{"id":"south-australian-timber-corporation-sale-of-assets-act-1996","name":"South Australian Timber Corporation (Sale of Assets) Act 1996","slug":"south-australian-timber-corporation-sale-of-assets-act-1996","collection":"act","jurisdiction":"sa","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":110148,"registerId":"sa-south-australian-timber-corporation-sale-of-assets-act-1996-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"South Australian Timber Corporation (Sale of Assets) Act 1996","content":"South Australia\nSouth Australian Timber Corporation (Sale of Assets) Act 1996\nAn Act to provide for privatisation of the South Australian Timber Corporation; and for other purposes.\n\nContents\nPart 1—Preliminary\n1\tShort title\n3\tInterpretation\n4\tTerritorial operation of Act\nPart 2—Sale of assets\n5\tSale of assets and liabilities\n6\tTransferred instruments\n7\tLegal proceedings\n8\tRegistering authorities to note transfer\n9\tStamp duty and financial institutions duty\n10\tEvidence\n11\tSaving provision\nPart 3—Preparation for sale of assets\n12\tPreparation for disposal of assets and liabilities\n13\tProtection for disclosure and use of information etc\n14\tEvidence\nPart 4—Miscellaneous\n15\tAct to apply despite Real Property Act 1886\n16\tInteraction between this Act and other Acts\nSchedule 1—Staff and superannuation\n1\tInterpretation\n2\tSuperannuation—State Scheme contributors who have reached the age of 55 years\n3\tState Scheme contributors who have not reached the age of 55 years\n4\tNon-application of certain provisions of the Superannuation Act 1988\n5\tExtension of time\n6\tArrangement under section 5 Superannuation Act 1988\n7\tTransfer of Forwood employees\nSchedule 2—Transitional provisions\n2\tBuilding and development work regarded as complying\nLegislative history\n\nThe Parliament of South Australia enacts as follows:\nPart 1—Preliminary\n1—Short title\nThis Act may be cited as the South Australian Timber Corporation (Sale of Assets) Act 1996.\n3—Interpretation\nIn this Act, unless the contrary intention appears—\nasset means—\n\t(a)\ta present, contingent or future legal or equitable estate or interest in real or personal property; or\n\t(b)\ta present, contingent or future right, power, privilege or immunity,\n(and includes a present or future cause of action in favour of the Corporation, Forwood or a Forwood Subsidiary);\nauthorised project—see section 12(1);\nCorporation means the South Australian Timber Corporation established under the South Australian Timber Corporation Act 1979;\nForwood means Forwood Products Pty Ltd (ACN 008 089 727);\nForwood Subsidiary means—\n\t(a)\tInternational Panel and Lumber (Australia) Pty Ltd; or\n\t(b)\tInternational Panel and Lumber (New Zealand) Limited; or\n\t(c)\tIPL (Marketing) Limited;\nliability means a present, contingent or future liability or obligation (including a non-pecuniary obligation and a present or future cause of action against the Corporation, Forwood or a Forwood Subsidiary);\nparticipating bodies corporate means—\n\t(a)\tthe Corporation; or\n\t(b)\tForwood; or\n\t(c)\ta Forwood Subsidiary;\ntransferred asset means an asset transferred to a purchaser, Forwood or a Forwood Subsidiary under Part 2;\ntransferred liability means a liability transferred to a purchaser, Forwood or a Forwood Subsidiary under Part 2.\n4—Territorial operation of Act\n\t(1)\tThis Act applies both within and outside the State.\n\t(2)\tThis Act applies outside the State to the full extent of the extra-territorial legislative power of the State.\nPart 2—Sale of assets\n5—Sale of assets and liabilities\n\t(1)\tWhile the Corporation continues to have a controlling interest in Forwood, the Treasurer may by agreement (a sale agreement) with another (the purchaser) transfer to the purchaser assets and liabilities of the Corporation, Forwood or the Forwood Subsidiaries.\n\t•\tThere may be two or more agreements relating to different assets and liabilities with the same purchaser or with different purchasers.\n\t(2)\tA sale agreement under subsection (1) may incidentally provide for the transfer of assets and liabilities between participating bodies corporate (even though they are not parties to the agreement).\n\t(3)\tA sale agreement vests the relevant assets and liabilities in accordance with its terms.\n\t(4)\tOn the vesting of an asset under a sale agreement, the asset is discharged from the trust in favour of the Crown.\n\t(5)\tIf a sale agreement so provides, a charge to which a transferred asset is subject ceases to apply to the asset on its transfer under the sale agreement.\n\t(6)\tThe transfer of an asset or liability under this section operates by force of this Act and despite the provisions of any other law or instrument.\n\t(7)\tThe transfer to a purchaser of a liability under this section operates to discharge the Corporation, Forwood and the Forwood Subsidiaries from the liability.\n\t(8)\tThe transfer of a liability to Forwood or a Forwood Subsidiary under this section operates to discharge the Corporation from the liability.\n\t(9)\tThe Treasurer—\n\t(a)\tmay apply the net proceeds of a sale under this section in discharging or recouping outstanding liabilities of the Corporation, Forwood and the Forwood Subsidiaries; and\n\t(b)\tmust pay the balance to the Asset Management Task Force Operating Account at the Treasury to be used for the purpose of retiring State debt.