Guidelines for the Formation, Acquisition and Post Approval Monitoring of Companies
The purpose of the Guidelines for the Formation, Acquisition and Post Approval Monitoring of Companies (the company guidelines) is to outline the various issues that should be addressed by agencies in seeking the Treasurer’s approval under section 44 of the Financial Administration and Audit Act 1977 (FA&A Act). The company guidelines also reinforce the importance of establishing appropriate governance, accountability and monitoring frameworks for companies.
Addendum to the Company Guidelines
The Public Accounts Committee has recommended a process be established to give timely effect to the transfer of companies between public sector entities. In addition, under the current company guidelines public sector companies are required to make certain notifications to third parties, for example, on changes in ownership or structure of a company. In order to give effect to the Public Accounts Committee recommendation and to assist officers in making the relevant notifications, an addendum to the company guidelines has been issued and may be accessed using the link provided below.
Register of Public Sector Companies
The Public Accounts Committee has also recommended a Register of Public Sector Companies be established and maintained. Cooperation from relevant parties is sought to provide details needed to populate the register. To streamline the process, a Notification of Company Details Form has been designed and may be accessed directly below.
Review of Company Guidelines - Public Sector Feedback Invited
Following the expected passage of the Financial Accountability Bill the company guidelines will be revised to update references and address stakeholder feedback, including that from the Public Accounts Committee and the Auditor-General. Revised guidelines are expected to be released by the end of 2009. Written submissions are requested and should be made via the Invitation to Comment form available below.
| Title | Date | File type | Link |
|---|---|---|---|
| Company Guidelines | September 2005 | download (150 K) | |
| Addendum to Company Guidelines | March 2009 | doc | download (45 K) |
| Invitation to Comment | March 2009 | doc | download (85 K) |
| Checklist to Ensure Relevant Third Parties are Notified of Changes to a Public Sector Company | March 2009 | doc | download (70 K) |
| Notification of Company Details Form | March 2009 | doc | download (60 K) |
For further information:
Last reviewed 23 April 2009
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