Tasmanian Development Act 1983
An Act to provide for the balanced economic development of Tasmania and for the establishment and operation of an authority for that purpose, to provide for related matters, and to repeal certain enactments
[Royal Assent 20 December 1983]
Be it enacted by His Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows:
PART I - Preliminary
This Act may be cited as the Tasmanian Development Act 1983 .
(1) This section, sections 1 , 3 , and 16 (3) , and Part I of Schedule 3 shall commence on the day on which this Act receives the royal assent.(2) Except as provided in subsection (1) , this Act shall commence on a date to be fixed by proclamation.
[Section 3 Amended by No. 29 of 1984, sched. 1 ][Section 3 Amended by No. 39 of 1986, s. 4 ][Section 3 Amended by No. 68 of 1994 ][Section 3 Substituted by No. 76 of 1995, s. 4 ](1) In this Act, unless the contrary intention appears –annual report means the annual report for TDR prepared under section 29E ;Australian Accounting Standards means Statements of Accounting Standards issued jointly by the National Councils of the Australian Society of Certified Practising Accountants and The Institute of Chartered Accountants in Australia or their successors;Authority means the Tasmanian Development Authority as existing on 30 June 1995;authorized officer means an officer of TDR to whom any of its functions or powers is delegated under section 19 (1) ;Board means Tasmania Development and Resources Board;business undertaking includes the provision of services;chairperson means the chairperson of the Board appointed under section 5 (3) ;chief executive means the chief executive appointed under section 5 (3) ;commencement day means the day fixed under section 2 (2) ;corporate plan means the corporate plan approved under section 15A ;director means a person appointed as a director under section 5 ;financial statements means the financial statements prepared under section 29B and includes the consolidated financial statements prepared in respect of TDR and all its subsidiaries under that section;financial year means a period of 12 months ending on 30 June in any year;functions includes duties;officer of TDR means a person appointed and holding office under section 16 ;Primary Industry Bank means the Australian Resources Development Bank Limited, incorporated in Victoria;public authority means a body corporate that is constituted or established by or under an Act, or appointed by the Governor by or under the authority of an Act, for a public purpose;repealed Act means an Act specified in Schedule 5 or a corresponding former enactment;statement of corporate intent has the meaning given by section 15C ;TDR means Tasmania Development and Resources;TDR Act means an Act administered by TDR under the Administrative Arrangements Act 1990 .(2) [Section 3 Subsection (2) amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001] In this Act a reference to a subsidiary has the meaning given by the Corporations Act as if TDR were a corporation within the meaning of that Act.
PART II - [Part II Heading substituted by No. 76 of 1995, s. 5 ]Tasmania Development and Resources
Division 1 - [Part II, Div. 1 Heading amended by No. 63 of 1996, s. 8 ]Establishment and composition of TDR, &c.
4. Establishment of Tasmania Development and Resources
(1) [Section 4 Subsection (1) substituted by No. 76 of 1995, s. 6 ]The Tasmanian Development Authority is continued as a body corporate with the corporate name of Tasmania Development and Resources.(2) [Section 4 Subsection (2) amended by No. 76 of 1995, s. 28 and Sched. 1 ]TDR –(a) has perpetual succession;(b) shall have a common seal;(c) may take proceedings, and be proceeded against, in its corporate name;(d) may do, and be subject to, all other things that a body corporate may by law do and be subject to and that may be necessary for, or incidental to, the purposes of this Act; and(e) has the functions imposed, and the powers conferred, on it by, or under, this or any other Act.(3) [Section 4 Subsection (3) amended by No. 76 of 1995, s. 28 and Sched. 1 ]The common seal of TDR shall not be affixed to a document except in pursuance of a resolution of TDR and every sealing shall be authenticated by the signature of –(a) 2 directors; or(b) a director and an officer of TDR who is an authorized officer for the purpose of that sealing.(4) [Section 4 Subsection (4) amended by No. 76 of 1995, s. 28 and Sched. 1 ]All courts, judges, and persons acting judicially shall take judicial notice of the common seal of TDR affixed to a document and, unless the contrary is established, shall presume that it was duly affixed.
(1) [Section 5 Subsection (1) substituted by No. 76 of 1995, s. 7 ]The affairs and activities of TDR are to be conducted by a Board of Directors to be known as Tasmania Development and Resources Board.(2) [Section 5 Subsection (2) amended by No. 22 of 2008, s. 4, Applied:12 Oct 2005] [Section 5 Subsection (2) substituted by No. 76 of 1995, s. 7 ]The Board consists of not more than 9 directors including the chairperson.(3) [Section 5 Subsection (3) amended by No. 76 of 1995, s. 7 and s. 28 and Sched. 2 ]Each of the directors shall be appointed by the Governor on the nomination of the Minister and, by an instrument of appointment under this section –(a) one of the directors shall be appointed as chairperson of the Board; and[Section 5 Subsection (3) amended by No. 9 of 1997, s. 4, Applied:19 May 1997](b) another of the directors shall be appointed as chief executive.[Section 5 Subsection (3) amended by No. 9 of 1997, s. 4, Applied:19 May 1997](3A) [Section 5 Subsection (3A) inserted by No. 76 of 1995, s. 7 ]The Minister must not make a nomination under subsection (3) unless he or she is satisfied that the person nominated has the experience and skills necessary to enable TDR to achieve its objectives.(4) Schedule 1 has effect with respect to the directors.(5) Schedule 2 has effect with respect to the meetings of the Board.
6. Appointment and duties of chief executive
[Section 6 Substituted by No. 76 of 1995, s. 8 ](1) [Section 6 Subsection (1) amended by No. 86 of 2000, Sched. 1, Applied:01 May 2001] The chief executive is, subject to Schedule 1 , to be appointed on such terms and conditions as are specified in the instrument of his or her appointment and may hold that appointment in conjunction with State Service employment.(2) The chief executive is responsible to the Board for the conduct of the affairs and activities of TDR in accordance with –(a) any directions given to him or her by the Board; and(b) in a case where he or she is a delegate of TDR under section 19 (1) , any condition or limitation that is applicable to him or her under that section.(3) The chief executive must, on request by the Board, provide the Board with such information as it may require relating to the affairs and activities of TDR.(4) The appointment or employment of a person as chief executive is not invalid by reason only of a defect or irregularity in relation to the appointment or contract of employment.
[Section 6A Inserted by No. 76 of 1995, s. 9 ](1) For the purposes of this section, the chief executive is absent if he or she –(a) is absent from duty; or(b) is otherwise unable to perform the functions of the office of chief executive; or(c) has died, resigned or been removed from office and a new chief executive has not been appointed.(2) The Minister may appoint a person who is eligible to be appointed as chief executive to act as chief executive during any or every period during which the chief executive is absent.(3) [Section 6A Subsection (3) amended by No. 86 of 2000, Sched. 1, Applied:01 May 2001] An appointment is for such term, not exceeding 6 months, as is specified in the instrument of appointment and may be held in conjunction with State Service employment.(4) While a person appointed under subsection (2) is acting as chief executive, that person is taken to be the chief executive.(5) Section 6 (1) applies in relation to the appointment of an acting chief executive as if it were an appointment of a chief executive.
Division 2 - [Part II, Div. 2 Heading amended by No. 76 of 1995, s. 28 and Sched. 1 ]Functions, powers, &c., of TDR
[Section 7 Amended by No. 76 of 1995, s. 28 and Sched. 1 ]It is the duty of TDR, within the limits of its powers, to encourage and promote the balanced economic development of Tasmania, and to ensure that its policies are directed to the greatest advantage of the people of Tasmania and that its powers under this Act or any other Act are exercised in such a manner as, in its opinion, will best contribute to –(a) the stability of business undertakings in Tasmania;(b) the maintenance of maximum employment in Tasmania; and(c) the prosperity and welfare of the people of Tasmania.
(1) [Section 8 Subsection (1) amended by No. 36 of 1988, s. 4 ][Section 8 Subsection (1) amended by No. 76 of 1995, s. 10 ]TDR has, in addition to the functions conferred on it under any other Act, the following functions:(a) to develop and carry out measures to encourage, monitor and promote employment in the private sector in Tasmania;(b) to develop and carry out measures to promote investment in Tasmania;(c) to promote co-operation between the public and private sectors for the purpose of any such measures;(d) to support and expand existing business undertakings and business opportunities in Tasmania;(e) to conduct research for the purpose of the development or establishment in Tasmania of business undertakings;(f) if so requested by the Treasurer, to disburse on behalf of the Crown –(i) any money payable as relief following a bushfire, drought, earthquake, flood, tempest, or other occurrence causing loss of life or property or injury to persons or property or distress to persons; or(ii) any money payable to the Crown as mentioned in section 10 ;(g) to administer the TDR Acts.(2) [Section 8 Subsection (2) inserted by No. 76 of 1995, s. 10 ]Where TDR is responsible under the Administrative Arrangements Act 1990 for the administration of an Act which confers functions or powers on a person or body, the administration of that Act by TDR does not derogate from the functions or powers of that person or body.