\n6—Transferred instruments\n\t(1)\tA sale agreement may provide that instruments identified in the agreement, or to be identified as provided by the agreement, are to be transferred instruments.\n\t(2)\tIf an instrument is identified in, or under, a sale agreement as a transferred instrument, the instrument operates, as from a date specified in the sale agreement, subject to any modifications specified in the sale agreement.\n7—Legal proceedings\nSubject to any contrary provision in a sale agreement, legal proceedings that had been commenced before the vesting of assets and liabilities under a sale agreement may be continued and completed by or against the Corporation, Forwood or Forwood Subsidiaries.\n8—Registering authorities to note transfer\nThe Registrar-General or any other authority required or authorised under a law of the State to register or record transactions affecting assets or liabilities, or documents relating to such transactions, must, on application by the Treasurer or a person nominated by the Treasurer for the purpose, register or record the transfer of an asset or liability under this Act.\n9—Stamp duty and financial institutions duty\n\t(1)\tNo stamp duty is payable under a law of the State in respect of the transfer of assets or liabilities of the Corporation to Forwood or a Forwood Subsidiary under this Act.\n\t(2)\tNo financial institutions duty is payable under a law of the State in respect of money received in respect of the transfer of assets or liabilities of the Corporation to Forwood or a Forwood Subsidiary under this Act.\n\t(3)\tNo person has an obligation under the Stamp Duties Act 1923 to lodge a statement or return relating to the transfer of assets and liabilities of the Corporation to Forwood or a Forwood Subsidiary or to include information about the transfer in a statement or return.\n10—Evidence\n\t(1)\tThe Treasurer or a person authorised by the Treasurer to give certificates under this section may issue a certificate certifying that—\n\t(a)\ta specified asset or liability has, or has not, been transferred to a specified purchaser under this Part; or\n\t(b)\ta specified asset or liability has, or has not, been transferred to Forwood or a specified Forwood Subsidiary under this Part; or\n\t(c)\ta specified instrument is, or is not, a transferred instrument under a particular sale agreement and, if it is a transferred instrument, is to be read subject to specified modifications.\n\t(2)\tAn apparently genuine document that appears to be a certificate under this section must be accepted by courts, arbitrators, persons acting judicially, and administrative officials as evidence of the matters certified.\n11—Saving provision\nNothing done or allowed in accordance with this Part or a sale agreement—\n\t(a)\tconstitutes a breach of, or default under, an Act or other law; or\n\t(b)\tconstitutes a breach of, or default under, a pre-existing contract, agreement, understanding or undertaking; or\n\t(c)\tconstitutes a breach of a duty of confidence that arises by contract, in equity, by custom or in any other way; or\n\t(d)\tconstitutes a civil or criminal wrong; or\n\t(e)\tterminates an agreement or obligation or fulfils a condition that allows a person to terminate an agreement or obligation; or\n\t(f)\trequires any third party consent or approval under a contract, agreement or security; or\n\t(g)\tgives rise to any other right or remedy.\nPart 3—Preparation for sale of assets\n12—Preparation for disposal of assets and liabilities\n\t(1)\tThe following actions (collectively referred to as the authorised project) are authorised:\n\t(a)\tthe examination of the undertaking of each of the Corporation, Forwood and the Forwood Subsidiaries with a view to the disposal of their respective assets and liabilities;\n\t(b)\tthe preparation of assets and liabilities of each of the Corporation, Forwood and the Forwood Subsidiaries for disposal or any other necessary or appropriate action in anticipation of disposal of those assets and liabilities;\n\t(c)\tother action that the Treasurer authorises, after consultation with the Corporation, Forwood and the Forwood Subsidiaries, in preparation for, or anticipation of, disposal of their respective assets and liabilities.\n\t(2)\tThe authorised project is to be carried out by—\n\t(a)\tpersons employed by the Crown and assigned to work on the project; and\n\t(b)\tofficers of the Corporation and Forwood assigned to work on the project; and\n\t(c)\tother persons whose services are engaged by the Crown or the Corporation and Forwood for the purpose of carrying out the project; and\n\t(d)\tother persons approved by the Treasurer whose participation or assistance is, in the opinion of the Treasurer, reasonably required for the purposes of the project.\n\t(3)\tThe Treasurer (or the Treasurer's delegate) may, despite any other law, authorise purchasers or prospective purchasers and their agents to have access to information in the possession or control of the Corporation, Forwood or a Forwood Subsidiary that should, in the Treasurer's opinion (or the delegate's opinion), be made available to the purchasers or prospective purchasers for the purposes of the authorised project.