ECONOMIC DEVELOPMENT ACT 1993 TABLE OF PROVISIONS PART 1--Preliminary 1. Short title 3. Objects 4. Interpretation 5. Collective name PART 2--Economic Development Board Division 1--Establishment of the Board 6. Establishment of the Board 7. Ministerial control Division 2--The Chief Executive Officer 8. Chief Executive Officer Division 3--The Board's membership 9. Composition of the Board 10. Conditions of membership 11. Remuneration Division 4--The Board's procedures 15. Proceedings PART 3--Functions and powers of the Board 16. Functions of the Board 17. Powers of the Board 18. Annual report PART 4--Miscellaneous 19. Budgets 20. Banking and investment 21. Accounts and audit 22. Regulations Legislative history Appendix--Divisional penalties and expiation fees ECONOMIC DEVELOPMENT ACT 1993 - LONG TITLE An Act to promote the economic development of the State; and for other purposes. ECONOMIC DEVELOPMENT ACT 1993 - SECT 1 1--Short title This Act may be cited as the Economic Development Act 1993. ECONOMIC DEVELOPMENT ACT 1993 - SECT 3 3--Objects The objects of this Act are-- (a) to promote internationally focused, competitive, market-driven and sustainable economic development throughout the State; (b) to promote a productive partnership or collaboration between public and private enterprise in the State; (c) to encourage and facilitate investment, and industrial and commercial development, in the State; (d) to contribute to public understanding of the issues affecting the economic development of the State; (e) to establish the Economic Development Board as the State's primary agency for determining, co-ordinating and implementing economic development strategies for the State. ECONOMIC DEVELOPMENT ACT 1993 - SECT 4 4--Interpretation In this Act, unless the contrary intention appears-- "Board" means the Economic Development Board established under this Act; "CEO" means the Chief Executive Officer of the Board. Note-- For definition of divisional penalties (and divisional expiation fees) see Appendix. ECONOMIC DEVELOPMENT ACT 1993 - SECT 5 5--Collective name The Board, the CEO and the other staff of the Board may be collectively referred to as the Economic Development Authority. ECONOMIC DEVELOPMENT ACT 1993 - SECT 6 6--Establishment of the Board (1) The Economic Development Board is established. (2) The Board is a body corporate. (3) The Board is an instrumentality of the Crown and holds its property on behalf of the Crown. ECONOMIC DEVELOPMENT ACT 1993 - SECT 7 7--Ministerial control (1) The Board is subject to control and direction by the Minister. (2) No Ministerial direction can be given to suppress information or recommendations from a report by the Board under this Act. (3) The Minister must ensure that copies of any Ministerial direction given under this section are laid before both Houses of Parliament within 6 sitting days after the direction is given. (4) The Board must, in relation to each financial year, enter into a performance agreement with the Minister obliging the Board to meet performance targets established by the agreement in that financial year. (5) A direction given during a particular financial year or a performance agreement for a particular financial year must be published in the report of the Board for that financial year. ECONOMIC DEVELOPMENT ACT 1993 - SECT 8 8--Chief Executive Officer (1) The office of Chief Executive Officer (CEO) of the Board is established. (2) The CEO is, subject to the control and direction of the Board, responsible for-- (a) managing the staff and resources of the Board; and (b) giving effect to the policies and decisions of the Board. (3) The CEO is to be appointed by the Governor on terms and conditions determined by the Governor. ECONOMIC DEVELOPMENT ACT 1993 - SECT 9 9--Composition of the Board (1) The Board is to consist of not less than 8 and not more than 13 members. (2) The CEO is to be a member of the Board ex officio and the remaining members are to be appointed by the Governor. (3) The Board's membership must include persons who have, in the Minister's opinion, appropriate expertise in economic development, international business, management and industrial relations and at least one of those persons must be a woman and at least one a man. (4) One member of the Board will be appointed by the Governor to chair meetings of the Board. (5) The Governor may appoint a person to be the deputy of a member of the Board, and a person so appointed may act as a member of the Board in the absence of that member. ECONOMIC DEVELOPMENT ACT 1993 - SECT 10 10--Conditions of membership (1) A member of the Board (except the CEO) will be appointed for a term, not exceeding three years, specified in the instrument of appointment and, at