the contrary intention appears, expressions used in this section, and in Subdivision B of Division 2 of Part III of the Assessment Act, have the same respective meanings as in that Subdivision.","sortOrder":44},{"sectionNumber":"33X","sectionType":"section","heading":"Capital gains tax—assets acquired on or after 20 September 1985","content":"#### 33X Capital gains tax—assets acquired on or after 20 September 1985\n\n  (1) This section applies in relation to an asset that:\n    (a) was acquired by the Authority on or after 20 September 1985; and\n    (b) is acquired by the receiving subsidiary on the re‑organisation day.\n  (2) For the purposes of calculating whether, under Part IIIA of the Assessment Act, a capital gain accrues to, or a capital loss is incurred by, the receiving subsidiary on the disposal of the asset by the subsidiary, the subsidiary is taken to have paid as consideration for the acquisition of the asset an amount calculated in accordance with this section.\n  (3) If it is necessary to determine whether a capital gain has accrued, the consideration paid by the subsidiary for the acquisition of the asset is to be taken to have been:\n    (a) if the market value of the asset on the re‑organisation day is greater than the amount that would have been the indexed cost base (indexed cost base) to the Authority for the purposes of Part IIIA of the Assessment Act if that Part had applied in respect of that disposal by the Authority to the receiving subsidiary—an amount equal to the market value of the asset; or\n    (b) in any other case—an amount equal to the amount that would have been the indexed cost base.\n  (4) Where it is necessary to determine whether a capital loss has been incurred, the consideration paid by the subsidiary for the acquisition of the asset is to be taken to have been:\n    (a) if the market value of the asset on the re‑organisation day is less than the amount that would have been the reduced cost base (reduced cost base) to the Authority for the purposes of Part IIIA of the Assessment Act if that Part had applied in respect of that disposal by the Authority to the receiving subsidiary—an amount equal to the market value of the asset; or\n    (b) in any other case—an amount equal to the amount that would have been the reduced cost base.\n  (5) If the transferred asset is disposed of by the receiving subsidiary within 12 months of its acquisition by the Authority, subsection (3) has effect as if the references in that subsection to the indexed cost base to the Authority in relation to the asset were references to the cost base to the Authority in relation to the asset.\n  (6) Unless the contrary intention appears, expressions used in this section and in Part IIIA of the Assessment Act have the same respective meanings as in that Part.","sortOrder":45},{"sectionNumber":"33Y","sectionType":"section","heading":"Capital gains tax—assets acquired before 20 September 1985","content":"#### 33Y Capital gains tax—assets acquired before 20 September 1985\n\n  (1) A transferred asset of the receiving subsidiary that was acquired by the Authority before 20 September 1985 is taken, for the purposes of Part IIIA of the Assessment Act, to have been acquired by the receiving subsidiary before that date.\n  (2) Unless the contrary intention appears, expressions used in this section and in Part IIIA of the Assessment Act have the same respective meanings as in that Part.","sortOrder":46},{"sectionNumber":"33Z","sectionType":"section","heading":"Superannuation payments","content":"#### 33Z Superannuation payments\n\n  For the purposes of section 82AAC of the Assessment Act, a payment made by the receiving subsidiary of the Authority to the Commonwealth under:\n    (a) the Superannuation Act 1976; or\n    (b) the Superannuation Act 1990;\n  is taken to be a contribution to a fund for the purpose mentioned in paragraph 82AAC(1)(a) of the Assessment Act, being a fund that is an eligible superannuation fund, within the meaning of Part IX of the Assessment Act, in relation to the year of income of the fund in which the payment is made.","sortOrder":47},{"sectionNumber":"Division 6","sectionType":"division","heading":"Miscellaneous","content":"An Act to establish a Pipeline Authority\n\n## Part I—Preliminary\n\n#### 1 Short title \\[see Note 1\\]\n\n  This Act may be cited as the Pipeline Authority Act 1973.\n\n#### 2 Commencement \\[see Note 1\\]\n\n  This Act shall come into operation on a date to be fixed by Proclamation.\n\n#### 3 Interpretation\n\n  (1) In this Act a reference to the Authority is a reference to the Pipeline Authority as it was established by this Act before the repeal day.\n  (2) In this section:\n\n> repeal day has the same meaning as in Part 8 of the Moomba‑Sydney Pipeline System Sale Act 1994.\n\n  \n\n## Part V—Finance\n\n#### 25A Borrowings otherwise than from Commonwealth\n\n  (1) The Authority may, with the approval of the Treasurer:\n    (a) borrow money otherwise than from the Commonwealth; or\n    (b) raise money otherwise than by borrowing;\n  on terms and conditions that are specified in, or consistent with, the approval.\n  (2) Without limiting the generality of subsection (1), the Authority may, under that subsection, borrow money, or raise money otherwise than by borrowing, by dealing with securities.\n  (3) A borrowing of money, or a raising of money otherwise than by borrowing, under subsection (1) may be made, in whole or in part, in a currency other than Australian currency.\n  (4) An approval may be given under subsection (1) in relation to a particular transaction or in relation to transactions included in a class of transactions.\n  (5) An approval under subsection (1) shall be given in writing.\n  (6) For the purposes of this section:\n    (a) the issue by the Authority of an instrument acknowledging a debt in consideration of:\n    (i) the payment or deposit of money; or\n    (ii) the provision of credit;\n    otherwise than in relation to a transaction that is in the ordinary course of the day‑to‑day operations of the Authority shall be deemed to be a raising by the Authority, otherwise than by borrowing, of an amount of money equal to the amount of the money paid or deposited or the value of the credit provided, as the case may be; and\n    (b) the obtaining of credit by the Authority otherwise than in relation to a transaction that is in the ordinary course of the day‑to‑day operations of the Authority shall be deemed to be a raising by the Authority, otherwise than by borrowing, of an amount of money equal to the value of the credit so obtained.\n\n#### 25B Guarantee of borrowings by Authority\n\n  (1) The Treasurer may, on behalf of the Commonwealth, enter into a contract:\n    (a) guaranteeing the repayment by the Authority of money borrowed under paragraph 25A(1)(a) and the payment by the Authority of interest (including any interest on that interest) on money so borrowed; or\n    (b) guaranteeing the payment by the Authority of such amounts (which may be interest) that the Authority is liable to pay with respect to money raised under paragraph 25A(1)(b) as are specified in the contract.\n  (2) The Treasurer may, in writing, determine:\n    (a) that the repayment by the Authority of money borrowed under paragraph 25A(1)(a), and the payment by the Authority of interest (including any interest on that interest) on money so borrowed, are guaranteed by the Commonwealth; or\n    (b) that the payment by the Authority of such money (which may be interest) that the Authority is liable to pay with respect to money raised under paragraph 25A(1)(b) as is specified in the determination is guaranteed by the Commonwealth;\n  and, where the Treasurer makes such a determination, the repayment of that money and the payment of that interest are, or the payment of that money is, by force of this subsection, guaranteed by the Commonwealth.\n  (3) A contract may be entered into under subsection (1), and a determination may be made under subsection (2), in relation to a particular transaction or in relation to transactions included in a class of transactions.\n  (4) A contract entered into under subsection (1) may include either or both of the following provisions:\n    (a) a provision agreeing, on behalf of the Commonwealth, that proceedings under the contract may be taken in the courts, or a specified court, of a country other than Australia;\n    (b) a provision waiving, on behalf of the Commonwealth, the immunity of the Commonwealth from suit in the courts, or a specified court, of a country other than Australia in relation to any proceedings that may be taken under the contract.\n\n#### 25C Authority may give security\n\n  The Authority may give security over the whole or any part of its land or other assets for:\n    (a) the repayment by the Authority of money borrowed by the Authority under section 25 or paragraph 25A(1)(a) and the payment by the Authority of interest (including any interest on that interest) on money so borrowed;\n    (b) the payment by the Authority of amounts (including any interest) that the Authority is liable to pay with respect to money raised by the Authority under paragraph 25A(1)(b); or\n    (c) the payment to the Commonwealth of amounts equal to any amounts that the Commonwealth may become liable to pay under a contract entered into under subsection 25B(1) or a determination made under subsection 25B(2).\n\n#### 25D Borrowings not otherwise permitted\n\n  The Authority shall not borrow money, or raise money otherwise than by borrowing, except in accordance with sections 25 and 25A.\n\n#### 25E Delegation by Treasurer\n\n  (1) The Treasurer may, either generally or as otherwise provided by the instrument of delegation, by writing signed by the Treasurer, delegate to a person holding or performing the duties of an office in the Department of the Treasury all or any of the powers of the Treasurer under sections 25A and 25B.\n  (2) A power so delegated, when exercised by the delegate, shall, for the purposes of this Part, be deemed to have been exercised by the Treasurer.