\n\t(4)\tThe members, directors and staff of the Corporation, Forwood or a Forwood Subsidiary must, despite any other law, instrument, contract or undertaking—\n\t(a)\tallow persons engaged on the authorised project access to information in the possession or control of the Corporation, Forwood or the Forwood Subsidiary (as applicable) that is reasonably required for, or in connection with, the carrying out of the authorised project; and\n\t(b)\tdo whatever is necessary to facilitate the provision of the information to persons entitled to access to the information under subsection (3); and\n\t(c)\tprovide other co-operation, assistance and facilities that may be reasonably required for, or in connection with, the carrying out of the authorised project.\n\t(5)\tA person who is in a position to grant or refuse access to information to which this section relates may deny access to a person who seeks access to the information unless the person produces a certificate issued by the Treasurer (or the Treasurer's delegate) certifying that the person is entitled to access to information under this section and the basis of the entitlement.\n13—Protection for disclosure and use of information etc\n\t(1)\tIn this section—\nauthorised action means—\n\t(a)\tthe disclosure or use of information in the possession or control of—\n\t(i)\tthe Corporation, Forwood or a Forwood Subsidiary; or\n\t(ii)\ta current or former member or director of the Corporation, Forwood or a Forwood Subsidiary or staff of the Corporation or Forwood; or\n\t(iii)\tpersons involved in the authorised project,\nas reasonably required for, or in connection with, the carrying out of the authorised project; or\n\t(b)\tanything done or allowed under this Act.\n\t(2)\tNo authorised action—\n\t(a)\tconstitutes a breach of, or default under, an Act or other law; or\n\t(b)\tconstitutes a breach of, or default under a contract, agreement, understanding or undertaking; or\n\t(c)\tconstitutes a breach of a duty of confidence (whether arising by contract, in equity, by custom, or in any other way); or\n\t(d)\tconstitutes a civil or criminal wrong; or\n\t(e)\tterminates an agreement or obligation, or fulfils any condition that allows a person to terminate an agreement or obligation, or gives rise to any other right or remedy; or\n\t(f)\treleases a surety or other obligee wholly or in part from an obligation.\n14—Evidence\n\t(1)\tIn legal proceedings, a certificate of the Treasurer (or the Treasurer's delegate) certifying that action described in the certificate forms part of the authorised project, or that a person named in the certificate was at a particular time engaged on the authorised project, must be accepted as proof of the matter so certified in the absence of proof to the contrary.\n\t(2)\tAn apparently genuine document purporting to be a certificate under subsection (1) must be accepted as such in the absence of proof to the contrary.\nPart 4—Miscellaneous\n15—Act to apply despite Real Property Act 1886\nThis Act applies despite the provisions of the Real Property Act 1886 or any other law.\n16—Interaction between this Act and other Acts\n\t(1)\tA transaction under this Act is not subject to the Land and Business (Sale and Conveyancing) Act 1994.\n\t(2)\tNo consent, approval or authorisation is required under Part 4 of the Development Act 1993 for a transaction under this Act.\nSchedule 1—Staff and superannuation\n1—Interpretation\nIn this Schedule—\ncomplying superannuation fund means a complying superannuation fund within the meaning of Part IX of the Income Tax Assessment Act 1936 of the Commonwealth, as amended from time to time, other than the Fund under the Superannuation Act 1988;\nemployee includes officer;\nnew scheme contributor has the meaning given by the Superannuation Act 1988;\nnominated employer, in relation to a transferring employee, means a person nominated by or under a sale agreement made under this Act as the nominated employer of the transferring employee;\nold scheme contributor has the meaning given by the Superannuation Act 1988;\non-going employment, in relation to a transferring employee, means the employment by a nominated employer of the transferring employee after the transfer date;\nState Scheme means the Scheme within the meaning of the Superannuation Act 1988;\nState Scheme contributor means a contributor within the meaning of the Superannuation Act 1988;\nSuperannuation Board means the South Australian Superannuation Board constituted under the Superannuation Act 1988;\ntransfer date, in relation to a transferring employee, means the date nominated by or under a sale agreement made under this Act as the transfer date in relation to the transferring employee;\ntransferring employee means an employee nominated as a transferring employee by or under a sale agreement made under this Act.\n2—Superannuation—State Scheme contributors who have reached the age of 55 years\n\t(1)\tA State Scheme contributor who is a transferring employee and who has reached the age of 55 years as at the transfer date is taken for the purposes of the Superannuation Act 1988—\n\t(a)\tto have continued in the employment of Forwood until his or her on-going employment is terminated for any reason; and\n\t(b)\tto have elected to make and to have made no contribution to the State Scheme after the transfer date.