the expiration of a term of appointment, will be eligible for reappointment. (2) The Governor may remove a member of the Board from office-- (a) for misconduct; or (b) for failure or incapacity to carry out the duties of his or her office satisfactorily; or (c) if serious irregularities have occurred in the conduct of the Board's affairs or the Board has failed to carry out its functions satisfactorily and the Board's membership should, in the opinion of the Governor, be reconstituted for that reason. (3) The office of a member of the Board becomes vacant if the member-- (a) dies; or (b) completes a term of office and is not reappointed; or (c) resigns by written notice to the Minister; or (d) is convicted of an indictable offence; or (e) is removed from office under subsection (2). ECONOMIC DEVELOPMENT ACT 1993 - SECT 11 11--Remuneration A member of the Board is entitled to such remuneration, allowances and expenses as may be determined by the Governor. ECONOMIC DEVELOPMENT ACT 1993 - SECT 15 15--Proceedings (1) A quorum of the Board consists of one half the total number of its members (ignoring any fraction resulting from the division) plus one. (2) The member appointed to chair meetings of the Board will preside at meetings of the Board or, in the absence of that member, a member chosen to preside by those present. (3) A decision carried by a majority of the votes cast by members at a meeting is a decision of the Board. (4) Each member present at a meeting of the Board has one vote on any question arising for decision and, if the votes are equal, the member presiding at the meeting may exercise a casting vote. (5) A telephone or video conference between members of the Board will, for the purposes of this section, be taken to be a meeting of the Board at which the participating members are present. (6) A proposed resolution of the Board-- (a) of which notice is given to all members of the Board in accordance with procedures determined by the Board; and (b) in which a majority of the members of the Board express their concurrence in writing, is a decision of the Board. (7) The Board must have accurate minutes kept of its proceedings. (8) Subject to this Act, the Board may determine its own procedures. ECONOMIC DEVELOPMENT ACT 1993 - SECT 16 16--Functions of the Board (1) The Board has the following functions (which are to be carried out in consultation with the Minister): (a) to prepare a plan, or a series of plans, for the growth and sustainable development of the State economy and for the consolidation and growth of sustainable employment in the State; and (b) to formulate policies and strategies for implementation of the plan or plans in the private and public sectors; and (c) to analyse factors influencing business and investment and to recommend action to enhance the international competitiveness of the State's industry and commerce; and (d) to formulate or implement strategies for the development of international trade and marketing, and the attraction of investment to the State, in accordance with the plan or plans for development of the State economy; and (e) to negotiate for the expansion of industries in the State, or for the establishment of new industries in the State; and (f) to encourage and oversee economic planning and development in sectors of the State's economy; and (g) to identify the infrastructure necessary to maintain and expand the State's economy, to develop and recommend strategies for the provision of such infrastructure and to monitor its establishment; and (h) to foster, in collaboration with appropriate regional authorities, the development of regional economies in the State; and (i) to identify the skills necessary for the maintenance and expansion of the State's economy and to develop strategies for ensuring that those skills are developed and maintained as a basis for the expansion of levels of sustainable employment in the State; and (j) to integrate scientific and technological research and its commercial exploitation within the economic framework of the State; and (k) to initiate and carry out projects and programs, or to participate as a member of a joint venture in projects and programs, for the economic development of the State; and (l) to recommend criteria that should be met by government agencies in relation to the provision of, or the capacity to provide, the infrastructure or services required, in accordance with the Board's economic development plans, for the economic development of the State; and (m) to assist regional development authorities, by making available to them (on terms mutually agreed between the Board and the authorities) the expertise of officers and employees of the Board, to develop and implement regional