This law establishes Tasmanian Irrigation Pty Ltd to develop, own and operate irrigation schemes and provides for the automatic transfer of assets, contracts and employees from the Rivers and Water Supply Commission and TIS Corporation, and for transfers between the Company, the Crown and councils (ss 3,7,29–31,30). It sets corporate governance and reporting rules, makes the Minister and Treasurer the Company’s only members with written-direction powers, and subjects borrowing, guarantees and payments to Treasury oversight (ss 9,13,13A,13E,15–17,16; Minister transfer/ delegation powers ss 30,38).
This Act creates and governs Tasmanian Irrigation Pty Ltd (the Company), transfers functions, assets, liabilities and employees from the Rivers and Water Supply Commission and TIS Corporation to the Company, and provides the statutory framework for the Company’s corporate governance, financial controls and interactions with Crown and local government assets. The Act sets the Company’s principal objectives (s 7), requires the constitution to include those objectives and be consistent with the Act (s 8), and prescribes the members of the Company (the Minister and the Treasurer) (s 9). It provides for the transfer of the Commission’s and TIS Corporation’s assets, liabilities and contracts to the Company on the transfer day (s 29), and for transfer of Crown and council assets and liabilities by transfer notice (s 30). It preserves continuity of permits and licences held immediately before transfer and deals with employee secondments and employment arrangements (s 31; Schedule 1).
The Act embeds public-sector governance controls and financial constraints. The Auditor-General is appointed auditor of the Company (s 14). Borrowing is limited to the Tasmanian Public Finance Corporation unless the Treasurer approves otherwise in writing (s 15). The Treasurer may provide guarantees or indemnities on written request by the Company subject to conditions and payment from Parliamentary appropriations (s 16). Treasurer’s Instructions and provisions of the Government Business Enterprises Act 1995 (GBE Act) apply to the Company and its subsidiaries in specified ways (ss 17, 18, 35A). The Act also imposes reporting, corporate planning and accountability obligations on the Board and members, including a members’ statement of expectations (s 13), a statement of corporate intent (s 13E), corporate plan obligation (s 25), and multiple reporting and publication duties (ss 26, 26A, 26B, 26C).
Current sections
Direct links to the current provisions in Irrigation Company Act 2011.
(1) Part 1 and sections 30 , 31 , 39 and 40 commence on the day on which this Act receives the Royal Assent.
(2) The remaining provisions of this Act commence on the transfer day.
3
Purposes of Act
3 Purposes of Act
The purposes of this Act are –
(a) to provide for matters relating to the control, objects and operation of the Company; and
(b) to provide for the transfer to the Company of the assets and liabilities of the Rivers and Water Supply Commission and TIS Corporation and to make provision in respect of the employees of the Rivers and Water Supply Commission and TIS Corporation consequent on the transfer of those assets and liabilities; and
(c) to allow for the transfer to the Company of certain assets and liabilities of the Crown and councils; and
(d) to allow for the transfer of assets and liabilities of the Company to the Crown.
4
Interpretation
4 Interpretation
In this Act, unless the contrary intention appears –
annual general meeting means the annual general meeting of the Company held in accordance with its constitution;
asset includes any, and any part of any, property, business, operation and right;
Board means the Board of Directors of the Company;
council asset or liability means an asset or liability belonging to a council that is specified in a transfer notice and transferred to the Company under section 30 ;
Crown asset or liability means an asset or liability belonging to the Crown that is specified in a transfer notice and transferred to the Company under section 30 ;
director means a director of the Company;
document includes an instrument and part of a document;
effective transfer notice day means the day on which a transfer notice, or part of a transfer notice, takes effect;
legal or other proceeding includes arbitration proceedings and mediation proceedings;
liability includes any, or any part of any, liability, duty and obligation, whether actual, contingent or prospective;
member, in respect of the Company, means a member of the Company referred to in section 9 ;
principal objectives means the principal objectives of the Company specified in section 7 ;
property means –
(a) any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property; and
(b) money, documents and securities; and
(c) any other rights and property;
regulations means regulations made under section 39 ;
relevant day of transfer means –
(a) the transfer day in relation to –
(i) a transferring asset, transferring liability or transferring contract transferred under section 29 ; or
(ii) a transferring employee; or
(b) the day on which a transfer notice takes effect in relation to a transferring asset, transferring liability or transferring contract transferred by that transfer notice under section 30 ;
right includes any easement in gross, covenant in gross, other right, power, privilege and immunity, whether actual, contingent or prospective;
secondment arrangement means an arrangement under section 46 of theState Service Act 2000 for a State Service employee or State Service officer to undertake duties with the Commission or TIS Corporation;
subsidiary has the same meaning as in the Corporations Act;
(a) in relation to any asset, liability or contract transferred from the Commission, TIS Corporation, the Crown, a council or the Company and vested in, or transferred to, the Company or the Crown under section 29 or 30 , means the Commission, TIS Corporation, the Crown, the council or the Company; or
(b) in relation to a transferring employee, means the Commission or TIS Corporation, whichever the transferring employee performed duties for immediately before the transfer day;
transfer recipient means –
(a) the Company in relation to –
(i) an asset, liability or contract vested in or transferred to it under section 29 or 30 ; or
(ii) a transferring employee; or
(b) the Crown in relation to any asset, liability or contract vested in or transferred to it under section 30 ;
transferring asset means any asset that vests in the Company or the Crown under section 29 or 30 ;
transferring contract means any contract transferred to the Company or the Crown under section 29 or 30 ;
transferring employee means a State Service employee or State Service officer who, immediately before the transfer day, was the subject of a secondment arrangement by which he or she was required to undertake duties with the Commission or TIS Corporation;
transferring liability means any liability that becomes the liability of the Company or the Crown under section 29 or 30 ;
[Section 4 Amended by No. 18 of 2025, s. 28, Applied:01 Jan 2026]wholly-owned subsidiary, in relation to the Company, means a subsidiary of the Company that falls within the definition of wholly-owned subsidiary, within the meaning of the Corporations Act, in respect of the Company.
5
Application of Act to subsidiary
5 Application of Act to subsidiary
If the Company arranges for any of its functions to be performed by a subsidiary, the application of this Act applies to, and in respect of –
(a) the subsidiary as if it were the Company; and
(b) the directors, and Board of Directors, of the subsidiary as if they were the directors, and Board of Directors, of the Company.
6
Transfer day
6 Transfer day
(1) The Minister, by order made before 1 July 2011, may declare a day later than that day to be the transfer day.
(a) is to provide to the Minister a copy of the constitution of the Company as soon as practicable after the commencement of this Act; and
(b) is to provide to the Minister a copy of an amendment to the constitution of the Company as soon as practicable after that amendment is made.
(4) The Minister is to cause a copy of the constitution of the Company and each amendment to that constitution to be laid before each House of Parliament within 7 sitting-days of receiving it from the Company under subsection (3) .
9
Members of Company
9 Members of Company
(1) The members of the Company are to be 2 persons of whom –
(1) Shares in the Company held by the members are held in trust for the Crown.
(2) A member of the Company who holds shares in trust for the Crown is not to acquire shares in the Company for his or her own benefit.
(3) Any shares acquired in the Company in contravention of subsection (1) are taken to be held in trust for the Crown but the Crown is not liable to meet the cost of that acquisition.
11
Consideration for further shares
11 Consideration for further shares
The consideration for any further shares issued to the members of the Company after the commencement of this section is to be any one or more of the following as agreed between the Company and its members:
(a) any money provided by Parliament for that purpose;
(b) any assets vested in the Company under section 29 or 30 ;
(1) A member of a Company must not sell or otherwise dispose of shares held by that member in trust for the Crown.
(2) A member of a Company must not vote at a meeting of the shareholders of the Company to allow the Company to –
(a) offer shares in the Company for subscription; or
(b) invite persons to subscribe for shares in the Company; or
(c) allot or issue shares in the Company on a basis other than to existing shareholders pro rata to their existing shareholding.
(3) If an Act intends to amend or repeal subsection (1) , that Act is of no effect unless a motion that approves the proposed amendment or repeal has first been passed by at least two-thirds of the members of each House of Parliament.
(4) For the avoidance of doubt, if there is an inconsistency between this section and the constitution, this section prevails to the extent of the inconsistency.
12
Status of Company
12 Status of Company
(1) Unless this or any other Act expressly provides otherwise, the Company –
(a) is not, and does not represent, the Crown; and
(b) is not exempt from any rates, tax, duty or other impost under any law merely because the Crown has beneficial ownership of shares in it; and
(c) is not subject or entitled to any prerogative right or privilege of the Crown.
(1) The members are to provide the Board with a statement of expectations.
(2) The statement of expectations is to specify –
(a) the expectations of the members in relation to the strategic priorities of the Company; and
(b) the policy expectations of the members for the performance of the Company and its subsidiaries.
(3) The members, at any time, may at their own discretion or on the application of the Board –
(a) amend the statement of expectations; or
(b) revoke the statement of expectations and substitute another statement of expectations.
(4) Before or while preparing a statement of expectations or an amendment to a statement of expectations, the members are to consult with the Board.
(5) A statement of expectations and an amendment to a statement of expectations are to be in writing and signed by each member.
(6) A statement of expectations, or an amendment to a statement of expectations, takes effect on a day specified in it, being a day not earlier than the day on which the statement or amendment is provided to the Company.
(7) The Minister must cause a copy of the statement of expectations, or of an amendment to a statement of expectations, to be laid before each House of Parliament within 10 sitting-days after the statement or amendment has been signed as required by subsection (5) .
(1) The members may give a direction to the Company or a wholly-owned subsidiary of the Company.
(2) Before the members give a direction under subsection (1) to the Company or a wholly-owned subsidiary, the members are to notify the Company or wholly-owned subsidiary in writing that –
(a) the members intend to give the direction on the matter specified in the notification; and
(b) the Company or wholly-owned subsidiary has the period specified in the notification to provide information to the members in respect of the specified matter.
(3) A direction given to the Company, or a wholly-owned subsidiary, under subsection (1) –
(a) may be given even if the direction is contrary to –
(i) the constitution; or
(ii) a statement of expectations under section 13 in force in respect of the Company or subsidiary; or
(iii) the statement of corporate intent under section 13E in force in respect of the Company or subsidiary; or
(iv) Treasurer’s Instructions in force in respect of the Company or subsidiary; or
(v) if the direction is given to a wholly-owned subsidiary, the constitution of the subsidiary; or
(vi) if the Company or subsidiary provided information in respect of the direction in accordance with subsection (2) , that information; and
(b) may not be given if the direction is contrary to the provisions of this Act or another Act of this State or the Commonwealth.
