Division 1 Establishment of Port Corporations as statutory State owned corporations

6   Establishment of Newcastle Port Corporation as statutory SOC

(1)  There is constituted by this Act a corporation with the corporate name of the Newcastle Port Corporation.

(2)  (Repealed)

7   Establishment of Port Kembla Port Corporation as statutory SOC

(1)  There is constituted by this Act a corporation with the corporate name of the Port Kembla Port Corporation.

(2)  (Repealed)

8   Establishment of Sydney Ports Corporation as statutory SOC

(1)  There is constituted by this Act a corporation with the corporate name of the Sydney Ports Corporation.

(2)  (Repealed)

Note. The State Owned Corporations Act 1989 contains many provisions that apply to the Port Corporations as statutory State owned corporations. In particular, Part 3 contains provisions relating to their status, the application of the Corporations Act 2001 of the Commonwealth, the issue of shares to the Treasurer and another Minister, the board of directors, the chief executive officer, the employment of staff, the giving of directions by the portfolio Minister (including for the performance of non-commercial activities or the carrying out of public sector policies), the memorandum and articles, dividends and tax-equivalent payments, government guarantees, the sale or disposal of assets and legal capacity. Part 4 deals with the accountability of State owned corporations (including statements of corporate intent, annual reports and accounts). Part 5 deals with miscellaneous matters (including the duties and liabilities of directors and the application of public sector legislation).