53AAnnual reports of State-owned corporations and other bodies

53A Annual reports of State-owned corporations and other bodies

(1) This section applies to the following bodies—

S. 53A(1)(a) amended by No. 44/2001 s. 3(Sch. item 43.2).

(a) a corporation within the meaning of the Corporations Act (other than a State owned company within the meaning of the State Owned Enterprises Act 1992) all the shares in which are owned by or on behalf of the State or a statutory authority (whether or not a public statutory authority), whether directly or indirectly; and

(b) a body corporate declared by the Governor in Council under subsection (2) to be a body to which this section applies.

(2) The Governor in Council, by notice published in the Government Gazette, may declare a body corporate to be a body to which this section applies if—

(a) a member, or a member of the governing body, of the body corporate is appointed by the Governor in Council or a Minister; or

(b) the Governor in Council is satisfied that a primary object of the body corporate is to carry out a public function in relation to which it is registered, or holds a licence or other authority granted or issued, under an Act.

(3) The Governor in Council, by notice published in the Government Gazette, must declare a Minister to be the relevant Minister in relation to a body to which this section applies for the purposes of this section.

(4) A body to which this section applies must, as soon as practicable after the end of each financial year, submit to the relevant Minister of that body its annual report, including its audited financial statements, in respect of that financial year.

S. 53A(4A) inserted by No. 30/2025
s. 19A(1).

(4A) The relevant Minister must not direct the body to submit its annual report to the relevant Minister on a particular date.

S. 53A(5) substituted by No. 30/2025
s. 19A(2).

(5) Subject to subsections (6) and (7), the relevant Minister must cause the annual report to be transmitted to each House of the Parliament on or after the next following 15 October and before the earlier of—

(a) the next following 31 October; or

(b) either—

(i) the expiration of the fourth sitting day of that House after the annual report is received by the relevant Minister; or

(ii) if the first sitting day of a House of the Parliament after the annual report is received by the relevant Minister is more than 14 days after the date of receipt of the annual report, the expiration of the fourteenth day after the annual report is received by the relevant Minister.

S. 53A(5A) inserted by No. 30/2025 s. 19A(2).