Australian Capital Territory
Territory-owned Corporations Regulation 2008
Subordinate law SL2008–24
made under the  
Territory-owned Corporations Amendment Act 2006
EXPLANATORY STATEMENT

			Outline

The regulation is an amendment to the Territory-owned Corporations Amendment Act 2006.  That Act provided for the removal of Rhodium Asset Solutions Limited from Schedule 1 of the Territory-owned Corporations Act 1990 at a date to be fixed by the Minister or 12 months after the date of notification ie. 20 December 2007.

The Territory-owned Corporations Amendment Act 2007 delayed the default commencement date of when Rhodium is removed from Schedule 1 of the    Territory-owned Corporations Act 1990 for a further 6 months to 20 June 2008 or to a date prescribed by regulation.

The objective of this regulation is to delay the default commencement date of when Rhodium is removed from Schedule 1 of the Territory-owned Corporations Act 1990 until 12 December 2008.

Financial Implications

 The regulation itself does not contain any significant financial implications.  However, the Territory will receive certain financial benefits from the subsequent sale of shares of Rhodium Asset Solutions Limited.

Details of the Regulation

Section 1	Name of Regulation
		States the name of the regulation.

Section 2	Commencement
Sets the date of commencement of the regulation to the day after its notification.

Section 3	Amending Act commencement
States the prescribed date that the Territory-owned Corporations Amendment Act 2006 will commence (12 December 2008).

Section 4	Expiry of Regulation
States that the regulation will expire the day after it has commenced.