Document ID: chunk:federal_register_of_legislation:C2004A03839:body:0:p4
Version: federal_register_of_legislation:C2004A03839
Segment Type: other
Provision Reference: 
Character Range: 8180–10905

direction under subsection (1) shall be in writing and shall set out the Minister's reasons for the direction.
"(4) The Minister shall cause a copy of any direction given to the Board under subsection (1) to be laid before each House of the Parliament within 10 sitting days of that House after the giving of the direction.

Board to notify Minister of significant affecting events etc.
"23h. If the Board forms the opinion that matters have arisen that may prevent, or significantly affect, the achievement of:
     (a) the objectives of the Corporation and its eligible subsidiaries under the corporate plan; or
     (b) the financial target under the corporate plan;

the Board shall, as soon as practicable, notify the Minister of its opinion and the reasons for the opinion.".

Liability to taxation
12. (1) Section 27 of the Principal Act is amended:
     (a) by omitting from subsection (1) "Subject to subsection (1b), the" and substituting "The";
     (b) by omitting subsection (1b) and substituting the following subsections:
     "(1b) The Corporation is subject to stamp duty or any similar tax under a law of a State or Territory in respect of transactions entered into by, and documents executed by or on behalf of, the Corporation.
     "(1c) Nothing in subsection (1b) limits the regulations that may be made for the purposes of subsection (1a).".
(2) The amendments made by subsection (1) apply in relation to a transaction entered into, or a document executed, on or after 1 July 1989.
(3) The reference in subsection (2) to a transaction entered into on or after 1 July 1989 does not include a reference to:
     (a) the making of an advance on or after that date under a document executed before that date; or
     (b) any other transaction that, under the regulations, is treated as the equivalent of a pre-1 July 1989 transaction for stamp duty exemption purposes.
(4) The reference in subsection (2) to a document executed on or after 1 July 1989 does not include a reference to a document that, under the regulations, is treated as the equivalent of a pre-1 July 1989 document for stamp duty exemption purposes.
(5) The Governor-General may make regulations under section 38 of the Principal Act as amended by this Act for the purposes of subsections (3) and (4) of this section.

Audit
13. Section 29 of the Principal Act is amended by inserting after subsection (7) the following new subsections:
"(7a) The Auditor-General is to be appointed auditor of each Australian subsidiary of the Corporation where any law of the Commonwealth, a State or a Territory relating to companies requires the appointment of an auditor for such a subsidiary.
"(7b) When the Auditor-General is appointed auditor under