\n  (3) A delegate is, in the exercise of a power so delegated, subject to the directions of the Treasurer.\n  (4) A delegation under subsection (1) does not prevent the exercise of a power by the Treasurer.\n\n#### 26 Bank accounts\n\n  (1) The Authority may open and maintain an account or accounts with an approved bank or approved banks and shall maintain at all times at least one such account.\n  (2) The Authority shall pay all moneys of the Authority, including moneys borrowed by the Authority, into an account referred to in this section.\n\n#### 27 Application of moneys\n\n  (1) The moneys of the Authority may be applied by the Authority:\n    (a) in payment or discharge of the costs, expenses and other obligations of the Authority under this Act; and\n    (b) in payment of remuneration and allowances payable to any person under this Act;\n  but not otherwise.\n  (2) Moneys of the Authority not immediately required for the purposes of the Authority may be invested:\n    (a) on deposit with an approved bank;\n    (b) in securities of the Commonwealth; or\n    (c) in any other manner approved by the Treasurer.\n\n#### 28 Financial policy\n\n  (1) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is commenced by the Authority; and\n    (b) the Authority continues to operate and maintain any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) the construction of the pipeline; and\n    (d) the operation and maintenance of the transferred pipelines; and\n    (e) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (f) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (2) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is not commenced by the Authority; and\n    (b) the Authority continues to operate and maintain any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) the operation and maintenance of the transferred pipelines; and\n    (d) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (e) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (3) If:\n    (a) the construction of a pipeline from Moomba in South Australia to Botany in New South Wales is not commenced by the Authority; and\n    (b) the Authority does not continue to operate any transferred pipelines for another person after the sale day;\n  the Authority must pursue a policy of acting in accordance with sound commercial principles in relation to:\n    (c) finalising its business activities in relation to any assets that cease to be assets of the Authority because of the Sale Act; and\n    (d) the winding down of the Authority’s business activities to facilitate the abolition of the Authority by the Sale Act.\n  (4) In this section:\n\n> Sale Act means the Moomba‑Sydney Pipeline System Sale Act 1994.\n\n> sale day has the same meaning as in the Sale Act.\n\n> transferred pipeline means a pipeline that ceases to be an asset of the Authority because of the Sale Act.\n\n#### 28A Estimates\n\n  The Authority shall prepare estimates, in such form as the Minister directs, of its receipts and expenditure for each financial year and, if so directed by the Minister, for any other period, and shall submit those estimates to the Minister not later than such date as the Minister directs.\n\n#### 30 Profits of the Authority\n\n  (1) For the purposes of this Act, the profits of the Authority for a financial year are the amount, if any, remaining after deducting from the revenue received or receivable in respect of that financial year the expenditure, and provision for expenditure, properly chargeable against that revenue.\n  (2) Subject to section 30A, the profits of the Authority for a financial year shall be applied in such manner as the Minister, with the concurrence of the Minister for Finance determines.\n  (3) In making a determination under subsection (2), regard shall be had to any advice which the Authority has furnished to the Minister in relation to the financial affairs of the Authority.\n\n#### 30A Authority to pay dividends from subsidiaries to Commonwealth\n\n  The Authority must pay to the Commonwealth amounts of dividends received by the Authority from subsidiary companies other than such amounts as are specified by the Minister in a written notice given to the Authority.\n\n#### 31 Proper accounts to be kept\n\n  The Authority shall cause to be kept proper accounts and records of the transactions and affairs of the Authority in accordance with the accounting principles generally applied in commercial practice and shall do all things necessary to ensure that all payments out of its moneys are correctly made and properly authorized and that adequate control is maintained over the assets of, or in the custody of, the Authority and over the incurring of liabilities by the Authority.\n\n#### 32 Audit\n\n  (1) The Auditor‑General shall inspect and audit the accounts and records of financial transactions of the Authority and records relating to assets of, or in the custody of, the Authority and shall forthwith draw the attention of the Minister to any irregularity disclosed by the inspection and audit that is, in the opinion of the Auditor‑General, of sufficient importance to justify his or her doing so.\n  (2) The Auditor‑General may, in his or her discretion, dispense with all or any part of the detailed inspection and audit of any accounts or records referred to in subsection (1).\n  (3) The Auditor‑General shall, at least once in each year, report to the Minister the results of the inspection and audit carried out under subsection (1).\n  (4) The Auditor‑General or an officer authorized by the Auditor‑General is entitled at all reasonable times to full and free access to all accounts, records, documents and papers of the Authority relating directly or indirectly to the receipt or payment of moneys by the Authority or to the acquisition, receipt, custody or disposal of assets by the Authority.\n  (5) The Auditor‑General or an officer authorized by the Auditor‑General may make copies of, or take extracts from, any such accounts, records, documents or papers.\n  (6) The Auditor‑General or an officer authorized by the Auditor‑General may require any person to furnish him or her with such information in the possession of the person or to which the person has access as the Auditor‑General or authorized officer considers necessary for the purposes of the functions of the Auditor‑General under this Act, and the person shall comply with the requirement.\n  (7) A person who contravenes subsection (6) is guilty of an offence punishable, upon conviction, by a fine not exceeding $200.\n\n#### 33 Liability to taxation\n\n  (1) Subject to subsection (2A), the Authority is subject to taxation (other than income tax) under the laws of the Commonwealth.\n  (2) Subject to subsection (3), the Authority is not subject to taxation under a law of a State or of a Territory.\n  (2A) Where the Treasurer so determines by notice published in the Gazette, stamp duty, or any similar tax, is not payable by the Authority or any other person under a law of the Commonwealth or of a State or Territory in respect of:\n    (a) a security dealt with by the Authority;\n    (b) the issue, redemption, transfer, sale, purchase, re‑sale, acquisition or discounting of such a security by the Authority or any other person, not including a transaction done without consideration or for an inadequate consideration;\n    (c) any other transaction done for the purposes of a borrowing or other raising of moneys by the Authority; or\n    (d) any other document executed by or on behalf of the Authority for the purposes of a borrowing or other raising of moneys by the Authority.\n  (2B) The power conferred on the Treasurer by subsection (2A) to make a determination extends to the making of a determination in respect of securities included in a specified class or specified classes of securities and in respect of documents or transactions included in a specified class or specified classes of documents or transactions.\n  (3) Subject to subsection (2A), the regulations may provide that subsection (2) does not apply in relation to taxation under a specified law of a State or Territory.\n\n#### 33A Liability of subsidiary to taxation\n\n  (1) Subject to Division 5 of Part VA, a subsidiary company is subject to taxation under the laws of the Commonwealth and a State or Territory.\n  (2) A subsidiary company is not a public authority for the purposes of paragraph 23(d) of the Income Tax Assessment Act 1936.\n\n  \n\n## Part VA—Re‑organisation of the Business of the Authority\n\n### Division 1—Interpretation\n\n#### 33C Interpretation\n\n  In this Part, unless the contrary intention appears:\n\n> Assessment Act means the Income Tax Assessment Act 1936.\n\n> asset means property of any kind, and includes:\n\n    (a) any legal or equitable estate or interest (whether present or future, vested or contingent, tangible or intangible) in real or personal property of any description; and\n    (b) any chose in action; and\n    (c) any right, interest or claim of any kind in or in relation to property (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing).\n\n> authorised person means the Minister or a person authorised, in writing, by the Minister for the purposes of this Part.\n\n> delivery point means any point on a pipeline where petroleum is delivered by the Authority to a person.\n\n> instrument means an instrument of any kind, and includes:\n\n    (a) any contract, deed, undertaking or agreement; and\n    (b) any mandate, instruction, notice, authority or order; and\n    (c) any lease, licence, transfer, conveyance or other assurance; and\n    (d) any guarantee, bond, power of attorney, bill of lading, negotiable instrument or order for the payment of money; and\n    (e) any mortgage, charge, lien or security;\n  whether express or implied and whether made or given orally or in writing.