Note 40: Defined benefit superannuation plans
Within the economic entity various Commonwealth entities sponsor defined benefit superannuation plans. The accrued benefits
payable, net market value of plan assets available to pay benefits and vested benefits for each of these plans are as follows:
Commonwealth
Controlled Entity
Name of Plan
Airservices Australia
Av Super
Australian Postal
Corporation
Australia Post
Superannuation Scheme
Department of Defence
Military Superannuation and
Benefits Scheme (MSBS)(c)
129
Department of Finance
and Administration
Net market value
of plan assets
Net surplus
Vested
Benefits(b)
Date of the most recent financial
report of plan
2001
$m
2000
$m
2001
$m
2000
$m
2001
$m
2000
$m
2001
$m
2000
$m
422
404
508
460
86
56
448
442
Latest actuarial valuation was at
1 July 2000.
2,935
2,654
4,432
4,279
1,497
1,625
2,931
2,640
Latest actuarial valuation was at
30 June 2000.
5,000
5,000
1,070
973
(3,930)
(4,027)
6,100
5,468
The valuation of accrued benefits
was performed on 30 June 1999.
6,132
6,123 (39,668) (39,677) 55,300 54,300
The valuation of accrued benefits
for the CSS and PSS is as at
30 June 1999.
Commonwealth
Superannuation
Scheme (CSS)(c)
Public Sector
Superannuation
Scheme (PSS)(c)
Department of Foreign
Affairs and Trade
Accrued
benefits(a)
London Pension
Scheme
North American Pension
Scheme
45,800 45,800
9,200
9,200
4,561
4,162
(4,639)
(5,038) 15,300 13,900
17
14
19
17
2
3
16
13
29
24
-
-
(29)
(24)
29
22
Latest actuarial valuation was at
1 July 2000.
Latest actuarial valuation was at
1 July 2000.
Note 40: Defined benefit superannuation plans (continued)
Commonwealth
Controlled Entity
Name of Plan
Accrued
benefits(a)
Net market value
of plan assets
Net surplus
Vested
Benefits(b)
Date of the most recent financial
report of plan
2001
$m
2000
$m
2001
$m
2000
$m
2001
$m
2000
$m
2001
$m
2000
$m
London Pension Scheme
4
4
4
5
-
1
3
4
North American Pension
Scheme
3
2
-
-
(3)
(2)
3
2
Latest actuarial valuation was at
1 July 2000.
Latest actuarial valuation was at
30 June 2001.
Sydney Airports
Corporation
Australian Airports
Superannuation Scheme
28
26
29
25
1
(1)
27
24
Latest actuarial valuation was at
6 April 2001.
Reserve Bank of
Australia
Reserve Bank Officers'
Superannuation Fund
388
385
616
609
228
224
401
398
The details of the Reserve Bank
funds are as at 30 June 2001.
21
20
26
25
5
5
20
20
3,050
3,387
5,375
6,795
2,325
3,408
3,715
4,093
38
39
39
43
1
4
37
38
Department of
Immigration &
Multicultural Affairs
Reserve Bank of Australia/
UK Pension Scheme
130
Telstra Corporation
Limited
Total
Telstra superannuation
Scheme (TSS)
Pacific Access
Superannuation Fund
Latest actuarial valuation was at
30 June 2000.
Latest actuarial valuation was at
30 June 2001.
66,935 66,959 22,811 23,516 (44,124) (43,443) 84,330 81,364
(a) Accrued benefits are measured at the present value of estimated future cash payments to employees arising from membership of the plan up to the reporting date (or,
where stated, the date of the last accrual valuation).
(b) Vested Benefits are benefits which are not conditional upon continued membership of the plan (or any other factor other than resignation from the plan) and include
benefits which members were entitled to receive had they terminated their plan membership as at the reporting date.
(c) See over for details of partially funded defined benefit superannuation schemes.