(1) [Section 9 Subsection (1) amended by No. 76 of 1995, s. 28 and Sched. 1 ]For the purposes of this Act, TDR has, in addition to the powers conferred on it under any other Act but subject to any duty arising under section 11 (1) on the Minister giving it a statement of policy objectives, the powers specified in this section.(2) [Section 9 Subsection (2) amended by No. 55 of 1985, s. 4 ][Section 9 Subsection (2) amended by S.R. 1987 No. 66 ][Section 9 Subsection (2) amended by S.R. 1987 No. 187 ][Section 9 Subsection (2) amended by S.R. 1989 No. 80 ][Section 9 Subsection (2) amended by S.R. 1991 No. 261 ][Section 9 Subsection (2) amended by S.R. 1992 No. 169 ][Section 9 Subsection (2) amended by No. 76 of 1995, s. 11 and s. 28 and Sched. 1 ]TDR may –(a) acquire, develop, and dispose of land as provided by sections 12 , 13 , and 14 ;(b) [Section 9 Subsection (2) amended by S.R. 2016, No. 48, Applied:08 Apr 2016] [Section 9 Subsection (2) amended by No. 13 of 2024, s. 4, Applied:05 Sep 2024] subject to subsections (3) and (4) , make a loan of money to any person on such terms and conditions as TDR thinks fit so long as the principal amount of the loan, or, in the case of 2 or more loans to that person, the aggregate of the principal amount of those loans, does not exceed $15 000 000;(c) subject to subsection (5) , make a grant of money for such purpose and on such terms and conditions as the Minister may approve to any person in order to –(i) assist in the development, expansion, or retention of a business undertaking in Tasmania; or(ii) conduct research or experiments for the purpose of the establishment or development of a business undertaking in Tasmania;(d) [Section 9 Subsection (2) amended by S.R. 1999, No. 98, Applied:29 Sep 1999] [Section 9 Subsection (2) amended by No. 13 of 2024, s. 4, Applied:05 Sep 2024] if it considers it to be of special significance to the development of the Tasmanian economy, acquire, with the approval of the Minister, an interest in a business undertaking at a cost not exceeding $35 000 000;(e) recommend to the Minister that he grant a loan of money as provided by section 35 ;(f) recommend to the Treasurer that he guarantee in accordance with section 36 the repayment of any money lent or agreed to be lent or the performance of any obligation referred to in subsection (1) (b) of that section;(fa) act as agent of the Minister or of the Minister in charge of tourism for the purpose of the performance of his functions under section 37 (3) (a) ;(g) make arrangements for the purpose of facilitating the establishment of co-operative organizations of persons engaged in any business undertaking;(h) represent, or appoint a person to represent, TDR on the governing body of any organization of persons engaged in any business undertaking that is a business undertaking to which assistance under this Act is granted or is proposed to be granted;(i) provide advice and technical assistance to any person in connection with a business undertaking;(j) may act as agent for any person in connection with a business undertaking that is, or is proposed to be, carried on in Tasmania or elsewhere;(k) may make a charge for any of its services provided under this Act; and(l) may do any other act, matter, or thing as may be necessary or expedient for the performance of its functions under this or any other Act.(3) A loan of money shall not be made to a person under subsection (2) (b) if the effect of making the loan would be that the total of the amounts borrowed by that person at that time exceeds 80 per cent of the value of the total available security.(4) [Section 9 Subsection (4) amended by S.R. 1987 No. 66 ][Section 9 Subsection (4) amended by No. 76 of 1995, s. 28 and Sched. 1 ]Notwithstanding subsection (3) , TDR may, in any case where it is satisfied that there are special reasons for doing so –(a) [Section 9 Subsection (4) amended by S.R. 2005, No. 113, Applied:01 Jan 2004] [Section 9 Subsection (4) amended by S.R. 2016, No. 48, Applied:08 Apr 2016] [Section 9 Subsection (4) amended by No. 13 of 2024, s. 4, Applied:05 Sep 2024] make a loan to a person with or without security and with or without interest so long as the principal amount of the loan or, in the case of 2 or more loans under this subsection, the aggregate of those loans does not exceed $500 000; and(b) [Section 9 Subsection (4) amended by S.R. 2005, No. 113, Applied:01 Jan 2004] [Section 9 Subsection (4) amended by No. 13 of 2024, s. 4, Applied:05 Sep 2024] may, with the approval of the Minister, discharge any person from any liability not exceeding $50 000 arising from any loan to that person under this section.(5) [Section 9 Subsection (5) amended by S.R. 1987 No. 66 ]For the purpose of subsection (2) (c) –(a) [Section 9 Subsection (5) amended by S.R. 2005, No. 113, Applied:01 Jan 2004] [Section 9 Subsection (5) amended by S.R. 2016, No. 48, Applied:08 Apr 2016] where the amount of the grant is not more than $500 000, the grant shall be for such purpose and on such terms and conditions as the Minister may approve; and(b) [Section 9 Subsection (5) amended by S.R. 2005, No. 113, Applied:01 Jan 2004] [Section 9 Subsection (5) amended by S.R. 2016, No. 48, Applied:08 Apr 2016] where the amount of the grant is more than $500 000, the grant shall be for such purpose and on such terms and conditions as the Treasurer and the Minister may approve.(6) The Governor may, by order, amend a provision of this section by omitting a reference to an amount specified in that provision and substituting a reference to some other amount specified in the order.(7) [Section 9 Subsection (7) inserted by No. 13 of 2024, s. 4, Applied:05 Sep 2024] An amendment made, by the Tasmanian Development Amendment Act 2024, to an amount specified in a provision of this section does not prevent that amount, or any other amount, from being amended or further amended by an order made in accordance with subsection (6) .
10. Disbursement of Commonwealth money
[Section 10 Amended by No. 76 of 1995, s. 28 and Sched. 1 ]Where any money is payable to the Crown pursuant to an agreement between the Commonwealth and the State, the Governor may, by order, authorize TDR to disburse, in accordance with the agreement and any directions specified in the order, any money paid to the Crown pursuant to that agreement.
11. Duty to comply with statement of policy objectives
(1) [Section 11 Subsection (1) amended by No. 76 of 1995, s. 28 and Sched. 1 ]The Minister may, from time to time, give to TDR a statement in writing specifying the policy objectives of the Government of Tasmania with respect to any matter relating to the powers, duties, affairs, or activities of TDR and, on being given such a statement, it is the duty of TDR to exercise its powers, to perform its duties, and to conduct its affairs and activities in a manner that is consistent with the objectives specified in the statement.(2) [Section 11 Subsection (2) amended by No. 76 of 1995, s. 28 and Sched. 1 ]The Minister may, by notice in writing given to TDR, vary or revoke a statement of policy objectives given under subsection (1) and such a notice shall have effect according to its tenor.(3) [Section 11 Subsection (3) amended by No. 76 of 1995, s. 28 and Sched. 1 ]The fact that the Minister has power to give a statement of policy objectives to TDR under subsection (1) or gives such a statement to TDR does not have the effect of –(a) making TDR the servant or agent of the Crown for the purposes of this or any other Act; or(b) conferring on TDR any status, privilege, or immunity of the Crown.
12. Acquisition of land for business undertakings
(1) [Section 12 Subsection (1) amended by No. 76 of 1995, s. 28 and Sched. 1 ]TDR may, with the approval of the Minister, acquire land for the purpose of a business undertaking or for the purpose of establishing, developing, or expanding business undertakings generally.(2) Any land acquired under this section may be subsequently leased or sold in accordance with section 14 .
13. Development of land acquired
[Section 13 Amended by No. 76 of 1995, s. 28 and Sched. 1 ]TDR may, with the approval of the Minister, carry out, or arrange for the carrying out of, the development of any land acquired under section 12 in such manner as it may determine.
14. Disposal of land purchased for new industries
(1) [Section 14 Subsection (1) amended by No. 76 of 1995, s. 28 and Sched. 1 ]TDR may, with the approval of the Minister, dispose of any land acquired under section 12 to a person who has an interest in a business undertaking –(a) by granting a lease of the land for such term as TDR thinks fit, and containing such terms and conditions as it thinks fit; or(b) by selling the land on such terms and conditions as it thinks fit.(2) Any land that is leased to a person in accordance with subsection (1) (a) may be sold subsequently to that person or his assigns in accordance with subsection (1) (b) .
15. Power of TDR to engage consultants, &c.
[Section 15 Amended by No. 76 of 1995, s. 28 and Sched. 1 ]TDR may, for the purposes of performing its functions or exercising its powers under this Act –(a) engage such consultants and other independent contractors as it deems fit; and(b) obtain assistance, information, and advice from any person.
[Section 15A Inserted by No. 76 of 1995, s. 12 ](1) In each financial year, the Board must prepare a corporate plan for TDR and its subsidiaries.(2) The corporate plan is to –(a) cover a period of not less than 3 financial years commencing on the day when it takes effect; and(b) contain a summary of the projected financial results of TDR and each of its subsidiaries in respect of the current financial year and each financial year covered by the plan; and(c) contain a summary of the financial results of TDR and each of its subsidiaries in respect of the financial year immediately preceding the current financial year; and(d) contain a statement of corporate intent; and(e) be in such form and contain such information as the Minister specifies.(3) The Board must provide a draft of the corporate plan to the Minister and the Treasurer not later than 90 days before the day on which the corporate plan will take effect.(4) When a draft corporate plan is approved by the Minister it becomes the corporate plan of TDR.(5) The Minister must approve a corporate plan, prepared in accordance with this section and section 15B , by not later than 30 days before the day on which the corporate plan will take effect.(6) A corporate plan takes effect on the first day of the financial year next commencing after its approval by the Minister or such other time as the Minister may approve.(7) TDR may prepare an amendment of its corporate plan at any time.(8) An amendment of a corporate plan takes effect when it is approved by the Minister.(9) The Board must provide a copy of its corporate plan and an amended corporate plan to the Treasurer within 14 days after the Board has been notified of its approval by the Minister.(10) Except where the Minister otherwise approves, TDR must act in accordance with its corporate plan or amended corporate plan and ensure that a subsidiary acts in accordance with that corporate plan or amended corporate plan.
15B. Consultation with Minister
[Section 15B Inserted by No. 76 of 1995, s. 12 ](1) In the course of preparing a draft corporate plan, the Board must consult with the Minister in relation to the interests of the State as a whole and the long term objectives of TDR and its subsidiaries.(2) The Minister may give a direction to the Board in relation to a long term objective of TDR and its subsidiaries.(3) Subject to subsection (4) , the Board must comply with a direction if it is in writing and signed by the Minister.(4) A direction has no effect in respect of a contract entered into by TDR before the direction was given if compliance with the direction would result in TDR failing to perform the contract.
15C. Statement of corporate intent
[Section 15C Inserted by No. 76 of 1995, s. 12 ](1) The statement of corporate intent of TDR is a summary of its corporate plan.(2) The statement of corporate intent of TDR must not disclose any information which the Minister considers may, if disclosed –(a) disadvantage or cause damage to TDR, directly or indirectly; or(b) enable another person, directly or indirectly, to gain an advantage.(3) The statement of corporate intent is to be in a form and contain the information specified by the Minister.
15D. Strategic and operating plans
[Section 15D Inserted by No. 76 of 1995, s. 12 ](1) The strategic plan of the Authority in force immediately before the commencement of the Tasmanian Development Amendment Act 1995 together with its operating plan in force immediately before that day is taken to be a corporate plan of TDR that takes effect on that commencement.(2) TDR must prepare a statement of corporate intent in respect of the corporate plan referred to in subsection (1) in sufficient time to enable it to be included in the annual report in respect of the financial year ending on 30 June 1995.(3) In subsection (1) ,operating plan and strategic plan have the same meanings as in the State Authorities Financial Management Act 1990 as in force immediately before 1 July 1995.
[Section 15E Inserted by No. 76 of 1995, s. 12 ]Anything done by, or in relation to, TDR is not void or unenforceable only because TDR has contravened this Part.
Division 3 - [Part II, Div. 3 Heading amended by No. 76 of 1995, s. 28 and Sched. 1 ]Officers, &c., of TDR
[Section 16 Subsection (1) amended by No. 76 of 1995, s. 13 and s. 28 and Sched. 2 ][Section 16 Substituted by No. 86 of 2000, Sched. 1, Applied:01 May 2001] Subject to and in accordance with the State Service Act 2000 , persons may be appointed or employed for the purpose of enabling TDR to perform its functions or exercise its powers.[Section 17 Subsection (1) substituted by No. 29 of 1984, s. 3 and Sched. 1 ][Section 17 Subsection (1) amended by No. 76 of 1995, s. 28 and Sched. 1 ][Section 17 Subsection (2) amended by No. 29 of 1984, s. 3 and Sched. 1 ][Section 17 Repealed by No. 86 of 2000, Sched. 1, Applied:01 May 2001] . . . . . . . . [Section 18 Amended by No. 76 of 1995, s. 28 and Sched. 1 ][Section 18 Repealed by No. 86 of 2000, Sched. 1, Applied:01 May 2001] . . . . . . . .
