Compilation #0 | Effective 1991-10-21
FRBR Work URI: /akn/au/act/1991/149
32 Part V of the Principal Act is repealed.
33 Sections 51 and 52 of the Principal Act are repealed and the following sections are substituted:
“(1) There is to be a Managing Director of the Commission.
“(2) The Managing Director is to be appointed by the Minister after the Minister has received a recommendation from the Board.
“(3) The Minister may appoint a Deputy Managing Director after the Minister has received a recommendation from the Board.
“(4) The Minister must not appoint as Managing Director or Deputy Managing Director a person who has reached 65 years of age.
“(5) The Managing Director and Deputy Managing Director hold office on such terms and conditions (if any) in respect of matters not provided for by this Act as are determined by the Board.
“(6) An appointment under this section is not ineffective merely because of a defect or irregularity in relation to the appointment.
“The Managing Director and Deputy Managing Director hold office:
on a full-time basis; and
at the pleasure of the Board.”.
34 Remuneration and allowances
Section 54 of the Principal Act is amended by omitting from subsection (3) “Remuneration Tribunals Act 1973” and substituting “Remuneration Tribunal Act 1973”.
35 Acting Managing Director and acting Deputy Managing Director
Section 56 of the Principal Act is amended:
by omitting from subsection (2) “Minister” and substituting “Board”;
by omitting from subsection (4) “Minister” and substituting “Board”;
by omitting from subsection (5) “Minister” and substituting “Board”;
by omitting subsection (6) and substituting the following subsection:
“(6) The appointment of a person to act as Managing Director or Deputy Managing Director ceases to have effect if the person resigns by giving the Chairperson a signed notice of resignation.”.
36 Resignation
Section 58 of the Principal Act is amended by omitting “Minister” and substituting “Chairperson”.
37
Section 59 of the Principal Act is repealed.
38 Commission to develop corporate plans
Section 64 of the Principal Act is amended by omitting from subsection (1) “policies and”.
39 Section 70 of the Principal Act is repealed.
40 Money of the Commission
Section 71 of the Principal Act is amended by omitting subsection (1) and substituting the following subsection:
“(1) There are to be available to the Commission such amounts as are, from time to time, appropriated by the Parliament for the purposes of the Commission, including, but without limiting the generality of the foregoing, amounts for the purpose of making payments of grants under the Export Market Development Grants Act 1974.”.
41 Application of money of Commission
Section 72 of the Principal Act is amended:
by omitting “, other than the money standing to the credit of the Fund,”;
by omitting from paragraph (a) “, not being liabilities required to be paid from the Fund”;
by adding “or” at the end of paragraphs (a), (b) and (c);
by omitting paragraphs (ca) and (d).
42 Sections 73, 74 and 75 of the Principal Act are repealed.
43 Commission may give security
Section 80 of the Principal Act is amended:
by omitting from subsection (1) “Subject to subsection (2), the” and substituting “The”;
by omitting subsection (2).
45 Delegations by Minister and Managing Director
Section 90 of the Principal Act is amended by omitting from paragraph (1)(a) “44, 48, 50,”.
46 Secrecy
Section 94 of the Principal Act is amended by omitting paragraph (4) (a).
47 Regulations
Section 97 of the Principal Act is amended by omitting paragraph (c).
48 Transitional provision—existing Managing Director
The person who, immediately before the commencement of this Part, held office as the Managing Director of the Commission continues to hold that office.
Sections 51, 52, 56, 58 and 59 of the Principal Act as in force immediately before the commencement of this Part continue to apply in relation to the person.
Sections 51, 52, 56, 58 and 59 of the Principal Act as amended by this Act do not apply in relation to the person.
Subsections (2) and (3) cease to have effect when the office of Managing Director next becomes vacant.
49 Transitional provision—existing Deputy Managing Director
The person who, immediately before the commencement of this Part, held office as the Deputy Managing Director of the Commission continues to hold that office.
Sections 51, 52, 56, 58 and 59 of the Principal Act as in force immediately before the commencement of this Part continue to apply in relation to the person.
Sections 51, 52, 56, 58 and 59 of the Principal Act as amended by this Act do not apply in relation to the person.
Subsections (2) and (3) cease to have effect when the office of Deputy Managing Director next becomes vacant.
Part 6—Amendments of other Acts
50 Amendments of other Acts
The Acts specified in the Schedule are amended as set out in that Schedule.
(2) The reference in subsection 9 (1) of the Insurance Contracts Act 1984, as that subsection is amended by this Act, to contracts and proposed contracts of insurance entered into, or proposed to be entered into, by EFIC includes a reference to contracts of insurance that were entered into by the Commission under Part V of the Australian Trade Commission Act 1985 as in force before the commencement of this Act.
Schedule 1—Amendments of other Acts
Section 50
Administrative Decisions (Judicial Review) Act 1977
Schedule 2:
Add at the end:
“(zb) decisions relating to the activities of the Export Finance and Insurance Corporation under Export Finance and Insurance Corporation Act 1991.”.Part 4 or 5 of the
Freedom of Information Act 1982
Schedule 2 (Part II):
Omit the item relating to the Australian Trade Commission, substitute:
“ ‘Australian Trade Commission’, in relation to documents concerning the carrying out, in whole or in part, of overseas development projects”;
After the item relating to the Department of the Treasury, insert:
“Export Finance and Insurance Corporation, in relation to documents concerning anything done by it under Export Finance and Insurance Corporation Act 1991”.Part 4 or 5 of the
Insurance Act 1973
Paragraph 5(2)(c):
Omit the paragraph, substitute:
“(c) the Export Finance and Insurance Corporation established by the Export Finance and Insurance Corporation Act 1991;”.
Insurance (Agents and Brokers) Act 1984
Section 7:
Add at the end:
“; or (c) of insurance entered into, or proposed to be entered into, by the Export Finance and Insurance Corporation under the Export Finance and Insurance Corporation Act 1991.”.
Insurance Contracts Act 1984
Paragraph 9(1)(c):
Omit “Australian Trade Commission”, substitute “Export Finance and Insurance Corporation”.