\n\t(2)\tA State Scheme contributor who is a transferring employee and who has reached the age of 55 years as at the transfer date, is, on termination of his or her on-going employment for any reason other than death—\n\t(a)\ttaken for the purposes of the Superannuation Act 1988 (but for no other purpose) to have retired from Forwood on the date of that termination; and\n\t(b)\tentitled to a benefit under either section 34 or 27 (as may be appropriate) of the Superannuation Act 1988 (as modified under subclause (6)); and\n\t(c)\tin the case of a new scheme contributor—entitled to a further benefit under section 32A of the Superannuation Act 1988.\n\t(3)\tWhere an old scheme contributor who is a transferring employee and who has reached the age of 55 years as at the transfer date dies on or after the transfer date, a benefit must be paid in accordance with section 38 of the Superannuation Act 1988 (as modified under subclause (6)).\n\t(4)\tWhere a new scheme contributor who is a transferring employee and who has reached the age of 55 years as at the transfer date dies on or after the transfer date while in on-going employment, a benefit must be paid in accordance with section 32 of the Superannuation Act 1988 (as modified by subclause (6)).\n\t(5)\tWhere a new scheme contributor who is a transferring employee and who has reached the age of 55 years as at the transfer date dies on or after the transfer date while in on-going employment, a further benefit must be paid pursuant to section 32A of the Superannuation Act 1988.\n\t(6)\tFor the purposes of subclauses (2), (3) and (4)—\n\t(a)\tthe item FS wherever appearing in sections 32(3) and 34 of the Superannuation Act 1988 has the following meaning:\nFS is the contributor's actual or attributed salary (expressed as an amount per fortnight) immediately before the transfer date adjusted to reflect changes in the Consumer Price Index from the transfer date to the date of termination of the contributor's on-going employment; and\n\t(b)\tthe item FS wherever appearing in sections 27, 32(2), 32(3a), 32(5) and 38 of the Superannuation Act 1988 has the following meaning:\nFS is the contributor's actual or attributed salary (expressed as an annual amount) immediately before the transfer date adjusted to reflect changes in the Consumer Price Index from the transfer date to the date of termination of the contributor's on-going employment; and\n\t(c)\tsection 32(3a)(a)(I)(B) of the Superannuation Act 1988 applies as if amended to read as follows:\n\t(B)\tan amount equivalent to twice the amount of the contributor's actual or attributed salary (expressed as an annual amount) immediately before the transfer date adjusted to reflect changes in the Consumer Price Index from the transfer date to the date of termination of the contributor's on-going employment; and\n\t(d)\tsection 34(5) of the Superannuation Act 1988 applies as if amended to read as follows:\n\t(5)\tThe amount of a retirement pension will be the amount calculated under this section or 75% of the contributor's actual or attributed salary (expressed as an amount per fortnight) immediately before the transfer date adjusted to reflect changes in the Consumer Price Index from the transfer date to the date of termination of the contributor's on-going employment (whichever is the lesser).; and\n\t(e)\tthe expressions transfer date and on-going employment in the above provisions have the same meanings as in this Schedule.\n\t(7)\tDespite the above provisions of this section, within one month after the transfer date, a State Scheme contributor who has reached the age of 55 years as at the transfer date may elect, by notice in writing to the Superannuation Board—\n\t(a)\tin the case of an old scheme contributor—to receive a benefit under section 39A of the Superannuation Act 1988; and\n\t(b)\tin the case of a new scheme contributor—to receive a benefit under section 27 of that Act.\n\t(8)\tIf a State Scheme contributor makes an election under subclause (7)—\n\t(a)\tthe contributor becomes entitled to a benefit under the relevant provision of the Superannuation Act 1988 in accordance with the election (and subclauses (1) to (6) of this clause do not apply to the contributor); and\n\t(b)\ton receipt of the relevant benefit, the contributor ceases to be a State Scheme contributor.\n3—State Scheme contributors who have not reached the age of 55 years\n\t(1)\tWithin one month after the transfer date, a transferring employee who has not reached the age of 55 years as at the transfer date and who is an old scheme contributor may elect by notice in writing to the Superannuation Board, either—\n\t(a)\tto have his or her accrued superannuation benefits preserved under section 39 of the Superannuation Act 1988; or\n\t(b)\tto receive a benefit under section 39A of that Act.\n\t(2)\tIf a transferring employee who is an old scheme contributor fails to make an election under subclause (1) within one month after the transfer date, the employee is taken to have made an election under subclause (1)(a).\n\t(3)\tWithin one month after the transfer date, a transferring employee who has not reached the age of 55 years as at the transfer date and who is a new scheme contributor may elect by notice in writing to Superannuation Board—\n\t(a)\tto have his or her accrued superannuation benefits preserved under section 28 of the Superannuation Act 1988; or\n\t(b)\tto receive a benefit under section 28A of that Act; or\n\t(c)\tto carry over accrued superannuation benefits to some other complying superannuation fund.