19. Delegation of functions, &c., by TDR
(1) [Section 19 Subsection (1) amended by No. 76 of 1995, s. 14 and s. 28 and Sched. 1 ]TDR may, with the approval of the Minister, and by instrument in writing, delegate to a director or an officer or committee of TDR the performance or exercise of such of its functions and powers (other than this power of delegation) under this or any other Act as are specified in the instrument, and may, by a further instrument in writing, revoke wholly or in part any such delegation.(2) A function or power, the performance or exercise of which has been delegated under this section, may, while the delegation remains unrevoked, be performed or exercised from time to time in accordance with the terms of the delegation.(3) A delegation under this section may be made subject to such conditions or limitations as to the performance or exercise of any of the functions or powers delegated, or as to time or circumstance, as are specified in the instrument of delegation.(4) [Section 19 Subsection (4) amended by No. 76 of 1995, s. 28 and Sched. 1 ]Notwithstanding any delegation under this section, TDR may continue to perform or exercise all or any of the functions or powers delegated.(5) [Section 19 Subsection (5) amended by No. 76 of 1995, s. 14 and s. 28 and Sched. 1 ]Any act or thing done by or to a director or an officer or committee of TDR while acting in the exercise of a delegation under this section shall have the same force and effect as if the act or thing had been done by, or to, TDR and shall be deemed to have been done by, or to, TDR.(6) [Section 19 Subsection (6) substituted by No. 76 of 1995, s. 14 ]An instrument purporting to be executed by the delegate as such is to be received in evidence in all courts and before all persons acting judicially as if it were an instrument executed by TDR and, until the contrary is proved, is taken to be an instrument executed by the delegate under this section.(7) [Section 19 Subsection (7) amended by No. 76 of 1995, s. 28 and Sched. 1 ]Where the performance of a function or the exercise of a power by TDR is dependant on the opinion or belief of TDR, a delegate of TDR under this section may, in performing that function or exercising that power, act on his own opinion or belief.
(1) [Section 20 Subsection (1) amended by No. 76 of 1995, s. 15 and 28 and Sched. 1 ]TDR shall keep a register showing particulars of any delegation made under section 19 (1) .(2) [Section 20 Subsection (2) amended by No. 76 of 1995, s. 28 and Sched. 1 ]A register kept by TDR pursuant to subsection (1) shall be open for inspection by any member of the public without charge.
Division 4 - [Part II, Div. 4 Heading amended by No. 63 of 1996, s. 8 ]Finances of TDR
21. Accounts, funds, &c., of TDR
(1) [Section 21 Subsection (1) amended by No. 76 of 1995, s. 28 and Sched. 1 ][Section 21 Subsection (1) substituted by No. 4 of 2017, Sched. 1, Applied:29 Jun 2016] The Treasurer is to establish in the Public Account such accounts as may from time to time be required by TDR.(2) [Section 21 Subsection (2) amended by No. 74 of 1999, Sched. 2, Applied:01 Jan 2000] [Section 21 Subsection (2) substituted by No. 76 of 1995, s. 16 ][Section 21 Subsection (2) amended by No. 62 of 1996, s. 3 and Sched. 1 ]TDR may open and operate authorised deposit-taking institution accounts as it considers necessary.(3) [Section 21 Subsection (3) amended by No. 4 of 2017, Sched. 1, Applied:29 Jun 2016] [Section 21 Subsection (3) amended by No. 74 of 1999, Sched. 2, Applied:01 Jan 2000] [Section 21 Subsection (3) amended by No. 76 of 1995, s. 28 and Sched. 1 ][Section 21 Subsection (3) amended by No. 62 of 1996, s. 3 and Sched. 1 ]The funds of TDR shall be paid to the credit of the accounts referred to in this section and shall consist of–(a) any money appropriated by Parliament for the purposes of TDR;(b) all money borrowed by TDR under this Act;(c) any money that immediately before the commencement day was in such trust accounts established in the Treasury as the Minister, with the consent of the Treasurer, may approve for the purposes of this paragraph;(d) any money appropriated by Parliament for a purpose arising from, or incidental to, a repealed Act or an Act that, after the commencement day, is administered by TDR, if that money was not applied for that purpose before that day; and(e) all other money received from any source by TDR.
22. Capital expenditure of TDR
(1) [Section 22 Subsection (1) amended by No. 36 of 1988, s. 7 and Sched. 1 ][Section 22 Subsection (1) amended by No. 76 of 1995, s. 28 and Sched. 1 ]TDR shall meet any capital expenditure from –(a) [Section 22 Subsection (1) amended by No. 4 of 2017, Sched. 1, Applied:29 Jun 2016] money appropriated by Parliament from the Public Account for the purpose;(b) money borrowed by TDR under section 24 ; or(c) money received by TDR pursuant to an order under section 10 .(2) [Section 22 Subsection (2) amended by No. 76 of 1995, s. 28 and Sched. 1 ]For the purposes of subsection (1) , a loan of money made by TDR under section 9 (2) (b) shall be treated as capital expenditure.(3) [Section 22 Subsection (3) amended by No. 4 of 2017, Sched. 1, Applied:29 Jun 2016] [Section 22 Subsection (3) substituted by No. 36 of 1988, s. 5 ][Section 22 Subsection (3) amended by No. 76 of 1995, s. 28 and Sched. 1 ]Where TDR receives an amount by way of repayment of a loan made from money appropriated by Parliament for the purpose, TDR shall repay that amount to the Public Account in accordance with any directions given by the Treasurer.
23. Recurrent expenditure of TDR and payment of certain income to Public Account
(1) [Section 23 Subsection (1) amended by No. 4 of 2017, Sched. 1, Applied:29 Jun 2016] [Section 23 Subsection (1) amended by No. 36 of 1988, s. 7 and Sched. 1 ][Section 23 Subsection (1) amended by No. 76 of 1995, s. 28 and Sched. 1 ]TDR shall pay, from money appropriated by Parliament from the Public Account for the purpose–(a) the administration and operating expenses of TDR;(b) any grant of money made under section 9 (2) (c) ;(c) on and after 1st July 1984, any interest required to be paid in respect of a loan to TDR under section 24 or 26 ;(d) any grant of money made, or subsidy paid, under any other Act; and(e) any other cost of a recurrent nature incurred by TDR.(2) [Section 23 Subsection (2) amended by No. 4 of 2017, Sched. 1, Applied:29 Jun 2016] [Section 23 Subsection (2) amended by No. 36 of 1998, s. 7 and Sched. 1 ][Section 23 Subsection (2) amended by No. 76 of 1995, s. 28 and Sched. 1 ]Where TDR derives any income from any money appropriated for its use by Parliament or borrowed under section 24 , TDR shall, unless the Treasurer otherwise directs, pay the amount of that income to the Public Account.(3) [Section 23 Subsection (3) inserted by No. 76 of 1995, s. 17 ] Subsection (2) does not apply to income from money advanced for the purposes of the Rural Adjustment Act 1995 .
[Section 25 Subsection (1) amended by No. 76 of 1995, s. 28 and Sched. 1 ][Section 25 Subsection (5) amended by No. 4 of 2017, Sched. 1, Applied:29 Jun 2016] [Section 25 Subsection (5) amended by No. 36 of 1988, s. 7 and Sched. 1 ][Section 25 Repealed by No. 22 of 2023, s. 41, Applied:01 Jul 2023] . . . . . . . .(1) [Section 24 Subsection (1) substituted by No. 55 of 1985, s. 5 ][Section 24 Subsection (1) amended by No. 36 of 1988, s. 6 ][Section 24 Subsection (1) amended by No. 76 of 1995, s. 18 and s. 28 and Sched. 1 ]TDR may, with the consent of the Treasurer but subject to this section, borrow money for the purposes of this Act, the Farm Water Development Act 1985 , the King and Flinders Islands (Power) Financial Assistance 1984 , the Closer Settlement Act 1957 or the Rural Adjustment Act 1995 .(1A) [Section 24 Subsection (1A) amended by No. 74 of 1999, Sched. 2, Applied:01 Jan 2000] [Section 24 Subsection (1A) inserted by No. 55 of 1985, s. 5 ][Section 24 Subsection (1A) substituted by No. 76 of 1995, s. 18 ][Section 24 Subsection (1A) amended by No. 62 of 1996, s. 3 and Sched. 1 ]Money borrowed under subsection (1) is to be borrowed on authorised deposit-taking institution overdraft or in such other manner as the Treasurer may approve.(2) [Section 24 Subsection (2) amended by No. 76 of 1995, s. 28 and Sched. 1 ]Without limiting its powers under subsection (1) , TDR may, for the purposes of this Act, borrow money with the consent of the Treasurer from the Primary Industry Bank subject to such terms or conditions as may be agreed in writing between TDR and that Bank, including terms or conditions requiring TDR to make to that Bank loans or deposits of such amounts as may be determined by reference to the agreement.(3) [Section 24 Subsection (2) amended by No. 55 of 1985, s. 5 ][Section 24 Subsection (3) omitted by No. 76 of 1995, s. 18 ]. . . . . . . .
[Section 26 Amended by No. 76 of 1995, s. 19 and s. 28 and Sched. 1 ][Section 26 Amended by No. 4 of 2017, Sched. 1, Applied:29 Jun 2016] Where the performance of any of its functions or the exercise of any of its powers under this or any other Act involves capital expenditure, the Treasurer may make a loan of money from the Public Account to TDR for the purpose of performing that function or exercising that power and any such loan by the Treasurer shall be on such terms as to repayment, payment of interest, and otherwise, as the Treasurer may determine.
27. Temporary investment of TDR's funds
[Section 27 Amended by No. 76 of 1995, s. 28 and Sched. 1 ]TDR may invest any money that it is holding and for which it has no immediate use in any of the ways authorized by the Trustee Act 1898 for the investment of trust funds.[Section 28 Repealed by No. 76 of 1995, s. 20 ]. . . . . . . .
29. Capital contribution by Treasurer
[Section 29 Repealed by No. 40 of 1991, s. 3 ][Section 29 Inserted by No. 76 of 1995, s. 20 ](1) The Treasurer may pay an amount to TDR as a contribution to its reserves out of money provided by Parliament for the purpose.(2) An amount paid under subsection (1) is not a borrowing and is not subject to the payment of interest.
Division 4A - Accounting records, financial statements and reports[Part II, Div. 4A Inserted by No. 76 of 1995, s. 20 ]
[Section 29A Inserted by No. 76 of 1995, s. 20 ](1) The Board must –(a) keep such accounting records as correctly record and explain its transactions (including any transactions as trustee) and financial position; and(b) keep those records in a manner that –(i) allows true and fair accounts of TDR to be prepared from time to time; and(ii) allows its accounts to be conveniently and properly audited or reviewed; and(iii) subject to any contrary written direction given by the Minister to the Board, complies with Australian Accounting Standards; and(iv) complies with any written directions given by the Minister to the Board.(2) The Minister may, after consultation with the Treasurer, give written directions to the Board for the purposes of keeping records under subsection (1) .
[Section 29B Inserted by No. 76 of 1995, s. 20 ][Section 29C Inserted by No. 76 of 1995, s. 20 ][Section 29C Repealed by No. 42 of 2003, Sched. 1, Applied:04 Jul 2003] . . . . . . . . [Section 29D Inserted by No. 76 of 1995, s. 20 ][Section 29D Amended by No. 50 of 2008, Sched. 1, Applied:26 Jun 2008] . . . . . . . .(1) [Section 29B Subsection (1) amended by No. 42 of 2003, Sched. 1, Applied:04 Jul 2003] [Section 29B Subsection (1) substituted by No. 50 of 2008, Sched. 2, Applied:01 Mar 2009] The Board is to prepare and forward to the Auditor-General a copy of its financial statements for each financial year in accordance with the Audit Act 2008 .(2) [Section 29B Subsection (2) substituted by No. 50 of 2008, Sched. 2, Applied:01 Mar 2009] Financial statements in respect of a financial year are to include any other financial information required to be included by a direction given under subsection (4) .(3) The financial statements must –(a) comply with any directions given under subsection (4) ; and(b) subject to such a direction, comply with Australian Accounting Standards; and(c) be signed or certified as specified in such a direction.(4) The Minister may, after consultation with the Treasurer, give written directions to the Board with respect to the form and contents of the financial statements as he or she considers appropriate.
