Commonwealth Numbered Acts

AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 No. 105 of 1978 - SECT 3

3. (1) In this Act, unless the contrary intention appears-

''acting Chairman'' means an acting Chairman of the Board appointed under
sub-section 19 (1);

''acting Deputy Chairman'' means an acting Deputy Chairman of the Board
appointed under sub-section 19 (2);

''acting Director'' means an acting Chairman, an acting Deputy Chairman and an
acting Director appointed under sub-section 19 (3);

''acting Managing Director'' means an acting Managing Director of the
Corporation appointed under sub-section 29 (1);

''appointed Director'' means the Chairman, the Deputy Chairman or a Director
referred to in paragraph 13 (1) (d);

''approved bank'' means a trading bank within the meaning of sub-section 5 (1)
of the Banking Act 1959 or another bank approved by the Treasurer for the
purposes of the provision in which the expression occurs;

''Australian company'' means a company incorporated or formed in Australia;

''Australian consortium'' means-

   (a)  an association of persons at least one of which is an Australian
        private organization; or

   (b)  an association consisting of the Corporation and-

        (i)    an Australian private organization; or

        (ii)   2 or more persons at least one of which is an
               Australian private organization;

''Australian private organization'' means-

   (a)  a person or partnership;

   (b)  an Australian company; or

   (c)  an Australian consortium, not being a consortium that includes the
        Corporation,

that carries on business in Australia;

''Board'' means the Australian Overseas Projects Corporation Board established
by section 11;

''Chairman'' means the Chairman of the Board;

''Corporation'' means the Australian Overseas Projects Corporation established
by section 5;

''Deputy Chairman'' means the Deputy Chairman of the Board;

''development project'' means a project by way of-

   (a)  the construction of works;

   (b)  the design, supply or installation of equipment or facilities; or

   (c)  the testing in the field of agricultural practices,
and includes any necessary preliminary studies, investigations or planning;

''Director'' means a Director of the Corporation;

''Managing Director'' means the Managing Director of the Corporation;

''overseas development project'' means a development project that is to be
carried out in a country other than Australia;

''private organization'' means a person or partnership or a company, and
includes a consortium of private organizations.

(2) For the purposes of this Act, the profits of the Corporation for a
financial year are the amount (if any) remaining after deducting from the
revenue received or receivable in respect of that financial year the
expenditure and provision for expenditure properly chargeable against that
revenue.