\n\n> instrument to which this Part applies means an instrument:\n\n    (a) to which the Authority is a party; or\n    (b) that was given to, by or in favour of the Authority; or\n    (c) in which a reference is made to the Authority; or\n    (d) under which any money is or may become payable, or any other property is to be, or may become liable to be, transferred, conveyed or assigned, to or by the Authority.\n\n> interest in relation to land, means:\n\n    (a) a legal or equitable estate or interest in land; or\n    (b) a right, power or privilege over, or in relation to, the land.\n\n> liability means a liability of any kind, and includes an obligation of any kind (whether arising under an instrument or otherwise, and whether liquidated or unliquidated, certain or contingent, accrued or accruing).\n\n> Lithgow pipeline means the Authority’s pipeline originating at a point on the Moomba Sydney pipeline near Young in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Orange;\n    (b) Bathurst;\n    (c) Blayney;\n    (d) Lithgow.\n\n> Moomba means Moomba in South Australia.\n\n> Moomba‑Sydney pipeline means the Authority’s pipeline from Moomba to the delivery point at Wilton in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Bowral;\n    (b) Goulburn;\n    (c) Marulan;\n    (d) Moss Vale.\n\n> Moomba‑Sydney pipeline system means the pipeline system consisting of the following pipelines:\n\n    (a) the Moomba‑Sydney pipeline;\n    (b) the Lithgow pipeline;\n    (c) the Wagga pipeline.\n\n> nominated staff member means a person to whom a determination under section 33R applies.\n\n> non‑transferring asset means:\n\n    (a) the Moomba‑Sydney pipeline system; and\n    (b) any interests in relation to the land on or under which the pipelines for the Moomba‑Sydney pipeline system are constructed; and\n    (c) any other asset that does not become, under this Part, an asset of the receiving subsidiary.\n\n> non‑transferring instrument means an instrument to which this Part applies that does not become, under this Part, an instrument of the receiving subsidiary.\n\n> non‑transferring liability means a liability that does not become, under this Part, a liability of the receiving subsidiary.\n\n> proceeding to which this Part applies means a proceeding to which the Authority is a party, other than a proceeding that does not relate to the transferred business.\n\n> re‑organisation day means the day fixed under section 33D.\n\n> share means a share in the share capital of a company, and includes stock.\n\n> staff member means a person who is an officer or employee of the Authority.\n\n> tax exempt matter means:\n\n    (a) the nomination of the receiving subsidiary under section 33E; and\n    (b) the making of a determination under section 33F; and\n    (c) business of the Authority ceasing, under this Part, to be business of the Authority and becoming business of the receiving subsidiary; and\n    (d) the issue of shares under section 33M; and\n    (e) the operation of this Part in any other respect; and\n    (f) giving effect to a matter referred to in another paragraph of this definition or otherwise giving effect to this Part.\n\n> transfer day, in relation to a nominated staff member, means the day applicable to the staff member in the determination under section 33R that is applicable to the staff member.\n\n> transferring asset means an asset other than:\n\n    (a) the Moomba‑Sydney pipeline system; and\n    (b) any interests in relation to the land on or under which the pipelines for the Moomba‑Sydney pipeline system are constructed;\n  to which a determination under paragraph 33F(1)(a) applies.\n\n> transferring business means the business that becomes, under this Part, business of the receiving subsidiary; and\n\n> transferring instrument means an instrument (other than an instrument relating to the Moomba‑Sydney pipeline system) to which a determination under paragraph 33F(1)(c) applies.\n\n> transferring liability means a liability (other than a liability relating to the Moomba‑Sydney pipeline system) to which a determination under paragraph 33F(1)(b) applies.\n\n> transferring staff member means a staff member who, under this Part, becomes employed by the receiving subsidiary.\n\n> Wagga pipeline means the Authority’s pipeline originating at a point on the Moomba‑Sydney pipeline near Young in New South Wales, and includes the delivery points, and pipelines leading from the first‑mentioned pipeline to the delivery points, at or near the following places in that State:\n\n    (a) Cootamundra;\n    (b) Junee;\n    (c) Wagga Wagga;\n    (d) Young.\n\n> wholly‑owned subsidiary, in relation to the Authority, means a body corporate:\n\n    (a) that has been formed by the Authority; and\n    (b) that is a subsidiary of the Authority; and\n    (c) none of whose members is a person other than:\n    (i) the Authority; or\n    (ii) a body corporate that is, under any other applications of this definition, a wholly‑owned subsidiary of the Authority; or\n    (iii) a nominee of the Authority or of a body of the kind referred to in subparagraph (ii); and\n    (d) no share in which is beneficially owned by a person other than:\n    (i) the Authority; or\n    (ii) a body of the kind referred to in subparagraph (c)(ii).\n\n  \n\n### Division 2—Steps leading to re‑organisation\n\n#### 33D Fixing the day on which re‑organisation is to take place—the re‑organisation day\n\n  The Minister may, by notice in the Gazette , fix a day as the day on which the re‑organisation under this Part is to take place.\n\n#### 33E Nomination of subsidiary to which business is to be transferred—the receiving subsidiary\n\n  (1) Subject to subsection (2), the Minister must, before the re‑organisation day, by notice in the Gazette, nominate a subsidiary of the Authority as the receiving subsidiary for the purposes of this Part.\n  (2) The Minister must not nominate a subsidiary under subsection (1) unless the subsidiary is:\n    (a) a company incorporated under the Corporations Act 2001; and\n    (b) a wholly‑owned subsidiary; and\n    (c) a trading corporation within the meaning of paragraph 51(xx) of the Constitution.\n  (3) If a subsidiary nominated under subsection (1) ceases, on or before the re‑organisation day, to be a subsidiary of the Authority of the kind described in subsection (2), the Minister must revoke the nomination.\n  (4) For all purposes, and in all proceedings, relating to this Act, proof of the fact that a body corporate was nominated under subsection (1) is to be taken:\n    (a) to have been, on the day of the nomination, a subsidiary of the Authority of the kind described in subsection (2); and\n    (b) at all times thereafter until the re‑organisation day, to have continued to be such a subsidiary.\n\n#### 33F Determination of assets, instruments and liabilities to be transferred etc.—the transferring assets, instruments and liabilities\n\n  (1) The Minister may, by notice in the Gazette:\n    (a) declare a specified asset of the Authority to be a transferring asset; or\n    (b) declare a specified liability of the Authority to be a transferring liability; or\n    (c) declare a specified instrument to which this Part applies to be a transferring instrument.\n  (2) A declaration under subsection (1) may only be made before the re‑organisation day.\n\n  \n\n### Division 3—The re‑organisation\n\n#### 33G Transferred business of Authority becomes business of receiving subsidiary\n\n  On the re‑organisation day, the transferred business of the Authority ceases, by force of this section, to be business of the Authority and becomes business of the receiving subsidiary.\n\n#### 33H Transferring assets and transferring liabilities of Authority become assets and liabilities of receiving subsidiary\n\n  Without limiting section 33G, on the re‑organisation day, all transferring assets and transferring liabilities of the Authority cease to be assets and liabilities of the Authority and become assets and liabilities of the receiving subsidiary.\n\n#### 33J Instruments\n\n  (1) Without limiting section 33G, an instrument to which this Part applies continues, subject to subsection (2), in full force and effect on and after the re‑organisation day.\n  (2) A transferring instrument has effect, in relation to acts, transactions and matters done, entered into or occurring on or after the re‑ organisation day, as if a reference in the instrument to the Authority were a reference to the receiving subsidiary.\n\n#### 33K Pending proceedings\n\n  Without limiting section 33G, if a proceeding to which this Part applies is, immediately before the re‑organisation day, pending in a court, the receiving subsidiary is, on that day, substituted for the Authority as a party.\n\n#### 33L Valuation of transferring business\n\n  (1) The Minister must, by written notice given to the Authority and the receiving subsidiary not later than 7 days after the re‑organisation day, determine:\n    (a) the market value of each transferring asset on the re‑organisation day; and\n    (b) the amount of each transferring liability on that day.\n  (2) The net value of the transferring assets on the re‑organisation day is the amount worked out by subtracting the total amount of the transferring liabilities from the total market value of the transferring assets on that day.\n  (3) For all purposes and in all proceedings, the net value of the transferring business is taken to be the amount determined under subsection (2) as the net value of the transferring assets on that day.\n\n#### 33M Issue of shares in receiving subsidiary to Authority in relation to transferring business\n\n  (1) On the day on which the receiving subsidiary is given the notice under subsection 33L(1), the receiving subsidiary must, subject to subsection (2), issue shares in the receiving subsidiary to the Authority.\n  (2) The shares issued to the Authority are taken to have been fully paid up and to have been issued for valuable consideration.