[Section 29E Inserted by No. 76 of 1995, s. 20 ](1) The Board must prepare for TDR an annual report for each financial year.(2) The annual report is to include the following information and documents:(a) the statement of corporate intent which relates to the corporate plan that takes effect at the beginning of the next financial year;(b) the financial statements of TDR for the financial year to which the annual report relates;(c) [Section 29E Subsection (2) amended by No. 50 of 2008, Sched. 2, Applied:01 Mar 2009] a copy of the opinion of the Auditor-General in respect of the financial statements received under section 19 of the Audit Act 2008 ;(d) a report on the performance of TDR during the financial year to which the annual report relates compared with the performance indicators specified in the corporate plan;(e) a report on the operations of TDR during the financial year to which the annual report relates;(f) [Section 29E Subsection (2) amended by No. 42 of 2003, Sched. 1, Applied:04 Jul 2003] . . . . . . . .(g) the details of any direction given under section 15B ;(h) any information relating to the directors, chief executive and employees required by the Minister by written notice provided to the Board to be included;(i) any other information that the Minister by written notice provided to the Board requires to be included;(j) any other information that the Board considers is appropriate or necessary to properly inform the Minister and Parliament as to the performance and progress of TDR during the financial year to which the annual report relates;(k) a summary, by reference to categories, of all loans and grants of money made by TDR, and all guarantees given by the Treasurer on the recommendation of TDR, in respect of the financial year to which the annual report relates;(l) particulars of each grant or loan of money made by TDR as the agent of the Minister for the purposes of compliance by the Minister with section 37 (3) (a) ;(m) a copy of any statement of policy objectives given to TDR under section 11 (1) that was in force for the whole or part of the financial year to which the annual report relates.(3) For the purposes of subsection (2) (a) ,next financial year means the financial year immediately following the financial year in respect of which the annual report is prepared.(4) The Board must provide the annual report to the Minister and the Auditor-General.(5) [Section 29E Subsection (5) amended by No. 86 of 2000, Sched. 1, Applied:01 May 2001] Section 36 of the State Service Act 2000 does not apply in respect of TDR.
[Section 29F Inserted by No. 76 of 1995, s. 20 ](1) [Section 29F Subsection (1) amended by No. 42 of 2003, Sched. 1, Applied:04 Jul 2003] The Minister must cause a copy of the annual report to be laid before each House of Parliament within 4 months after the end of the financial year to which the annual report relates.(2) Where the Minister is unable to comply with subsection (1) for any reason other than that a House of Parliament is not sitting at the expiration of the period specified in that subsection, he or she must, before the expiration of that period, cause to be laid before each House of Parliament a statement specifying the reasons for the failure to comply with that subsection and an estimate of the day by which a copy of the annual report will be ready to be laid before each House of Parliament.(3) Where the Minister is unable to cause a copy of the annual report to be laid before a House of Parliament within the period specified in subsection (1) or by the day specified in a statement referred to in subsection (2) because either House of Parliament is not sitting at the expiration of that period or on that day, the Minister must –(a) immediately after the expiration of that period or that day, forward a copy of the annual report to the Clerk of that House of Parliament; and(b) within the next 7 sitting days of that House, cause the annual report to be laid before that House.
[Section 29G Inserted by No. 76 of 1995, s. 20 ](1) The Board must prepare a report on the operations of TDR for each of the first 3 quarters of a financial year.(2) A quarterly report is to be provided to the Minister and the Treasurer –(a) within 30 days after the end of the quarter; or(b) if another period after the end of the quarter is agreed between the Board and the Minister, within the agreed period.(3) A quarterly report must include the information required to be given in the report by the Minister by written notice provided to the Board.
29H. Minister may require information
[Section 29H Inserted by No. 76 of 1995, s. 20 ](1) The Minister, at his or her discretion or on the request of the Treasurer, may require the Board to provide to the Minister specified in the requirement, information relating to the affairs, or the performance and exercise of the functions and powers, of TDR.(2) The Board must comply with a requirement made under subsection (1) .
29I. Directions, &c., given by Minister
[Section 29I Inserted by No. 76 of 1995, s. 20 ][Section 30 Repealed by No. 40 of 1991, s. 3 ]. . . . . . . .(1) A direction given by the Minister under this Division may adopt either wholly or partly and with or without modification, and either specifically or by reference, any Treasurer's Instructions, within the meaning of the Government Business Enterprises Act 1995 , whenever issued.(2) The Board must comply with a direction given to it by the Minister under this Division.
Division 5 - [Part II, Div. 5 Heading amended by No. 76 of 1995, s. 28 and Sched. 1 ]Advisory committees of TDR
31. Power of TDR to establish advisory committees
[Section 31 Subsection (3) amended by No. 76 of 1995, s. 28 and Sched. 1 ](1) [Section 31 Subsection (1) amended by No. 76 of 1995, s. 28 and Sched. 1 ]TDR may establish advisory committees under such names as it may specify, for the purpose of advising or assisting it with respect to any matter relating to the performance of its functions or the exercise of its powers under this or any other Act.(2) [Section 31 Subsection (2) amended by No. 76 of 1995, s. 28 and Sched. 1 ]An advisory committee established under subsection (1) shall comprise such number of persons, holding such qualifications (if any), as TDR may determine.(3) [Section 31 Subsection (3) amended by No. 86 of 2000, Sched. 1, Applied:01 May 2001] [Section 31 Subsection (3) amended by No. 29 of 1984, s. 3 and Sched. 1 ]Each member of an advisory committee, other than a State Service officer or State Service employee, is entitled to receive such remuneration and allowances as may be determined by TDR.(4) The holding of office as a member of an advisory committee shall be deemed not to be the holding of an office of profit or emolument within the meaning of section 32 of the Constitution Act 1934 .(5) [Section 31 Subsection (5) amended by No. 76 of 1995, s. 28 and Sched. 1 ]Meetings of an advisory committee shall be held in accordance with such directions as may be given by TDR.(6) An advisory committee may obtain assistance, information, and advice from any person.(7) Except as provided by this section, an advisory committee may regulate its own procedure.
Division 6 - Appointment and powers of administrator
32. Appointment and powers of administrator
(1) [Section 32 Subsection (1) amended by No. 76 of 1995, s. 28 and Sched. 1 ]The Governor may, by order, appoint an administrator to administer the affairs and activities of TDR if the Minister certifies in writing that –(a) TDR has failed to perform a duty arising from a statement of policy objectives given to it under section 11 (1) ; or(b) it is in the public interest for an administrator to be appointed to wind up the affairs and activities of TDR.(2) [Section 32 Subsection (2) substituted by No. 29 of 1984, s. 3 and Sched. 1 ][Section 32 Subsection (2) amended by No. 76 of 1995, s. 28 and Sched. 1 ][Section 32 Subsection (2) substituted by No. 86 of 2000, Sched. 1, Applied:01 May 2001] A State Service officer or State Service employee may, subject to the State Service Act 2000 , hold office as administrator of TDR in conjunction with State Service employment.(3) [Section 32 Subsection (3) amended by No. 76 of 1995, s. 28 and Sched. 1 ]On the appointment of an administrator under subsection (1) , the Minister shall serve on TDR a copy of the instrument of the appointment and on the service of the copy of that instrument –(a) the functions of TDR shall be performed, and the powers of TDR may be exercised, by the administrator in the name and on behalf of TDR until his office is vacated under this section;(b) the directors shall cease to hold office;(c) the administrator shall assume, and be responsible for, the management of TDR; and(d) any delegation made by TDR under section 19 (1) shall cease to have effect.(4) [Section 32 Subsection (4) amended by No. 76 of 1995, s. 28 and Sched. 1 ]Subject to this section, an administrator appointed under this section –(a) shall, as soon as practicable after his appointment as such, take into his custody or under his control all the property and things in action to which TDR is, or appears to be, entitled; and(b) shall, subject to and in accordance with any direction given to him by the Minister, perform the functions and exercise the powers of TDR in such manner as the administrator thinks fit.(5) [Section 32 Subsection (5) amended by No. 76 of 1995, s. 28 and Sched. 1 ]An administrator of TDR shall be deemed to have vacated his office –(a) when he dies;(b) if he becomes bankrupt, applies to take the benefit of any law for the relief of bankrupt or insolvent debtors, compounds with his creditors, or makes an assignment of his remuneration or estate for their benefit;(c) if he is convicted in Tasmania of a crime or an offence which is punishable by imprisonment for a period of not less than 12 months, or if he is convicted elsewhere than in Tasmania of an offence which, if committed in Tasmania, would be a crime or an offence so punishable;(d) if he resigns his office by writing under his hand addressed to the Governor; or(e) if his appointment is revoked by the Governor under subsection (6) .(6) The Governor may revoke the appointment of an administrator appointed under this section.(7) Where the office of administrator is deemed to have been vacated under subsection (5) , the Governor may, by instrument in writing, appoint another person to fill the vacancy.(8) An administrator appointed under this section shall be paid such remuneration, allowances, and expenses (if any) as the Governor may determine.(9) [Section 32 Subsection (9) amended by No. 1 of 2016, Sched. 1, Applied:30 Jan 2012] [Section 32 Subsection (9) amended by No. 86 of 2000, Sched. 1, Applied:01 May 2001] [Section 32 Subsection (9) amended by No. 29 of 1984, s. 3 and Sched. 1 ]Notwithstanding subsection (8) , where a State Service officer or State Service employee is appointed as administrator under this section, he is entitled to receive, by way of remuneration, allowances, and expenses, such amounts (if any) as the Governor, on the recommendation of the Minister administering the State Service Act 2000 , may determine.
33. Expenses of administration
(1) [Section 33 Subsection (1) amended by No. 76 of 1995, s. 28 and Sched. 1 ]The expenses of and incidental to the administration of the affairs and activities of TDR by an administrator appointed under section 32 are payable by TDR.(2) [Section 33 Subsection (2) amended by No. 86 of 2000, Sched. 1, Applied:01 May 2001] [Section 33 Subsection (2) substituted by No. 46 of 1991, s. 5 and Sched. 3 ][Section 33 Subsection (2) amended by No. 76 of 1995, s. 28 and Sched. 1 ]The remuneration, allowances and expenses of an administrator of TDR who is not a State Service officer or State Service employee is an expense referred to in subsection (1) .(3) [Section 33 Subsection (3) amended by No. 1 of 2016, Sched. 1, Applied:30 Jan 2012] [Section 33 Subsection (3) amended by No. 86 of 2000, Sched. 1, Applied:01 May 2001] [Section 33 Subsection (3) substituted by No. 29 of 1984, s. 3 and Sched. 1 ][Section 33 Subsection (3) amended by No. 76 of 1995, s. 3 and Sched. 1 ]Where an administrator of TDR is a State Service officer or State Service employee, the reimbursement to the Crown of an amount certified by the Minister administering the State Service Act 2000 in respect of the remuneration, allowances, and expenses of that officer or employee is an expense referred to in subsection (1) .
