3Definitions

3 Definitions

3 Definitions

(1) In this Act—

assets means any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property of any description (including money), and includes securities, choses in action and documents.

board means the board of directors of a State owned corporation or of any of its subsidiaries.

company State owned corporation or company SOC means a company for the time being specified in Schedule 1.

constitution for a SOC or subsidiary means—

(a) in relation to a company SOC—the constitution of that company within the meaning of the Corporations Act 2001 of the Commonwealth, or

(b) in relation to a statutory SOC—the constitution of the SOC referred to in section 20Q, or

(c) in relation to a subsidiary that is a company within the meaning of the Corporations Act 2001 of the Commonwealth—the constitution of the company within the meaning of that Act, or

(d) in relation to a subsidiary that is not a company—the subsidiary’s charter or memorandum and articles of association.

eligible Ministers means—

(a) in relation to a company SOC or proposed company SOC or any of its subsidiaries—the Treasurer and 4 or more other Ministers for the time being nominated by the Premier as being eligible to hold shares in the SOC, or

(b) in relation to a statutory SOC or proposed statutory SOC or any of its subsidiaries—the Treasurer and another Minister for the time being nominated by the Premier as a voting shareholder of the SOC.

foundation charter of a statutory SOC means the Act by which the name of the SOC is inserted in Schedule 5, or some other Act specified by an Act as its foundation charter, and includes any replacement Act.

government entity means—

(a) a State department, administrative office, instrumentality, agency, authority or entity, that is not a corporation, or

(b) a division, branch or other part of such a department, office, instrumentality, agency, authority or entity.

liabilities means liabilities, debts and obligations (whether present or future and whether vested or contingent).

portfolio Minister—see section 20I.