\n\t(4)\tIf a transferring employee who is a new scheme contributor fails to make an election under subclause (3) within one month after the transfer date, the employee is taken to have made an election under subclause (3)(a).\n\t(5)\tIf a State Scheme contributor makes an election under subclause (1)(a) or (3)(a), the contributor will be taken for the purposes of the Superannuation Act 1988 to have elected under section 39 or 28 of that Act (whichever may apply to the contributor) to preserve accrued benefits (and the relevant section will apply subject to this Schedule).\n\t(6)\tDespite the provisions of section 39 or 28 of the Superannuation Act 1988 (whichever may apply to the contributor), where accrued benefits are preserved under that section in respect of a transferring employee who is a State Scheme contributor, those benefits do not become payable until the employee—\n\t(a)\tceases to be in on-going employment and reaches the age of 55 years; or\n\t(b)\tdies; or\n\t(c)\tbecomes totally and permanently incapacitated for work and ceases to be in on-going employment.\n\t(7)\tIf a State Scheme contributor makes an election under subclause (1)(b) or (3)(b), the contributor will be taken for the purposes of the Superannuation Act 1988 to have become entitled to a benefit under section 39A or 28A of that Act (whichever may apply to the contributor).\n\t(8)\tIf a new scheme contributor makes an election under subclause (3)(c), a payment must be made on behalf of the new scheme contributor to a complying superannuation fund nominated by the contributor and approved by the Superannuation Board of an amount under section 28(5) of the Superannuation Act 1988.\n\t(9)\tOn the making of a payment under subclause (7) or (8), the contributor concerned ceases to be a State Scheme contributor.\n\t(10)\tIf a new scheme contributor makes an election under subclause (3)(a) or (c), a further benefit must be paid pursuant to section 32A of the Superannuation Act 1988 (and for the purposes of that section a complying superannuation fund will be regarded as an approved superannuation fund or scheme).\n\t(11)\tFor the purposes of this clause—\n\t(a)\tthe items AFS and FS wherever appearing in sections 28(4), 28(5) and 39(3) of the Superannuation Act 1988 mean the contributor's actual or attributed salary (expressed as an annual amount) immediately before the transfer date adjusted to reflect changes in the Consumer Price Index from the transfer date to the date of termination of the contributor's on-going employment; and\n\t(b)\tsection 39(6)(b) of the Superannuation Act 1988 applies as if amended to read as follows:\n\t(b)\tthe contributor's actual or attributed salary for the purposes of calculating the pension were that salary immediately before the transfer date adjusted to reflect changes in the Consumer Price Index between the transfer date and the date on which the pension first became payable;; and\n\t(c)\tthe expressions transfer date and on-going employment in the above provisions have the same meanings as in this Schedule.\n4—Non-application of certain provisions of the Superannuation Act 1988\nThe provisions of Parts 4 and 5 of the Superannuation Act 1988 apply to transferring employees only to the extent that they are made applicable by this Schedule.\n5—Extension of time\nIf the Superannuation Board is of opinion that a limitation period referred to in this Schedule would unfairly prejudice a State Scheme contributor, the Board may extend the period as it applies to the contributor.\n6—Arrangement under section 5 Superannuation Act 1988\nThe Treasurer may, by order in writing, vary or terminate the arrangement with Forwood in force under section 5 of the Superannuation Act 1988 immediately before the commencement of this clause.\n7—Transfer of Forwood employees\nA transfer of an employee of Forwood to the employment of a nominated employer does not constitute a retrenchment or redundancy.\nSchedule 2—Transitional provisions\n2—Building and development work regarded as complying\nAll building and development work carried out on land of the Corporation by the Crown, the Corporation, Forwood or a Forwood Subsidiary before the commencement of this Act will be regarded as complying with the statutory and regulatory requirements applicable at the time the work was carried out.\nLegislative history\nNotes\n\t•\tFor further information relating to the Act and subordinate legislation made under the Act see the Index of South Australian Statutes or www.legislation.sa.gov.au.\nLegislation amended by principal Act\nThe South Australian Timber Corporation (Sale of Assets) Act 1996 amended the following:\nSouth Australian Timber Corporation Act 1979\nPrincipal Act\nYear\nNo\nTitle\nAssent\nCommencement\n1996\n17\nSouth Australian Timber Corporation (Sale of Assets) Act 1996\n24.4.1996\n30.5.1996 except Sch 2 cl 1—1.7.1996 (Gazette 30.5.1996 p2635)\nProvisions amended\nNew entries appear in bold.\nEntries that relate to provisions that have been deleted appear in italics.