\n\n#### 33N Authorised person may certify matters in relation to re‑organisation\n\n  (1) An authorised person may, by signed writing, certify any matter in relation to the operation of this Division and, in particular, may certify:\n    (a) whether specified assets are or are not transferring assets or non‑transferring assets; and\n    (b) whether specified liabilities are or are not transferring liabilities or non‑transferring liabilities; and\n    (c) whether specified instruments are or are not non‑transferring instruments or other instruments to which this Part applies.\n  (2) A document purporting to be a certificate under subsection (1) is, unless the contrary intention is established, taken to be such a certificate and to have been properly given.\n\n#### 33P Extraterritorial operation of Division\n\n  It is the intention of the Parliament that this Division should apply, to the greatest extent possible, in relation to:\n    (a) things situated outside Australia; and\n    (b) acts, transactions and matters done, entered into or occurring outside Australia; and\n    (c) things, acts, transactions and matters (wherever situated, done, entered into or occurring) that would, apart from this Act, be governed or otherwise affected by the law of a foreign country.\n\n#### 33Q Authority to take steps necessary to carry out re‑organisation\n\n  The Authority must take such steps as are necessary to ensure that this Division is fully effective, particularly in relation to its operation outside Australia.\n\n  \n\n### Division 4—Transfer of staff\n\n#### 33R Determination of staff to be transferred to receiving subsidiary\n\n  The Chief Executive Officer may, in writing, determine that the employment of specified staff members is to be transferred to the receiving subsidiary on and from the day, or the respective days, specified in the determination.\n\n#### 33S Employment of nominated staff member to continue with receiving subsidiary\n\n  Subject to sections 33T and 33U, each nominated staff member who is a staff member immediately before his or her transfer day is, on and from the transfer day, taken to be employed by the receiving subsidiary on the terms and conditions on which he or she was employed by the Authority immediately before the transfer day.\n\n#### 33T Act not to affect certain matters relating to transferring staff members\n\n  (1) This section has effect for the purposes of the application, at any time on or after the transfer day of a transferring staff member, of a law, award, determination or agreement in relation to the employment of the transferring staff member.\n  (2) Neither the transferring staff member’s contract of employment, nor his or her period of employment, is taken to have been broken by the operation of this Part.\n  (3) Without limiting section 33S or subsection (2) of this section, this Part does not affect any accrued rights that the transferring staff member had immediately before the transfer day in relation to any kind of leave.\n  (4) Where, if a transferred staff member had, immediately before the transfer day, ceased to be employed by the Authority:\n    (a) it would have been necessary to take into account a period during which the transferring staff member was employed by the Authority or any other person to determine:\n    (i) an amount payable to the transferring staff member; or\n    (ii) a benefit to which the transferring staff member would have been entitled;\n    because of his or her so ceasing; and\n    (b) apart from this subsection, some or all of that period would not have to be taken into account as a period during which the staff member was employed by the receiving subsidiary;\n  the receiving subsidiary must treat the whole of the first‑mentioned period as a period during which the transferring staff member was employed by it.\n\n#### 33U Variation of terms and conditions of employment\n\n  (1) It is a term of each transferring staff member’s employment after his or her transfer day that the terms and conditions of that employment may be varied to the extent to which, and the manner in which, the terms and conditions of his or her employment could be varied under this Act immediately before the transfer day.\n  (2) This Part does not prevent the terms and conditions of a transferring staff member’s employment after his or her transfer day from being varied:\n    (a) in accordance with those terms and conditions; or\n    (b) by or under a law, award, determination or agreement.\n  (3) In this section:\n\n> terms and conditions includes a term or condition existing because of subsection (1).\n\n> vary, in relation to terms and conditions, includes vary by way of:\n\n    (a) omitting any of those terms and conditions; or\n    (b) adding to those terms and conditions; or\n    (c) substituting new terms or conditions for any of those terms and conditions.\n\n  \n\n### Division 5—Taxation matters\n\n#### 33V Exemptions relating to tax exempt matters\n\n  (1) Tax under a law of the Commonwealth or a State or Territory is not payable in relation to:\n    (a) a tax exempt matter; or\n    (b) anything done (including, for example, a transaction entered into or an instrument made, executed, lodged or given) because of, or for a purpose connected with or arising out of, a tax exempt matter.\n  (2) In subsection (1):\n\n> tax includes:\n\n    (a) sales tax; and\n    (b) stamp duty; and\n    (c) any other tax, fee, duty, levy or charge;\n  but does not include income tax imposed as such by a law of the Commonwealth or fees payable under the Corporations Act 2001.\n\n#### 33W Value of trading stock for income tax purposes\n\n  (1) For the purpose of ascertaining under Subdivision B of Division 2 of Part III of the Assessment Act the value of the receiving subsidiary’s trading stock on hand at the beginning of the year of income in which the re‑organisation day occurs:\n    (a) the receiving subsidiary is taken to have opted for market selling price; and\n    (b) the market selling price of petroleum transferred to the receiving subsidiary is taken to be the Authority’s market selling price of the petroleum assuming the petroleum were not transferred.\n  (2) Unless the contrary intention appears, expressions used in this section, and in Subdivision B of Division 2 of Part III of the Assessment Act, have the same respective meanings as in that Subdivision.\n\n#### 33X Capital gains tax—assets acquired on or after 20 September 1985\n\n  (1) This section applies in relation to an asset that:\n    (a) was acquired by the Authority on or after 20 September 1985; and\n    (b) is acquired by the receiving subsidiary on the re‑organisation day.\n  (2) For the purposes of calculating whether, under Part IIIA of the Assessment Act, a capital gain accrues to, or a capital loss is incurred by, the receiving subsidiary on the disposal of the asset by the subsidiary, the subsidiary is taken to have paid as consideration for the acquisition of the asset an amount calculated in accordance with this section.\n  (3) If it is necessary to determine whether a capital gain has accrued, the consideration paid by the subsidiary for the acquisition of the asset is to be taken to have been:\n    (a) if the market value of the asset on the re‑organisation day is greater than the amount that would have been the indexed cost base (indexed cost base) to the Authority for the purposes of Part IIIA of the Assessment Act if that Part had applied in respect of that disposal by the Authority to the receiving subsidiary—an amount equal to the market value of the asset; or\n    (b) in any other case—an amount equal to the amount that would have been the indexed cost base.\n  (4) Where it is necessary to determine whether a capital loss has been incurred, the consideration paid by the subsidiary for the acquisition of the asset is to be taken to have been:\n    (a) if the market value of the asset on the re‑organisation day is less than the amount that would have been the reduced cost base (reduced cost base) to the Authority for the purposes of Part IIIA of the Assessment Act if that Part had applied in respect of that disposal by the Authority to the receiving subsidiary—an amount equal to the market value of the asset; or\n    (b) in any other case—an amount equal to the amount that would have been the reduced cost base.\n  (5) If the transferred asset is disposed of by the receiving subsidiary within 12 months of its acquisition by the Authority, subsection (3) has effect as if the references in that subsection to the indexed cost base to the Authority in relation to the asset were references to the cost base to the Authority in relation to the asset.\n  (6) Unless the contrary intention appears, expressions used in this section and in Part IIIA of the Assessment Act have the same respective meanings as in that Part.\n\n#### 33Y Capital gains tax—assets acquired before 20 September 1985\n\n  (1) A transferred asset of the receiving subsidiary that was acquired by the Authority before 20 September 1985 is taken, for the purposes of Part IIIA of the Assessment Act, to have been acquired by the receiving subsidiary before that date.\n  (2) Unless the contrary intention appears, expressions used in this section and in Part IIIA of the Assessment Act have the same respective meanings as in that Part.\n\n#### 33Z Superannuation payments\n\n  For the purposes of section 82AAC of the Assessment Act, a payment made by the receiving subsidiary of the Authority to the Commonwealth under:\n    (a) the Superannuation Act 1976; or\n    (b) the Superannuation Act 1990;\n  is taken to be a contribution to a fund for the purpose mentioned in paragraph 82AAC(1)(a) of the Assessment Act, being a fund that is an eligible superannuation fund, within the meaning of Part IX of the Assessment Act, in relation to the year of income of the fund in which the payment is made.