(4) The members may, by written notice to the Company or a subsidiary at any time, amend or revoke a direction given to the Company or subsidiary under subsection (1) –
(a) at their own discretion; or
(b) on the written request of the Board or the subsidiary board; or
(c) as a result of an objection made under section 13B in respect of the direction.
(5) As soon as practicable after a direction is given under subsection (1) , or amended or revoked under subsection (4) , the members must ensure that a written copy of the direction so given, or a copy of the written notice given for an amendment or revocation of a direction –
(a) is signed, and dated, by each member; and
(b) is given to the Board or the subsidiary board.
(6) A direction given under subsection (1) , or an amendment or revocation of such a direction under subsection (4) , takes effect –
(a) on the day on which a copy of the direction, or a copy of the written notice of the amendment or revocation, is given to the relevant board under subsection (5) ; or
(b) on such later date as is specified in the direction or notice of the amendment or revocation.
(7) The Company, or a wholly-owned subsidiary, must comply with each direction given to the Company or subsidiary under this section.
(8) It is a defence in proceedings for an offence under any Act, if the defendant establishes that the act, or omission, that is the basis of the offence was a result of complying with a direction, or purported direction, given under this section.
(1) Within 21 days after receiving a copy of a direction, or a copy of a written notice of an amendment or revocation of such a direction, under section 13A(5) , the Board or the subsidiary board may object to the direction, or its amendment or revocation, on any ground.
(3) If the members receive an objection under subsection (1) in respect of a direction –
(a) the members, within 10 days after receiving the objection, are to notify the relevant board, in writing, that the members –
(i) intend to amend or revoke the direction in accordance with section 13A ; or
(ii) do not intend to amend or revoke the direction; and
(b) if the members notify the relevant board under paragraph (a)(i) that the direction is to be amended or revoked, the direction is of no effect until it is so amended or revoked; and
(c) if the members notify the relevant board under paragraph (a)(ii) that the direction is not to be amended or revoked –
(i) the Minister must cause a copy of the objection to be tabled in each House of Parliament within 5 sitting-days after the members received the objection; and
(ii) if the Minister fails to table a copy of the objection under this paragraph, the direction is void.
(1) If a copy of a direction, or a copy of the written notice of an amendment or revocation of such a direction, is given to the Board or a subsidiary board under section 13A(5) , the Minister must table a copy of the direction, or of the written notice, in each House of Parliament within 7 sitting-days after the direction or notice is so given.
(2) Despite subsection (1) , within 5 days after a board receives a copy of a direction or a copy of a written notice under section 13A(5) , the relevant board may make a written request to the members that the direction, or written notice of an amendment or revocation of a direction, should not be tabled under subsection (1) .
(3) A board may only make a request under subsection (2) if the board is of the opinion that the tabling of the direction or written notice may –
(a) disadvantage or cause damage to the Company or a subsidiary, whether directly or indirectly; or
(b) enable another person, whether directly or indirectly, to gain an unreasonable advantage; or
(c) constitute a breach of confidentiality; or
(d) prejudice an investigation into –
(i) misconduct or possible misconduct; or
(ii) an offence, or possible offence, against this Act.
(4) If the members are satisfied that a direction, or written notice of an amendment or revocation of a direction, should not be tabled under subsection (1) for a reason specified in subsection (3) –
(a) subsection (1) does not apply in respect of the direction, the amendment or the revocation; and
(b) the Minister must table a statement that the direction has been given, or that written notice of an amendment or revocation has been given, in each House of Parliament within 7 sitting-days after the direction or notice is given to the relevant board under section 13A .
(5) In the report prepared by the Board in respect of the Company and its subsidiaries for a financial year, the Board must publish –
(i) each direction, given to the Board or a subsidiary board under section 13A , that was in effect in respect of the Company or a subsidiary during the financial year; and
(ii) each revocation of a direction that was given to the Board or a subsidiary board, under section 13A , during the financial year; or
(b) if the Minister has tabled a statement under subsection (4) in respect of a direction, or the amendment or revocation of a direction, given to the Board or a subsidiary board under section 13A in respect of the financial year – a copy of the statement.
13D
Duty to notify members of compliance with directions
13D Duty to notify members of compliance with directions
[Section 13D Inserted by No. 18 of 2025, s. 31, Applied:01 Jan 2026] If the Board or a subsidiary board is given a direction under section 13A in respect of the Company or its subsidiary, the relevant board must notify the members, in writing, of the progress of the Company, or subsidiary, in complying with the direction –
(a) at the intervals specified in the direction; and
(b) when, in the opinion of the relevant board, the Company or subsidiary has complied with the direction in full.
relevant financial year, in relation to a statement of corporate intent of the Company, means the financial year during which the statement is to be in force in respect of the Company.
(2) Before the commencement of each financial year, the Board must prepare a statement of corporate intent, in respect of the Company and its subsidiaries, that is to be in force for that financial year.
(3) A statement of corporate intent of the Company must not disclose any information that the Board considers –
(a) may, if disclosed –
(i) disadvantage or cause damage to the Company or its subsidiaries, either directly or indirectly; or
(ii) enable another person, either directly or indirectly, to gain an advantage; or
(b) may otherwise be unlawful, or inappropriate, to disclose publicly.
(4) A draft of a statement of corporate intent prepared under this section in respect of the Company is to –
(a) relate to the Company and its subsidiaries; and
(b) be consistent with each of the following:
(i) the statement of expectations in respect of the Company and its subsidiaries that is in force under section 13 ;
(ii) each direction under section 13A that is in effect in respect of the Company and its subsidiaries;
(iii) the Treasurer’s Instructions that are in force in respect of the Company and its subsidiaries; and
(c) be in a form, and contain the information, specified in the Treasurer's Instructions; and
(d) be provided to the members before –
(i) 31 March in the financial year immediately preceding the relevant financial year; or
(ii) such later day, being a day before the commencement of the relevant financial year, as approved by the members.
(5) After receiving a draft statement of corporate intent under subsection (4)(d) , the members may –
(a) request that the Board make changes to the draft statement of corporate intent before it is approved under this section; or
(b) approve the draft statement of corporate intent if satisfied that –
(i) the statement complies with this section; and
(ii) the statement does not disclose information in contravention of subsection (3) .
(6) A statement of corporate intent approved under this section in respect of the Company –
(a) takes effect on the day on which it is approved by the members under subsection (5)(b) ; and
(b) while it remains in force, is to be published on a website operated by, or on behalf of, the Company, so that it is freely available to members of the public.
(7) The Board may amend, or substitute, the statement of corporate intent for the Company at any time.
(8) An amendment to a statement of corporate intent, or a substitute statement of corporate intent, for the Company takes effect –
(a) on the day on which it is approved by the members; or
(b) on such later day as is specified in the amended or substituted statement of corporate intent.
Division 2
Financial affairs of Company
Division 2 Financial affairs of Company
14
Audit
14 Audit
The Auditor-General is to act as the auditor for the Company.
15
Borrowing
15 Borrowing
The Company is not to borrow from any person other than the Tasmanian Public Finance Corporation except as otherwise approved by the Treasurer in writing.
16
Guarantee or indemnity
16 Guarantee or indemnity
(1) On the written request of the Company, the Treasurer, in writing, may guarantee or give an indemnity, or guarantee and give an indemnity, in relation to –
(b) the performance of an obligation undertaken by the Company or which the Company has agreed to undertake (whether that obligation is monetary or otherwise).
(a) applies in relation to the Company as if the Company were a Government Business Enterprise specified in Schedule 3 to that Act; and
(b) applies in relation to a subsidiary of the Company as if the subsidiary were a subsidiary within the meaning of the Government Business Enterprises Act 1995 .
(2) The Company is not to establish a superannuation scheme but may make contributions to one or more superannuation schemes that comply with the law of the Commonwealth relating to superannuation.
prescribed employee means a person who, immediately before becoming an employee of the Company, was a transferring employee or a State Service employee or State Service officer.
(2) If immediately before the transfer day a prescribed employee was an employee within the meaning of the Long Service Leave (State Employees) Act 1994 , the prescribed employee continues to be such an employee while employed by the Company and, for that purpose, the Company is taken to be a prescribed authority within the meaning of that Act.
(2) The Treasurer, by notice provided to the Company, may specify that the Company is not to enter into or deal in a financial arrangement as provided by, or in the circumstances specified in, the notice.
(3) The Company must not enter into or deal in a financial arrangement in contravention of a notice provided under subsection (2) .
(4) The Board must ensure that any financial arrangement entered into, or dealt in, by the Company is entered into and performed, or dealt in, in accordance with the Treasurer's Instructions.
22
Effect of Financial Agreement Act 1994
22 Effect of Financial Agreement Act 1994
If, under section 5(1) of theFinancial Agreement Act 1994 , the Treasurer requires the Company to do or refrain from doing anything for the purpose of implementing the Agreement, within the meaning of that Act, the Company is to comply with that requirement.
Division 3
Duties of members, Board and Company
Division 3 Duties of members, Board and Company
23
Directors of Company
23 Directors of Company
(1) Subject to subsection (2) , the members of the Company are to ensure that it has a Board of Directors who have the experience and skills necessary to enable the Company to achieve its objectives.
(2) The members of the Company are to ensure that one of the directors has experience or expertise in irrigation agriculture and may, for that purpose, seek nominations from such body of persons as, in the opinion of those members, best represents the common interests of Tasmanian farmers and graziers.
(3) The members of the Company are to appoint the Board in accordance with the constitution.
(1) The Board is to prepare a corporate plan each financial year and submit it to the members in accordance with the Treasurer's Instructions.
(2) The corporate plan is to be prepared in the context of the statement of expectations provided to the Board under section 24 .
(3) The Company is to comply with the corporate plan.
26
Accounts and report of Company
26 Accounts and report of Company
(1) The Board is to provide the members with a copy of each of the following reports for the Company:
(a) the annual financial report;
(b) the directors' report;
(c) the auditor's report.
(2) The Minister is to cause to be laid before each House of Parliament each copy provided to him or her under subsection (1) within 7 sitting-days after receiving it.
(1) Before 28 February in each financial year, the Board must –
(a) prepare a report on the performance of the Company, and its subsidiaries, for the first 6 months of the financial year; and
(b) give a copy of the report to the members.
