📜 Government Trading Enterprises Bill 2022
The Government Trading Enterprises Bill 2022 standardises governance, strategic planning, and accountability for certain government trading enterprises (GTEs) in Western Australia. It aims to consolidate requirements currently spread across multiple Establishing Acts and strengthen oversight.
Impact
The bill affects the governance and operation of specified GTEs, including electricity, water, and port authorities. It aims to improve efficiency, transparency, and alignment with government objectives, impacting the services they provide to the public and their financial management.
Key Changes
Parliamentary Progress
- LA IntroducedLA24 Nov 2022
- LA Second Reading MovedLA24 Nov 2022
- LA Second Reading AgreedLA14 Mar 2023
- LA Consideration in DetailLA14 Mar 2023
- LA Third ReadingLA23 Mar 2023
- LC Second Reading MovedLC23 Mar 2023
- LC Second Reading AgreedLC16 May 2023
- LC Third ReadingLC15 June 2023
- Royal Assent22 June 2023
Penalty Provisions6 found
Breach of borrowing limits
“134. Breach of borrowing limits If a GTE borrows an amount that exceeds the borrowing limit set for the GTE under section 133, the GTE commits an offence. Penalty: a fine of $50 000.”
Providing false or misleading information
“49. False or misleading information An executive officer or a member of the staff of a GTE must not give information to a director, the CEO, the Portfolio Minister or the Treasurer that the executive officer or staff member knows is false or misleading in a material particular. Penalty: a fine of $50 000 or imprisonment for 1 year, or both.”
Improper use of position
“50. Use of position An executive officer or a member of the staff of a GTE must not make improper use of their position as such an officer or member to gain, directly or indirectly, an advantage for themselves or any other person or to cause detriment to the GTE. Penalty: a fine of $50 000 or imprisonment for 1 year, or both.”
Improper use of information
“51. Use of information An executive officer or a member of the staff of a GTE must not make improper use of information acquired by virtue of their position as such an officer or member to gain, directly or indirectly, an advantage for themselves or any other person or to cause detriment to the GTE. Penalty: a fine of $50 000 or imprisonment for 1 year, or both.”
Prohibition on loans to directors and related persons
“65. Prohibition on loans to directors and related persons A GTE must not, directly or indirectly — (a) make a loan to a director of the GTE or a related person of such a director; or (b) give a guarantee or provide security in connection with a loan made to such a director or related person. Penalty for contravention of this section: a fine of $10 000 or imprisonment for 2 years, or both.”
Failure to comply with information request
“89. Duty to comply with information request If a GTE receives a request under section 88, the GTE must comply with the request. Penalty for contravention of this section: a fine of $50 000.”
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