Page 4814 - Week 16 - Thursday, 29 November 1990
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Ministers will be the only shareholders who have voting rights. Boards of the corporations will be chosen by the voting shareholders, based on the expertise that they can bring to assisting the corporation to achieve its objectives. The accountability provisions include requirements that the memorandum and articles of association of the corporation, and any variations, be tabled in the Assembly. A statement of corporate intent, detailing the corporate and business strategies and related information of the company, will also be tabled in the Assembly.
Bearing in mind the experiences of some States with government enterprises, the Territory Auditor-General is to be the auditor for all Territory owned corporations. This will not, of course, prevent the Auditor-General from contracting out work to the private sector where necessary. Underpinning the Bill is a paper that sets out the principles and arrangements of the Government's corporatisation policy. It has not been appropriate to incorporate all of that policy in this Bill, but I encourage members to read the two documents concurrently.
Consistent with my announcement in the budget regarding consultation on the corporatisation initiative, my department is undertaking discussions with a wide range of interested parties, including the unions, business representatives and the Commonwealth. Those discussions are presently focusing on the broad principles of the corporatisation policy, as outlined in the principles and arrangements paper. Details of the Bill are set out in the explanatory memorandum. I now table the following papers:
Explanatory memorandum to the Bill.
Principles and Arrangements for Implementation of the Corporatisation Model Within the ACT Public Sector.
Mr Speaker, I commend the Bill to the Assembly.
Debate (on motion by Ms Follett) adjourned.
POSTPONEMENT OF NOTICE
Motion (by Mr Kaine) agreed to:
That notice No. 2, executive business, be postponed until a later hour this day.
Sitting suspended from 12.28 to 2.30 pm
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