(2) A report prepared under subsection (1) is to be in a form, and contain the information, specified in the Treasurer’s Instructions.
(3) Within 7 days after giving a copy of a report to the members under subsection (1) , the Board must publish a copy of the report on a website maintained by, or on behalf of, the Company so that it is freely available to members of the public.
(4) Despite subsection (3) , the Board may omit a part of a report prepared under subsection (1) before publishing the report under subsection (3) , if the Board is of the opinion that publishing the report, without omitting that part, may –
(a) disadvantage or cause damage to the Company or its subsidiaries, whether directly or indirectly; or
(b) enable another person, whether directly or indirectly, to gain an unreasonable advantage; or
(c) constitute a breach of confidentiality; or
(d) prejudice an investigation into –
(i) misconduct or possible misconduct; or
(ii) an offence, or possible offence, against this Act.
(5) If the Board does not publish part of a report under subsection (3) , for a reason specified in subsection (4) , the Board must include, with the report published in accordance with subsection (3) , a statement that part of the report has been omitted under this section before being so published.
26B
Duty to notify members of adverse circumstances
26B Duty to notify members of adverse circumstances
governing documents, in relation to the Company, includes –
(a) the statement of expectations in force in respect of the Company and its subsidiaries under section 13 ; and
(b) each direction under section 13A in effect in respect of the Company and its subsidiaries; and
(c) the statement of corporate intent under section 13E in force in respect of the Company and its subsidiaries; and
(d) the corporate plan in force in respect of the Company under section 25 ; and
(e) the Treasurer’s Instructions in force in respect of the Company and its subsidiaries.
(2) The Board must notify the members, in writing, of any development which, in the opinion of the Board, may –
(a) prevent or significantly affect the achievement of the objectives, for the Company or its subsidiaries, as specified in the governing documents of the Company; or
(b) significantly affect the financial viability or operating ability of –
(i) the Company and its subsidiaries; or
(ii) any partnership, trust, joint venture or arrangement for the sharing of profits in which the Company or its subsidiaries participate; or
(c) prevent the Company or its subsidiaries from complying with a direction given to the Company, or a subsidiary, under section 13A ; or
(d) significantly affect the ability of the Company or its subsidiaries to comply with a direction given to the Company, or a subsidiary, under section 13A ; or
(e) otherwise significantly affect the Company, or its subsidiaries, in any manner.
(3) A notification under subsection (2) in respect of a development is to be made as soon as possible after the Board becomes aware of the development.
(1) As soon as practicable after the commencement of this section, the Board is to prepare a framework that specifies the principles and practices that are to be applied in respect of the provision of sponsorship by the Company and its subsidiaries.
(a) must be prepared in accordance with, and must reflect, any Treasurer’s Instructions issued in respect of sponsorship; and
(b) must include –
(i) the prescribed provisions; and
(ii) provisions that relate to prescribed matters; and
(c) is to reflect contemporary standards, and best-practice principles, that apply in relation to sponsorship; and
(d) may include such other matters as the Board considers relevant.
(3) The Board is to ensure that, as far as is reasonably practicable, there is always a framework in force under this section in respect of the Company and its subsidiaries.
(4) As soon as practicable after a framework under this section comes into force, the Board is to ensure that –
(a) a copy of the framework is published on a website maintained by, or on behalf of, the Company; and
(b) as far as is reasonably practicable, the framework remains so published while it is in force.
Division 4
Non-commercial activities
Division 4 Non-commercial activities
27
Non-commercial activities
27 Non-commercial activities
(1) The members may direct the Company to do one or more of the following:
(a) to perform an activity that the members consider to be in the public interest but that may cause the Company to suffer financial detriment;
(b) to cease to perform such an activity;
(c) to cease to perform an activity that the Company is otherwise entitled to perform if the members consider that the activity is not in the public interest.
(2) A direction is to be in writing provided to the Company.
(3) The Company is to comply with a direction.
(4) If the Company satisfies the members that it has, or will, suffer financial detriment as a result of complying with a direction, the Company is entitled to compensation or payment for compliance with the direction in the amount determined by the Treasurer.
(5) A reference in this section to suffering financial detriment includes a reference to incurring net costs that are greater than would have been incurred if the Company had not complied with the direction.
Part 3
Acquisition of and Entry on Land
Part 3 Acquisition of and Entry on Land
28
Acquisition of land
28 Acquisition of land
(1) The Company is an acquiring authority for the purposes of the Land Acquisition Act 1993 and, as such, may acquire land under that Act.
(b) may enter into, or acquire the benefit of, a covenant in gross within the meaning of section 90AB of that Act.
Part 4
Transfer of Assets, &c., and Employees to or from Company
Part 4 Transfer of Assets, &c., and Employees to or from Company
29
Transfer to Company of assets, liabilities and contracts of Commission and TIS Corporation
29 Transfer to Company of assets, liabilities and contracts of Commission and TIS Corporation
(1) In this section –
contract means a contract, agreement, arrangement, undertaking or part of a contract, agreement, arrangement or undertaking, but does not include a contract of employment;
contract of employment includes –
(a) a secondment arrangement; and
(b) an appointment as a director of the Commission or TIS Corporation; and
State tax means any of the following if imposed by any Act or law of Tasmania:
(a) a fee, including an application fee and registration fee;
(b) a tax, including a duty;
(c) a charge.
(2) On the transfer day –
(a) the assets of the Commission and TIS Corporation vest in the Company without the need for any further conveyance, transfer, assignment or assurance; and
(b) the rights and liabilities of the Commission and TIS Corporation become the rights and liabilities of the Company without the need for any further conveyance, transfer, assignment or assurance; and
(c) the contracts made or entered into by the Commission or TIS Corporation, or both, but not performed, executed, discharged or otherwise terminated, before the transfer day are transferred to the Company; and
(d) the Commission and TIS Corporation cease to be parties to a contract referred to in paragraph (c) .
(3) For the purposes of subsection (2)(a) , the share of TIS Corporation held by the Commission is not an asset of the Commission.
(4) On and after the transfer day –
(a) a contract referred to in subsection (2)(c) is taken to have been made or entered into by the Company; and
(b) a reference to the Commission or TIS Corporation, or both, in a contract referred to in subsection (2)(c) is taken to be or include, as appropriate, a reference to the transfer recipient.
(5) State tax is not payable in respect of any document prepared to give effect to subsection (2) .
30
Transfer of assets, &c., to or from Crown or council by transfer notice
30 Transfer of assets, &c., to or from Crown or council by transfer notice
(1) In this section –
contract means a contract, agreement, arrangement, undertaking or part of a contract, agreement, arrangement or undertaking, but does not include a contract of employment;
contract of employment includes –
(a) a secondment arrangement; and
(b) an appointment as a director of the Commission or TIS Corporation; and
(a) specify conditions including, without limitation –
(i) conditions relating to the transfer of the assets, liabilities and contracts; and
(ii) conditions relating to the payment of consideration, if any is payable; and
(b) provide for any matter that is incidental to the transfer of the assets, liabilities and contracts.
(6) A transfer notice takes effect on the specified day or days, whether that day is before, on or after the day on which the transfer notice is published in the Gazette.
(7) On the day on which a transfer notice takes effect –
(a) the specified assets vest in the transfer recipient in accordance with the transfer notice, without the need for any further conveyance, transfer, assignment or assurance but subject to any conditions specified in the transfer notice; and
(b) the specified liabilities become the liabilities of the transfer recipient, in accordance with the transfer notice, without the need for any further conveyance, transfer, assignment or assurance but subject to any conditions specified in the transfer notice; and
(c) the transferor ceases to be a party to the specified contracts unless the transfer notice provides otherwise or except to the extent specified in the transfer notice.
(8) On and after the day on which a transfer notice takes effect –
(a) a specified contract is taken to have been made by the transfer recipient; and
(b) a reference to the transferor in a specified contract is taken to be or include, as appropriate, a reference to the transfer recipient.
(12) State tax is not payable in respect of any document prepared to give effect to a transfer notice or subsection (7) .
31
Transfer of persons subject to a secondment arrangement
31 Transfer of persons subject to a secondment arrangement
(1) Before the transfer day, the Minister is to give to each State Service employee and State Service officer who is to become a transferring employee written notice that his or her secondment to the Commission or TIS Corporation is to be transferred to the Company and the date, or approximate date, on which that transfer will take effect.
(2) On the transfer day, the secondment arrangement relating to each transferring employee –
(a) continues in effect; and
(b) the requirement in the secondment arrangement for the transferring employee to undertake duties with the Commission or TIS Corporation is taken to be a requirement to undertake duties with the Company.
(3) A transferring employee is not entitled to any compensation or other payment in respect of the change of the organisation for which he or she is required to undertake duties under his or her secondment arrangement or any change in his or her position description, title, role or duties that results from that change of organisation.
(4) Before, or as soon as practicable after, the transfer day, the Company by written notice provided to a transferring employee may determine the position description, title, role or duties for the position to be occupied, or occupied, by the transferring employee in the Company that is different from his or her position description, title, role or duties with the Commission or TIS Corporation.
32
Construction of instruments
32 Construction of instruments
(1) In this section –
contract of employment includes –
(a) a secondment arrangement; and
(b) an appointment as a director of the Commission or TIS Corporation; and
document means a document, or part of a document –
(a) that was in force immediately before the transfer day; and
(b) that relates to a transferring asset, transferring liability, transferring contract or transferring employee; and
(c) in which there is a reference –
(i) in relation to that transferring asset, transferring liability or transferring contract, to the transferor, or transfer recipient; or
(ii) in relation to that transferring employee, to the Commission or TIS Corporation –
but does not include a contract of employment.
(2) Unless the context or subject matter of a document requires otherwise, on and after the relevant day of transfer a reference in the document to the transferor is taken, where appropriate, to be or include a reference to the transfer recipient.
33
Continuation and institution of proceedings, &c.
33 Continuation and institution of proceedings, &c.
On and after the relevant day of transfer –
(a) legal or other proceedings instituted by or against the transferor in relation to a transferring asset, transferring liability, transferring contract or transferring employee before, and pending on, the relevant day of transfer may be continued by or against the transfer recipient; and
(b) any legal or other proceedings that, immediately before the relevant day of transfer, could have been instituted by or against the transferor in relation to a transferring asset, transferring liability, transferring contract or transferring employee may be instituted by or against the transfer recipient; and
(c) a judgment or order of a court obtained before the relevant day of transfer by or against the transferor in proceedings relating to a transferring asset, transferring liability, transferring contract or transferring employee may be enforced by or against the transfer recipient; and
(d) a document relating to legal or other proceedings relating to a transferring asset, transferring liability, transferring contract or transferring employee that has been served on or by the transferor before the relevant day of transfer is taken, where appropriate, to have been served on or by the transfer recipient.
