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Infrastructure Investment (Asset Restructuring and Disposal) Act 2009
sec.11Project direction
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### sec.11 Project direction
The Minister may give a direction (a project direction ) to a declared entity or its board requiring the entity or board to do something the Minister considers necessary or convenient for effectively carrying out a declared project.
Without limiting subsection (1) , a project direction may be about—
forming a company for the purpose of transferring a business, asset or liability to the company; or
winding up or deregistering a company; or
making or executing an instrument; or
making a particular decision about disposing of an interest held in a declared entity or a business, asset or liability; or
making a particular decision for the purpose of returning the proceeds of a disposal mentioned in paragraph (d) to the State; or
a decision about a dividend or return of capital
disclosing information.
A project direction must be in writing, signed by the Minister.
A declared entity must comply with a project direction given to it.
A declared entity’s board must—
if a project direction is given to the board—comply with the direction; or
if a project direction is given to the entity—take the action necessary to ensure the entity complies with the direction.
A declared entity’s employees must help the entity or board to comply with a project direction given to the entity or board.
Despite subsection (1) , the Minister may not give a project direction to the Coordinator-General.
s 11 amd 2010 No. 11 s 86
(sec.11-ssec.1) The Minister may give a direction (a project direction ) to a declared entity or its board requiring the entity or board to do something the Minister considers necessary or convenient for effectively carrying out a declared project.
(sec.11-ssec.2) Without limiting subsection (1) , a project direction may be about— forming a company for the purpose of transferring a business, asset or liability to the company; or winding up or deregistering a company; or making or executing an instrument; or making a particular decision about disposing of an interest held in a declared entity or a business, asset or liability; or making a particular decision for the purpose of returning the proceeds of a disposal mentioned in paragraph (d) to the State; or a decision about a dividend or return of capital disclosing information.
(sec.11-ssec.3) A project direction must be in writing, signed by the Minister.
(sec.11-ssec.4) A declared entity must comply with a project direction given to it.
(sec.11-ssec.5) A declared entity’s board must— if a project direction is given to the board—comply with the direction; or if a project direction is given to the entity—take the action necessary to ensure the entity complies with the direction.
(sec.11-ssec.6) A declared entity’s employees must help the entity or board to comply with a project direction given to the entity or board.
(sec.11-ssec.7) Despite subsection (1) , the Minister may not give a project direction to the Coordinator-General.
- (a) forming a company for the purpose of transferring a business, asset or liability to the company; or
- (b) winding up or deregistering a company; or
- (c) making or executing an instrument; or
- (d) making a particular decision about disposing of an interest held in a declared entity or a business, asset or liability; or
- (e) making a particular decision for the purpose of returning the proceeds of a disposal mentioned in paragraph (d) to the State; or Example— a decision about a dividend or return of capital
- (f) disclosing information.
- (a) if a project direction is given to the board—comply with the direction; or
- (b) if a project direction is given to the entity—take the action necessary to ensure the entity complies with the direction.