\n\n  \n\n### Division 6—Miscellaneous\n\n#### 33ZA Certificates in relation to land and interests in land\n\n  If:\n    (a) land or an interest in land becomes, under this Part, land or an interest in land of the receiving subsidiary; and\n    (b) a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the land or interest, whether by reference to a map or otherwise; and\n    (iii) states that the land or interest has, under this Part, become land or an interest in land of the receiving subsidiary;\n    is lodged with the Registrar‑General, Registrar of Titles or other proper officer of the State or Territory in which the land is situated;\n  the officer with whom the certificate is lodged may:\n    (c) deal with, and give effect to, the certificate as if it were a grant, conveyance, memorandum or instrument of transfer of the land (including all rights, title and interest in the land) or the interest in the land, as the case may be, to the receiving subsidiary that had been properly executed under the laws in force in the State or Territory; and\n    (d) make such entries in the register as are necessary having regard to the effect of section 33H.\n\n#### 33ZB Certificates in relation to other assets\n\n  If:\n    (a) an asset (other than an asset in relation to which section 33V, 33W, 33X or 33Y applies) becomes, under this Part, an asset of the receiving subsidiary; and\n    (b) a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the asset; and\n    (iii) states that the asset has, under this Part, become an asset of the receiving subsidiary;\n    is given to the person or authority who has, under the law of the Commonwealth or of a State or Territory, responsibility for keeping a register in relation to assets of that kind;\n  the person or authority may:\n    (c) deal with, and give effect to, the certificate as if the certificate were a proper and appropriate instrument for transactions in relation to assets of that kind; and\n    (d) make such entries in the register as are necessary having regard to the effect of section 33H.\n\n#### 33ZC Part to have effect in spite of laws and agreements prohibiting transfer etc.\n\n  (1) This Part has effect, and must be given effect to, in spite of anything in:\n    (a) any other law of the Commonwealth or any law of a State or Territory; or\n    (b) any contract, deed, undertaking, agreement or other instrument.\n  (2) No provision of this Part, and nothing done by a person because of, or for a purpose connected with or arising out of, this Part:\n    (a) is to be regarded as:\n    (i) placing the Authority, a subsidiary of the Authority or another person in breach of contract or confidence; or\n    (ii) otherwise making the Authority, a subsidiary of the Authority or another person guilty of a civil wrong; or\n    (b) is to be regarded as placing the Authority, a subsidiary of the Authority or another person in breach of:\n    (i) any law of the Commonwealth or of a State or Territory; or\n    (ii) any contractual provision prohibiting, restricting or regulating the assignment or transfer of any asset or liability or the disclosure of any information; or\n    (c) is to be taken to release any surety from any of the surety’s obligations.\n  (3) Without limiting subsection (1), if, apart from this section, the consent of a person would be necessary in order to give effect to this Part in a particular respect, the consent is taken to have been given.\n\n#### 33ZD Compensation for acquisition of property\n\n  (1) If, apart from this section, the operation of this Part would result in the acquisition of property from a person otherwise than on just terms, there is payable to the person by the Authority such reasonable amount of compensation as is agreed on between the person and the Authority or, failing agreement, as is determined by a court of competent jurisdiction.\n  (2) Any damages or compensation recovered, or other remedy given, in a proceeding instituted otherwise than under this section must be taken into account in assessing compensation payable in a proceeding instituted under this section and arising out of the same event or transaction.\n  (3) In this section, acquisition of property and just terms have the same respective meanings as in paragraph 51(xxxi) of the Constitution.\n\n  \n\n## Part VB—Transfer to Gorodok of easements of the Authority relating to the Moomba‑Botany Pipeline\n\n#### 33ZE Definitions\n\n  In this Part, unless the contrary intention appears:\n\n> authorised person means:\n\n    (a) the Minister; or\n    (b) a person authorised by the Minister, in writing, for the purposes of this Part.\n\n> easement includes a right in relation to land.\n\n> Gorodok means Gorodok Proprietary Limited (A.C.N. 057 156 751).\n\n> instrument includes a document.\n\n> Moomba‑Botany pipeline means the pipeline that, when constructed, will carry gas from Moomba in South Australia to Botany in New South Wales.\n\n> transfer day, in relation to a transferring interest, means the day specified in a notice under section 33ZF.\n\n> transferring interest means an easement specified in a notice under section 33ZF.\n\n#### 33ZF Specifying the easements etc. to be transferred to Gorodok and the transfer day\n\n  (1) An authorised person may, by notice in the Gazette, specify:\n    (a) an easement that relates to the Moomba‑Botany pipeline; and\n    (b) the transfer day for that easement.\n  (2) The authorised person may make and publish one or more notices under subsection (1).\n\n#### 33ZG Transfer to Gorodok of transferring interests of the Authority\n\n  By force of this section, each transferring interest of the Authority:\n    (a) ceases to be an asset of the Authority; and\n    (b) becomes an asset of Gorodok;\n  on the transfer day for the interest.\n\n#### 33ZH Instruments relating to the transferring interests of the Authority\n\n  (1) An authorised person may, by notice in the Gazette, on or before the transfer day for a particular transferring interest, specify an instrument that relates to the interest for the purposes of this section.\n  (2) An instrument specified in a notice under subsection (1) continues to have effect, on and after the transfer day for the transferring interest that relates to the instrument, as if a reference in the instrument to the Authority were a reference to Gorodok.\n\n#### 33ZJ Certificates in relation to interests in land\n\n  (1) This section applies if:\n    (a) an interest in land becomes an interest in land of Gorodok under this Part; and\n    (b) there is lodged with a land registration official a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the interest, whether by reference to a map or otherwise; and\n    (iii) states that the interest has become an interest in land of Gorodok under this Part.\n  (2) The land registration official may:\n    (a) register the matter in the same way in which dealings in in land of that kind are registered; and\n    (b) deal with, and give effect to, the certificate.\n  (3) A document that appears to be a certificate under subsection (1) is taken to be such a certificate and to have been properly given unless the contrary is established.\n  (4) In this section:\n\n> land registration official means the Registrar of Titles or other proper officer of the State in which the land concerned is situated.\n\n#### 33ZK Commonwealth and Authority to take steps necessary to carry out transfers\n\n  The Commonwealth and the Authority must take the steps that are necessary to ensure that this Part is fully effective.\n\n#### 33ZL Part to have effect in spite of laws prohibiting transfers\n\n  (1) This Part has effect, and must be given effect to, in spite of anything in:\n    (a) any law of the Commonwealth or any law of a State or Territory; or\n    (b) any instrument.\n  (2) Without limiting subsection (1), if the consent of a person is necessary in order to give effect to this Part in a particular respect, the consent is taken to have been given.","sortOrder":48},{"sectionNumber":"33ZA","sectionType":"section","heading":"Certificates in relation to land and interests in land","content":"#### 33ZA Certificates in relation to land and interests in land\n\n  If:\n    (a) land or an interest in land becomes, under this Part, land or an interest in land of the receiving subsidiary; and\n    (b) a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the land or interest, whether by reference to a map or otherwise; and\n    (iii) states that the land or interest has, under this Part, become land or an interest in land of the receiving subsidiary;\n    is lodged with the Registrar‑General, Registrar of Titles or other proper officer of the State or Territory in which the land is situated;\n  the officer with whom the certificate is lodged may:\n    (c) deal with, and give effect to, the certificate as if it were a grant, conveyance, memorandum or instrument of transfer of the land (including all rights, title and interest in the land) or the interest in the land, as the case may be, to the receiving subsidiary that had been properly executed under the laws in force in the State or Territory; and\n    (d) make such entries in the register as are necessary having regard to the effect of section 33H.","sortOrder":49},{"sectionNumber":"33ZB","sectionType":"section","heading":"Certificates in relation to other assets","content":"#### 33ZB Certificates in relation to other assets\n\n  If:\n    (a) an asset (other than an asset in relation to which section 33V, 33W, 33X or 33Y applies) becomes, under this Part, an asset of the receiving subsidiary; and\n    (b) a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the asset; and\n    (iii) states that the asset has, under this Part, become an asset of the receiving subsidiary;\n    is given to the person or authority who has, under the law of the Commonwealth or of a State or Territory, responsibility for keeping a register in relation to assets of that kind;\n  the person or authority may:\n    (c) deal with, and give effect to, the certificate as if the certificate were a proper and appropriate instrument for transactions in relation to assets of that kind; and\n    (d) make such entries in the register as are necessary having regard to the effect of section 33H.","sortOrder":50},{"sectionNumber":"33ZC","sectionType":"section","heading":"Part to have effect in spite of laws and agreements prohibiting transfer etc.","content":"#### 33ZC Part to have effect in spite of laws and agreements prohibiting transfer etc.