\nProvision\nHow varied\nCommencement\nLong title\namended under Legislation Revision and Publication Act 2002\n\nPt 1\n\n\ns 2\nomitted under Legislation Revision and Publication Act 2002\n\nSch 2\n\n\ncl 1\nomitted under Legislation Revision and Publication Act 2002\n\n","sortOrder":0}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"issue_detection":{"absurdities":[],"contradictions":[]},"kimi_summary":{"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"The Act remains focused on its original purpose: facilitating the privatisation of the South Australian Timber Corporation. While it contains detailed superannuation provisions and various legal protections, these are ancillary mechanisms necessary to effect the sale rather than scope creep. The Act has not expanded beyond its core privatisation function."},"complexity_factors":["Extensive cross-referencing to the Superannuation Act 1988, with multiple sections modified by Schedule 1 (e.g., sections 27, 28, 28A, 32, 32A, 34, 38, 39, 39A)","Nested conditional logic in superannuation provisions: different rules based on age threshold (55 years), scheme type (old vs new), and election choices, with default provisions if no election made","17 defined terms in section 3 alone, plus additional defined terms in Schedule 1 (complying superannuation fund, nominated employer, on-going employment, etc.)","Modification of external legislation via 'as if amended' provisions in clauses 2(6) and 3(11) of Schedule 1, requiring readers to mentally reconstruct amended text","Interaction clauses (section 16) specifying exemptions from other Acts (Land and Business Act, Development Act)","Territorial operation clause claiming extra-territorial application to the full extent of State power","Multiple 'despite any other law' provisions creating overrides of general legal principles","Certificate-based evidence provisions creating rebuttable presumptions (sections 10 and 14)"],"plain_english_summary":"**What this law does:**\n\nThis Act privatises the South Australian Timber Corporation (SATC), a government-owned business that managed timber assets. It creates a legal framework for selling off the corporation's assets and liabilities to private buyers, and deals with the messy aftermath for employees and ongoing legal obligations.\n\n**Key things it covers:**\n\n*   **The sale itself:** The Treasurer can negotiate agreements to transfer assets (property, rights, contracts) and liabilities (debts, obligations) from the SATC and its related companies (Forwood Products and subsidiaries) to private purchasers. These transfers happen automatically by force of law, overriding other legal obstacles.\n\n*   **Protection from legal headaches:** The Act shields everyone involved from lawsuits or breaches of contract that might normally arise from transferring government assets to private hands. It also wipes out certain charges or restrictions on assets when they're sold.\n\n*   **Due diligence:** Before the sale, the Treasurer can force the corporation and its subsidiaries to hand over confidential information to potential buyers, overriding normal privacy laws and employment duties.\n\n*   **Employee superannuation:** This is the most complex part. Workers aged 55+ get special treatment—they're treated as still employed by the government for pension purposes even after moving to the private buyer. Younger workers must choose within a month whether to preserve their government super benefits, cash them out, or transfer them to a private fund. If they don't choose, they're automatically locked into preservation.\n\n*   **Tax breaks:** No stamp duty or financial institutions duty is payable on these transfers.\n\n*   **Legal shortcuts:** Land transfers don't need normal conveyancing approvals, and building work done by the corporation is deemed compliant with regulations.\n\n**Who it affects:**\n\n*   The South Australian Government (specifically the Treasurer)\n*   The South Australian Timber Corporation and its subsidiaries\n*   Private companies buying the assets\n*   Employees of these businesses, particularly regarding their superannuation entitlements\n*   Anyone with legal claims or contracts involving these entities\n\n**Why it matters:**\n\nThis is a classic 'privatisation statute'—it uses extraordinary legal powers to dismantle a public asset. It overrides normal property laws, contract rights, and privacy protections to make the sale possible. The superannuation provisions are particularly significant because they protect older workers' pension rights while forcing younger ones to make irreversible decisions about their retirement savings within a tight deadline."},"flash_summary":{"complexity_score":5,"scope_assessment":{"changed":false,"description":"The Act remains focused on enabling the privatisation (sale) of the South Australian Timber Corporation's assets and liabilities and on handling the legal, evidentiary and employee superannuation consequences of that sale. It does not substantially expand beyond those objectives; the main content is procedural and transitional arrangements (sale mechanics, information access, registration, duty exemptions, and employee superannuation treatment). There is no material scope creep beyond the original purpose of facilitating disposal of the Corporation's assets and managing related legal and staff issues."