South Australia regulation

Public Corporations (General) Regulations 2023

In ForceSA

Jurisdiction

South Australia

Collection

regulation

Plain English Summary

2/10 complexity

These regulations require senior executives of public corporations and their subsidiaries to disclose specified pecuniary interests and set out the exact information to be provided (reg 4(1)). They list six categories of interests (contracts, offices, investments, land, trusts, and Minister‑determined interests) and the data required for each. The compliance burden falls on the senior executives who must describe amounts, sources and locations; the Minister may add further interest types or information to be disclosed (reg 4(1)(b)(ii); reg 4(2)(c)).

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Current sections

Direct links to the current provisions in Public Corporations (General) Regulations 2023.

Public Corporations (General) Regulations 2023

South Australia Public Corporations (General) Regulations 2023 under the Public Corporations Act 1993

Contents 1 Short title 2 Commencement 3 Interpretation 4 Disclosure of pecuniary interests Schedule 1—Repeal of Public Corporations (General) Regulations 2008 Legislative history

1—Short title These regulations may be cited as the Public Corporations (General) Regulations 2023. 2—Commencement These regulations come into operation on the day on which they are made. 3—Interpretation In these regulations— Act means the Public Corporations Act 1993. 4—Disclosure of pecuniary interests (1) The table below specifies— (a) the pecuniary interests to be disclosed by the following persons: (i) a senior executive of a public corporation for the purposes of section 36B of the Act; (ii) a senior executive of a subsidiary for the purposes of clause 14B of the Schedule to the Act; and (b) the information that must be disclosed by the senior executive in respect of any such pecuniary interest.

Pecuniary interest Information required 1 A contract of service, office, trade, vocation, business or profession in respect of which the person receives or is entitled to receive any remuneration, fee or other pecuniary sum (not being payable under the Act) A description of the contract, office, trade, vocation, business or profession and the amount and source of the remuneration, fee or other pecuniary sum. 2 An office held by the person (whether as a director or otherwise) in a company or other body (whether or not incorporated) in respect of which the person received or is entitled to receive any remuneration, fee or other pecuniary sum The name and address of the company or other body and the amount of the remuneration, fee or other pecuniary sum. 3 A company, partnership, association or other body in which the person is an investor The name and address or description of the company, partnership, association or other body. 4 Land in which the person has a beneficial interest (other than by way of security for a debt) The address or description of the land. 5 A trust (other than a testamentary trust) of which the person is a beneficiary or trustee A description of the trust and the name and address of each trustee. 6 Any other pecuniary interest of the person of a kind determined by the Minister The information required by the Minister to be disclosed in respect of that pecuniary interest. (2) For the purposes of this regulation— (a) a reference to a beneficial interest in land includes a reference to a right to reacquire land; (b) a person who is an object of a discretionary trust is to be taken to be a beneficiary of that trust; (c) a person is an investor in a body if— (i) the person has deposited money with, or lent money to, the body that has not been repaid and the amount not repaid equals or exceeds $10 000; or (ii) the person holds, or has a beneficial interest in, shares in, or debentures of, the body or a policy of life insurance issued by the body. Schedule 1—Repeal of Public Corporations (General) Regulations 2008 The Public Corporations (General) Regulations 2008 are repealed. Legislative history Notes • For further information relating to the Act and subordinate legislation made under the Act see the Index of South Australian Statutes or www.legislation.sa.gov.au. Principal regulations Year No Reference Commencement 2023 90 Gazette 16.8.2023 p3004 16.8.2023: r 2

Source text

Sourced from South Australian Legislation (legislation.sa.gov.au), CC BY 4.0.

1 Public Corporations (General) Regulations 2023

South Australia Public Corporations (General) Regulations 2023 under the Public Corporations Act 1993

Contents 1 Short title 2 Commencement 3 Interpretation 4 Disclosure of pecuniary interests Schedule 1—Repeal of Public Corporations (General) Regulations 2008 Legislative history

Pecuniary interest Information required 1 A contract of service, office, trade, vocation, business or profession in respect of which the person receives or is entitled to receive any remuneration, fee or other pecuniary sum (not being payable under the Act) A description of the contract, office, trade, vocation, business or profession and the amount and source of the remuneration, fee or other pecuniary sum. 2 An office held by the person (whether as a director or otherwise) in a company or other body (whether or not incorporated) in respect of which the person received or is entitled to receive any remuneration, fee or other pecuniary sum The name and address of the company or other body and the amount of the remuneration, fee or other pecuniary sum. 3 A company, partnership, association or other body in which the person is an investor The name and address or description of the company, partnership, association or other body. 4 Land in which the person has a beneficial interest (other than by way of security for a debt) The address or description of the land. 5 A trust (other than a testamentary trust) of which the person is a beneficiary or trustee A description of the trust and the name and address of each trustee. 6 Any other pecuniary interest of the person of a kind determined by the Minister The information required by the Minister to be disclosed in respect of that pecuniary interest. (2) For the purposes of this regulation— (a) a reference to a beneficial interest in land includes a reference to a right to reacquire land; (b) a person who is an object of a discretionary trust is to be taken to be a beneficiary of that trust; (c) a person is an investor in a body if— (i) the person has deposited money with, or lent money to, the body that has not been repaid and the amount not repaid equals or exceeds $10 000; or (ii) the person holds, or has a beneficial interest in, shares in, or debentures of, the body or a policy of life insurance issued by the body. Schedule 1—Repeal of Public Corporations (General) Regulations 2008 The Public Corporations (General) Regulations 2008 are repealed. Legislative history Notes • For further information relating to the Act and subordinate legislation made under the Act see the Index of South Australian Statutes or . Principal regulations Year No Reference Commencement 2023 90 Gazette 16.8.2023 p3004 16.8.2023: r 2