development strategies, and to empower such authorities to act on the Board's behalf, to an appropriate extent, in pursuance of delegated powers; and (n) to carry out any other functions assigned to the Board by the Minister. (2) Any agreement negotiated by the Board for industrial expansion or development in the State is binding on the State and its instrumentalities if the agreement is consistent with the law of the State and ratified by the Governor. (3) The Board may, if authorised by the Governor to do so, exercise, in relation to a specified proposal for expansion or development of industry, a specified statutory power to grant an approval, consent, licence or exemption. (4) If an authorisation is given under subsection (3)-- (a) the statutory power may be exercised by the Board as if the power had been duly delegated to it by the authority, body or person in whom the power is primarily vested; and (b) the Board must consult with that authority, body or person in relation to the exercise of the power (but is not bound to comply with directions as to the exercise of the power given by that authority, body or person); and (c) any statutory provisions governing, or incidental to, the exercise of the power must be observed by the Board as if it were that authority, body or person; and (d) any statutory provisions for appeal against or review of a decision to exercise the power or to refrain from exercising the power apply in relation to a decision by the Board in relation to the exercise of the power. (5) An authorisation under subsection (3) is to be given, and may be varied or revoked, by proclamation, and within 6 sitting days after such a proclamation is made, the Minister must have a report, setting out the terms of the proclamation, laid before both Houses of Parliament. (6) The Board must monitor the extent to which a government agency complies with criteria recommended under subsection (1)(l), and adopted by the Minister responsible for the relevant agency, and any failure to comply with such criteria must be reported in the Board's annual report. (7) The Board-- (a) may not acquire shares or any other interest in the capital of a body corporate unless the acquisition has been approved by the Governor; and (b) may not enter into a contract to carry out any kind of development project, or to participate in the carrying out of a development project as a partner or a member of a joint venture, unless the contract, or the project, has been approved by the Governor. (8) Subject to subsection (9), a ratification under subsection (2), or an approval under subsection (7)(a) or (b)-- (a) must be published by the Minister-- (i) by notice in the Gazette within 14 days after the ratification or approval was given; and (ii) by tabling the ratification or approval in both Houses of Parliament within 6 sitting days after its publication in the Gazette; and (b) must be published by the Board in its next annual report. (9) If the Minister is of the opinion that publication of a ratification or approval under subsection (8) might detrimentally affect the commercial interests of any interested party, or might breach a duty of confidence, the ratification or approval need not be published by the Minister or the Board as required by that subsection, but instead-- (a) the Minister must cause the ratification or approval to be reported to the Economic and Finance Committee of the Parliament within 14 days after the ratification or approval was given; and (b) the Board must cause a statement of the fact that the ratification or approval was given to be published in its next annual report. ECONOMIC DEVELOPMENT ACT 1993 - SECT 17 17--Powers of the Board (1) The Board has the powers necessary or incidental to the performance of its functions. (2) The Board may, for example-- (a) enter into any form of contract or arrangement; (b) employ staff or make use of the services of staff employed in the public or private sector; (c) engage consultants or other contractors; (d) provide services within areas of the Board's expertise on terms and conditions determined by the Board; (e) delegate any of its powers to the CEO or to any other person or group of persons; (f) establish committees (consisting of members of the Board, persons who are not members of the Board or a combination of members and non-members) and assign to the committees advisory functions or delegated powers. (3) A delegation of powers by the Board-- (a) may only be made with the Minister's consent; and (b) must be in writing; and (c) is revocable at will and does not derogate from the power of the Board to act itself in any matter. (4) The Board cannot delegate a statutory power that the Board is authorised to exercise by