What it does
The Coal Industry Act 2001 (NSW) is a machinery statute that replaced two long-standing statutory corporations—the Joint Coal Board (constituted under the Coal Industry Act 1946 (Cth) and (NSW)) and the Mines Rescue Board (constituted under the repealed Mines Rescue Act 1994)—with a privatised, industry-governed model of service delivery for the New South Wales coal sector.
At its core the Act does four things. First, it effects immediate dissolution and transfer: on the “dissolution date” (the day s 4(1) of the Commonwealth Coal Industry Repeal Act 2001 commenced) the Joint Coal Board is dissolved in so far as it existed under NSW law (s 5(1)), its assets, rights and liabilities vest automatically in the Ministerial Holding Corporation (s 6(1)), and the Minister may then gazette their onward transfer to one or more approved companies (s 7). The Mines Rescue Board is separately dissolved with its undertaking transferred directly to the mines rescue company (s 8 and Sch 3).
Second, the Act creates a Ministerial approval regime for “approved companies”. Under s 9 the Minister may approve a company registered under the Corporations Act 2001 (Cth) only if (a) it is owned in equal shares by the Mining and Energy Union (MEU) and the NSW Minerals Council or is a wholly-owned subsidiary of an already approved company, (b) its constitution contains the entrenchment and Ministerial-control clauses set out in Sch 5, and (c) at least one approved company’s objects include administration of superannuation schemes under the Coal and Oil Shale Mine Workers (Superannuation) Act 1941. No more than one company may be approved to perform the mines rescue function (s 9(3)(c)) or the workers compensation function (s 9(3)(d)). Once approved, the company’s functions are those listed in its Gazette notice plus any ancillary powers (ss 10–11).