Note 40: Defined benefit superannuation plans (continued)
Partially funded defined benefit superannuation schemes:
The accrued benefits for the CSS, PSS and MSBS are comprised of a funded component,
which will be met from the relevant plan's funds (that is, accumulated member
contributions and, where applicable, productivity contributions, plus interest) and an
unfunded component to be financed, by the Commonwealth, from the Consolidated
Revenue Fund, at the time the superannuation benefits become payable. The funded
and unfunded components for the accrued liabilities for these plans as at the date of
valuation is as follows:
Funded Component
Unfunded Component
2001
$m
2000
$m
9,900
50,100
9,900
50,100
60,000
60,000
Unfunded defined benefit superannuation schemes:
The Commonwealth also guarantees the following unfunded defined benefit
superannuation plans:

Defence Force Retirement and Death Benefits Scheme (DFRDB);

Defence Forces Retirement Benefits Scheme (DFRB); and

Parliamentary Contributory Superannuation Scheme (PCSS).
These plans have no assets to meet benefit payments. Instead, the plans are financed by
the Commonwealth out of the Consolidated Revenue Fund at the time benefits become
payable.
Further details on each plan can be found in the audited financial statements appended
to the Annual Reports of the entities, which are tabled in the Parliament.
131
Note 41: Special Public Monies held outside the Official Public Account
Details pertaining to Special Public Monies, that is, monies that are not held on account
of the Commonwealth or for the use or benefit of the Commonwealth, can be found in
the audited financial reports of individual Commonwealth controlled entities.
Special Public Monies held outside the Official Public Account are held by the
following Commonwealth controlled entities:
Commonwealth Controlled Entity
Description of Special Public Money
Account
Aboriginal and Torres Strait
Islander Commission
New South Wales Community
Infrastructure Trust Account
Australian Government Solicitor
Australian Securities and
Investments Commission
Balance
2001
$m
2000
$m
3
10
Solicitor trust accounts
22
21
Monies held under Part 9.7 of the
Corporations law
26
25
Australian Securities and
Investments Commission
Monies held under s786(2)(d) of the
Corporations law
42
40
Australian Securities and
Investments Commission
Monies held under s1284(1) of the
Corporations law
6
9
Australian Securities and
Investments Commission
Settlement monies held in trust
6
6
Comcare
Beneficiaries trust account
5
5
2
5
Commonwealth Scientific and
Private trust money - various
Industrial Research Organisation
research trusts
Federal Court of Australia
Investment of litigant's money
Health Insurance Commission
Compensation recoveries held in trust
Insolvency and Trustee Services
Australia
Trust moneys held on behalf of
bankrupt estates
Various Entities
Other trust monies held for various
purposes
Total special public monies
132
3
58
35
44
9
7
11
8
170
238
Note 42: Taxes collected on behalf of State and Territory Governments
Goods and Services Tax (GST)
In regard to GST revenue, AAS31 and other relevant accounting standards would
suggest the gross amount of GST be included in the Commonwealth’s Financial
Statements. However, the clear policy intent of the Intergovernmental Agreement on
the Reform of Commonwealth-State Financial Relations is that the GST is a State tax
collected by the Commonwealth in an agency capacity. Therefore, accrued GST
revenues and associated payments to the States and Territories are not disclosed in
these statements.
If the gross amount of GST had been reported in the Commonwealth’s Financial
Statements, taxation revenue would be increased by $23,854 million, grant expenses
and penalty remission expenses would be increased by $23,787 million and $3 million
respectively and the operating result would be improved by $64 million. As such,
consolidated net assets as at 30 June 2001 would be improved by $64 million.
The following table provides a condensed Statement of Financial Performance which
shows the impact of including GST on the Commonwealth’s revenues and expenses:
Revenues from ordinary activities
Taxation revenues
Non-taxation revenues
Total revenues from ordinary activities
Statement
of Financial
Performance
$m
Gross GST
Included
$m
$m
150,299
47,934
198,233
174,153
47,934
222,087
23,854
23,854
68,639
111,025
10,306
189,970
68,641
134,802
10,317
213,760
2
23,777
11
23,790
Difference
Expenses from ordinary activities
Goods and services
Subsidies, benefits and grants
Borrowing costs expense
Value of assets sold through the asset sales program
Total expenses from ordinary activities
Share of net result from associates and joint
ventures accounted for using the equity method
Net result
(171)
(171)
-
8,092
8,156
64
Net result attributable to outside equity interests
2,028
2,028
-
Net result attributable to the Commonwealth
6,064
6,128
64
2,376
2,376
-
16
2,760
16
2,760
-
Total revenues, expenses and valuation
adjustments attributable to the Commonwealth
and recognised directly in equity
5,152
5,152
-
Total changes in equity other than those resulting
from transactions with owners as owners
11,216
11,280
64
Net credit (debit) to asset revaluation reserve
Net exchange difference on translation of
financial report of self-sustaining foreign
operations
Other non-owner related movements in equity
133
Note 42: Taxes collected on behalf of State and Territory Governments
(continued)
Revenue Replacement Payments
The Commonwealth, up to 30 June 2000, collected a number of revenue replacement
taxes as an agent for the States and Territories. These taxes have replaced
constitutionally invalid business franchise fees and are passed directly by the
Commonwealth to the State and Territory Governments, with an adjustment for
administration costs. Reflecting the Commonwealth's agency role in the collection of
these taxes, they have not been recognised in these financial statements.