34. Liability for losses incurred during administration
[Section 34 Amended by No. 76 of 1995, s. 28 and Sched. 1 ]An administrator of TDR is not liable for any loss incurred by TDR during his term of office unless the loss was attributable to –(a) his wilful misconduct;(b) his gross negligence; or(c) his wilful failure to comply with any provision of this Act.
PART III - State Assistance to Business Undertakings
(1) [Section 35 Subsection (1) amended by No. 76 of 1995, s. 28 and Sched. 1 ]Where, on an application for a loan under section 9 (2) (b) , TDR is of opinion that the grant of the loan would not be in accordance with the powers conferred by that section but that the grant of a loan would assist in the development, expansion, or retention of a business undertaking, TDR may recommend to the Minister that he grant a loan of money under this section.(2) [Section 35 Subsection (2) amended by No. 76 of 1995, s. 28 and Sched. 1 ]On making a recommendation under subsection (1) TDR shall refer the application for the loan to the Minister and shall provide the Minister with such additional information as it thinks fit.(3) [Section 35 Subsection (3) amended by No. 76 of 1995, s. 28 and Sched. 1 ]Where TDR makes a recommendation under subsection (1) that a loan of money be granted to a person, the Minister may, with the approval of the Treasurer and for the purposes of this Act, make a loan of money to that person, with or without security and on such terms and conditions as the Minister thinks fit.(4) [Section 35 Subsection (4) amended by No. 76 of 1995, s. 28 and Sched. 1 ]For the purposes of this section –(a) TDR shall provide the Minister with such information as he may request; and(b) the Minister may direct TDR to carry out such investigations, and to make recommendations to him on such questions, as he may determine.(5) [Section 35 Subsection (5) amended by No. 76 of 1995, s. 28 and Sched. 1 ]TDR shall comply with a direction given to it by the Minister under subsection (4) (b) .
36. Power of Treasurer to give guarantees
(1) Where the Treasurer is of the opinion that it will assist the development, expansion, or retention of a business undertaking to do so, the Treasurer may, on behalf of the State but subject to this section, guarantee –(a) the repayment of money lent, or agreed to be lent, to a person; and(b) the performance by a person of any obligation arising from, or in any way incidental to, assistance provided or to be provided, whether under this Act or not, for the purpose of a business undertaking.(2) The power of the Treasurer under subsection (1) to guarantee the repayment of money lent or agreed to be lent includes a power to guarantee the payment to the lender of interest and other charges payable by the borrower in respect of that money.(3) [Section 36 Subsection (3) amended by No. 76 of 1995, s. 28 and Sched. 1 ]A guarantee under subsection (1) shall, subject to subsection (4) , be given only –(a) on the recommendation of TDR and with the approval of the Minister;(b) on such terms and conditions as the Treasurer may determine; and(c) by instrument in writing.(4) [Section 36 Subsection (4) amended by No. 76 of 1995, s. 28 and Sched. 1 ]If the Treasurer is satisfied that urgent assistance is required for the retention of a business undertaking in Tasmania, the Treasurer may give a guarantee under subsection (1) without the recommendation of TDR or the approval of the Minister.(5) A guarantee under this section operates so as to guarantee –only to the extent that the aggregate of those amounts and any such liability does not exceed $2 000 000.(a) the repayment of money lent, or agreed to be lent, to the borrower;(b) the payment of interest and other charges in respect of that money; and(c) any liability arising from a failure to perform an obligation mentioned in subsection (1) (b) –(6) Before a guarantee is given under this section, the borrower shall, if the Treasurer so requires, give to the Treasurer such security as he may specify and shall execute such instruments as may be necessary for the purpose.(7) [Section 36 Subsection (7) amended by No. 76 of 1995, s. 28 and Sched. 1 ]A guarantee under this section –(a) may, subject to subsection (8) , be given to a person notwithstanding that another such guarantee to that person has been given or is in force; and(b) on the recommendation of TDR and with the consent of the person whose loan to the borrower is guaranteed, may be varied or revoked by the Treasurer.(8) If 2 or more guarantees to a person are in force under this section, the second or any subsequent guarantee operates so as to guarantee –only so long as the aggregate amount of the liability incurred by the Treasurer under this section in respect of all those guarantees does not exceed $2 000 000.(a) the repayment of money lent, or agreed to be lent, to that person;(b) the payment of interest and other charges in respect of that money; and(c) any liability arising from a failure to perform an obligation mentioned in subsection (1) (b) –(9) [Section 36 Subsection (9) amended by No. 4 of 2017, Sched. 1, Applied:29 Jun 2016] [Section 36 Subsection (9) amended by No. 36 of 1988, s. 7 and Sched. 1 ]The amount of any liability incurred under a guarantee given under this section shall be a charge on the Public Account and shall be payable out of the Public Account without further appropriation than this section.
37. Powers of Governor as to loans, grants, and guarantees
(1) [Section 37 Subsection (1) amended by No. 39 of 1986, s. 5 ]Where the Governor is satisfied, on the recommendation of the Treasurer and the Minister, that the development, expansion, or retention of a business undertaking by any person or the proposed activities of a public authority will be of special significance to the economic development of the State, the Governor may direct that a loan or grant of money or a guarantee shall be given to that person or public authority under this Part.(2) [Section 37 Subsection (2) omitted by No. 39 of 1986, s. 5 ]. . . . . . . .(3) [Section 37 Subsection (3) amended by No. 39 of 1986, s. 5 ]On a direction by the Governor under subsection (1) –(a) the Minister shall make a grant or loan of money on such terms and conditions as the Governor may direct; or(b) the Treasurer shall, by instrument in writing, give a guarantee on such terms and conditions as the Governor may direct.(4) The provisions of section 36 (2) , (6) , and (9) apply to, and in relation to, a guarantee given by the Treasurer under subsection (3) (b) and any such guarantee –(a) may be given to a person notwithstanding that another guarantee under this Part to that person has been given or is in force; and(b) with the consent of the person whose loan to the borrower is guaranteed, may be varied or revoked by the Treasurer.(5) [Section 37 Subsection (5) substituted by No. 55 of 1985, s. 5 ][Section 37 Subsection (5) amended by No. 76 of 1995, s. 28 and Sched. 1 ][Section 37 Subsection (5) omitted by No. 13 of 2024, s. 5, Applied:05 Sep 2024] . . . . . . . .
37A. Funding of grants and loans under this Part
[Section 37A Inserted by No. 13 of 2024, s. 6, Applied:05 Sep 2024](1) A grant or loan of money under this Part may be paid from –(a) money appropriated by Parliament for the purpose; or(b) the funds of TDR, as determined by the Treasurer.(2) For the avoidance of doubt, the funding of a grant or loan under this Part is a purpose for which TDR may borrow money under section 24 .(3) A grant or loan that was granted or made, under this Part, before the commencement of the Tasmanian Development Amendment Act 2024 is not invalid solely on the basis that it was paid from –(a) the funds of TDR; or(b) money appropriated by Parliament for the purpose.
PART IV - Miscellaneous and Supplemental
38. Power of Minister to convene and attend meetings
(1) [Section 38 Subsection (1) amended by No. 76 of 1995, s. 28 and Sched. 1 ]The Minister may cause to be convened a special meeting of the Board, and may –(a) attend special and ordinary meetings of, and confer with, the Board; and(b) at any meeting at which he is present obtain any information which he may require upon any matter relating to the activities and affairs of TDR or any advisory committee established under section 31 .(2) The Minister may report to the Governor, or to Parliament, any information arising from any meeting of the Board or obtained by him under subsection (1) .
[Section 38A Inserted by No. 13 of 2024, s. 7, Applied:05 Sep 2024] The Minister may delegate, in writing, any of the administrative or managerial functions, or powers, of the Minister under this Act, other than this power of delegation.
39. Duty of TDR to report to Minister on operation of certain laws, &c.
[Section 39 Amended by No. 76 of 1995, s. 28 and Sched. 1 ]In the administration of this Act it is the duty of TDR to advise and report to the Minister as it may think fit on the operation and administration of the law to persons, or any class of persons, engaged in any business undertaking in Tasmania and to make such recommendations as to the amendment of the law or changes in administrative procedures as it thinks necessary or desirable.
40. Indemnity for directors and officers
[Section 40 Amended by No. 76 of 1995, s. 28 and Sched. 1 ]Except as provided in this Part, a director or officer of TDR shall not incur any personal liability in respect of any act, matter, or thing done, or omitted to be done, in good faith in the execution or purported execution of the provisions of this Act.[Section 41 Repealed by No. 76 of 1995, s. 21 ]. . . . . . . .
42. Disclosure of interests in contracts, grants, &c.
(1) [Section 42 Subsection (1) amended by No. 76 of 1995, s. 28 and Sched. 1 ]Subject to this section, a director who is in any way whether directly or indirectly, interested in a contract, grant, or recommendation made, or proposed to be made, by TDR under this or any other Act shall, as soon as practicable after the relevant facts have come to his knowledge, declare the nature of his interest at a meeting of the Board.(2) [Section 42 Subsection (2) amended by No. 76 of 1995, s. 22 and s. 28 and Sched. 1 ]Subject to this section, an authorized officer who is in any way, whether directly or indirectly, interested in a contract, grant, or recommendation made, or proposed to be made, by TDR under this or any other Act shall, as soon as practicable after –as the case may require, provide the Board of TDR with a statement in writing giving full particulars of that interest and shall not perform any duties, or continue to perform any duties, in respect of the contract, grant, or guarantee.(a) his appointment as an authorized officer; or(b) the relevant facts have come to his knowledge –(3) [Section 42 Subsection (3) amended by No. 76 of 1995, s. 28 and Sched. 1 ]Subject to this section, an administrator who is in any way, whether directly or indirectly, interested in a contract, grant, or recommendation made by TDR under this or any other Act or any such contract, grant, or recommendation proposed to be made by the administrator shall, as soon as practicable after –as the case may require, provide the Minister with a statement in writing giving full particulars of that interest.(a) his appointment as administrator; or(b) the relevant facts have come to his knowledge –(4) The requirements of this section do not apply in any case where the interest of a director, administrator, or authorized officer consists only of being a member or creditor of a company that is interested in a contract, grant, or recommendation referred to in this section if the interest of the director, administrator, or authorized officer may properly be regarded as not being a material interest.(5) A disclosure by a director under subsection (1) shall be recorded in the minutes of the Board.(6) A director who discloses an interest under this section shall not be present during any deliberation of the Board with respect to that matter.(7) [Section 42 Subsection (7) amended by No. 36 of 1988, s. 7 and Sched. 1 ]A director, authorized officer, or administrator who contravenes, or fails to comply with, subsection (1) , (2) , or (3) is guilty of an offence and is liable on summary conviction to a penalty not exceeding 10 penalty units or imprisonment for a period not exceeding 3 months, or both.