},"complexity_factors":["Short Act length but multiple parts and two schedules (statutory and transitional complexity)","Several key defined terms in s3 and Schedule 1 (asset, liability, participating bodies corporate, transferred instrument, transferring employee, transfer date, State Scheme contributor)","Extensive cross‑references to the Superannuation Act 1988 in Schedule 1 with specific amendments and CPI indexing rules (many external references and formula adjustments)","Broad discretionary powers vested in the Treasurer (sale agreements, authorising project participants, certification) creating conditional pathways","Multiple saving and ouster clauses (s11, s13, s15) that override other laws and contracts — creates legal interaction complexity","Procedural provisions requiring action by third parties (registrars to note transfers under s8) paired with evidentiary certificates (s10, s14)","Exemptions from other State regulatory regimes (stamp duty s9, Land and Business Act and Development Act s16) producing a mix of statutory carve‑outs","Conditional employee choices with time limits (one‑month election windows in Schedule 1) and optional elections that change legal status","Provisions operate extra‑territorially (s4) which can complicate jurisdictional and enforcement questions"],"plain_english_summary":"**What this law does (mechanically)\n\n- Authorises the Treasurer to sell or transfer assets and liabilities of the South Australian Timber Corporation, Forwood Products Pty Ltd (Forwood) and specified Forwood subsidiaries to one or more purchasers by agreement (sale agreement). (See s5)\n- Makes any transfer under a sale agreement effective by force of this Act — it vests assets and transfers liabilities despite other laws, instruments or third‑party consents. (See s5(3), s5(6), s15)\n- Treats a transferred liability as discharged for the Corporation and (where specified) for Forwood or its subsidiaries. (See s5(7)–(8))\n- Allows a sale agreement to identify and modify particular legal instruments (contracts, charges, licences) so they operate as \"transferred instruments\" on terms stated in the agreement. (See s6)\n- Requires land and other registering authorities to record transfers on application by the Treasurer or the Treasurer's nominee. (See s8)\n- Exempts transfers of assets to Forwood or its subsidiaries from State stamp duty and financial institutions duty, and removes related lodgement obligations. (See s9)\n- Provides that certificates issued by the Treasurer (or delegate) are evidence in legal and administrative proceedings of who or what was transferred and of who took part in the pre‑sale preparation. (See s10, s14)\n- Creates a statutory \"authorised project\" permitting examination and preparation of the Corporation/Forwood undertakings and permitting prospective purchasers and agents to access information needed for the sale; it requires Corporation/Forwood staff and officers to cooperate and supply information despite other laws or confidentiality obligations. (See s12)\n- Protects actions taken under the authorised project and other authorised actions from being treated as breaches of other laws, contracts, duties of confidence or civil/criminal wrongs. (See s11, s13)\n- Excludes transactions under this Act from certain other State sale/conveyancing and development consent regimes. (See s16)\n- Sets transitional and staff/superannuation rules for employees who transfer to private employers: it prescribes how State superannuation rights are preserved, paid, or converted (including CPI indexing of certain salary bases), provides election windows for employees, and treats transfers as not constituting retrenchment/redundancy. (See Schedule 1)\n- Directs that the Treasurer may use the net proceeds of sale to discharge outstanding liabilities of the Corporation/Forwood and must pay any balance into the Asset Management Task Force Operating Account to be used for retiring State debt. (See s5(9))\n\nWho it affects\n\n- The South Australian Timber Corporation, Forwood Products Pty Ltd and three named subsidiaries (\"participating bodies corporate\"). (Interpretation)\n- Any purchaser(s) who enter sale agreements with the Treasurer. (See s5)\n- Employees who are \"transferring employees\" named in a sale agreement — their superannuation entitlements and options are governed by Schedule 1. (Schedule 1)\n- Registering authorities (e.g. land titles office) who must note transfers on application. (See s8)\n- Prospective purchasers, their agents and advisers who are given access to information during the authorised project. (See s12)\n- Third parties (creditors, counterparties, guarantors) whose rights may be affected because the Act can transfer assets or liabilities and disapply some contract/consent requirements. (See s5(6), s11)\n\nWhy it matters (stated purpose and the immediate trade‑offs and mechanisms)\n\n- Purpose (as stated in the Act): to enable privatisation by transferring assets and liabilities of the State‑owned timber enterprise to private parties and to manage the legal and administrative effects of that transfer. (Long title; s5)\n\n- Fiscal mechanism and who pays: purchasers pay consideration under sale agreements; the Treasurer may use the net proceeds to pay outstanding liabilities of the Corporation/Forwood and must remit any surplus to the State account specified for retiring State debt. This converts future public revenue/capacity into immediate cash for debt reduction. (See s5(9))\n\n- Concentrated benefits vs diffuse costs: the immediate financial benefit is captured by the State via sale proceeds; private purchasers receive asset ownership and operational control. The Act mechanically limits some third‑party remedies and consent requirements (s11), which can accelerate and simplify transfers for a purchaser but may shift risk or costs to counterparties or creditors.