\n\n  (1) This Part has effect, and must be given effect to, in spite of anything in:\n    (a) any other law of the Commonwealth or any law of a State or Territory; or\n    (b) any contract, deed, undertaking, agreement or other instrument.\n  (2) No provision of this Part, and nothing done by a person because of, or for a purpose connected with or arising out of, this Part:\n    (a) is to be regarded as:\n    (i) placing the Authority, a subsidiary of the Authority or another person in breach of contract or confidence; or\n    (ii) otherwise making the Authority, a subsidiary of the Authority or another person guilty of a civil wrong; or\n    (b) is to be regarded as placing the Authority, a subsidiary of the Authority or another person in breach of:\n    (i) any law of the Commonwealth or of a State or Territory; or\n    (ii) any contractual provision prohibiting, restricting or regulating the assignment or transfer of any asset or liability or the disclosure of any information; or\n    (c) is to be taken to release any surety from any of the surety’s obligations.\n  (3) Without limiting subsection (1), if, apart from this section, the consent of a person would be necessary in order to give effect to this Part in a particular respect, the consent is taken to have been given.","sortOrder":51},{"sectionNumber":"33ZD","sectionType":"section","heading":"Compensation for acquisition of property","content":"#### 33ZD Compensation for acquisition of property\n\n  (1) If, apart from this section, the operation of this Part would result in the acquisition of property from a person otherwise than on just terms, there is payable to the person by the Authority such reasonable amount of compensation as is agreed on between the person and the Authority or, failing agreement, as is determined by a court of competent jurisdiction.\n  (2) Any damages or compensation recovered, or other remedy given, in a proceeding instituted otherwise than under this section must be taken into account in assessing compensation payable in a proceeding instituted under this section and arising out of the same event or transaction.\n  (3) In this section, acquisition of property and just terms have the same respective meanings as in paragraph 51(xxxi) of the Constitution.","sortOrder":52},{"sectionNumber":"Part VB","sectionType":"part","heading":"Transfer to Gorodok of easements of the Authority relating to the Moomba‑Botany Pipeline","content":"## Part VB—Transfer to Gorodok of easements of the Authority relating to the Moomba‑Botany Pipeline","sortOrder":53},{"sectionNumber":"33ZE","sectionType":"section","heading":"Definitions","content":"#### 33ZE Definitions\n\n  In this Part, unless the contrary intention appears:\n\n> authorised person means:\n\n    (a) the Minister; or\n    (b) a person authorised by the Minister, in writing, for the purposes of this Part.\n\n> easement includes a right in relation to land.\n\n> Gorodok means Gorodok Proprietary Limited (A.C.N. 057 156 751).\n\n> instrument includes a document.\n\n> Moomba‑Botany pipeline means the pipeline that, when constructed, will carry gas from Moomba in South Australia to Botany in New South Wales.\n\n> transfer day, in relation to a transferring interest, means the day specified in a notice under section 33ZF.\n\n> transferring interest means an easement specified in a notice under section 33ZF.","sortOrder":54},{"sectionNumber":"33ZF","sectionType":"section","heading":"Specifying the easements etc. to be transferred to Gorodok and the transfer day","content":"#### 33ZF Specifying the easements etc. to be transferred to Gorodok and the transfer day\n\n  (1) An authorised person may, by notice in the Gazette, specify:\n    (a) an easement that relates to the Moomba‑Botany pipeline; and\n    (b) the transfer day for that easement.\n  (2) The authorised person may make and publish one or more notices under subsection (1).","sortOrder":55},{"sectionNumber":"33ZG","sectionType":"section","heading":"Transfer to Gorodok of transferring interests of the Authority","content":"#### 33ZG Transfer to Gorodok of transferring interests of the Authority\n\n  By force of this section, each transferring interest of the Authority:\n    (a) ceases to be an asset of the Authority; and\n    (b) becomes an asset of Gorodok;\n  on the transfer day for the interest.","sortOrder":56},{"sectionNumber":"33ZH","sectionType":"section","heading":"Instruments relating to the transferring interests of the Authority","content":"#### 33ZH Instruments relating to the transferring interests of the Authority\n\n  (1) An authorised person may, by notice in the Gazette, on or before the transfer day for a particular transferring interest, specify an instrument that relates to the interest for the purposes of this section.\n  (2) An instrument specified in a notice under subsection (1) continues to have effect, on and after the transfer day for the transferring interest that relates to the instrument, as if a reference in the instrument to the Authority were a reference to Gorodok.","sortOrder":57},{"sectionNumber":"33ZJ","sectionType":"section","heading":"Certificates in relation to interests in land","content":"#### 33ZJ Certificates in relation to interests in land\n\n  (1) This section applies if:\n    (a) an interest in land becomes an interest in land of Gorodok under this Part; and\n    (b) there is lodged with a land registration official a certificate that:\n    (i) is signed by an authorised person; and\n    (ii) identifies the interest, whether by reference to a map or otherwise; and\n    (iii) states that the interest has become an interest in land of Gorodok under this Part.\n  (2) The land registration official may:\n    (a) register the matter in the same way in which dealings in in land of that kind are registered; and\n    (b) deal with, and give effect to, the certificate.\n  (3) A document that appears to be a certificate under subsection (1) is taken to be such a certificate and to have been properly given unless the contrary is established.\n  (4) In this section:\n\n> land registration official means the Registrar of Titles or other proper officer of the State in which the land concerned is situated.","sortOrder":58},{"sectionNumber":"33ZK","sectionType":"section","heading":"Commonwealth and Authority to take steps necessary to carry out transfers","content":"#### 33ZK Commonwealth and Authority to take steps necessary to carry out transfers\n\n  The Commonwealth and the Authority must take the steps that are necessary to ensure that this Part is fully effective.","sortOrder":59},{"sectionNumber":"33ZL","sectionType":"section","heading":"Part to have effect in spite of laws prohibiting transfers","content":"#### 33ZL Part to have effect in spite of laws prohibiting transfers\n\n  (1) This Part has effect, and must be given effect to, in spite of anything in:\n    (a) any law of the Commonwealth or any law of a State or Territory; or\n    (b) any instrument.\n  (2) Without limiting subsection (1), if the consent of a person is necessary in order to give effect to this Part in a particular respect, the consent is taken to have been given.","sortOrder":60}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-realtime","completionTokens":2046},"content_quality":"ok","complexity_score":7,"scope_assessment":{"changed":true,"description":"Originally enacted in 1973 to establish and empower the Pipeline Authority to construct and operate pipelines, the Act's scope has fundamentally shifted to facilitate the Authority's abolition and the privatisation of its assets. The current text is dominated by transitional provisions (Parts VA and VB) dealing with the transfer of assets to private entities (a subsidiary and Gorodok Proprietary Limited) and complex tax arrangements for the wind-down, rather than the original operational mandate."},"complexity_factors":["30+ defined technical terms in Part VA including legal concepts like 'chose in action', 'vested or contingent interests', and recursive definitions of 'wholly-owned subsidiary'","Extensive cross-referencing to external legislation: Moomba-Sydney Pipeline System Sale Act 1994, Income Tax Assessment Act 1936, Corporations Act 2001, and Superannuation Acts","Triple-branch conditional logic in section 28 (Financial policy) depending on whether pipeline construction was commenced and whether transferred pipelines are operated post-sale","Technical taxation provisions in Division 5 of Part VA requiring calculations of indexed cost bases and reduced cost bases for capital gains tax purposes","Multi-step administrative process requiring Gazette notices, Ministerial determinations, and specific timing mechanisms (re-organisation day, transfer days)","Extraterritorial application clauses attempting to override foreign laws (section 33P)"],"plain_english_summary":"This Act originally established the **Pipeline Authority**, a government body that built and operated natural gas pipelines (notably the Moomba-Sydney pipeline system connecting South Australia to New South Wales).\n\nToday, the Act functions as a **winding-down and privatisation framework**. It contains detailed rules for transferring the Authority's business to the private sector:\n\n*   **Financial Provisions (Part V)**: Historical rules governing how the Authority could borrow money, open bank accounts, and manage profits. These sections reflect the Authority's former status as a government commercial entity.\n*   **Corporate Re-organisation (Part VA)**: Complex machinery for transferring the Authority's assets, liabilities, contracts, and employees to a new private subsidiary company (the \"receiving subsidiary\"). This includes:\n    *   Ministerial powers to fix a \"re-organisation day\" and nominate the receiving company\n    *   Automatic transfer of legal proceedings and instruments to the new entity\n    *   Detailed **taxation rules** (Division 5) ensuring these transfers don't trigger capital gains tax or stamp duty, including specific calculations for asset cost bases\n*   **Pipeline Easement Transfer (Part VB)**: Specific provisions to transfer land easements (legal rights over property) for the Moomba-Botany pipeline to a private company named **Gorodok Proprietary Limited**.