[Section 43 Amended by No. 76 of 1995, s. 28 and Sched. 1 ][Section 43 Substituted by No. 45 of 2003, Sched. 1, Applied:04 Jul 2003](1) TDR shall not, whether directly or indirectly, make a loan to –(a) a director or the spouse or partner of a director; or(b) a company, where a director or the spouse or partner of a director has, or both of them have, a direct or indirect beneficial interest in shares in the company, the nominal value of which is not less than 10 per cent of the nominal value of the issued share capital of the company.(2) In this section,partner means the person with whom a director is in a personal relationship, within the meaning of the Relationships Act 2003 .
44. Register of directors' shareholdings, &c.
(1) [Section 44 Subsection (1) amended by No. 76 of 1995, s. 28 and Sched. 1 ]TDR shall keep a register showing, with respect to each director and authorized officer, particulars of –and the nature and extent of any such interest.(a) shares in any company in which the director or authorized officer has any interest; and(b) any other interest in a company that is held by the director or authorized officer –(2) [Section 44 Subsection (2) amended by No. 76 of 1995, s. 28 and Sched. 1 ]A register kept by TDR pursuant to subsection (1) shall be open for inspection by any member of the public without charge.
(1) [Section 45 Subsection (1) amended by No. 76 of 1995, s. 28 and Sched. 1 ]A director, administrator, or officer of TDR who, in the course of the administration of this Act, obtains any information as to a process, technique, practice, plan, invention, specification, prototype, or design shall maintain and aid in maintaining the secrecy of that information except for the purposes of the administration of this Act.(2) [Section 45 Subsection (2) amended by No. 36 of 1988, s. 7 and Sched. 1 ][Section 45 Subsection (2) amended by No. 76 of 1995, s. 28 and Sched. 1 ]A director, administrator, or officer of TDR who contravenes subsection (1) is guilty of an offence and is liable on summary conviction to a penalty not exceeding 10 penalty units or imprisonment for a period not exceeding 3 months, or both.
46. Time for bringing proceedings
Notwithstanding section 26 of the Justices Act 1959 , proceedings for an offence against this Act may commence at any time within a period of 2 years after the time when the offence is alleged to have been committed.
47. Exemptions in respect of certain executed documents
(1) In subsection (2) ,prescribed industry means an industry declared pursuant to subsection (3) to be an industry to which this section applies.(2) [Section 47 Subsection (2) amended by No. 15 of 2001, Sched. 2, Applied:01 Jul 2001] Notwithstanding the Stamp Duties Act 1931 , the Land Titles Act 1980 , and the Registration of Deeds Act 1935 , a document executed to secure a loan made under this Act for the purpose of a prescribed industry or to release any such loan is not liable to any, filing fees, or registration fees.(3) The Minister may, with the approval of the Treasurer and by order published in the Gazette, declare that an industry specified in the order shall be an industry to which this section applies.
(1) The Governor may make regulations for the purposes of this Act.(2) [Section 48 Subsection (2) amended by No. 55 of 1985, s. 8 ][Section 48 Subsection (2) amended by No. 76 of 1995, s. 23 and s. 28 and Sched. 1 ]Without limiting the generality of subsection (1) , the regulations may make provision for, or with respect to –(a) the duties of the directors, an administrator, and the officers of TDR;(b) the issue of debentures and inscribed stock under section 24 (1) and the rights and duties of the holders of any such debentures or inscribed stock; and(c) subject to Schedule 4 , matters of a transitional or savings nature consequent on the enactment of this Act or any amending Act, including the procedure to be followed by TDR in registering a mortgage under clause 8 of Part II of Schedule 4 .(3) [Section 48 Subsection (3) amended by No. 36 of 1988, s. 7 and Sched. 1 ][Section 48 Subsection (3) amended by No. 76 of 1995, s. 28 and Sched. 1 ]The regulations referred to in subsection (2) (a) may provide –(a) that it is an offence, punishable on summary conviction, for a person to contravene, or fail to comply with, any of the regulations and may provide in respect of any such offence for the imposition of a penalty not exceeding 100 penalty units or imprisonment for a period not exceeding 2 years, or both; and(b) for the recovery by TDR of –as a result of a contravention or failure to comply with the regulations.(i) any profit gained by any person; or(ii) compensation in case of any loss or damage suffered by TDR –(4) [Section 48 Subsection (4) amended by No. 36 of 1958, s. 7 and Sched. 1 ]The regulations, other than those referred to in subsection (2) (a) , may provide that it is an offence, punishable on summary conviction, for a person to contravene, or fail to comply with, any of the regulations and may provide in respect of any such offence for the imposition of a penalty not exceeding 10 penalty units or imprisonment for a period not exceeding 3 months, or both.(5) [Section 48 Subsection (5) amended by No. 55 of 1985, s. 8 ]Regulations under this section –(a) may be made subject to such conditions, or be made so as to apply differently according to such factors, as may be specified in the regulations, or according to such limitations or restrictions, whether as to time or circumstance or otherwise, as may be so specified;(b) may take effect on the commencement day or on a later day; and(c) [Section 48 Subsection (5) amended by No. 2 of 2011, Sched. 1, Applied:01 Jul 2010] if they are made under subsection (2) (c) , may have effect notwithstanding the Personal Property Securities Act 2009 of the Commonwealth, and the provisions of the State Advances Act 1935 continued in force by virtue of clause 3 of Part II of Schedule 4 .
49. Dissolution of Agricultural Bank and certain boards, repeals, &c.
(1AA) [Section 49 Subsection (1AA) inserted by No. 76 of 1995, s. 24 ]In this section,transitional functions means any function, power or right of TDR arising from the transitional and savings provisions specified in Schedule 4 .(1) On the commencement day –(a) the Agricultural Bank of Tasmania and the Board of Management of the Agricultural Bank of Tasmania are dissolved;(b) the Closer Settlement Board and the Rural Reconstruction Board are dissolved;(c) the transitional and savings provisions specified in Schedule 4 have effect; and(d) the Acts specified in Schedule 5 are repealed.(1A) [Section 49 Subsection (1A) inserted by No. 76 of 1995, s. 24 ]For the purposes of exercising any transitional functions of TDR on or after 1 July 1995, references in Schedule 4 to "the Authority" are taken to be references to TDR.(2) A person who ceases to hold an appointment by reason of subsection (1) is not entitled to be paid any remuneration or compensation by reason of his ceasing to hold that office.(3) Except to the extent that a provision of this Act is inconsistent with a provision of section 16 of the Acts Interpretation Act 1931 , that section shall apply to, and in relation to, an Act repealed by subsection (1) (d) .
SCHEDULE 1 - Provisions with Respect to Directors
1. Term of office of directors(1) [Schedule 1 Clause 1Subclause (1) amended by No. 76 of 1995, s. 25 ]Except in the case of the chief executive, a director shall be appointed for such term, not exceeding 5 years, as is specified in the instrument of his appointment and shall, if otherwise qualified, be eligible for re-appointment from time to time for such term, not exceeding 5 years, as may be specified in the instrument of his re-appointment.(2) [Schedule 1 Clause 1Subclause (2) omitted by No. 76 of 1995, s. 25 ]. . . . . . . .
2. Remuneration of directorsA director shall be paid such remuneration and allowances as the Governor may determine.
3. State Service Act 2000 not to apply[Schedule 1 Clause 3 amended by No. 29 of 1984, s. 3 and Sched. 1 ][Schedule 1 Amended by No. 86 of 2000, Sched. 1, Applied:01 May 2001] The provisions of the State Service Act 2000 do not apply to, or in respect of, the appointment of a director and a director shall not, in his capacity as such, be subject to the provisions of that Act during his term of office.
4. Appointment of alternate directors to act during absence of director(1) [Schedule 1 Clause 4Subclause (1) amended by No. 76 of 1995, s. 25 ]Where a director is out of Tasmania or unable to perform the duties of his office by reason of illness or for any other reason that the Minister deems sufficient, the Governor may appoint an alternate director to act in his place in accordance with this clause.(2) [Schedule 1 Clause 4Subclause (2) amended by No. 76 of 1995, s. 28 and Sched. 2 ]For the purposes of this clause –(a) the Governor may appoint any person (including a director other than the chairperson) to act in the office of the chairperson;(b) a director other than the chairperson shall be deemed to be absent from his office if he is acting in the office of chairperson pursuant to paragraph (a) ; and(c) a director shall be deemed to be absent from his office if there is a vacancy in that office which has not been filled in accordance with clause 6 .(3) A person shall not be concerned to inquire whether or not any occasion has arisen requiring or authorizing a person to act in the office of a director, and all things done or omitted to be done by that person while so acting shall be as valid, and shall have the same consequences, as if they had been done or omitted to be done by that person.
5. Vacation of office[Schedule 1 Clause 5Subclause (1) amended by No. 63 of 1996, s. 8 ](1) A director shall be deemed to have vacated his office –(a) when he dies;(b) if he becomes bankrupt, applies to take the benefit of any law for the relief of bankrupt or insolvent debtors, compounds with his creditors, or makes an assignment of his remuneration or estate for their benefit;(c) if he is absent from 3 consecutive ordinary meetings of the Board of which reasonable notice has been given to him, either personally or in the ordinary course of post, unless on leave granted by TDR or unless, before the expiration of 3 weeks after the last of those meetings, he is excused by the Board for his absence from those meetings;(d) if he is convicted in Tasmania of a crime or an offence which is punishable by imprisonment for a period of not less than 12 months, or if he is convicted elsewhere than in Tasmania of an offence which, if committed in Tasmania, would be a crime or an offence so punishable; or(e) if he resigns his office by writing under his hand addressed to the Governor and the Governor accepts the resignation.(2) The Governor may remove a director from office if the Governor is satisfied –(a) that TDR has failed to perform a duty arising from a statement of policy objectives given to it by the Minister under section 11 (1) ; or(b) that it is necessary or desirable to do so in order that TDR may achieve its objectives.(3) The Governor may remove a director from office for misbehaviour or incompetence or if the Governor is satisfied that the director –(a) has participated, or has claimed to be entitled to participate, in the profit of, or in any benefit arising from, any contract made by, or on behalf of, TDR other than a contract for a service ordinarily supplied by TDR, on the same terms as that service is supplied to other persons in the same situation;(b) has voted at any meeting of TDR in respect of any matter in which he was at that time interested (otherwise than as a member of the public or as an elector of, or ratepayer to, any municipality, or as a shareholder in a company in which there were at that time more than 20 members and of which he was not at that time a director or officer); or(c) is unable to perform adequately the duties of his office.
6. Filling of casual vacanciesOn the occurrence of a vacancy in the office of a director of the Board, the Governor may appoint a person nominated by the Minister to the vacant office for the balance of his predecessor's term of office.
7. Validity of proceedings, &c.[Schedule 1 Clause 7Subclause (1) amended by No. 76 of 1995, s. 28 and Sched. 1 ](1) No act or proceeding of TDR or of any person acting pursuant to any direction of TDR is invalidated or prejudiced by reason only of the fact that, at the time when the act or proceeding was done, taken, or commenced, there was a vacancy in the office of a director of the Board.(2) All acts and proceedings of TDR or of any person acting pursuant to any direction of TDR are, notwithstanding the subsequent discovery of any defect in the appointment of any director of the Board or that any person was disqualified from acting as, or incapable of being, a director of the Board, as valid as if the director had been duly appointed and was qualified to act as, or capable of being, a director, and as if the Board had been fully constituted.