2001
$m
2000
$m
Revenue replacement taxes collected by the Commonwealth
as an agent for the States and Territories
435
7,302
Transfers to the States and Territories in
relation to revenue replacement payments
435
6,929
-
373
Accrued liability at 30 June due to adjustments
Note 43: Audit expenses
With the exception of a small number of entities, audit services within the reporting
entity are provided by the Auditor-General. The cost of these services which include
performance
and
financial
statement
audits,
totalled
$48 million
(1999-2000: $45 million).
Note 44: Employee share schemes
Telstra Corporation Limited (Telstra) has five ownership-based remuneration schemes.
These are:

the Telstra Employee Share Ownership Plan (TESOP97);

the Telstra Employee Share Ownership Plan II (TESOP99);

Growthshare;

Directshare; and

Ownshare
A summary of key aspects of these plans are provided below. Full details of the plans
can be found in the 2000-01 audited financial report of Telstra.
134
Note 44: Employee share schemes (continued)
(a)
TESOP99 and TESOP97
The TESOP plans were an invitation to eligible employees to acquire shares in the
company. The shares sold to eligible employees were ordinary share capital of Telstra.
Shares were offered to all eligible employees. For the TESOP97 scheme, this included
employees who, on 20 September 1997, were employees of Telstra or one of its
subsidiaries, but excluding certain part-time, fixed term, casual and contract
employees, certain employees on leave without pay and those employees living outside
Australia. The same eligibility criteria were applied for the TESOP99 scheme for eligible
employees as at 27 August 1999.
Eligible employees were entitled to participate in both an initial share offer and an
employee loyalty share offer. Under the initial offer, the Commonwealth guaranteed
that each eligible employee would be able to purchase up to 2,000 shares (400 for
TESOP99). For every four shares purchased under this offer, the eligible employee
would receive one extra share free, up to a maximum of 500 extra shares (200 for
TESOP99). Eligible employees could elect to purchase shares under the initial offer with
their own funds, or use an interest-free loan provided by Telstra. Eligible employees
who purchased shares in the public offer with their own funds were entitled to receive
one loyalty share, at no additional cost, for every ten shares purchased in the public
offer, to a maximum of 200 loyalty shares (a maximum of 80 for TESOP99).
Further details can be found in the following tables.
(b)
Telstra Growthshare Trust
Under the Growthshare Trust, Telstra operates the Growthshare, Directshare and
Ownshare plans. The trustee is Telstra Growthshare Pty Ltd, a 100 per cent Telstra
owned company. Under these plans, Telstra provides loans to the trustee to fund the
allocation of shares.
Growthshare
The Growthshare plan, initiated in the 1999-2000 financial year, is a board-determined
allocation of share options and restricted shares to selected executives as a part of the
executives' reward scheme. The option or restricted share represents a right to acquire a
share in Telstra.
Options or restricted shares may only be exercised once a performance hurdle is
satisfied. The performance hurdle is that the average Telstra Accumulation Index must
exceed the average All Industrials Accumulation Index for thirty consecutive days
within a specified period. The specified period differs for the three separate offers
under the Growthshare plan.
Note 44: Employee share schemes (continued)
135
Once the performance hurdle is met, options can be exercised, by paying the exercise
price, at any time before the expiry date, at which time they will lapse.
The restricted shares can be exercised at any time after the performance hurdle is met,
up until the expiry date, at which time the share will lapse. When exercised, they will be
converted into restricted trust shares held by Telstra Growthshare Trust. They may be
transferred to the executive at a cost of $1 in total for all shares the executive has been
allocated.
