Page 1965 - Week 06 - Thursday, 2 May 1991
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A SEAT BY THE HON CT..cDE HOLDING, IMP, MINISTER FORT t SE ARTS
AND TERRITORIES ON THE FORM A1 ION OF A COMDA.NY BY THE ACT
INSTITUTE OF TAFE TO SECTION 8(3) OF TIME ACT INSTITUTE E
OF TECHNICAL AND FURTHER EDUCATION ORDINANCE 1987
(N0.7 1 OF 1987)
On 22 December 1988 I approved the establishment within the ACT Institute of Technical and Further Education of a private company to conduct a range of entrepreneurial activities which are designed to generate funds for the Institute as wed as make TAFE services more widely available to the ACT community.
Under the ACT Institute of Technical and Further Education Ordinance 1987 (No. 71 of 1987), where the Institute forms a company, the Minister is required to prepare a statement setting out particulars of and reasons for its formation. This statement is to be laid before each House of Parliament within 15 sitting days of that House after the formation of the company takes place.
The company was originally incorporated on Z? November 1988 under the interim. name of BAN Pty Ltd. On 10 February 1989 the name of the company was changed to ACTAID Pty Ltd, assuming the name of the independent Trust which. has supported ACT TAFE for several years. This has the agreement of the trustees who have agreed that the new company take over the ongoing operations of the Trust.
The establishment of the company is consistent with the powers of the Institute as sioecTied in Section 7 (1)(j) of the ACT Institute of T Technical and Further Education Ordinance 198?. The Institute has a controlling interest in the company.
The formation of this private company will enable the Institute to pursue more effectively its objectives of being responsive to community needs while concurrently becoming more financially independent. ACTAID Pty Ltd will assist towards-achieving these objectives by
responding responding to atypical and/or one-off demands
• conducting projects requiring financial. human. or physical
resources not provided within the Institutes portfolio
• separating mainstream activities from those involving special
elements of risk, research. competition or accountability
• operating as the Institutes agent in marketing, and in joint
ventures with other companies
• managing individual projects involving staff and/or students of the
Institute
• providing specialised services interstate or overseas.
I have are angel for the incoming ACT Assembly to be informed about this development in the structure and operations of the ACT Institute of T_== .
1965
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