34
Contracts
34 Contracts
A party to a transferring contract is not entitled to terminate that contract, claim that there has been a breach or default of contract or claim any remedy by reason only of the transfer of that contract to the Company or the Crown under section 29 or 30 .
35
Removing doubt relating to transfer
35 Removing doubt relating to transfer
(1) In this section –
contract means a contract, agreement, arrangement, undertaking or part of a contract, agreement, arrangement or undertaking, but does not include a contract of employment;
contract of employment includes –
(a) a secondment arrangement; and
(b) an appointment as a director of the Commission or TIS Corporation; and
(a) as to whether any asset, liability or contract, or any part of any asset, liability or contract, is vested in or transferred to the Company or the Crown under section 29 or 30 ; or
(b) as to whether any contract or other document relates to any asset, liability or contract that is transferred to the Company or the Crown under section 29 or 30 –
the Minister is to determine the matter.
(3) On determining a matter, the Minister is to provide written notice of that determination to each of the following persons:
(a) the transferor;
(b) the transfer recipient;
(c) a person who brought the matter to the Minister for determination;
(d) a party to a contract if the Minister considers it appropriate.
(4) The determination of the Minister under subsection (2) is final and binding.
(2) A Treasurer's Instruction applies to the Company, and each subsidiary of the Company, as if they were Government Business Enterprises specified in Schedules 1 , 2 and 3 of the Government Business Enterprises Act 1995 .
(3) The Treasurer may issue Treasurer's Instructions specifically in relation to the Company, and each subsidiary of the Company, as if they were Government Business Enterprises specified in Schedules 1 , 2 and 3 of the Government Business Enterprises Act 1995 .
(4) The Company and each subsidiary of the Company are to comply with all relevant Treasurer's Instructions.
(5) The Treasurer may exempt the Company or a subsidiary of the Company, or both, from the obligation to comply with all or part of a Treasurer's Instruction.
36
Application of Corporations Act
36 Application of Corporations Act
[Section 36 Amended by No. 9 of 2018, s. 22, Applied:10 Sep 2018] To the extent that a provision of this Act is incapable of concurrent operation with the Corporations Act, that provision is declared to be a Corporations legislation displacement provision for the purposes of section 5G of the Corporations Act.
37
Protection for acts done under this Act
37 Protection for acts done under this Act
Any thing done or omitted in good faith that is done or omitted under, or authorised by, this Act does not, except as otherwise expressly provided by or under this Act or as provided or agreed by the person doing or omitting the thing –
(a) terminate a contract, other instrument or obligation; or
(b) give rise to a right to terminate a contract, other instrument or obligation by fulfilling a condition or in any other manner; or
(c) release a surety or other obligee wholly or in part from an obligation; or
(d) give rise to any right or remedy by a party to a contract or other instrument; or
(e) constitute a breach of a contract or other instrument; or
(f) constitute a civil or criminal wrong; or
(g) constitute a breach of confidence.
38
Delegation by Minister
38 Delegation by Minister
The Minister, in writing, may delegate to any person any of his or her powers or functions under this Act, other than this power of delegation.
39
Regulations
39 Regulations
(1) The Governor may make regulations for the purposes of this Act.
(2) Without limiting the generality of subsection (1) , the regulations may –
(a) provide for arrangements for transferring employees or persons who may become transferring employees; and
(b) provide for the deregistration of TIS Corporation under the Corporations Act.
(3) Without limiting the generality of subsection (1) , the regulations may modify the Land Acquisition Act 1993 in its application to the acquisition of land under section 28 , but the regulations cannot affect the monetary entitlements of persons from whom land is so acquired.
(4) The regulations may be made so as to apply differently according to matters, limitations or restrictions, whether as to time, circumstance or otherwise, specified in the regulations.
(5) The regulations may authorise any matter to be from time to time approved, determined, applied or regulated by the Minister or the Treasurer.
(6) The regulations may –
(a) provide for savings or transitional matters necessary or expedient for bringing this Act, or a transfer notice, into operation; and
(b) provide for any of those savings or transitional matters to take effect when this Act commences or on a later day specified in the regulations, whether the day so specified is before, on or after the day on which the regulations are made.
(a) the administration of this Act is assigned to the Minister for Primary Industries and Water; and
(b) the department responsible to that Minister in relation to the administration of this Act is the Department of Primary Industries, Parks, Water and Environment.
41
Savings and transitional provisions
41 Savings and transitional provisions
The savings and transitional provisions set out in Schedule 1 have effect.
42
Repeal and revocation of Rivers and Water Supply Commission Act 1999 and proclamation under that Act
42 Repeal and revocation of Rivers and Water Supply Commission Act 1999 and proclamation under that Act
(1) On the day fixed by proclamation under subsection (2) –
(3) Before making a recommendation for the purpose of subsection (2) , the Minister is to be satisfied that, in respect of the financial year ending on 30 June 2011 –
(a) the Board of Directors of the Commission has –
(1) The Minister may apply, or may require the Commission or TIS Corporation to apply, for the deregistration of TIS Corporation under section 601AA of the Corporations Act if –
(1) Except as approved under clauses 2 and 3 , a person may not be appointed to serve as director on the Board if the person –
(a) has previously served 2 full terms as director on the Board, whether consecutive or not; or
(b) has previously held the position of chief executive officer of the Company.
(2) For the avoidance of doubt, subclause (1) does not apply to a term as director if –
(a) the person –
(i) holds the office of director to fill a vacancy in the office of director; and
(ii) only holds that office for the remainder of the vacating director’s term; and
(b) the person has not previously been appointed as director for a full term.
(3) For the purposes of this clause, a person has served a full term as director –
(a) if the person has held the office of director for the amount of time for which the person was appointed to that office, before being required to be reappointed to the office; and
(b) regardless of whether that person served the full term as director before, or after, the commencement of the Government Business Governance Reforms Act 2025.
(4) For the purposes of this clause, the operation of section 21(3)(b) of theActs Interpretation Act 1931 in respect of a person’s appointment to the office of director is taken to be an extension of the person’s full term as director and not a reappointment of the person to the office of director.
2. Members may appoint directors for subsequent terms
(1) A person may be appointed for a third or subsequent term as director if the members are satisfied that exceptional circumstances exist that require the person to serve a third, or subsequent, term.
(2) If a person is appointed for a third or subsequent term as director, the Minister is to table a notice in each House of Parliament, within 7 sitting-days after the appointment, that includes –
(a) a statement that includes the following information:
(i) the fact that the appointment has been made;
(ii) the duration of the term of the appointment so made;
(iii) how many times the person, so appointed, has been appointed to the office of director; and
(b) if appropriate, the exceptional circumstances relied upon by the members when making the appointment.
3. Members may appoint former chief executive officers as directors
(1) A former chief executive officer of the Company may be appointed as director if the members are satisfied that exceptional circumstances exist that require the person to be appointed as director.
(2) If a former chief executive officer of the Company is appointed as director under subclause (1) , the Minister is to table a notice in each House of Parliament, within 7 sitting-days after the appointment, that includes –
(a) a statement that includes the following information:
(i) the fact that the appointment has been made;
(ii) the duration of the term of the appointment so made;
(iii) that the person was previously the chief executive officer of the Company; and
(b) if appropriate, the exceptional circumstances relied upon by the members when making the appointment.
Source text: opening excerpt
Sourced from Tasmanian Legislation Online (legislation.tas.gov.au), CC BY 4.0.
Part 1 Preliminary
Part 1 Preliminary
1 Short title
1 Short title
This Act may be cited as the Irrigation Company Act 2011 .
2 Commencement
2 Commencement
(1) Part 1 and sections 30 , 31 , 39 and 40 commence on the day on which this Act receives the Royal Assent.
(2) The remaining provisions of this Act commence on the transfer day.
3 Purposes of Act
3 Purposes of Act
The purposes of this Act are –
(a) to provide for matters relating to the control, objects and operation of the Company; and
(b) to provide for the transfer to the Company of the assets and liabilities of the Rivers and Water Supply Commission and TIS Corporation and to make provision in respect of the employees of the Rivers and Water Supply Commission and TIS Corporation consequent on the transfer of those assets and liabilities; and
(c) to allow for the transfer to the Company of certain assets and liabilities of the Crown and councils; and
(d) to allow for the transfer of assets and liabilities of the Company to the Crown.
4 Interpretation
4 Interpretation
In this Act, unless the contrary intention appears –
annual general meeting means the annual general meeting of the Company held in accordance with its constitution;
asset includes any, and any part of any, property, business, operation and right;
Board means the Board of Directors of the Company;
Commission means the Rivers and Water Supply Commission established under the Rivers and Water Supply Commission Act 1999 ;
The Act makes specific provisions about land acquisition powers (s 28), by-law and water-district continuity (Schedule 1), and finality of transfer-related determinations by the Minister (s 35). It declares the Company is not the Crown and that the Crown is not liable for Company liabilities except where the Treasurer gives a guarantee or indemnity or other statutory guarantee applies (s 12). The Act protects acts done in good faith under it from giving rise to contractual termination or civil or criminal wrongs (s 37). It also contains special constitutional controls on shareholding and future share issues, including trust holdings for the Crown (s 10), constraints on disposal and on voting about issuing new shares (s 11A), and special parliamentary thresholds for changing those constraints (s 11A(3)).
Readers should treat the Act as both a transfer instrument and a governance statute that positions the Company within the frame of public enterprise governance under the GBE Act and the Corporations Act, while preserving Crown control levers through membership rights, directions and Treasurer’s powers.
Main concepts
The Act is driven by a small set of structural concepts that organise how public and corporate law interface in the irrigation context.
Corporate vehicle and objectives. The statutory Company, Tasmanian Irrigation Pty Ltd, is the private company used to develop, own and operate irrigation schemes in Tasmania (s 7). The Company’s constitution must include those principal objectives and be consistent with the Act (s 8). Recent amendments require the constitution to be changed to include additional enumerated provisions (s 8(2A); Schedule 2).