Further details can be found in the following tables.
Directshare
Under the Directshare plan, which began in the 2000-01 financial year, non-executive
directors may be provided part of their fees in Telstra shares. Directors will receive
20 per cent of their remuneration by way of directshares.
Shares under this plan are held in trust for a restriction period, being five years from
date of allocation or until the director ceases to be a director or ceases employment with
a company in the Telstra Group. The shares are then transferred to the participating
director. The participating director is not able to trade in these shares until the transfer
has taken place, but retains the beneficial interest (dividends, voting rights, bonuses
and rights issues) during the restriction period.
Further details can be found in the following tables.
Ownshare
The Ownshare plan was initiated in the 2000-01 financial year. Under the plan, certain
eligible employees may indicate a preference to acquire Telstra shares as part of their
remuneration.
Shares allocated under the plan are held in trust for a restriction period of three to five
years (as elected by the eligible employee), or until the employee ceases employment
with the Telstra Group. The participant retains the beneficial interest (dividends, voting
rights, bonuses and rights issues) in the shares until they are transferred at the end of
the restriction period.
Further details can be found in the following tables.
136
Note 44: Employee share schemes (continued)
The details of these employee share plans for the year ended 30 June 2001 is shown in
the following table.
T e ls t ra E m plo ye e S ha re O wne rs hip P la ns
Date used to determine number o f eligible emplo yees
Date the plan started
Number o f emplo yees eligible to participate
P rice paid by emplo yee - first instalment
T ESOP 99
T ESOP 97
27 A ugust 1999
20 September 1997
16 Octo ber 1999
15 No vember 1997
53,900
64,309
(16 Octo ber 1999) $ 4.50
(15 No vember 1997) $ 1.95
(2 No vember 2000) $ 2.90
(17 No vember 1998) $ 1.35
$ 7.40
$ 3.30
400
2,000
o ne fo r every fo ur guaranteed
o ne fo r every fo ur shares up
purchased up to a limit o f 200
to a limit o f 500
16 Octo ber 2002
15 No vember 2000
P rice paid/payable by emplo yee - seco nd instalment
To tal price paid/payable by emplo yee and market
price o n date o f issue
Number o f shares that co uld be purchased with
interest free lo an
Number o f extra shares received by each eligible
emplo yee
Date emplo yees have full o wnership o f the lo an and
extra shares
Number o f emplo yees who purchased lo an shares
To tal number o f lo an shares initially purchased
To tal number o f extra shares initially acquired
42,439
55,748
16,939,000
109,979,100
n/a
27,494,775
21,424
2,282
-
3,776,732
3,903,314
944,183
relating to lo an shares
Number o f emplo yees using their o wn funds to buy
shares and received extra shares
Number o f shares initially purchased with
emplo yee's o wn funds
Number o f extra shares initially acquired by
emplo yees with o wn funds
To tal market value o f shares at issue date
(including extra shares)
To tal initial lo an made to emplo yees
$ 93,790,413 (1st instalment)
$ 277,279,841 (1st instalment)
$ 58,832,889 (2nd instalment)
$ 181,936,265 (2nd instalment)
$ 76,225,500 (1st instalment)
$ 221,823,872 (1st instalment)
$ 48,556,440 (2nd instalment)
$ 144,401,940 (2nd instalment)
$ 42,439
$ 55,748
Lo an disco unt paid o n behalf o f emplo yees
($ 1 per lo an)
Number o f Co mmo nwealth lo yalty share available to
each eligible emplo yee at no additio nal co st
o ne fo r every 10 shares
o ne fo r every 10 shares
purchased in the Co mmo nwealth
purchased in the public o ffer
co mpo nent limited to 80
limited to 200
17,138
21,761
(shares need to be held fo r 12 mo nths to qualify)
Number o f emplo yees who received Co mmo nwealth
lo yalty shares
Number o f lo yalty shares issued
M arket value o f Co mmo nwealth lo yalty shares issued
1,243,305
3,162,222
$ 7,696,058 ($ 6.19 per share)
$ 20,363,290 ($ 6.46 per share)
Remaining emplo yees with lo an shares
39,247
30,024
Remaining number o f lo an shares
15,666,400
59,378,500
Remaining number o f extra shares
3,190,823
14,844,625
137