\n\nIn essence, the Act manages the transition from a government-owned pipeline operator to a privatised entity, ensuring legal continuity and tax efficiency during the handover."},"summary":{"complexity_score":8,"scope_assessment":{"changed":true,"description":"The original 1973 Act was straightforwardly about establishing and empowering the Pipeline Authority to build and operate a national gas pipeline network. Over time — particularly following the Moomba-Sydney Pipeline System Sale Act 1994 — the Act was substantially amended to accommodate the complete privatisation and abolition of the Authority. Parts VA and VB (comprising the majority of the surviving text) were added amendments that go well beyond the original purpose of establishing a pipeline body: they now serve as a complex privatisation-unwinding statute, dealing with corporate reorganisation, asset transfers to private companies, employee transitions, detailed capital gains tax calculations, and the transfer of land easements to a named private company (Gorodok Pty Ltd). The Act has effectively transformed from an enabling statute for a government enterprise into a transitional/winding-up instrument — a fundamentally different legislative purpose."},"complexity_factors":["Massive interpretation section in Part VA with approximately 30 defined terms, many of which are self-referential (e.g. 'transferring asset' is defined by reference to 'non-transferring asset' and vice versa)","Heavy cross-referencing throughout — sections routinely define themselves by reference to other sections (e.g. s.33C defines 'transferring asset' by reference to s.33F, which in turn refers back to s.33C)","Three layered conditional scenarios in s.28 (Financial policy) covering different combinations of pipeline construction and pipeline operation outcomes","Extensive interaction with external legislation — the Income Tax Assessment Act 1936 (multiple specific subdivisions and parts), the Corporations Act 2001, the Superannuation Acts 1976 and 1990, and the Moomba-Sydney Pipeline System Sale Act 1994","Capital gains tax provisions in ss.33X and 33Y involve hypothetical counterfactual calculations (what the indexed cost base 'would have been' had a different law applied)","The document itself appears to have been compiled with significant structural duplication — large blocks of text repeat multiple times, making the actual operative provisions difficult to isolate from the repetition","Override provisions in ss.33ZC and 33ZL that override all other Commonwealth and State/Territory laws and contracts, plus a deemed consent mechanism, adding a layer of legal fiction on top of substantive rules","Multiple distinct transfer mechanisms operating in parallel: one for the re-organisation subsidiary (Part VA), one for Gorodok easements (Part VB), each with their own definitions and procedural requirements","Staff transfer provisions (Division 4) involve nested conditions protecting accrued entitlements across different legal instruments, awards, and agreements","The Act is largely spent/historical, meaning readers must understand its context within the broader privatisation framework to make sense of any individual provision"],"plain_english_summary":"## What is this law about?\n\nThe **Pipeline Authority Act 1973** was the law that set up the federal government-owned **Pipeline Authority** — a Commonwealth body that built and operated the gas pipeline network running from **Moomba in South Australia to Sydney (and nearby regional towns) in New South Wales**.\n\nWhat you're reading today is what remains of that Act **after most of it was effectively wound up** following the privatisation (sale to private hands) of the pipeline system under the *Moomba–Sydney Pipeline System Sale Act 1994*. The original body — the Authority — no longer exists in any operational sense. The Act now serves mainly as a legal framework to **tie up the loose ends** of that privatisation.\n\n---\n\n## What does the surviving legislation actually do?\n\nThe Act, in its current form, covers four main areas:\n\n### 1. 💰 Finance rules (Part V)\nThese sections govern how the now-defunct Authority handled money — including:\n- How it could **borrow money** (with the Treasurer's approval, including in foreign currencies)\n- How the Commonwealth could **guarantee** (i.e., promise to cover) the Authority's debts if it couldn't pay\n- Rules about **bank accounts**, **investing surplus funds**, and **keeping proper accounts**\n- Obligations to pay **profits and dividends** back to the Commonwealth\n- Annual **auditing** by the Auditor-General (Australia's independent financial watchdog)\n- **Tax treatment** — the Authority was exempt from most state taxes, but subject to Commonwealth taxes (other than income tax)\n\n### 2. 🏗️ Re-organisation of the Authority's business (Part VA)\nThis is the most detailed part of the surviving law. It sets out how the Authority's business (excluding the main pipeline system, which was sold) was transferred to a **wholly-owned subsidiary company** (a company set up by and fully owned by the Authority) before the final wind-up. Key steps included:\n- The Minister picking a **\"re-organisation day\"** and nominating which subsidiary would receive the business\n- The **automatic transfer** (by operation of law, without needing individual contracts) of assets (things owned), liabilities (debts), contracts, and court cases to that subsidiary\n- Protecting **employees** — their jobs transferred on the same terms and conditions, with their prior service counting as if they'd always worked for the new company\n- Detailed rules on **capital gains tax** and other tax treatment of transferred assets, so the re-organisation didn't trigger unexpected tax bills\n\n### 3. 🔧 Transfer of easements to Gorodok (Part VB)\nAn **easement** is a legal right to use someone else's land (for example, the right to lay a pipeline under a property). This Part allowed specific easements related to the planned **Moomba-to-Botany pipeline** (a proposed new pipeline, separate from the existing one) to be transferred to a private company called **Gorodok Proprietary Limited**. This happened by ministerial notice in the Government Gazette (an official government publication), without needing individual property transactions.\n\n### 4. 📋 Winding-down obligations (s. 28)\nThe Authority was required to operate on **sound commercial principles** while it wrapped up its remaining activities — whether or not the new Moomba-Botany pipeline was ever built, and whether or not it kept running some transferred pipelines on behalf of others.\n\n---\n\n## Who does this affect?\n\nPractically speaking, this law **no longer affects most Australians** in any direct way. The Authority has been abolished. The law now matters mainly to:\n- **Legal and historical records** of the pipeline privatisation\n- **Gorodok Proprietary Limited** (in relation to the easements it received)\n- The **receiving subsidiary company** that took over the Authority's non-pipeline assets\n- Former **employees** of the Authority whose entitlements were protected by the transfer provisions\n- Anyone involved in **residual legal proceedings** from that era\n\n---\n\n## Why does it matter?\nThis Act is a textbook example of **winding-up legislation** — the legal machinery required to shut down a Commonwealth government business and transfer its pieces to the private sector in an orderly way. It was designed to ensure the privatisation was clean: no inadvertent tax hits, no breach of existing contracts, no gaps in employee entitlements, and a clear paper trail for all property transfers."},"issue_detection":{"absurdities":[{"type":"retroactive_impossibility","section":"Section 3(1)","severity":"high","reasoning":"Once the Authority ceased to exist post-repeal day, every operative provision in the Act that imposes duties on 'the Authority' becomes impossible to comply with. The Authority cannot keep accounts (s.31), maintain bank accounts (s.26), prepare estimates (s.28A), or be audited (s.32) if it no longer legally exists. The Act essentially defines its primary actor out of existence while leaving all its obligations intact.","confidence":0.9,"description":"The interpretation clause defines 'the Authority' as a reference to the Pipeline Authority 'as it was established by this Act before the repeal day' — meaning the Act defines its own primary subject matter as something that no longer exists. The Authority was abolished by the Moomba-Sydney Pipeline System Sale Act 1994, yet the remainder of the Act continues to impose obligations on it (keep accounts, maintain bank accounts, prepare estimates, etc.) as if it were still a going concern."},{"type":"self_contradicting","section":"Section 33ZK and Section 33Q","severity":"low","reasoning":"This is a logical quirk rather than a strict impossibility — it is legally coherent but logically amusing. The Authority is compelled by statute to diligently work toward its own abolition. The obligation persists even as the entity executing it progressively ceases to have assets or staff to carry it out.","confidence":0.85,"description":"Both s.33Q (Part VA) and s.33ZK (Part VB) impose mandatory obligations on 'the Authority' to take steps necessary to ensure those Parts are fully effective. However, the very purpose of those Parts is to divest the Authority of its assets and wind it down — meaning the Authority is legally obliged to actively facilitate its own elimination."