the Governor under section 16(3). (5) An employee of the Board is not, as such, a member of the Public Service (but the Board may employ a person who is on leave from employment in the Public Service or with an instrumentality or agency of the Crown). ECONOMIC DEVELOPMENT ACT 1993 - SECT 18 18--Annual report (1) The Board must, on or before 30 September in every year, forward to the Minister a report under this section. (2) The report must contain-- (a) a report on the Board's operations for the year ending on the preceding 30 June; (b) a report on the state of the State's economy with particular reference to-- (i) Australian and international standards of efficiency and competitiveness; and (ii) the extent to which goals set in the Board's plans for the State's economic development have been achieved; and (c) any information required by or under other provisions of this Act. (3) The Minister must, within 12 sitting days after receiving a report under this section, have copies of the report laid before both Houses of Parliament. ECONOMIC DEVELOPMENT ACT 1993 - SECT 19 19--Budgets (1) The Board must, as required by the Minister, submit to the Minister budgets setting out estimates of the Board's future income and expenditure. (2) The Minister may approve a budget submitted under this section with or without modification. (3) The Board may not expend money unless provision for the expenditure is made in a budget approved under this section or unless the expenditure is approved by the Minister. ECONOMIC DEVELOPMENT ACT 1993 - SECT 20 20--Banking and investment (1) The Board may establish and operate ADI accounts. (2) Any money of the Board that is not immediately required for the purposes of the Board may be invested in a manner approved by the Treasurer. ECONOMIC DEVELOPMENT ACT 1993 - SECT 21 21--Accounts and audit (1) The Board must cause proper accounting records to be kept in relation to its financial affairs, and must have annual statements of account prepared in respect of each financial year. (2) The accounting records and the statements of account must comply with-- (a) any instructions of the Treasurer under section 41 of the Public Finance and Audit Act 1987; and (b) any further requirements imposed by the Auditor-General. (3) The Auditor-General may at any time audit the accounts of the Board and must audit the annual statements of account. ECONOMIC DEVELOPMENT ACT 1993 - SECT 22 22--Regulations (1) The Governor may make regulations for the purposes of this Act. (2) A regulation may impose a fine, not exceeding a division 7 for breach of the regulation. ECONOMIC DEVELOPMENT ACT 1993 - NOTES Legislative history Notes * Please note--References in the legislation to other legislation or instruments or to titles of bodies or offices are not automatically updated as part of the program for the revision and publication of legislation and therefore may be obsolete. * Earlier versions of this Act (historical versions) are listed at the end of the legislative history. * For further information relating to the Act and subordinate legislation made under the Act see the Index of South Australian Statutes or www.legislation.sa.gov.au. Principal Act and amendments New entries appear in bold. Year No Title Assent Commencement 1993 24 Economic Development Act 1993 22.4.1993 1.5.1993 (Gazette 29.4.1993 p1476) 1999 33 Financial Sector Reform (South Australia) Act 1999 17.6.1999 Sch (item 18)--1.7.1999 being the date specified under s 3(16) of the Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 1999 of the Commonwealth as the transfer date for the purposes of that Act: s 2(2) 2009 84 Statutes Amendment (Public Sector Consequential Amendments) Act 2009 10.12.2009 Pt 50 (s 101)--1.2.2010 (Gazette 28.1.2010 p320) Provisions amended New entries appear in bold. Entries that relate to provisions that have been deleted appear in italics. Provision How varied Commencement Pt 1 s 2 omitted under Legislation Revision and Publication Act 2002 Pt 2 ss 12--14 deleted by 84/2009 s 101 1.2.2010 Pt 4 s 20 s 20(1) amended by 33/1999 Sch (item 18) 1.7.1999 Historical versions Reprint No 1--1.7.1999 ECONOMIC DEVELOPMENT ACT 1993 - NOTES Appendix--Divisional penalties and expiation fees At the date of publication of this version divisional penalties and expiation fees are, as provided by section 28A of the Acts Interpretation Act 1915, as follows: Division Maximum imprisonment Maximum fine Expiation fee 1 15 years $60 000 -- 2 10 years $40 000 -- 3 7 years $30 000 -- 4 4 years $15 000 -- 5 2 years $8 000 -- 6 1 year $4 000 $300 7 6 months $2 000 $200 8 3 months $1 000 $150 9 – $500 $100 10 – $200 $75 11 – $100 $50 12 – $50 $25 Note: This appendix is provided for convenience of reference only.