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Queensland act
What the Act does, in plain language
Mechanically, the Act removes TAB Queensland Limited (TABQ) from being a Government-Owned Corporation (GOC) for the purposes of the GOC Act while preserving its status under the Corporations Law (sec 3). The Act’s stated object is to "facilitate the sale by the State of TABQ" (sec 4).
It defines the sale process and the moment of listing for sale (the "listing day") and makes Part 2 of the Act operate until that listing day (secs 5–8). The sale process means disposing of all issued shares held by Ministers on behalf of the State (sec 5); the listing day is when shares are quoted on the ASX (sec 6; sec 8).
The Act centralises decision-making for the sale in the nominated Act Ministers (who must act jointly unless one person holds both offices) (sec 7). Those Ministers may exercise a broad range of powers to carry out the sale, including binding the State, executing share transfer documents on the State’s behalf (sec 14(1)–(2); sec 15), and giving directions to TABQ’s board about anything the Ministers consider necessary or convenient for the sale (sec 16(1)–(2)). Directions given to the board must be published in the gazette within 21 days (sec 16(3)).
The Act gives special corporate governance mechanisms to permit the Ministers to act without typical shareholder meetings: a document signed by the Act Ministers that states a resolution is favoured is treated as if the resolution were passed at a general meeting (sec 9). The Ministers may amend TABQ’s constitution and may direct subsidiary constitutions to be amended (secs 10–11).
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Direct links to the current provisions in TAB Queensland Limited Privatisation Act 1999.
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View on official registerSourced from Queensland Legislation (legislation.qld.gov.au), CC BY 4.0.
The Act preserves and prescribes certain board composition rules: the Governor in Council continues to appoint TABQ directors and must have regard to their ability to contribute to TABQ’s commercial performance (sec 12). Several of these provisions operate despite, or in preference to, the Corporations Law (secs 13, 50).
Employee protections and continuity: employees’ benefits, entitlements (including leave and superannuation), continuity of service and industrial instruments are protected from being reduced or treated as retrenchment because of the change in TABQ’s GOC status (sec 41). Certain GOC Act provisions applying immediately before removal continue to apply to particular employees as if TABQ remained a GOC (sec 42).
For TABQ group companies that hold gaming monitoring or wagering licences, the Act mandates specific constitution clauses: companies must have constitutions under the Corporations Act and must require the head office and specified operational functions to be located in Queensland, at least three directors ordinarily resident in Queensland, the CEO ordinarily resident in Queensland, annual general meetings in Queensland, at least four board meetings in Queensland each year and the strategic planning meeting in Queensland (sec 44). Resolutions that would remove or alter those mandatory requirements have no effect (sec 45).
Enforcement is by the Minister applying to the Supreme Court for injunctions or other orders to restrain or require conduct that would contravene those mandatory constitutional requirements; the Supreme Court’s jurisdiction in these matters is exclusive (secs 46–48). The Minister may delegate the power to apply to the court to the department’s chief executive (sec 49).
Tax and financial consequences: State tax is not payable in relation to anything done for the sale process, and people are not required to lodge returns or include sale-process information in returns under State tax laws (sec 51). Amounts that were payable by TABQ under the GOC Act’s tax-equivalent provisions remain payable as if TABQ were still a GOC, although the Treasurer may waive such amounts (sec 52). The Minister may issue a certificate evidencing a tax exemption or waiver (sec 53).
Legal protection for government action and parties: actions taken under the Act are stated not to place TABQ or the State in breach of contract, trust or confidence, nor to constitute a civil wrong, and where advice/consent/notice would otherwise be required under instruments that requirement is taken to have been obtained or given (sec 54).
Immunities and shifting of liability: a TABQ director who acts in good faith to comply with directions from the Act Ministers is protected from civil liability; any liability that would have attached to the director attaches instead to the State. The same protection and attachment-to-State rule applies to Act Ministers and the Minister acting honestly and without negligence under the Act (secs 56–57).
The Governor in Council may make regulations under the Act (sec 59).
Why the Act exists and how that compares to its practical effects
The Act expressly aims to facilitate sale of TABQ (sec 4). It accomplishes that by concentrating coordination and transaction authority in the Act Ministers (secs 7, 14–16), by creating procedural shortcuts for corporate decision-making (ministerial documents treated as general meetings; sec 9), and by removing some ordinary procedural and tax frictions for the sale (sec 51, sec 54).
Costs, incentives and trade-offs visible in the text:
Enforcement and remedy structure: the Minister’s ability to seek injunctions and other orders from the Supreme Court (secs 46–47) and the Court’s exclusive jurisdiction (sec 48) concentrate legal remedies in one forum and give the Minister a primary gatekeeper role (sec 49). The Supreme Court may grant interim relief without the Minister giving an undertaking as to damages (sec 46(9)).
Net practical effect (mechanical, not normative)