},{"type":"impossible_compliance","section":"Section 33ZD(1)","severity":"medium","reasoning":"After the re-organisation day, all transferring assets vest in the receiving subsidiary by force of s.33H. The Authority retains only non-transferring assets (the Moomba-Sydney pipeline system). If compensation is owed for an acquisition connected with transferring assets, the Authority may be stripped of the very resources needed to pay. There is no provision redirecting the compensation obligation to the receiving subsidiary.","confidence":0.8,"description":"The compensation for unjust acquisition under Part VA is payable 'by the Authority' — but the entire purpose of Part VA is to strip the Authority of its assets. If the Authority's assets have all been transferred to the receiving subsidiary before compensation is assessed, the Authority may have no funds with which to pay the compensation it is legally obligated to provide."},{"type":"self_contradicting","section":"Section 33E(4)","severity":"medium","reasoning":"Subsection (3) expressly contemplates that a nominated subsidiary may cease to qualify and mandates revocation. Subsection (4) then says that 'proof of the fact that a body corporate was nominated' is conclusively taken to mean it was a qualifying subsidiary throughout. If s.33E(3) operates and the nomination is revoked, it is logically impossible for s.33E(4) to simultaneously treat that body as having remained a qualifying subsidiary 'at all times thereafter until the re-organisation day'. The deeming provision appears to swallow the revocation power.","confidence":0.75,"description":"Section 33E(4) creates an irrebuttable legal fiction that a nominated body corporate was always a qualifying subsidiary from the day of nomination until the re-organisation day — even if s.33E(3) required the Minister to revoke the nomination because the subsidiary ceased to qualify. These two subsections cannot coherently coexist: if the nomination was revoked under s.33E(3), the deeming provision in s.33E(4) would still treat the revoked nominee as a valid subsidiary for 'all purposes and in all proceedings'."},{"type":"other","section":"Section 33ZE — definition of 'Moomba-Botany pipeline'","severity":"medium","reasoning":"An easement is a legal interest in land tied to a dominant tenement. The dominant tenement here — the Moomba-Botany pipeline — is defined by reference to a future, contingent physical object ('when constructed'). Easements relating to a pipeline that does not yet exist and may never be constructed are of dubious legal substance. Part VB purports to transfer these prospective easements with immediate legal effect (s.33ZG), yet the subject matter of the easements may not materialise. This also intersects with s.28(1)(a) of Part V, which contemplates that pipeline construction 'is commenced by the Authority' as a live contingency — suggesting the pipeline's construction was far from certain.","confidence":0.8,"description":"The Moomba-Botany pipeline is defined as 'the pipeline that, when constructed, will carry gas from Moomba in South Australia to Botany in New South Wales.' Part VB then provides for the transfer of easements relating to this pipeline — but at the time of enactment (and drafting of these provisions) the pipeline did not yet exist. The Act transfers legal interests in a physical infrastructure asset that may never be built."},{"type":"other","section":"Section 33X(5)","severity":"low","reasoning":"The 12-month short-term CGT rule in s.33X(5) is measured against 'acquisition by the Authority' rather than acquisition by the receiving subsidiary. This means an asset held by the Authority for 11 months, transferred on re-organisation day, and immediately on-sold by the receiving subsidiary, would attract the short-term rule — even though the receiving subsidiary held it for zero days. The interaction is arguably intentional (to prevent gain-splitting) but creates an odd asymmetry where the subsidiary's CGT position is determined entirely by the Authority's holding period, a period during which the subsidiary had no ownership interest.","confidence":0.7,"description":"Section 33X(5) provides that if a transferred asset is disposed of by the receiving subsidiary 'within 12 months of its acquisition by the Authority,' a different cost base rule applies. But by definition under s.33X(1), the section only applies to assets acquired by the receiving subsidiary on the re-organisation day — meaning the relevant 12-month clock runs from when the Authority acquired the asset, not when the receiving subsidiary did. The receiving subsidiary could dispose of the asset on the re-organisation day itself and still have the 12-month rule apply if the Authority had acquired it less than 12 months earlier."},{"type":"retroactive_impossibility","section":"Section 28A","severity":"medium","reasoning":"This is a consequence of the same core absurdity as s.3(1) — the Act retains ongoing administrative obligations for a body that has been abolished. Annual estimates obligations are forward-looking and continuous; they cannot be satisfied by an entity that has ceased to exist. The Minister would have no one to direct and no estimates would ever arrive.","confidence":0.85,"description":"Section 28A requires the Authority to prepare estimates of receipts and expenditure for 'each financial year' and submit them by a date the Minister directs. Given s.3(1) defines the Authority as it existed before the repeal day, and the Sale Act 1994 effectively wound up the Authority, the obligation to prepare annual estimates continues to apply to an entity that no longer has receipts, expenditure, or staff to prepare them."}],"contradictions":[{"severity":"low","section_a":"Section 27(1)","section_b":"Section 27(2)","confidence":0.7,"description":"Section 27(1) provides that the Authority's moneys may only be applied in payment of costs, expenses and obligations under the Act, 'but not otherwise.' Section 27(2) then permits moneys 'not immediately required' to be invested. Investment is a distinct activity from paying costs and obligations and is not limited to purposes under the Act, yet it is expressly permitted. The 'but not otherwise' restriction in s.27(1) is therefore either overridden or made redundant by s.27(2), creating an internal tension about the permissible uses of the Authority's funds."},{"severity":"low","section_a":"Section 33(1)","section_b":"Section 33(2A)","confidence":0.65,"description":"Section 33(1) subjects the Authority to Commonwealth taxation (other than income tax). Section 33(2A) allows the Treasurer to exempt the Authority from stamp duty or similar taxes under Commonwealth law. Since stamp duty is a form of taxation under Commonwealth or State/Territory law, s.33(2A) carves out exceptions to the general liability imposed by s.33(1). The qualification 'subject to subsection (2A)' at the start of s.33(1) resolves the tension textually, but the substantive effect is that s.33(1)'s 'shall be subject to taxation' declaration can be entirely negated at the Treasurer's discretion, making the obligation in s.33(1) effectively illusory for stamp duty purposes."},{"severity":"high","section_a":"Section 33G (Part VA, Division 3)","section_b":"Section 33ZG (Part VB)","confidence":0.72,"description":"Section 33G vests the 'transferred business' (including transferring assets) in the receiving subsidiary on the re-organisation day. Section 33ZG separately vests easements relating to the Moomba-Botany pipeline in Gorodok on the respective transfer days. If any of the Moomba-Botany pipeline easements are also 'transferring assets' under Part VA (i.e., declared under s.33F), they could be simultaneously vested in both the receiving subsidiary (under s.33G/33H) and Gorodok (under s.33ZG), depending on the timing and content of the relevant notices. No priority rule or exclusion is provided."},{"severity":"medium","section_a":"Section 33E(3)","section_b":"Section 33E(4)","confidence":0.78,"description":"Section 33E(3) mandates that if a nominated subsidiary ceases to qualify before the re-organisation day, the Minister must revoke the nomination. Section 33E(4) provides an irrebuttable deeming provision that treats a nominated subsidiary as having qualified throughout the period from nomination to re-organisation day. If a revocation occurs under s.33E(3), s.33E(4) would still deem the revoked entity to have been a qualifying subsidiary for all purposes and in all proceedings — effectively rendering the revocation power in s.33E(3) nugatory in any legal proceeding."},{"severity":"medium","section_a":"Section 33ZC(1) (Part VA)","section_b":"Section 33ZL(1) (Part VB)","confidence":0.7,"description":"Both Part VA (s.33ZC) and Part VB (s.33ZL) declare that each respective Part 'has effect, and must be given effect to, in spite of anything in any other law of the Commonwealth or any law of a State or Territory.' Where both Parts operate simultaneously — e.g., in relation to easements connected to the Moomba-Sydney pipeline system area — there is no mechanism to resolve which Part prevails. Both claim absolute supremacy over other Commonwealth laws, including each other, without establishing any priority between them."},{"severity":"low","section_a":"Section 33ZK (Part VB)","section_b":"Section 33Q (Part VA)","confidence":0.65,"description":"Section 33Q requires the Authority to take all steps necessary to ensure Division 3 of Part VA is fully effective. Section 33ZK requires the Authority (and the Commonwealth) to take all steps necessary to ensure Part VB is fully effective. Where the two Parts create competing demands on the Authority's remaining resources, staff and time — particularly in a wind-down scenario — there is no order of priority or conflict-resolution mechanism between these two absolute obligations."}]}},"importantCases":[],"_links":{"self":"/api/acts/pipeline-authority-act-1973","history":"/api/acts/pipeline-authority-act-1973/history","analysis":"/api/acts/pipeline-authority-act-1973/analysis","conflicts":"/api/acts/pipeline-authority-act-1973/conflicts","importantCases":"/api/acts/pipeline-authority-act-1973/important-cases","documents":"/api/acts/pipeline-authority-act-1973/documents"}}