Note 44: Employee share schemes (continued)
G ro wt hs ha re 2 0 0 0
O pt io ns
G ro wt hs ha re 2 0 0 0
R e s t ric t e d S ha re s
45
45
13 September 1999
13 September 1999
between 13 September 2002
between 13 September 2002
and 13 September 2004
and 13 September 2004
T e ls t ra G ro wt hs ha re 2 0 0 0
Number o f executives who were allo cated o ptio ns
and restricted shares
Effective co mmencement date o f o ptio ns and
restricted shares
P erfo rmance hurdle perio d - ie o ver what time
perio d executives have to satisfy perfo rmance
hurdle to be eligible fo r shares
Number o f o ptio ns and restricted shares issued
Exercise price
3,370,000
573,500
$ 8.02 per o ptio n
$ 1 in to tal per ho lding as lo ng
as perfo rmance hurdle is met
M arket value o f shares o n allo catio n date
Exercise date (o nce perfo rmance hurdle is met)
Remaining executives with Gro wthshare 2000
$ 8.02
$ 8.02
any time befo re
13 September 2009
any time befo re
13 September 2004
30
30
2,256,000
388,500
G ro wt hs ha re 2 0 0 1
O pt io ns
G ro wt hs ha re 2 0 0 1
R e s t ric t e d S ha re s
113
112
8 September 2000
8 September 2000
between 8 September 2003
between 8 September 2003
and 8 September 2005
and 8 September 2005
o ptio ns and restriced shares
Number o f o ptio ns and restricted shares o utstanding
T e ls t ra G ro wt hs ha re 2 0 0 1
( S e pt e m be r 2 0 0 0 o f f e r)
Number o f executives who were allo cated o ptio ns
and restricted shares
Effective allo catio n date o f o ptio ns and
restricted shares
P erfo rmance hurdle perio d - ie o ver what time
perio d executives have to satisfy perfo rmance
hurdle to be eligible fo r shares
Number o f o ptio ns and restricted shares issued
Exercise price
4,684,200
961,900
$ 6.28 per o ptio n
$ 1 in to tal per ho lding as lo ng
as perfo rmance hurdle is met
M arket value o f shares o n allo catio n date
Exercise date (o nce perfo rmance hurdle is met)
138
$ 6.28
$ 6.28
befo re 8 September 2010
befo re 8 September 2005
Note 44: Employee share schemes (continued)
T e ls t ra G ro wt hs ha re 2 0 0 1
( M a rc h 2 0 0 1 o f f e r)
Number o f executives who were allo cated o ptio ns
G ro wt hs ha re 2 0 0 1
O pt io ns
G ro wt hs ha re 2 0 0 1
R e s t ric t e d S ha re s
2
2
16 M arch 2001
16 M arch 2001
between 16 M arch 2004
between 16 M arch 2004
and 16 M arch 2006
and 16 M arch 2006
and restricted shares
Effective allo catio n date o f o ptio ns and
restricted shares
P erfo rmance hurdle perio d - ie o ver what time
perio d executives have to satisfy perfo rmance
hurdle to be eligible fo r shares
Number o f o ptio ns and restricted shares issued
Exercise price
168,710
43,871
$ 6.55 per o ptio n
$ 1 in to tal per ho lding as lo ng
as perfo rmance hurdle is met
M arket value o f shares o n allo catio n date
Exercise date (o nce perfo rmance hurdle is met)
Remaining executives with Gro wthshare 2001 o ptio ns
$ 6.55
$ 6.55
befo re 16 M arch 2011
befo re 16 M arch 2006
109
108
4,562,210
945,617
D ire c t s ha re
E quit y P la n
O wns ha re
E quit y P la n
11
4,405
and restriced shares (inclusive o f bo th o ffers)
Number o f o ptio ns and restricted shares o utstanding
D ire c t s ha re s a nd O wns ha re s
( S e pt e m be r 2 0 0 0 a llo c a t io n)
Number o f eligible no n-executive directo rs and
emplo yees
Number o f participants in the plan
A llo catio n date o f shares
Number o f shares allo cated
M arket value o f shares o n allo catio n date
To tal market value o f shares o n allo catio n date
D ire c t s ha re s a nd O wns ha re s
( M a rc h 2 0 0 1 a llo c a t io n)
Number o f eligible no n-executive directo rs and
11
306
15 September 2000
15 September 2000
13,426
373,557
$ 6.21
$ 6.21
$ 83,375
$ 2,319,789
D ire c t s ha re
E quit y P la n
O wns ha re
E quit y P la n
10
(a)
emplo yees
Number o f participants in the plan
A llo catio n date o f shares
Number o f shares allo cated
M arket value o f shares o n allo catio n date
To tal market value o f shares o n allo catio n date
Remaining emplo yees with Directshares and
10
(a)
19 M arch 2001
(a)
14,771
(a)
$ 6.55
(a)
$ 96,750
(a)
12
294
27,324
349,553
Ownshares (inclusive o f bo th o ffers)
Number o f Directshares and Ownshares o utstanding
(a) No allocation of Ownshares was made in March 2001.