Members and ownership arrangements. The members are two Ministers, ordinarily the Minister and the Treasurer (s 9). Shares held by those members are held in trust for the Crown (s 10). The Act imposes constraints on members’ ability to dispose of those shares and on shareholder votes about issuing new shares (s 11A). Those constraints survive inconsistency with the constitution (s 11A(4)).
Public governance overlay. The Company is treated in many ways like a Government Business Enterprise: Treasurer’s Instructions and specified Parts of the GBE Act apply (ss 17, 18, 35A). The Auditor-General is the Company’s auditor (s 14). The members supply a statement of expectations and may give directions; the Board must prepare corporate plans, statements of corporate intent and report regularly (ss 13, 13E, 25, 26, 26A). The members have explicit direction power over the Company and wholly-owned subsidiaries (s 13A); those directions prevail over the constitution, statements of expectations and Treasurer’s Instructions except where contrary to statute (s 13A(3)).
Transfer mechanics. The Act effects transfers in two ways: automatic vesting from the Commission and TIS Corporation on the transfer day (s 29) and by ministerial transfer notice for Crown or council assets and liabilities (s 30). Transfers vest assets and liabilities without further conveyance and cause procedural continuities in contracts, proceedings and instruments (ss 29(2), 30(7), 32, 33, 34). Transfer notices can take effect on specified days, before or after Gazette publication, and are not statutory rules (s 30(6), (11)).
Employee transfer and continuity. Secondment arrangements and appointments that required employees to undertake duties with the Commission or TIS Corporation are continued as secondments to the Company (s 31). The Act requires the Company to enter contracts with transferring employees that preserve at least the same remuneration and accrued entitlements (Schedule 1, cl 5(5), cl 6(5)). Transferring employees are not entitled to compensation simply because of the transfer (s 31(3); Schedule 1 cl 5(3), cl 6(3)).
Crown non-liability and Treasurer safeguards. The Company is not the Crown and is not entitled to Crown prerogatives; the Crown is not liable for Company liabilities unless the Treasurer gives a guarantee or indemnity, or another statutory guarantee applies (s 12). The Treasurer may guarantee or indemnify the Company subject to conditions, and payments under such guarantees are to be made from Parliamentary appropriations (s 16).
Limits on borrowing and financial arrangements. Borrowing is limited (s 15). The Treasurer may impose restrictions by notice on types of financial arrangements the Company can enter (s 21). The Company must comply with Treasurer’s Instructions in relation to financial arrangements (s 21(4)).
Statutory finality and protections. Ministerial determinations about transfer ambiguities are declared final and binding (s 35(4)). Acts done in good faith under the Act are protected from giving rise to contractual termination, breaches, civil or criminal wrongs and other remedies (s 37).
Together these concepts create an instrument that performs three functions: vesting operational water-related assets and obligations in a corporate vehicle, subjecting that vehicle to public-sector oversight and financial discipline, and preserving administrative continuity for permits, contracts and personnel.
Who it affects
This Act creates obligations, rights and procedural changes that affect distinct groups in concrete ways.
The Company (Tasmanian Irrigation Pty Ltd). The Company is the primary addressee of the Act’s duties (s 7, s 8). It receives assets, licences and contracts from the Commission and TIS Corporation on the transfer day and may receive Crown or council assets by transfer notice (ss 29, 30). The Company must prepare corporate plans, statements of corporate intent, periodic reports, and a sponsorship framework (ss 25, 13E, 26A, 26C). It is restricted in borrowing (s 15) and subject to Treasurer’s Instructions (s 35A).
The Board and directors. The Board is responsible for implementing the Act’s governance and reporting instruments, ensuring skillsets including irrigation expertise among directors (s 23), and ensuring compliance with Treasurer’s Instructions and the corporate plan (ss 21(4), 25). Schedule 2 (inserted by 2025 reform) imposes term limits and special appointment rules for directors to be reflected in the constitution (Schedule 2 cl 1-3).
The members (Minister and Treasurer). They are the Company’s shareholders holding shares in trust for the Crown (s 9, s 10). Members provide a statement of expectations (s 13), can issue directions to the Company or wholly-owned subsidiaries (s 13A), and must be given and will receive reports and corporate documents (ss 13, 13E, 26, 26A).
The Crown and the Treasurer. The Crown is the beneficial owner of the Company’s shares but is not the guarantor of Company liabilities except by express Treasurer guarantee or statutory guarantee (s 12). The Treasurer may issue guarantees and indemnities on written request (s 16) and may limit financial arrangements (s 21). Treasurer’s Instructions apply to the Company and its subsidiaries (ss 35A; definitions at s 4).
Rivers and Water Supply Commission and TIS Corporation. Their assets, liabilities and contracts transfer to the Company on the transfer day (s 29). The Commission loses functions specified in its act (Schedule 1 cl 2), and the Commission is abolished on repeal day subject to conditions (Schedule 1 cl 3). TIS Corporation may be deregistered and its directorships revoked in accordance with clauses in the Act (ss 42, 43; Schedule 1).
Councils and third parties with assets or contracts. The Minister may transfer Crown or council assets to or from the Company by transfer notice (s 30). Councils are affected to the extent their consent is required for transfer of council assets (s 30(2)(b)). Transfer notices can vest assets and transfer liabilities without further conveyance (s 30(7)) and override contrary contractual provisions (s 30(9)).
Employees subject to secondment arrangements and other transferring employees. Secondments to the Commission and TIS Corporation become secondments to the Company (s 31(2)). Transferring employees have no automatic compensation for changes to the organisation to which they are seconded, but the Company must enter contracts to preserve remuneration and accrued entitlements (s 31(3); Schedule 1 cl 5(5), cl 6(5)). Long service leave treatment is specified so that certain employees continue to be treated as prescribed employees under the Long Service Leave (State Employees) Act 1994 (s 20).
Permit and licence holders, water districts and users. Permits, licences and authorities held immediately before the transfer day are taken to have been granted to the Company on the same terms (Schedule 1 cl 9-11; Schedule 1 cl 8 for water districts). The Company becomes the responsible water entity where the Commission or TIS Corporation previously was (Schedule 1 cl 8).
Landowners and persons subject to land acquisition. The Company is an acquiring authority under the Land Acquisition Act 1993 (s 28(1)) but subject to limitations on compulsory acquisition unless done under Water Management Act processes or with the Minister’s consent (s 28(2)). The Company may acquire easements and covenants in gross (s 28(4)).
Creditors and contracting parties. Contracts that are transferred continue, parties cannot terminate solely because of transfer (s 34), and transfer recipient steps into the transferor’s shoes for proceedings and judgments (s 33). Transfer notices and transfers under s 29 avoid State taxes on documents prepared to effect transfers (s 29(5), s 30(12)).
Compliance and governance costs will be borne primarily by the Company and its Board, with oversight and decision rights concentrated with the members, the Treasurer and Minister. Councils, employees, licence holders and third-party contractors will bear transactional change-management costs from transfers, the need to update instruments and practical coordination where transfer notices operate.
Key duties and rights
The Act distributes duties and rights across members, the Board, the Treasurer, the Minister and the Company. Below are the material obligations and entitlements that practitioners should track.
Members’ duties and rights: Members must provide the Board with a statement of expectations that sets out strategic priorities and policy expectations (s 13(1)-(2)). Members may amend or revoke that statement after consultation and must table it in Parliament (s 13(3)-(7)). Members may give written directions to the Company or a wholly-owned subsidiary; those directions must be given after notice allowing the Company to provide information (s 13A(1)-(2)) and take effect when delivered unless a later date is specified (s 13A(6)). Directions prevail over constitutional or corporate documents but cannot be contrary to statute (s 13A(3)). Members must table direction copies in Parliament and sign and date them (ss 13A(5), 13C(1)).
Board duties: The Board must prepare corporate plans and submit them in accordance with Treasurer’s Instructions (s 25). It must prepare an annual corporate intent for each financial year and ensure it is consistent with the statement of expectations, directions in force and Treasurer’s Instructions, and publish it while it remains in force (s 13E(2)-(6)). The Board must prepare annual financial reports and provide the members with copies of required reports (s 26(1)), and prepare a 6-month progress report by 28 February each year (s 26A). The Board must notify members of adverse circumstances affecting governing documents or financial viability (s 26B). Directors must have experience and skills necessary to achieve Company objectives and at least one director must have irrigation agriculture experience (s 23).
Company duties: The Company must comply with its corporate plan (s 25(3)). It must comply with Treasurer’s Instructions and with directions given by the members (ss 35A(4); 13A(7)). The Company must enter employment contracts with transferring employees that preserve remuneration and accrued entitlements (Schedule 1 cl 5(5), cl 6(5)). The Company must prepare and publish a sponsorship framework (s 26C(1)-(4)).
Treasurer’s rights and duties: The Treasurer may issue instructions (Treasurer’s Instructions) applicable to the Company and its subsidiaries (s 35A(2)-(3)); may grant guarantees or indemnities on written request subject to conditions and is to make payments under guarantees from Parliamentary appropriations (s 16). The Treasurer may specify restrictions on financial arrangements (s 21). The Treasurer may exempt the Company from obligations to comply with Treasurer’s Instructions (s 35A(5)).
Minister’s powers: The Minister may declare a later transfer day before 1 July 2011 (s 6), may make transfer notices for Crown or council assets and liabilities by Gazette notice (s 30), may delegate powers under the Act (s 38), and may cause tabling of documents such as constitutions and statements (s 8(3)-(4), s 13(7), s 13C(1)). The Minister is also the decision-maker for doubts about what assets or contracts transferred (s 35(2)-(4)) and may combine transfer notices and amend or revoke them (s 30(4), (10)).
Employee rights and employer obligations: Secondment arrangements continue and are treated as continuing obligations to perform duties for the Company (s 31(2)). Transferring employees are not entitled to compensation for transfer or role changes (s 31(3)), but the Company must offer contracts preserving remuneration and entitlements (Schedule 1 cl 5(5), cl 6(5)). Long service leave status persists for prescribed employees (s 20).
Rights of third parties and override effects: Parties to transferring contracts cannot terminate or claim breach solely because of transfer (s 34). Transfer notices and transfers by s 29 or s 30 produce statutory vesting that does not require further conveyance (ss 29(2)(a), 30(7)(a)) and take effect despite contrary contract provisions (s 30(9)). Ministerial determinations under s 35 are final and binding (s 35(4)).
