sec.2Definitions

### sec.2 Definitions In this Act— articles ... s 2 def articles om 2007 No. 10 s 4 (1) asset ... s 2 def asset om 1994 No. 31 s 17 (1) associate of a candidate GOC has the meaning given by section 22 . s 2 def associate ins 1994 No. 31 s 17 (2) associate subsidiary means a GOC Act entity declared by regulation to be a subsidiary of a candidate GOC associate. s 2 def associate subsidiary ins 1994 No. 31 s 17 (2) board of a GOC means the GOC’s board of directors. board of directors , for chapter 2 , part 6 , see section 68 . s 2 def board of directors ins 2007 No. 10 s 4 (2) borrow includes— raise money or credit; and obtain financial accommodation; and borrow in a foreign currency. candidate GOC has the meaning given by section 21 . Commonwealth tax means tax imposed under a Commonwealth Act. community service obligations has the meaning given by section 112 . company GOC ... s 2 def company GOC om 2007 No. 10 s 62 sch corporatisation has the meaning given by section 13 . corporatisation charter of a candidate GOC means— the draft corporatisation charter approved by the candidate GOC’s responsible Ministers as its corporatisation charter; or if the responsible Ministers approve an amendment of the corporatisation charter—the corporatisation charter as amended. department means department of government. dividend , for sections 135 to 137 , see section 134 . s 2 def dividend ins 2007 No. 10 s 4 (2) financial accommodation includes a financial benefit, or assistance to obtain a financial benefit, arising from or because of— a loan; or issuing, endorsing or otherwise dealing in promissory notes; or drawing, accepting, endorsing or otherwise dealing in bills of exchange; or issuing, purchasing or otherwise dealing in securities; or granting or taking a lease of any property for financing purposes; or another arrangement prescribed by regulation. GOC (or government owned corporation ) has the meaning given by section 5 . GOC Act entity means an entity established by a regulation under this Act. s 2 def GOC Act entity ins 1994 No. 31 s 17 (2) GOC Minister has the meaning given by section 6 . government company means a corporation incorporated under the Corporations Act all the stock or shares in the capital of which is or are beneficially owned by the State. s 2 def government company amd 2001 No. 45 s 29 sch 3 government entity has the meaning given by section 4 . government entity that is to become a company GOC ... s 2 def government entity that is to become a company GOC om 2007 No. 10 s 4 (1) government entity that is to become a GOC has the meaning given by section 23 (1) . government entity that is to become a statutory GOC ... s 2 def government entity that is to become a statutory GOC om 2007 No. 10 s 4 (1) government entity that is to become a subsidiary of a GOC has the meaning given by section 23 (2) . s 2 def government entity that is to become a subsidiary of a GOC amd 2007 No. 10 s 4 (3) instrument means an instrument of any kind, and includes, for example— a contract, deed, agreement, arrangement, understanding or undertaking; and a mandate, instruction, notice, authority or order; and a lease, licence, transfer, conveyance or other assurance; and a guarantee, bond, power of attorney, bill of lading, negotiable instrument or order for the payment of money; and a mortgage, charge, lien or security; whether express or implied and whether made or given orally or in writing. key principles of corporatisation has the meaning given by section 16 . lease includes— a lease, licence, charter or hiring arrangement of property; and an arrangement under which a right to use, operate or provide services in relation to property is granted by the owner to another person. memorandum ... s 2 def memorandum om 2007 No. 10 s 4 (1) portfolio Minister has the meaning given by section 6 . predecessor , for sections 135 to 137 , see section 134 . s 2 def predecessor ins 2007 No. 10 s 4 (2) proposed subsidiary of a GOC or candidate GOC means a government entity that is declared by regulation to be a proposed subsidiary of the GOC or candidate GOC. responsible Ministers — of a candidate GOC—see section 29 ; or of a candidate GOC associate—see section 30 . s 2 def responsible Ministers sub 1994 No. 31 s 17 ; 2007 No. 10 s 62 sch security includes inscribed stock, debenture, bond, debenture stock, note and any other document creating, evidencing or acknowledging indebtedness (whether or not constituting a charge on property). senior executive , of a GOC, includes the holder of an office in the GOC that reports directly to the GOC’s chief executive officer and that is commensurate with an office held by a senior executive under the Public Sector Act 2022 . s 2 def senior executive ins 1998 No. 21 s 4 amd 2008 No. 38 s 252 sch 3 ; 2022 No. 34 s 365 sch 3 share , in relation to a candidate GOC, a GOC or another corporation, means a share in the corporation’s share capital. shareholding Ministers , of a GOC, see section 78 . s 2 def shareholding Ministers amd 2007 No. 10 s 4 (4) sub 2007 No. 10 s 62 sch statement of corporate intent has the meaning given by section 7 . State tax means tax imposed under an Act. statutory GOC ... s 2 def statutory GOC om 2007 No. 10 s 62 sch statutory GOC closing time means the time at which the Government Owned Corporations Amendment Act 2007 , section 11 commences. s 2 def statutory GOC closing time ins 2007 No. 10 s 4 (2) subsidiary has the meaning given by the Corporations Act , and includes— for a GOC or candidate GOC—a government entity declared by regulation to be a subsidiary of the GOC or candidate GOC; and for a candidate GOC associate—a GOC Act entity declared by regulation to be a subsidiary of the associate. s 2 def subsidiary sub 1994 No. 31 s 17 amd 2001 No. 45 s 29 sch 3 tax includes any tax, fee, duty, levy or charge. terms of appointment or employment include terms relating to— remuneration and allowances; and duration of appointment or employment; and termination of appointment or employment. - (a) raise money or credit; and - (b) obtain financial accommodation; and - (c) borrow in a foreign currency. - (a) the draft corporatisation charter approved by the candidate GOC’s responsible Ministers as its corporatisation charter; or - (b) if the responsible Ministers approve an amendment of the corporatisation charter—the corporatisation charter as amended. - (a) a loan; or - (b) issuing, endorsing or otherwise dealing in promissory notes; or - (c) drawing, accepting, endorsing or otherwise dealing in bills of exchange; or - (d) issuing, purchasing or otherwise dealing in securities; or - (e) granting or taking a lease of any property for financing purposes; or - (f) another arrangement prescribed by regulation. - (a) a contract, deed, agreement, arrangement, understanding or undertaking; and - (b) a mandate, instruction, notice, authority or order; and - (c) a lease, licence, transfer, conveyance or other assurance; and - (d) a guarantee, bond, power of attorney, bill of lading, negotiable instrument or order for the payment of money; and - (e) a mortgage, charge, lien or security; - (a) a lease, licence, charter or hiring arrangement of property; and - (b) an arrangement under which a right to use, operate or provide services in relation to property is granted by the owner to another person. - (a) of a candidate GOC—see section 29 ; or - (b) of a candidate GOC associate—see section 30 . - (a) for a GOC or candidate GOC—a government entity declared by regulation to be a subsidiary of the GOC or candidate GOC; and - (b) for a candidate GOC associate—a GOC Act entity declared by regulation to be a subsidiary of the associate. - (a) remuneration and allowances; and - (b) duration of appointment or employment; and - (c) termination of appointment or employment.