139
Note 44: Employee share schemes (continued)
(c)
Keycorp Limited employee share plans
Telstra holds a 50.94 per cent controlling interest in Keycorp Limited (Keycorp).
Keycorp operates an employee share plan, established in the 1991-1992 financial year.
The Keycorp Share Ownership Plan (KESOP) operates through a special purpose
unlisted public company.
All Keycorp employees are eligible to subscribe for shares in the KESOP plan, which are
acquired by the plan company at the prevailing open market share price. These shares
are held for the benefit of, and in the name of, the participating employees.
In the 1996-97 financial year, Keycorp shareholders approved the establishment of a
share option incentive plan for eligible employees. Under the plan, the price payable for
options is determined as the average market price for Keycorp shares traded on the
ASX for the five days preceding the date of the offer of the options.
The aggregate number of options and shares issued under the terms of the KESOP and
option incentive plans over a five-year rolling period is limited to 15 per cent of the
number of Keycorp shares on issue. As at 30 June 2001 the aggregate level was
1.2 per cent.
Further details can be found in the following table.
Ke yc o rp Lim it e d e m plo ye e s ha re pla ns
Number o f eligible emplo yees
Number o f participants in the plan
A llo catio n date o f shares
Number o f shares and o ptio ns allo cated during
S ha re
O wne rs hip P la n
O pt io n
Inc e nt iv e P la n
294
294
6
n/a
vario us
vario us
5,335
200,000
repo rting perio d (b)
Number o f o ptio ns lapsed during repo rting perio d (b)
Number o f shares and o ptio ns o utstanding
To tal market value o f shares o utstanding
n/a
144,000
24,024
897,800
$ 55,495 ($ 2.31 per share)
n/a
(b) Comprising the six month period since Keycorp Limited was acquired by Telstra.
140
Note 45: List of Commonwealth entities
Controlled entities
Agriculture, Fisheries and Forestry Portfolio
General Government
Australian Fisheries Management Authority
Australian Pork Corporation
Australian Wine and Brandy Corporation
Cotton Research and Development Corporation
Dairy Adjustment Authority
Dairy Research and Development Corporation
Department of Agriculture, Fisheries and Forestry Australia
Fisheries Research and Development Corporation
Forest and Wood Products Research and Development Corporation
Grains Research and Development Corporation
Grape and Wine Research and Development Corporation
Land and Water Resources Research and Development Corporation
National Registration Authority for Agricultural and Veterinary Chemicals
Pig Research and Development Corporation
Rural Industries Research and Development Corporation
Sugar Research and Development Corporation
Tobacco Research and Development Corporation
Wheat Export Authority
Public Non-financial Corporations
Australian Dairy Corporation
Attorney-General’s Portfolio
General Government
Administrative Appeals Tribunal
Attorney-General's Department
Australasian Centre for Policing Research
Australian Bureau of Criminal Intelligence
Australian Customs Service
Australian Federal Police
Australian Institute of Criminology
Australian Law Reform Commission
Australian Security Intelligence Organisation
Australian Transaction Reports and Analysis Centre (AUSTRAC)
Criminology Research Council
Family Court of Australia
Federal Court of Australia
141
Note 45: List of Commonwealth entities (continued)
Attorney-General’s Portfolio (continued)
General Government (continued)
Federal Magistrates Service
High Court of Australia
Human Rights and Equal Opportunity Commission
Insolvency and Trustee Service Australia
National Crime Authority
National Native Title Tribunal
Office of Film and Literature Classification (including Classification Board
and Classification Review Board)
Office of Parliamentary Counsel
Office of the Director of Public Prosecutions
Office of the Federal Privacy Commissioner
Public Non-financial Corporations
Australian Government Solicitor
Communications, Information Technology and the Arts Portfolio
General Government
Australia Business Arts Foundations
Australia Council
Australian Broadcasting Authority
Australian Broadcasting Corporation
Australian Communications Authority
Australian Film Commission
Australian Film, Television and Radio School
Australian National Maritime Museum