\n\n- Discretion and administrative control: the Treasurer has wide powers — to enter sale agreements, to nominate purchasers or employers for transferring employees, to authorise access to otherwise confidential information, and to certify facts as evidence in proceedings (s5, s12, s10). That concentrates decision rights in the Executive branch and reduces procedural barriers to completing sales, but increases reliance on ministerial/departmental judgment.\n\n- Effects on private enterprise and competition: ownership and control of timber assets may move into private hands; the Act removes certain statutory impediments (e.g. planning consents, s16) and stamp duty on transfers to Forwood or its subsidiaries (s9). These features lower transaction costs for the buyer and speed transfers; they may also change competitive dynamics in the timber market depending on the purchaser(s).\n\n- Employee rights and costs to new employers: Schedule 1 sets specific transitional superannuation treatments (preservation, conversion, CPI adjustments to salary bases, election windows). Employers who become \"nominated employers\" will receive employees who are not to be treated as retrenched (Sch 1 cl 7) but whose superannuation treatment is partly prescribed by the State. This reduces uncertainty about legacy obligations but constrains some contractual freedom for the parties. (See Schedule 1)\n\nImplementation and legal risks to note\n\n- The Act overrides other laws and contractual terms (s5(6), s11, s15). That makes transfers legally effective but may produce litigation from affected third parties arguing statutory construction, or raise constitutional or extra‑territorial enforcement questions (the Act asserts extra‑territorial operation, s4).\n- Evidence shortcuts (Treasurer certificates accepted unless disproved) make administrative closure easier but could incentivise challenges about the correctness or authenticity of certificates in closely contested cases (s10, s14).\n- Broad definitions (e.g. \"asset\", \"liability\", \"authorised project\") and open‑ended discretion to authorise participants in the project (s12(2)(d)) increase legal uncertainty about the outer limits of the Act's application and who may access confidential information.\n- The stamp duty and development consent exemptions (s9, s16) reduce predictable transaction costs but shift regulatory checks away from the sale process.\n\nNet functional effect\n\n- The Act converts statutory ownership and control of timber assets into a framework that allows the Treasurer to sell those assets and determine the associated legal, evidentiary and employee‑related consequences. It prioritises legal finality for transfers and administrative facilitation (information access, duty exemptions, registration steps) over preserving existing procedural or contractual barriers.\n\n(References in parentheses indicate the relevant sections or Schedule clauses.)"},"summary":{"complexity_score":1,"scope_assessment":{"changed":false,"description":"Scope cannot be assessed as the legislative text was not available. Based on title alone, the Act appears narrowly focused on a single transaction-type purpose — the sale of assets of a specific government corporation — which is typical of privatisation legislation of the era and unlikely to have drifted significantly from its original intent. However, this cannot be confirmed without the actual text."},"complexity_factors":["No legislative content was retrievable — the source URL returned a 404 Page Not Found error","Analysis is based solely on the Act's title, preventing any meaningful assessment of actual legal complexity","Cannot assess definitively: number of provisions, cross-references to other legislation, regulatory mechanisms, definitional complexity, or transitional arrangements"],"plain_english_summary":"The South Australian Timber Corporation (Sale of Assets) Act 1996 is a state law from 1996 that authorised or facilitated the sale of assets held by the government-owned South Australian Timber Corporation. It affected the corporation’s employees, prospective buyers, local communities and industries reliant on timber operations, and South Australian taxpayers through the privatisation of public assets."}},"importantCases":[],"_links":{"self":"/api/acts/south-australian-timber-corporation-sale-of-assets-act-1996","history":"/api/acts/south-australian-timber-corporation-sale-of-assets-act-1996/history","analysis":"/api/acts/south-australian-timber-corporation-sale-of-assets-act-1996/analysis","conflicts":"/api/acts/south-australian-timber-corporation-sale-of-assets-act-1996/conflicts","importantCases":"/api/acts/south-australian-timber-corporation-sale-of-assets-act-1996/important-cases","documents":"/api/acts/south-australian-timber-corporation-sale-of-assets-act-1996/documents"}}