Financial constraints and entitlements: The Company may only borrow from the Tasmanian Public Finance Corporation unless the Treasurer approves otherwise (s 15). The Company is entitled to compensation if required to perform non-commercial activities by members and demonstrates likely financial detriment; compensation is determined by the Treasurer (s 27(4)).
These duties and rights create an institutional design where the Company operates commercially but under public oversight measures, with member directions and Treasurer financial controls being central levers.
Penalties and enforcement
The Act contains few express criminal penalties or statutory fines. Enforcement is effected primarily through governance obligations, administrative powers, reporting and parliamentary scrutiny, and contractual/administrative remedies.
Administrative enforcement through members and Treasurer. Members can give directions that the Company and its wholly-owned subsidiaries must comply with (s 13A(1), (7)). Compliance is enforced by the statutory obligation on the Company to comply and by the requirement for the Board to report progress on compliance (s 13D). Failure to comply with Treasurer’s Instructions and notices about financial arrangements carries internal administrative consequences; s 21(3) makes contravention of a Treasurer’s notice a statutory prohibition. The Treasurer can withhold guarantees, control borrowing (s 15) and set conditions on guarantees (s 16(2)), creating financial levers to enforce compliance.
Parliamentary accountability and tabling requirements. The Act imposes multiple tabling and publication requirements that create reputational and political enforcement. The Minister must lay copies of the constitution and amendments before Parliament (s 8(4)). Members must cause statements of expectations to be tabled (s 13(7)). Directions and objections must be tabled or notified to Parliament (ss 13B(3)(c), 13C(1), (4)). Statements of corporate intent and certain reports must be published (s 13E(6), s 26A(3)). These mechanisms produce scrutiny and may prompt administrative remedies or political consequences rather than criminal sanctions.
Finality of executive determinations. The Minister’s determinations resolving doubt about what transferred under ss 29 or 30 are final and binding (s 35(4)). This reduces scope for judicial review about the transfer question but does not necessarily oust judicial remedies for other legal rights; the Act states the Minister’s determination is final and binding without detailed exception.
Protections for good faith actions. s 37 protects acts or omissions done in good faith under or authorised by the Act from constituting breach of contract, providing grounds for termination, civil or criminal wrongs or breach of confidence, except as otherwise expressly provided. This section limits exposure to litigation for public actors acting within their statutory authority.
Civil remedies and continuation of proceedings. The Act preserves the continuity of proceedings by allowing the transfer recipient to continue or be subject to proceedings related to transferred assets or employees (s 33). Contracts may not be terminated by reason only of transfer (s 34), which discourages opportunistic claims. The Act does not prescribe penalties for contraventions of obligations such as failing to provide required reports; rather enforcement looks to administrative levers, Treasurer and member controls, and Parliamentary scrutiny.
Absence of express criminal offences. The Act does not create specific criminal offences for breach of most of the corporate governance duties described. Liability for other breaches would therefore lie in common law or other statutes where applicable. The Act does provide defence in other statutes for acts done in compliance with member directions in certain proceedings (s 13A(8)).
Practitioners should therefore plan enforcement strategies around corporate governance levers, contractual protections, Treasurer guarantees and Parliamentary visibility rather than expect penalties embedded in the Act. Where the Act is silent on sanctions, enforcement will depend on the interplay with the Corporations Act, contracts, and general administrative law.
How it interacts with other laws
The Act is explicitly constructed to interact with multiple Commonwealth and Tasmanian statutes, and it both imports and modifies the operation of other frameworks.
Corporations Act 2001 (Cth). The Act declares that, to the extent any provision of this Act cannot operate concurrently with the Corporations Act, the conflicting provision is a "Corporations legislation displacement provision" under s 5G of the Corporations Act (s 36). This provides statutory precedence where necessary to implement the public governance design. The Company and its subsidiaries remain subject to the Corporations Act otherwise.
Government Business Enterprises Act 1995. The Act applies specific parts and obligations of the GBE Act to the Company and its subsidiaries as if they were listed Government Business Enterprises (ss 17, 18). Treasurer’s Instructions under s 114 of the GBE Act apply to the Company and subsidiaries (s 35A). This ties the Company into the GBE financial governance regime, including tax-equivalent regimes and guarantee fee regimes referenced in ss 17 and 18.
Land Acquisition Act 1993. The Company is defined as an acquiring authority under the Land Acquisition Act (s 28(1)). The regulations may modify the Land Acquisition Act’s application to the Company for land acquisitions related to s 28 (s 39(3)), though the regulations cannot affect monetary entitlements of persons from whom land is acquired.
Water Management Act 1999. Compulsory land acquisition for water districts is possible only in accordance with s 183 of the Water Management Act or with the Minister’s consent (s 28(2)(a)-(b)). Schedule 1 provides that water districts for which the Commission or TIS Corporation were the responsible water entity are taken to have the Company as the responsible entity under Part 9 of the Water Management Act (Schedule 1 cl 8). Permits and licences under Parts 6 and 8 of the Water Management Act are taken to have been granted to the Company (Schedule 1 cl 9-10).
Environmental Management and Pollution Control Act 1994. The Act provides that environment protection notices binding the Commission or TIS Corporation are to be provided to and bind the Company; Schedule 1 cl 12 specifies transfer of notices and preserves the obligation of the Commission to comply with s 45(1) and s 45(2) EMPC Act where applicable.
Conveyancing and Law of Property Act 1884. The Company is a public authority under that Act (s 28(3)) and may acquire easements in gross and covenants in gross per specified sections of that Conveyancing Act (s 28(4)).
Long Service Leave (State Employees) Act 1994. Transferring employees that were employees under this Act continue to be treated as such while employed by the Company; the Company is taken to be a prescribed authority (s 20).
Financial Agreement Act 1994. If the Treasurer requires the Company to act to implement that Agreement, the Company must comply (s 22).
Administrative Arrangements Act 1990. Until otherwise ordered, administrative responsibility for the Act is assigned to the Minister for Primary Industries and Water and the relevant department (s 40).
Corporations Act deregistration provisions. The Minister may apply for deregistration of TIS Corporation under section 601AA of the Corporations Act if specified financial obligations have been met (s 43).
Regulations and delegated instruments. The Governor may make regulations for many aspects of the Act (s 39). Regulations may modify the Land Acquisition Act as it applies to the Company but not monetary entitlements (s 39(3)), may provide savings and transitional matters (s 39(6)), and may authorise matters to be determined by Minister or Treasurer (s 39(5)).
These interactions mean the Act operates as a bridge between public enterprise governance regimes, property and planning regimes relevant to water infrastructure, employment law for transferred staff, and corporate law. Practitioners should map obligations under the Corporations Act, the GBE Act, the Water Management Act and the Land Acquisition Act when advising the Company or parties to transfer arrangements.
Amendment history
The text carries amendment annotations that identify legislative changes and insertion dates. The relevant amendments recorded in the Act itself are the following.
2016 amendments to s 19. Subsections of s 19 were omitted or substituted by No. 54 of 2016, applied 31 March 2017 (see annotations on s 19).
2018 reforms. Several provisions were substituted or inserted by No. 9 of 2018:
s 13 (Members' statement of expectations) substituted by No. 9 of 2018, s 19, applied 10 September 2018.
s 24 was repealed by No. 9 of 2018, s 20, applied 10 September 2018.
s 35A (Treasurer's Instructions) inserted by No. 9 of 2018, s 21, applied 10 September 2018.
s 36 amended by No. 9 of 2018, s 22, applied 10 September 2018.
2015 amendment. Part 3 of Schedule 1 relating to permits under the Water Management Act and Land Use Planning and Approvals Act was amended by No. 34 of 2015, s 15, applied 1 January 2016 (Schedule 1 cl 9(1)-(2)).
2023 amendments. Section 7 was amended by No. 36 of 2023, s 13, applied 11 December 2023, to refine the principal objectives (s 7(b) and (c) altered language to require effective and efficient operation and to perform functions under the Irrigation Clauses Act 1973).
2023 amendments affecting Crown liability and guarantees. s 12(2) and s 16 had amendments by No. 22 of 2023, s 20-21, applied 1 July 2023; those annotations appear on s 12(2) and s 16 showing amendments to wording, preserving Treasurer control over guarantees and clarifying effect of guarantees regardless of jurisdiction (s 16(4) annotation).
2025 Government Business Governance Reforms. A package of amendments by No. 18 of 2025 and No. 20 of 2025 were applied 1 January 2026 and 27 November 2025 respectively:
s 4 was amended by No. 18 of 2025, s 28 to insert definitions such as "subsidiary board" and modify definitions including "wholly-owned subsidiary".
s 8(2A) was inserted by No. 18 of 2025, s 29, requiring the Company to amend its constitution to include provisions in Schedule 2.
s 9 subsections (2) and (3) were substituted and inserted by No. 18 of 2025, s 30, clarifying member nomination when one person holds both Minister and Treasurer roles.
s 11A was inserted by No. 20 of 2025, s 14, applied 27 November 2025, creating limitations on members’ ability to dispose of shares and restricting certain shareholder votes, and setting a parliamentary supermajority requirement for changes.
ss 13A-13D, 13E, 26A-26C and Schedule 2 were inserted or amended by No. 18 of 2025, ss 31-33, applied 1 January 2026, introducing member directions, objection processes, publication and notification duties, statement of corporate intent, mid-year reporting, duty to notify of adverse circumstances, sponsorship framework and constitution provisions regarding director terms and appointment exceptions.
Schedule 2 (inserted by No. 18 of 2025) prescribes terms of directors, limits on reappointment (two full terms), and processes for exceptional third-term appointments and for appointing former chief executive officers as directors; each such exceptional appointment must be tabled in Parliament (Schedule 2 cl 1-3).
This amendment history shows an incremental strengthening of public oversight and gubernatorial controls over the Company between 2015 and 2026, including explicit parliamentary reporting and member direction processes inserted in 2025-2026 reforms. All amendment annotations in the provided text refer to the amending Act and the applied dates; practitioners should check the consolidated statute for any later amendments.
Litigation history
The provided statute text contains no citations to judicial decisions and records no litigation history. The Act itself anticipates certain legal frictions by prescribing procedures intended to reduce litigation risk in transfer and governance processes; relevant procedural measures include:
Continuity of proceedings: s 33 provides that proceedings pending against a transferor in relation to transferred assets may be continued by or against the transfer recipient. That provision is intended to minimise procedural interruption and litigation over standing.
Protection from termination for transfer: s 34 prevents a party from terminating or claiming contract breach solely because of the transfer of a contract under ss 29 or 30. This reduces the likely grounds for contract-based litigation immediately following transfer.