8. Evidentiary provision[Schedule 1 Clause 8 amended by No. 76 of 1995, s. 28 and Sched. 1 ]In any proceedings by or against TDR, unless evidence is given to the contrary, no proof shall be required of –(a) the constitution of TDR;(b) any resolution of the Board;(c) the appointment of any director of the Board; or(d) the presence of a quorum at any meeting of the Board.
SCHEDULE 2 - Provisions with Respect to Meetings of the Board
1. [Schedule 2 Clause 1 repealed by No. 76 of 1995, s. 26 ]. . . . . . . .
2. Convening of meetings of the Board[Schedule 2 Clause 2Subclause (2) amended by No. 76 of 1995, s. 28 and Sched. 2 ](1) The Board shall meet on at least 11 occasions in each calendar year.(2) A meeting of the Board may be convened by the chairperson or by any 2 directors.
3. Procedure at meetings[Schedule 2 Clause 3Subclause (4) amended by No. 76 of 1995, s. 26 ](1) Three directors shall form a quorum at any duly convened meeting of the Board.(2) For the purpose of subclause (1) , a director who discloses an interest under section 42 shall be disregarded.(3) Any duly convened meeting of the Board at which a quorum is present shall be competent to transact any business of the Board.(4) Questions arising at a meeting of the Board shall, subject to this Act, be determined by a majority of votes of the directors present and voting.
4. Chairperson[Schedule 2 Clause 4Subclause (1) amended by No. 76 of 1995, s. 28 and Sched. 2 ](1) The person acting as chairperson of the Board shall preside at all meetings of the Board at which he is present.(2) If the chairperson or the person appointed under clause 4 (2) (a) of Schedule 1 is not present at a meeting of the Board, any director other than the chief executive elected by the directors present shall preside at that meeting.(3) The chairperson or other person presiding at a meeting of the Board has a deliberative vote, but in the event of an equality of votes on any matter before a meeting of the Board, the chairperson, if he is present, may exercise a second or casting vote or, if that right is not exercised, the matter stands adjourned to the next meeting of the Board.
5. Minutes of meetingsThe Board shall cause full and accurate minutes to be kept of its proceedings at meetings and shall submit to the Minister a copy of the minutes of each meeting within 14 days after the day on which the meeting is held.
6. General procedureThe procedure for the calling of, and for the conduct of business at, meetings of the Board shall, subject to any procedure that is specified in this Schedule, be as determined by the Board.
SCHEDULE 3[Schedule 3 Repealed by No. 86 of 2000, Sched. 1, Applied:01 May 2001]
PART I[Schedule 3, Part I Clause 1Subclause (2) amended by No. 68 of 1994, s. 3 and Sched. 1 ][Part I of Schedule 3 Repealed by No. 86 of 2000, Sched. 1, Applied:01 May 2001] . . . . . . . .
PART II[Schedule 3, Part II Clause 1 amended by No. 76 of 1995, s. 28 and Sched. 1 ][Schedule 3, Part II Clause 4 amended by No. 29 of 1984, s. 3 and Sched. 1 ][Schedule 3, Part II Clause 4 amended by No. 76 of 1995, s. 28 and Sched. 1 ][Schedule 3, Part II Clause 5 amended by No. 68 of 1984, s. 3 and Sched. 1 ][Schedule 3, Part II Clause 5 amended by No. 76 of 1995, s. 28 and Sched. 1 ][Schedule 3, Part II Clause 6 substituted by No. 29 of 1984, s. 3 and Sched. 1 ][Schedule 3, Part II Clause 6 amended by No. 76 of 1995, s. 28 and Sched. 1 ][Schedule 3, Part II Clause 7 substituted by No. 29 of 1984, s. 3 and Sched. 1 ][Schedule 3, Part II Clause 7 amended by No. 76 of 1995, s. 28 and Sched. 1 ][Schedule 3, Part II Clause 8Subclause (3) amended by No. 68 of 1994, s. 3 and Sched. 1 ][Schedule 3, Part II Clause 9 substituted by No. 29 of 1984, s. 3 and Sched. 1 ][Schedule 3, Part II Clause 9 amended by No. 76 of 1995, s. 28 and Sched. 1 ][Schedule 3, Part II Clause 10 substituted by No. 29 of 1984, s. 3 and Sched. 1 ][Schedule 3, Part II Clause 10 amended by No. 60 of 1993, s. 17 ][Schedule 3, Part II Clause 10 amended by No. 76 of 1995, s. 28 and Sched. 1 ][Schedule 3, Part II Clause 12Subclause (3) amended by No. 68 of 1994, s. 3 and Sched. 1 ][Part II of Schedule 3 Repealed by No. 86 of 2000, Sched. 1, Applied:01 May 2001] . . . . . . . .
SCHEDULE 4
Section 48 (2) (c) and 49 (1) (c)
PART I - [Schedule 4, Part I Heading inserted by No. 55 of 1985, s. 9 ]Transitional and Savings Provisions
1. Interpretation[Schedule 4, Part I Clause 1Subclause (1) amended by No. 55 of 1985, s. 9 ]In this Part, former board means –as existing, in each case, immediately before the commencement day.(a) the Board of Management of the Agricultural Bank of Tasmania;(b) the Closer Settlement Board; or(c) the Rural Reconstruction Board –
2. Transfer of assets, &c., of former boards to Authority(1) In subclause (2) , property means any legal or equitable estate or interest, whether present or future and whether vested or contingent, or real or personal property of any description, and includes entitlements, powers, and privileges.(2) Subject to this clause, on and from the commencement day –(a) all property that, immediately before that day, was pursuant to a repealed Act or an Act that, after that day, is administered by the Authority, vested in or belonged to the Crown or a former board shall vest in and belong to the Authority and all responsibility for the management and control of that property shall become vested in the Authority;(b) all money, debts, and claims, liquidated or unliquidated, that, immediately before that day, was or were payable to, due to, or recoverable by, a former board shall be money, debts, or claims payable to, due to, or recoverable by the Authority;(c) all money, debts, and claims, liquidated or unliquidated, that, immediately before that day, was or were payable by, due from, or recoverable against a former board shall be money, debts, or claims payable by, due from, or recoverable against the Authority;(d) the Authority may enforce and realize any security existing immediately before that day in favour of a former board and exercise any powers conferred on that board as if the security were a security in favour of the Authority;(e) all legal proceedings pending immediately before that day which were instituted by a former board shall be deemed to be legal proceedings pending on that day which were instituted by the Authority;(f) all legal proceedings pending immediately before that day which were instituted by any person against a former board shall be deemed to be legal proceedings pending on that day which were instituted by that person against the Authority;(g) legal proceedings which could have been instituted by a former board to enforce an obligation that was required to be performed, or a right that had accrued, before that day, or to enforce an obligation required to be performed or a right that may be exercised in respect of any act, matter, or thing done or omitted to be done, may be instituted by the Authority;(h) legal proceedings which could have been instituted by a person against a former board to enforce an obligation that was required to be performed, or a right that had accrued, before that day, or to enforce an obligation required to be performed or a right that may be exercised in respect of any act, matter, or thing may be instituted by that person against the Authority;(i) any judgment or order of a court obtained by a former board and not executed or satisfied before that day shall be deemed to be a judgment or order in favour of the Authority;(j) any judgment or order of a court obtained by a person against a former board and not executed or satisfied before that day shall be deemed to be a judgment or order against the Authority;(k) any document which was addressed to, and which purported to have been served on or notified to, a former board and which, whether by virtue of this Act or otherwise, had not ceased to have effect before that day shall be deemed to have been served on or notified to the Authority; and(l) any document which was addressed to, and which purported to have been served on, or notified to, a person by, or on behalf of, a former board and which, whether by virtue of this Act or otherwise, had not ceased to have effect before that day shall be deemed to have been served on, or notified to, that person by the Authority.
3. References to the Agricultural Bank of Tasmania, &c.A reference in any enactment, agreement, certificate, notice, or other document to the Agricultural Bank of Tasmania, the Board of Management of the Agricultural Bank of Tasmania, the Closer Settlement Board, or the Rural Reconstruction Board shall, if that enactment, agreement, certificate, notice, or other document was subsisting or in force immediately before the commencement day, be read after that day as a reference to the Authority, and that enactment, agreement, certificate, notice, or other document shall be construed and have effect accordingly.
4. Special provisions applicable to land under Land Titles Act 1980 and Registration of Deeds Act 1935(1) Where any estate or interest in land under the Land Titles Act 1980 is by virtue of clause 2 vested in the Authority, the Authority shall, notwithstanding any provision of that Act to the contrary, be deemed to be the registered proprietor of that estate or interest and may deal with it accordingly.(2) The Recorder of Titles may register an instrument relating to an estate or interest in land referred to in subclause (1) , executed by the Authority, if the instrument is in a registrable form, notwithstanding that the Authority is not recorded as the registered proprietor of that estate or interest in the Register kept under the Land Titles Act 1980 .(3) Where any estate or interest in land to which the Registration of Deeds Act 1935 applies is, by virtue of clause 2 , vested in the Authority, an instrument dealing with that estate or interest may, if executed by the Authority and if otherwise in a registrable form, be registered by the Registrar of Deeds, notwithstanding that no instrument formally vesting that estate or interest in the Authority has been registered under that Act.
5. Certain recurrent expenditure and income of Authority for 1983-1984In respect of the period commencing on the commencement day and ending on 30th June 1984, the provisions of section 23 (1) (a) and (e) and (2) do not apply to, or in relation to, any affairs or activities of the Authority that were carried on by a former board during the financial year ending on that day.
6. Financial statements and annual report for 1983-1984Sections 29 and 41 have effect in relation to the financial statements and annual report to be prepared by the Authority in respect of the financial year ending on 30th June 1984 as if the Authority had had responsibility for the administration of each repealed Act during that financial year.
7. General saving provisionNotwithstanding the repeals effected by section 49 (1) (d) –(a) all acts, matters, and things done, or omitted to bedone, by, or done or suffered in relation to, a former board before the commencement day shall, on and after that day, have the same force and effect as if they had been done by, or suffered in relation to, the Authority; and(b) without limiting the generality of paragraph (a) , a lease granted, certificate or notice given, register kept, agreement, determination, advance, charge, deposit, forfeiture, appointment, or payment made or security taken under a repealed Act that, immediately before the commencement day, was of force or effect shall continue in force and have effect as if granted, given, kept, made, or taken under, or for the purposes of, this Act.
8. Saving for certain guarantees by TreasurerThe repeal of the State Advances Act 1935 effected by section 49 (1) (d) does not disturb the effect of any guarantee that was in force immediately before the commencement day under section 14B of that Act and, notwithstanding that repeal, the provisions of that section continue to have effect in relation to that guarantee.
9. Saving for certain agreementsThe repeal of the Industrial Development Act 1954 effected by section 49 (1) (d) does not disturb the effect of an agreement that was made under that Act or the Industries Establishment Act 1946 and that is in force immediately before the commencement day.
