Safety, Rehabilitation and Compensation Act 1988
Part VIII

AUSTRALIAN POSTAL CORPORATION

NOTICE OF EXTENSION AND VARIATION OF LICENCE

Notice No 6 of 2014

The Australian Postal Corporation, ABN 28 864 970 579 (the Licensee), is a Commonwealth authority for the purposes of Part VIII of the Safety, Rehabilitation and Compensation Act 1988 (the SRC Act).

The Safety, Rehabilitation and Compensation Commission (the Commission), acting under sections 103 and 104 of the SRC Act, granted a licence to the Australian Postal Corporation on 6 June 2003 with a commencement date of 1 July 2003 at 12.01am (Australian Eastern Standard Time) and a cessation date of midnight (Australian Eastern Standard Time) on 30 June 2006 (the Licence).

This grant was notified by Notice No.14 of 2003 in Commonwealth Gazette No. P7 on 1 July 2003.

The Licence was subsequently extended and/or varied by the Commission on:

• 11 June 2004 by Notice No. 8 of 2004, Commonwealth Gazette No. P4 on 30 June 2004;
• 5 June 2006 by Notice No. 5 of 2006, Commonwealth Gazette No. GN23 on 14 June 2006;
• 23 April 2007 by Notice No. 6 of 2007, Commonwealth Gazette No. GN17 on 2 May 2007;
• 18 June 2008 by Notice No. 11 of 2008, Commonwealth Gazette No. GN25 on 25 June 2008; and
• 21 June 2010 by Notice No. 9 of 2010, Commonwealth Gazette No. GN25 on 30 June 2010.

Prior to this extension, the Licence had a cessation time and date of midnight (Australian Eastern Standard Time) on 30 June 2014.

The Commission, acting under subsection 105(1) of the SRC Act, extends the term of the abovementioned Licence for the period commencing 1 July 2014 at 12:01am (Australian Eastern Standard Time) and a cessation time of midnight (Australian Eastern Standard Time) on 30 June 2018.

The Commission, acting under subsection 108D(2) of the SRC Act, varies the conditions of the abovementioned Licence as set out below.

Substitute “Occupational Health and Safety Act 1991 (OHS Act)” with “Work Health and Safety Act 2011 (WHS Act)” in clause 8 and substitute all subsequent references to the “OHS Act” and “OHS” with the “WHS Act” and “WHS” respectively.

Prudential Condition 4.2(c) is replaced by the following.

(c) obtained from a corporation that is authorised by the Australian Prudential Regulatory Authority (APRA) to carry on:

(i)                 banking business in Australia under the Banking Act 1959 (Cth) and has an issuer credit rating of or equivalent to a Standard and Poor’s AA- or better; or

(ii)               insurance business in Australia under the Insurance Act 1973 (Cth) and has an issuer credit rating of or equivalent to a Standard and Poor's AA- or better and a financial strength rating of or equivalent to a Standard and Poor’s AA- or better.

The variations take effect at 12:01 am (Australian Eastern Standard Time) on 1 July 2014.

Dated the 25th day of June 2014.

Barry Sherriff

Chairperson

Safety, Rehabilitation and Compensation Commission