Finality of Ministerial determinations: s 35(4) declares the Minister’s determination about whether an asset, liability or contract has transferred to be final and binding. The Act does not set out express avenues for judicial review of such determinations; the provision aims to avoid protracted disputes about the scope of transfers. Practitioners should be alert to the potential for constitutional or administrative law challenges where statutory finality may be limited by common law doctrines or by judicial review in circumstances where jurisdictional error is alleged; the Act’s wording does not itself abolish judicial review.
Protections for good faith acts: s 37 immunises acts or omissions done in good faith under the Act from giving rise to a right to terminate contracts or civil or criminal wrongs, thereby insulating officials and the Company from certain forms of litigation for actions taken pursuant to the Act.
Because the Act is a transfer and governance statute rather than an enforcement statute, disputes that arise are likely to proceed under general corporate law, contract law, property law, employment law and administrative law rather than under specialised penal provisions in the Act. Potential areas for litigation that the Act implicitly addresses include ownership of assets, enforceability of transferred contracts, treatment of employees, and compliance with environmental notices. For each of these, the Act’s express clauses (ss 29-35; Schedule 1) skew the legal balance toward administrative continuity and finality, but they do not remove all factual or legal bases for litigation outside the transfer questions themselves.
If litigation becomes necessary, advisers will need to align arguments with the Act’s transfer mechanics (ss 29, 30), the finality provision (s 35(4)), and protections against termination (s 34), while also considering relevant external statutes and common law remedies.
Gotchas
This Act contains operational and legal features that can cause unexpected outcomes if overlooked.
Membership concentration and shareholding constraints. The Company’s members are the Minister and the Treasurer (s 9). Shares held by the members are held in trust for the Crown (s 10). The 2025 insertion of s 11A restricts members from selling or disposing of Crown-trust shares and prohibits member votes that would allow share offers or invitations to subscribe except pro rata to existing shareholders (s 11A(1)-(2)). Any attempt to amend s 11A(1) requires a two-thirds vote of each House of Parliament (s 11A(3)). These constraints limit rapid privatisation or share dilution without clear parliamentary involvement.
Member directions override many corporate documents. The members may give directions that override the constitution, statements of expectations, statements of corporate intent and Treasurer’s Instructions, and, in the case of wholly-owned subsidiaries, the subsidiary’s constitution (s 13A(3)(a)(i)-(v)). Directions cannot, however, be contrary to statute (s 13A(3)(b)). That means the politically accountable members can impose instructions that materially change Company strategy, and the Board must comply (s 13A(7)). The Board has an objection window (s 13B), but if the members decline to amend the direction the direction remains in force once tabling requirements are met (s 13B(3)(c)).
Transfer notices can take effect before Gazette publication and are not statutory rules. A transfer notice can specify a day on which it takes effect, whether before, on or after its publication in the Gazette (s 30(6)). Transfer notices are not statutory rules under the Rules Publication Act (s 30(11)), which may affect procedural review pathways and expectations about pre-notification.
Minister’s determination is final and binding. Where there is doubt about whether an asset, liability or contract was transferred under s 29 or s 30, the Minister’s determination is final and binding (s 35(4)). That reduces litigation risk over that question but concentrates decision power in the Minister’s office and may leave parties reliant on administrative remedies rather than judicial review.
Transfer effects on contracts and proceedings. The Act provides that contracting parties cannot terminate or claim breach solely because of transfer (s 34) and that references in documents to the transferor are treated as references to the transfer recipient on and after the relevant day of transfer (s 32). However, the transferred entity steps into the transferor’s place with no further conveyance required (ss 29(2), 30(7)). This statutory seamlessness may still require operational updates to contract counterparties and can create short-term confusion about invoicing, securities, and registration of interests.
Employee expectations and limitations. Transferring employees’ secondments continue and the Company must enter into employment contracts preserving remuneration and entitlements (s 31; Schedule 1 cl 5, cl 6). However, transferring employees are not entitled to compensation merely for change of organisation or changes in duties resulting from the transfer (s 31(3)). Practical issues may arise where role changes occur and the Company repositions workforce responsibilities.
Crown non-liability, except by guarantee. The Act expressly declares the Company is not the Crown and that the Crown is not liable for Company liabilities unless the Treasurer issues a guarantee or an alternative statutory guarantee applies (s 12). Third parties should therefore seek Treasurer guarantees where Crown backing is required for credit or contracting. Payments under guarantees are drawn from Parliamentary appropriations (s 16(3)).
Borrowing and financial arrangement restrictions. The Company is not to borrow except from the Tasmanian Public Finance Corporation unless the Treasurer approves otherwise (s 15). The Treasurer may also prohibit specified financial arrangements by written notice (s 21), potentially constraining hedging, derivative use or other sophisticated financing strategies.
Director term limits and exceptional appointments. Schedule 2 imposes a general bar on appointment where a person has served two full director terms or has been a chief executive officer, with narrowly defined exceptions requiring exceptional circumstances and parliamentary tabling (Schedule 2 cl 1-3). This may affect retention and recruitment plans for experienced corporate directors.
Potential for confidentiality tension. Publication and tabling obligations (ss 13C, 13E, 26A) are qualified by carve-outs for material that might disadvantage the Company or prejudice investigations (ss 13C(3), 13E(3), 26A(4)). Managing those carve-outs demands careful governance and documented reasoning because disclosure decisions will be susceptible to parliamentary and public scrutiny.
State tax exemptions limited to documents prepared to effect transfer. State tax is not payable in respect of documents prepared to give effect to transfers under ss 29 and 30 (ss 29(5), 30(12)). This exemption applies narrowly to transfer-related documents and will not automatically cover related commercial transactions.
Awareness of these features reduces the risk of operational surprises and helps frame negotiation points with creditors, councils, suppliers, employees and regulators.
How to comply
Compliance combines corporate governance, financial discipline and careful administration of transfers and employee matters. The following steps map an operational compliance plan tied to the Act’s sections.
Update the constitution. As required by s 8(1)-(2A), ensure the constitution includes the principal objectives (s 7) and incorporates the Schedule 2 provisions (s 8(2A)). Provide the Minister with the constitution and any amendments as soon as practicable and ensure those documents are tabled in each House of Parliament within the specified periods (s 8(3)-(4)).
Establish member engagement processes. Obtain and document the statement of expectations from the members (s 13). Build formal consultation and amendment protocols so that the Board receives notice and can supply information before members exercise direction powers (s 13A(2)). Prepare to comply with directions promptly, and establish procedures for raising objections under s 13B within 21 days if necessary. Maintain strict record-keeping for tabling and publication obligations (ss 13C, 13D).
Corporate planning and publication. Prepare the corporate plan annually under Treasurer’s Instructions and submit to members (s 25). Draft and obtain member approval of the statement of corporate intent on the timeframes set out in s 13E(4)(d) and publish it while in force (s 13E(6)). Maintain public-access publication systems for the corporate intent and mid-year reports (s 13E(6); s 26A(3)) and implement the carve-out process for confidential material (s 13E(3); s 26A(4)).
Reporting and notification duties. Set up processes to prepare and deliver annual financial reports, directors’ reports and auditors’ reports to the members for tabling (s 26(1)-(2)). Prepare templates and timelines to produce the February mid-year report (s 26A(1)-(2)) and the adverse-circumstances notification procedures described in s 26B(2) to ensure immediate notification of developments that could significantly affect governing documents or financial viability.
Treasury and financial compliance. Comply with the GBE Act provisions and Treasurer’s Instructions applicable to the Company and subsidiaries (ss 17, 18, 35A). Before borrowing, confirm that the lender is the Tasmanian Public Finance Corporation or obtain written Treasurer approval for alternative borrowing (s 15). Maintain oversight and controls to ensure compliance with any Treasurer notice restricting financial arrangements (s 21) and prepare to pay any guarantee fees and tax equivalents as those GBE Act parts apply (ss 17-18).
Guarantees and risk transfer. If third-party counterparties require Crown backing, apply to the Treasurer and prepare documentation for guarantees or indemnities (s 16). Understand the Treasurer may impose conditions and that payments under guarantees require Parliamentary appropriation (s 16(2)-(3)).
Transfers of assets, liabilities and contracts. For transfers under s 29, prepare conveyancing schedules and documentation so that vesting occurs automatically on the transfer day and to capture the scope of transferred assets, liabilities and contracts (s 29(2)-(4)). For Crown or council transfers under s 30, ensure any required council consent has been secured and that transfer notices specify conditions, effective dates and incidental matters (s 30(2), (5)-(6)). Update registers, land titles, securities and contract counterparties promptly, noting that transfer notices may take effect on specified days and that they are not statutory rules (s 30(6), (11)).
Contracts and counterparties. Where contracts are being continued, ensure counterparties are notified and records updated. Preserve contract performance obligations and confirm that parties do not treat transfer as termination (s 34). For existing contracts, use s 32 to analyse and update references in documents that referred to the prior transferor.
Employee transition. Comply with s 31 notice obligations to transferring employees prior to transfer day (s 31(1)). Implement template employment contracts for transferring employees that preserve remuneration and accrued entitlements in accordance with Schedule 1 cl 5(5) and cl 6(5). Document that transferring employees are not entitled to compensation merely for the transfer (s 31(3)), but manage morale and risks by clear communication and timely employment contracts.
Land acquisition and easements. When land interest is required, verify the basis for compulsory acquisition under the Land Acquisition Act and whether the Water Management Act process applies (s 28(1)-(2)). Secure Minister consent where required and document compliance with acquisition monetary entitlements, which the regulations may not alter (s 28(2), s 39(3)).
Regulatory and environmental obligations. Ensure transferred environment protection notices are obtained and that the Company records and complies with notices and any outstanding obligations (Schedule 1 cl 12). For water district administration, note the Company becomes the responsible water entity where previously assigned (Schedule 1 cl 8).
Sponsorship and conflict of interest controls. Prepare a sponsorship framework per s 26C consistent with Treasurer’s Instructions, publish it and maintain records to evidence compliance. Adopt conflicts and confidentiality protocols when responding to publication and tabling obligations under ss 13C and 26A.
Board composition and director terms. Ensure the Board has the skill mix required by s 23 and at least one director with irrigation agriculture experience (s 23(2)). Respect Schedule 2 limits on director term reappointment and the procedures for exceptional appointments, including parliamentary tabling requirements for third-term appointments or former CEOs appointed as directors (Schedule 2 cl 1-3).
