Commonwealth Consolidated Acts

AUSTRALIAN INDUSTRY DEVELOPMENT CORPORATION ACT 1970 - SECT 5

             (1)  For the purposes of this Act, there is hereby established a body by the name of the Australian Industry Development Corporation.

             (2)  The Corporation:

                     (a)  is a body corporate;

                     (b)  shall have a seal;

                     (c)  may acquire, hold and dispose of real and personal property; and

                     (d)  may sue and be sued.

Note:          Subject to section 5A, the Commonwealth Authorities and Companies Act 1997 applies to the Corporation. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment and conduct of officers.

             (3)  All courts, judges and persons acting judicially shall take judicial notice of the imprint of the seal of the Corporation appearing on a document and shall presume that the document was duly sealed.