Bundanon Trust (company limited by guarantee)
Department of Communications, Information Technology and the Arts
Film Australia Limited
National Archives of Australia
National Australia Day Council Limited (by guarantee)
National Gallery of Australia
National Library of Australia
National Museum of Australia
Special Broadcasting Service Corporation
Public Financial Corporations
Australian Film Finance Corporation Limited
142
Note 45: List of Commonwealth entities (continued)
Communications, Information Technology and the Arts Portfolio (continued)
Public Non-financial Corporations
Australian Postal Corporation
Telstra Corporation Limited1
Defence Portfolio
General Government
Army and Air Force Canteen Service
Australian Military Forces Relief Trust Fund
Defence Housing Authority
Department of Defence
Royal Australian Air Force Veterans' Residences Trust Fund
Royal Australian Air Force Welfare Trust Fund
Royal Australian Navy Relief Trust Fund
Education, Training and Youth Affairs Portfolio
General Government
Australian National Training Authority
Department of Education, Training and Youth Affairs
Employment, Workplace Relations and Small Business Portfolio
General Government
Australian Industrial Registry
COMCARE Australia
Department of Employment, Workplace Relations and Small Business
Equal Opportunity for Women in the Workplace Agency
National Occupational Health and Safety Commission
Public Financial Corporations
Coal Mining Industry (Long Service Leave Funding) Corporation
Environment and Heritage Portfolio
General Government
Australian Greenhouse Office
Australian Heritage Commission
Department of Environment and Heritage
Director of National Parks
Great Barrier Reef Marine Park Authority
National Oceans Office
1
Telstra Corporation is 50.1 per cent Commonwealth Government owned.
143
Note 45: List of Commonwealth entities (continued)
Family and Community Services Portfolio
General Government
Australian Institute of Family Studies
Centrelink (Commonwealth Service Delivery Agency)
Department of Family and Community Services
Finance and Administration Portfolio
General Government
Australian Electoral Commission
Commonwealth Grants Commission
Commonwealth Superannuation Administration
Department of Finance and Administration
Office of Asset Sales and IT Outsourcing
Public Non-financial Corporations
Australian Submarine Corporation Pty Limited
Bankstown Airport Limited
Camden Airport Limited
Comland Limited
Employment National
Essendon Airport Limited
Hoxton Park Airport Limited
Sydney Airports Corporation Limited
Foreign Affairs and Trade Portfolio
General Government
Australia-Japan Foundation
Australian Agency for International Development
Australian Centre for International Agricultural Research
Australian Secret Intelligence Service
Australian Trade Commission
Department of Foreign Affairs and Trade
Public Financial Corporations
Export Finance and Insurance Corporation
144
Note 45: List of Commonwealth entities (continued)
Health and Aged Care Portfolio
General Government
Aged Care Standards and Accreditation Agency Limited
Australia New Zealand Food Authority
Australian Institute of Health and Welfare
Australian Radiation Protection and Nuclear Safety Agency
Department of Health and Aged Care
Health Insurance Commission
Private Health Insurance Administration Council
Private Health Insurance Ombudsman
Professional Services Review
Public Financial Corporations
General Practice Education and Training Limited
Medibank Private Limited
National Institute of Clinical Studies Australia Ltd
Public Non-financial Corporations
Australian Hearing
Health Services Australia Limited
Immigration and Multicultural Affairs Portfolio
General Government
Department of Immigration and Multicultural Affairs
Migration Review Tribunal
Refugee Review Tribunal
Industry, Science and Resources Portfolio
General Government
Australian Geological Survey Organisation
Australian Institute of Marine Science
Australian Nuclear Science and Technology Organisation
Australian Sports Commission
Australian Sports Drug Agency
Australian Tourist Commission
Commonwealth Scientific and Industrial Research Organisation
Department of Industry, Science and Resources
IP Australia
National Standards Commission
145
Note 45: List of Commonwealth entities (continued)
Industry, Science and Resources Portfolio (continued)
Public Financial Corporations