10. Saving for land purchased for new industriesAny land that was –shall be deemed to have been acquired under section 12 and may, if not already disposed of under this Act, be disposed of in accordance with section 14 or, if leased to a person under this Act, may, on the expiration or earlier determination of the lease, be disposed of in accordance with that section.(a) acquired before the commencement day for the purpose of a new industry or the establishment of new industries generally; and(b) immediately before that day, subject to the Industrial Development Act 1954 –
PART II - Savings for State Advances Act Mortgages[Schedule 4, Part II Inserted by No. 55 of 1985, s. 9 ]
1. InterpretationIn this Part –former board means –as existing, in either case, immediately before the commencement day;(a) the Board of Management of the Agricultural Bank of Tasmania; or(b) the Closer Settlement Board –mortgage to which this Part applies means –(a) a mortgage that, immediately before the commencement day, was registered in the State Advances Act Register; or(b) a mortgage taken by a former board that, immediately before the commencement day, was in force but not registered in that register;the repealed Act means the State Advances Act 1935 ;the State Advances Act Register means the register kept by the Commissioner for Corporate Affairs under section 41 (8) of the repealed Act as existing immediately before the commencement day.
2. Application of this PartThis Part has effect notwithstanding the Bills of Sale Act 1900 , the Stock, Wool, and Crop Mortgages Act 1930 , and the repeal of the repealed Act effected by section 49 (1) (d) .
3. Saving for sections 41 to 45 (both inclusive) of State Advances Act 1935For the purposes of this Part –shall continue in force and be deemed to have so continued in force since the commencement day.(a) sections 41 to 45 (both inclusive) of, and the third Schedule to, the repealed Act ; and(b) the State Advances Act Register –
4. Saving for wool and crop mortgages(1) Where a mortgage to which this Part applies was taken in respect of wool or a crop, the mortgage shall be deemed to be subject to section 41 of the repealed Act , as continued in force by virtue of this Part, and, as such, to be, and to have been since the commencement day, duly registered under that section.(2) Without limiting the generality of subclause (1) , section 41 of the repealed Act , as continued in force by virtue of this Part, applies to, and in relation to, a re-registration of a mortgage referred to in that subclause.
5. Saving for stock mortgagesWhere a mortgage to which this Part applies was taken in respect of stock, the mortgage shall be deemed to be subject to the provisions of the Stock, Wool, and Crop Mortgages Act 1930 and, as such, to be, and to have been since the commencement day, duly registered under that Act.
6. General saving for State Advances Act mortgagesA mortgage to which this Part applies, other than a mortgage referred to in clause 4 or 5 , shall be deemed to be a bill of sale to which the provisions of the Bills of Sale Act 1900 apply and, as such, to be, and to have been since the commencement day, duly registered under that Act.
7. Saving for registrations, &c., of State Advances Act mortgagesWithout limiting the generality of clauses 4 , 5 , and 6 , where a mortgage to which this Part applies purports to have been registered or re-registered under the repealed Act on or after the commencement day –(a) in the case of a mortgage taken in respect of wool or a crop, that registration or re-registration is deemed to have been valid and effectual as if it had been a registration or re-registration, as the case may be, of a mortgage under section 41 of the repealed Act as continued in force by virtue of this Part;(b) in the case of a mortgage taken in respect of stock, that registration or re-registration is deemed to have been valid and effectual as if it had been a registration or re-registration, as the case may be, of a mortgage under section 5 (1) or (2) of the Stock, Wool, and Crop Mortgages Act 1930 ; or(c) in the case of any other mortgage to which this Part applies, that registration or re-registration is deemed to have been valid and effectual as if it had been a registration or renewal of a registration, as the case may be, of a bill of sale made under section 6 , 18 , or 19 of the Bills of Sale Act 1900 .
8. Requirement to register certain State Advances Act mortgagesWhere a mortgage to which this Part applies does not purport to have been registered on the commencement day or after that day and before the commencement of the Tasmanian Development Amendment Act 1985 or re-registered on that day or after that day and before that commencement, the Authority shall, on or before 1st July 1985 and in accordance with the regulations –(a) in the case of a mortgage taken in respect of wool or a crop, register that mortgage as a mortgage to which section 41 of the repealed Act , as continued in force by virtue of this Part, applies;(b) in the case of a mortgage taken in respect of stock, register that mortgage as a mortgage to which the Stock, Wool, and Crop Mortgages Act 1930 applies; or(c) in the case of any other mortgage to which this Part applies, register that mortgage as a bill of sale to which the Bills of Sale Act 1900 applies.
9. This Part not to apply to satisfied mortgagesThis Part does not apply to, or in relation to, a mortgage that was satisfied before the commencement of the Tasmanian Development Amendment Act 1985 .
10. Public notification of provisions of this Part(1) The Commissioner for Corporate Affairs shall, within one month after the commencement of the Tasmanian Development Amendment Act 1985 , give public notification in such form as he thinks fit and in accordance with subclause (2) , of the provisions of this Part.(2) Public notification under subclause (1) shall be published in the Gazette and in each of 3 newspapers circulating generally throughout the State.
PART III - Savings Provisions Relating to Development of Tourism[Schedule 4, Part III Inserted by No. 106 of 1987, s. 23 ]
1. Repayment of former tourism loans[Part III of Schedule 4 Amended by No. 4 of 2017, Sched. 1, Applied:29 Jun 2016] Where the Authority receives money by way of repayment of a loan originally made by the Treasurer under section 20 of the Tourism Development Act 1970 or as interest on any such loan, the Authority shall pay the money to the Public Account or, if the case so requires, as the Treasurer may direct.
2. Liability under guarantees given under Tourism Act 1977Where, immediately before the commencement of the Tourism Amendment Act 1987 , a guarantee given by the Minister for Tourism under Part V of the Tourism Act 1977 was in force –as if it had been given by the Treasurer under that section.(a) the contingent liability of the Minister under the guarantee is transferred to the Treasurer; and(b) the application of section 36 (7) , (8) , and (9) of this Act extends to that guarantee –
3. Power of Authority to inspect facilitiesThe Authority may at any time inspect any facility that is provided by money for the repayment of which a guarantee referred to in clause 2 is in force.
PART IV - Transitional and Savings Provisions Relating to TDR[Schedule 4, Part IV Inserted by No. 76 of 1995, s. 27 ]
1. InterpretationIn this Part–prescribed obligations and liabilities means obligations and liabilities of the Crown arising from the administration of a TDR Act;prescribed property means –(a) an estate or interest in land of the Crown used in the administration of a TDR Act; or(b) money, investments or other property of the Crown used in the administration of a TDR Act;relevant date means the date specified in a notice under this Part as the date on which the notice takes effect.
2. Transfer of property, &c., to TDR(1) With the agreement of the Minister, the Treasurer and TDR or a subsidiary, a Minister to whom a Government department that is responsible for any prescribed property or prescribed obligations and liabilities is responsible may, by notice published in the Gazette –(a) transfer any of that prescribed property or those prescribed obligations and liabilities to TDR or a subsidiary; and(b) provide for any matter that is incidental to that transfer.(2) The Minister must not transfer an estate or interest in land of the Crown under this clause unless he or she has consulted with the Minister administering the Crown Lands Act 1976 .(3) On the day specified in a notice made under subclause (1) –(a) the property specified in, and transferred by, the notice vests in TDR or the subsidiary; and(b) the prescribed obligations and liabilities specified in, and transferred by, the notice become the obligations and liabilities of TDR or the subsidiary.(4) A notice under subclause (1) is not a statutory rule for the purposes of the Rules Publication Act 1953 .
3. Construction of instruments(1) This clause applies to an instrument that –(a) arises from the administration of a TDR Act; and(b) relates to prescribed obligations and liabilities or to prescribed property; and(c) was in force immediately before the relevant date; and(d) contains a reference to the Crown.(2) Unless the context or subject-matter of an instrument to which this clause applies otherwise indicates or requires, the instrument has effect on and from the relevant date as if –(a) the reference to the Crown were a reference to TDR; or(b) if the case so requires, the reference to the Crown included a reference to TDR.
4. Continuation of proceedings(1) This clause applies to legal or other proceedings relating to prescribed property or prescribed obligations and liabilities that are transferred to TDR under clause 2 .(2) Any legal or other proceedings to which this clause applies that might, before the relevant date, have been continued or instituted by or against the Crown may, on and after that date, be continued or instituted by or against TDR.(3) A judgment or order of a court obtained in legal proceedings to which this clause applies where the proceedings are brought by or against the Crown may be enforced by or against TDR on or after the relevant date.
5. Powers of TDR in respect of matters arising under this Part(1) This clause applies to debts, money, claims, securities and charges relating to prescribed property or prescribed obligations and liabilities that are transferred to TDR under clause 2 .(2) On and after the relevant date, TDR may, in the administration of a TDR Act –(a) in addition to pursuing any other remedies or exercising any other powers that may be available to it, pursue the same remedies for the recovery of debts, money and claims to which this clause applies that are payable to, or recoverable by, the Crown and for the prosecution of proceedings relating to any such debts, money or claims as the Crown might have done but for the enactment of this clause; and(b) enforce and realise any security or charge to which this clause applies and which is existing immediately before the relevant date in favour of the Crown and may exercise any powers conferred under the security or charge on the Crown as if it were a security or charge in favour of TDR.
6. Contracts and agreements(1) This clause applies to a contract, agreement, arrangement or undertaking entered into by the Crown for the purposes of a TDR Act and which relates to prescribed property or prescribed obligations and liabilities that are transferred to TDR under clause 2 .(2) A contract, agreement, arrangement or undertaking to which this clause applies, if not executed, discharged or otherwise terminated before the relevant date, is taken to be a contract, agreement, arrangement or undertaking entered into by TDR.(3) A person who is a party to a contract or agreement to which this clause applies is not entitled to terminate that contract or agreement by reason only of a transfer under this Part of any property, obligation or liability to which that contract relates.
7. Saving for directors and officersThe amendments made by the Tasmanian Development Amendment Act 1995 do not affect the tenure or term of office of a director or officer of TDR and the person who held office as managing director on 30 June 1995 is taken to have been appointed as chief executive.
SCHEDULE 5 - Acts Repealed
Year and number of Act | Short title of Act | No. 72 of 1976 | Apple Industry (Assistance) Act 1976 | No. 22 of 1976 | General Jones Pty. Limited Loan and Guarantee Act 1976 | 2 Geo. VI No. 20 | Housing Improvement Act 1938 | 10 Geo. VI No. 17 | Housing Improvement (Powers of Approved Institutions) Act 1946 | No. 71 of 1954 | Industrial Development Act 1954 | No. 84 of 1976 | Industrial Development Act 1976 | No. 35 of 1978 | Industrial Development Act 1978 | No. 66 of 1982 | Industrial Development Amendment Act 1982 | No. 25 of 1983 | Industrial Development Amendment Act 1983 | No. 76 of 1977 | Industries Assistance Act 1977 | No. 22 of 1975 | King Island Dairy Products Co-operative Society Limited Loan Guarantee Act 1975 | No. 23 of 1976 | King Island Dairy Products Co-operative Society Limited Loan Guarantee Act 1976 | No. 70 of 1977 | Poultry Industry (Broiler Raising) Loan Guarantee Act 1977 | 26 Geo. V No. 41 | State Advances Act 1935 | 9 & 10 Geo. VI No. 68 | State Advances Act (No. 2) 1946 | 11 & 12 Geo. VI No. 94 | State Advances Act 1947 | No. 60 of 1965 | State Advances Act 1965 | No. 6 of 1978 | State Advances Act 1978 | No. 30 of 1979 | State Advances Amendment Act 1979 | No. 57 of 1979 | State Advances Amendment Act (No. 2) 1979 |