Commonwealth Numbered Acts

POSTAL SERVICES AMENDMENT ACT 1988 No. 126, 1988 - SECT 8

8. Section 10B of the Principal Act is repealed and the following sections are
substituted: Management of Commission's land and buildings

"10B. (1) It is the duty of the Commission to manage its land and buildings,
and to meet its requirements for land and buildings, in accordance with sound
commercial practice.

"(2) The Commission has, in addition to its other powers, power to do all
things necessary or convenient to be done for, or in connection with, the
performance of that duty and, in particular, may:

   (a)  purchase and otherwise acquire land and buildings that it may require;

   (b)  sell and otherwise dispose of land and buildings that it does not
        require;

   (c)  develop land and buildings to enable their more efficient utilisation;

   (d)  develop and lease land and buildings not immediately required by it;
        and

   (e)  develop land and buildings for the purpose of sale. Commission to
        notify Minister of significant business activities

"10C. (1) If the Commission, or a subsidiary of the Commission, proposes:

   (a)  to form, or participate in the formation of, a company;

   (b)  to enter into a partnership;

   (c)  to enter into a joint venture or an arrangement for the sharing of
        profits;

   (d)  to acquire a major shareholding in a company;

   (e)  to acquire a substantial business; or

   (f)  to undertake a significant new business activity; the Commission shall
        immediately give written notice of particulars of the proposed
        activity to the Minister.

"(2) The Minister may, by written notice given to the Commission, make
guidelines to be applied by the Commission in determining whether an activity
is an activity falling within paragraph (1) (d), (e) or (f).

"(3) For the purposes of this section, 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.

"(4) This section does not limit the operation of subsection 103 (2).".