Australian Industry Development Corporation
Public Non-financial Corporations
Australian Marine Science and Technology Limited (by guarantee)
Australian Technology Group Pty Limited
Snowy Mountains Hydro-electric Authority
Prime Minister and Cabinet Portfolio
General Government
Australian National Audit Office
Department of Prime Minister and Cabinet
Office of Inspector General of Intelligence and Security
Office of National Assessments
Office of the Commonwealth Ombudsman
Office of the Official Secretary to the Governor General
Public Service and Merit Protection Commission
Reconciliation and Aboriginal and Torres Strait Islander Affairs Portfolio
General Government
Aboriginal and Torres Strait Islander Commission
Aboriginal and Torres Strait Islander Land Fund
Aboriginal Hostels Limited (by guarantee)
Australian Institute of Aboriginal and Torres Strait Islander Studies
Department of Reconciliation and Aboriginal and Torres Strait Islander
Affairs
Indigenous Business Australia
Indigenous Land Corporation
Torres Strait Regional Authority
Transport and Regional Services Portfolio
General Government
Australian Maritime Safety Authority
Civil Aviation Safety Authority
Department of Transport and Regional Services
Maritime Industry Finance Company
National Capital Authority
Stevedoring Industry Finance Committee
146
Note 45: List of Commonwealth entities (continued)
Transport and Regional Services Portfolio (continued)
Public Non-financial Corporations
Airservices Australia
Albury-Wodonga Development Corporation
Australian Rail Track Corporation Limited
Australian River Co. Ltd
National Railway Corporation Limited 2
Treasury Portolio
General Government
Australian Accounting Standards Board
Australian Bureau of Statistics
Australian Competition and Consumer Commission
Australian Office of Financial Management
Australian Prudential Regulation Authority
Australian Securities and Investment Commission
Australian Taxation Office
Companies and Securities Advisory Committee
Department of the Treasury
National Competition Council
Productivity Commission
Public Financial Corporations
Reserve Bank of Australia
Veterans’ Affairs Portfolio
General Government
Department of Veterans' Affairs (including Defence Service Homes
Insurance Scheme)
Australian War Memorial
Parliamentary Departments
General Government
Department of the House of Representatives
Department of the Parliamentary Library
Department of the Parliamentary Reporting Staff
Department of the Senate
2
National Railway Corporation Limited is 73 per cent Commonwealth
Government owned.
147
Note 45: List of Commonwealth entities (continued)
Parliamentary Departments (continued)
Joint House Department
Other investments
Australian Maritime College
Australian National University
Anglo-Australian Telescope Board
Beyond Blue Limited
IIF BioVentures Pty Ltd
IIF Foundation Pty Ltd
IIF Newport Pty Ltd
Joint Coal Board
Law Courts Ltd
Murray-Darling Basin Commission
National Road Transport Commission
NEPC Service Corporation
Entity changes during 2000-2001
Entities no longer consolidated
Australian Dried Fruits Board
Australian Horticultural Corporation
Australian National Railways Commission
Australian Wool Research and Promotion Organisation
Federal Airports Corporation
Horticultural Research and Development Corporation
Entities newly controlled/ established in 2000-2001
Australian Accounting Standards Board
Australian Submarine Corporation Pty Limited
Bankstown Airport Limited (formerly consolidated into Sydney Airport
Corporation)
Beyond Blue Limited
Camden Airport Limited (formerly consolidated into Sydney Airport
Corporation)
Dairy Adjustment Authority
Department of Reconciliation and Aboriginal and Torres Strait Islander
Affairs (formerly consolidated into Department of the Prime Minister
and Cabinet)
Federal Magistrates Service
General Practice Education and Training Limited
Hoxton Park Airport Limited (formerly consolidated into Sydney Airport
Corporation)
IIF BioVentures Pty Ltd
148
IIF Foundation Pty Ltd
Note 45: List of Commonwealth entities (continued)
IIF Newport Pty Ltd
Insolvency and Trustee Service Australia
Law Courts Ltd
National Archives of Australia (formerly consolidated into Department of
Communications, Information Technology and the Arts)
National Institute of Clinical Studies Australia Ltd
Office of the Federal Privacy Commissioner
149