Commonwealth Consolidated Acts

AUSTRALIAN INDUSTRY DEVELOPMENT CORPORATION ACT 1970 - SECT 4

             (1)  In this Act, unless the contrary intention appears:

"Australia" includes the external Territories.

"Australian company" means a company incorporated or formed in Australia.

"Chair" means the Chair of the Board.

"Chief Executive" means the Chief Executive of the Corporation.

"company" includes any corporation and any unincorporated body or association of persons.

"core functions" , in relation to the Corporation, means the functions referred to in paragraphs 6(1)(a) and (b).

"designated time" has the meaning given by section 34W.

"Director" means a member of the Board.

"eligible subsidiary" , in relation to the Corporation, means a subsidiary of the Corporation other than:

                     (a)  the receiving subsidiary; or

                     (b)  a subsidiary of the receiving subsidiary.

"goods" includes:

                     (a)  minerals, whether under or attached to land or not;

                     (b)  water; and

                     (c)  gas and electricity.

"minerals" includes petroleum and natural gas.

"ordinary Director" means a Director referred to in paragraph 11(1)(c).

"receiving subsidiary" means the company that is nominated under subsection 29B(1).

"shares" , in relation to a company, means shares in the capital of the company and includes stock.

"subsidiary" has the meaning given by subsection (3).

"the Board" means the Board of Directors of the Corporation.

"the Corporation" means the Australian Industry Development Corporation established by this Act.

             (2)  A reference in this Act, in relation to any time, to the amount of the capital of the Corporation shall be read as a reference to the total of the amounts paid to the Corporation before that time under section 24.

             (3)  For the purposes of this Act, the question whether a body corporate is a subsidiary of another body corporate shall be determined in the same manner as the question whether a corporation is a subsidiary of another corporation is determined under the Companies Act 1981 .