Legal and dispute readiness. Incorporate the Act’s protections (s 37) into operational legal advice and maintain records demonstrating good-faith statutory compliance. Prepare documents and evidence for the possibility that the Minister’s determination under s 35 may be final and binding; consider administrative routes first for any disputes about the scope of transfers.
Systems and record-keeping. Implement a compliance register mapping each statutory reporting deadline, tabling requirement and publication obligation, and link those to Board and executive workflows. Keep contemporaneous records of any direction from members, any objection under s 13B, and any decision to omit parts of reports under the carve-outs.
Following these steps will align the Company’s operations with the Act’s procedural and substantive requirements, reduce exposure to governance or financial non-compliance and ensure transparency to members and Parliament.
Company means Tasmanian Irrigation Pty Ltd (ACN 133 148 384), formerly known as Tasmanian Irrigation Development Board Pty Ltd;
constitution means the constitution of the Company;
contract means –
(a) an agreement, arrangement, undertaking, lease, licence, warranty or other contract; or
(b) part of an agreement, arrangement, undertaking, lease, licence, warranty or other contract;
Corporations Act means the Corporations Act 2001 of the Commonwealth;
council asset or liability means an asset or liability belonging to a council that is specified in a transfer notice and transferred to the Company under section 30 ;
Crown asset or liability means an asset or liability belonging to the Crown that is specified in a transfer notice and transferred to the Company under section 30 ;
director means a director of the Company;
document includes an instrument and part of a document;
effective transfer notice day means the day on which a transfer notice, or part of a transfer notice, takes effect;
legal or other proceeding includes arbitration proceedings and mediation proceedings;
liability includes any, or any part of any, liability, duty and obligation, whether actual, contingent or prospective;
member, in respect of the Company, means a member of the Company referred to in section 9 ;
principal objectives means the principal objectives of the Company specified in section 7 ;
property means –
(a) any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property; and
(b) money, documents and securities; and
(c) any other rights and property;
regulations means regulations made under section 39 ;
relevant day of transfer means –
(a) the transfer day in relation to –
(i) a transferring asset, transferring liability or transferring contract transferred under section 29 ; or
(ii) a transferring employee; or
(b) the day on which a transfer notice takes effect in relation to a transferring asset, transferring liability or transferring contract transferred by that transfer notice under section 30 ;
right includes any easement in gross, covenant in gross, other right, power, privilege and immunity, whether actual, contingent or prospective;
secondment arrangement means an arrangement under section 46 of theState Service Act 2000 for a State Service employee or State Service officer to undertake duties with the Commission or TIS Corporation;
subsidiary has the same meaning as in the Corporations Act;
[Section 4 Amended by No. 18 of 2025, s. 28, Applied:01 Jan 2026]subsidiary board, in relation to a subsidiary, means the board of directors for the subsidiary;
transfer day means 1 July 2011 or a later day declared by the Minister under section 6 to be the transfer day;
transfer notice means –
(a) a notice made under section 30 ; or
(b) a part of such a notice;
transferor –
(a) in relation to any asset, liability or contract transferred from the Commission, TIS Corporation, the Crown, a council or the Company and vested in, or transferred to, the Company or the Crown under section 29 or 30 , means the Commission, TIS Corporation, the Crown, the council or the Company; or
(b) in relation to a transferring employee, means the Commission or TIS Corporation, whichever the transferring employee performed duties for immediately before the transfer day;
transfer recipient means –
(a) the Company in relation to –
(i) an asset, liability or contract vested in or transferred to it under section 29 or 30 ; or
(ii) a transferring employee; or
(b) the Crown in relation to any asset, liability or contract vested in or transferred to it under section 30 ;
transferring asset means any asset that vests in the Company or the Crown under section 29 or 30 ;
transferring contract means any contract transferred to the Company or the Crown under section 29 or 30 ;
transferring employee means a State Service employee or State Service officer who, immediately before the transfer day, was the subject of a secondment arrangement by which he or she was required to undertake duties with the Commission or TIS Corporation;
transferring liability means any liability that becomes the liability of the Company or the Crown under section 29 or 30 ;
[Section 4 Amended by No. 18 of 2025, s. 28, Applied:01 Jan 2026]Treasurer's Instructions means instructions issued under section 114 of theGovernment Business Enterprises Act 1995 and applicable to the Company in accordance with section 13 of this Act;
[Section 4 Amended by No. 18 of 2025, s. 28, Applied:01 Jan 2026]wholly-owned subsidiary, in relation to the Company, means a subsidiary of the Company that falls within the definition of wholly-owned subsidiary, within the meaning of the Corporations Act, in respect of the Company.
5 Application of Act to subsidiary
5 Application of Act to subsidiary
If the Company arranges for any of its functions to be performed by a subsidiary, the application of this Act applies to, and in respect of –
(a) the subsidiary as if it were the Company; and
(b) the directors, and Board of Directors, of the subsidiary as if they were the directors, and Board of Directors, of the Company.
6 Transfer day
6 Transfer day
(1) The Minister, by order made before 1 July 2011, may declare a day later than that day to be the transfer day.
(2) An order under subsection (1) is a statutory rule for the purposes of the Rules Publication Act 1953 .
Part 2 Company
Part 2 Company
Division 1 Organisation and status of Company
Division 1 Organisation and status of Company
7 Principal objectives of Company
7 Principal objectives of Company
The principal objectives of the Company are –
(a) to develop, own and operate irrigation schemes in Tasmania; and
(b) [Section 7 Amended by No. 36 of 2023, s. 13, Applied:11 Dec 2023] to ensure its businesses and activities are operated effectively and efficiently, and in accordance with sound commercial practice; and
(c) [Section 7 Amended by No. 36 of 2023, s. 13, Applied:11 Dec 2023] to perform functions and exercise powers under the Irrigation Clauses Act 1973 .
8 Constitution of Company
8 Constitution of Company
(1) The constitution of the Company is to include the principal objectives of the Company.
(2) The provisions of the constitution of the Company are to be consistent with this Act.
(2A) [Section 8 Subsection (2A) inserted by No. 18 of 2025, s. 29, Applied:01 Jan 2026] As soon as practicable after the commencement of this subsection, the Company is to amend its constitution to include provisions to the effect of the provisions specified in Schedule 2 .
(3) The Board –
(a) is to provide to the Minister a copy of the constitution of the Company as soon as practicable after the commencement of this Act; and
(b) is to provide to the Minister a copy of an amendment to the constitution of the Company as soon as practicable after that amendment is made.
(4) The Minister is to cause a copy of the constitution of the Company and each amendment to that constitution to be laid before each House of Parliament within 7 sitting-days of receiving it from the Company under subsection (3) .
9 Members of Company
9 Members of Company
(1) The members of the Company are to be 2 persons of whom –
(a) one is the Minister; and
(b) one is the Treasurer.
(2) [Section 9 Subsection (2) substituted by No. 18 of 2025, s. 30, Applied:01 Jan 2026] If, at any one time, one person is both the Minister and Treasurer –
(a) the Treasurer must nominate another Minister, being a different person, to be a member of the Company; and
(b) a reference in this Act to the Minister is taken to be a reference to the other Minister so nominated; and
(c) a reference in this Act, or any other Act, to the members of the Company is taken to include a reference to the other Minister so nominated.
(3) [Section 9 Subsection (3) inserted by No. 18 of 2025, s. 30, Applied:01 Jan 2026] If the Treasurer nominates another Minister as a member of the Company, the Treasurer is to notify the Company in writing of that fact, as soon as practicable after the Treasurer makes the nomination.
10 Shares
10 Shares
(1) Shares in the Company held by the members are held in trust for the Crown.
(2) A member of the Company who holds shares in trust for the Crown is not to acquire shares in the Company for his or her own benefit.
(3) Any shares acquired in the Company in contravention of subsection (1) are taken to be held in trust for the Crown but the Crown is not liable to meet the cost of that acquisition.
11 Consideration for further shares
11 Consideration for further shares
The consideration for any further shares issued to the members of the Company after the commencement of this section is to be any one or more of the following as agreed between the Company and its members:
(a) any money provided by Parliament for that purpose;
(b) any assets vested in the Company under section 29 or 30 ;
(c) any other consideration as so agreed.
11A Limitations on members of Company
11A Limitations on members of Company
[Section 11A Inserted by No. 20 of 2025, s. 14, Applied:27 Nov 2025]
(1) A member of a Company must not sell or otherwise dispose of shares held by that member in trust for the Crown.
(2) A member of a Company must not vote at a meeting of the shareholders of the Company to allow the Company to –
(a) offer shares in the Company for subscription; or
(b) invite persons to subscribe for shares in the Company; or
(c) allot or issue shares in the Company on a basis other than to existing shareholders pro rata to their existing shareholding.
(3) If an Act intends to amend or repeal subsection (1) , that Act is of no effect unless a motion that approves the proposed amendment or repeal has first been passed by at least two-thirds of the members of each House of Parliament.
(4) For the avoidance of doubt, if there is an inconsistency between this section and the constitution, this section prevails to the extent of the inconsistency.
12 Status of Company
12 Status of Company
(1) Unless this or any other Act expressly provides otherwise, the Company –
(a) is not, and does not represent, the Crown; and
(b) is not exempt from any rates, tax, duty or other impost under any law merely because the Crown has beneficial ownership of shares in it; and
(c) is not subject or entitled to any prerogative right or privilege of the Crown.
(2) [Section 12 Subsection (2) substituted by No. 22 of 2023, s. 20, Applied:01 Jul 2023] The Crown is not liable for any liability or obligation of the Company or subsidiary of the Company unless –
(a) the Treasurer gives a guarantee or indemnity under section 16 in relation to that liability or obligation; or
(b) a guarantee is given under the Tasmanian Public Finance Corporation Act 1985 in respect of the Company or subsidiary.
13 Members' statement of expectations
13 Members' statement of expectations
[Section 13 Substituted by No. 9 of 2018, s. 19, Applied:10 Sep 2018]
(1) The members are to provide the Board with a statement of expectations.
(2) The statement of expectations is to specify –
(a) the expectations of the members in relation to the strategic priorities of the Company; and
(b) the policy expectations of the members for the performance of the Company and its subsidiaries.
(3) The members, at any time, may at their own discretion or on the application of the Board –
(a) amend the statement of expectations; or
(b) revoke the statement of expectations
This is an opening excerpt, not the complete document.