New South Wales Consolidated Acts New South Wales Consolidated Acts(cf State Owned Corporations Act 1989 , section 20ZC)
(1) Section 28 has effect in relation to the Corporation subject to any restrictions on the Corporation’s powers expressly imposed by or under this or any other Act.
(2) Section 28 also has effect in relation to the Corporation subject to any restrictions expressly imposed by:(a) the Corporation’s constitution, or(b) any relevant statement of corporate intent of the Corporation, or(c) any relevant directions, notifications or approvals given to the Corporation by the voting shareholders.
(3) If the Corporation:(a) exercises a power contrary to a restriction mentioned in subsection (1) or (2), or(b) does an act otherwise than in pursuance of its objects or functions set out in this Act,the Corporation contravenes this subsection.
(4) The exercise of the power mentioned in subsection (3) (a), or the act mentioned in subsection (3) (b), is not invalid merely because of the contravention.
(5) An officer of the Corporation who is involved in the contravention contravenes this subsection.
(6) An act of the officer is not invalid merely because, by doing the act, the officer contravenes subsection (5).
(7) The Corporation or officer of the Corporation is not guilty of an offence merely because of the relevant contravention.
(8) The fact that:(a) by exercising the power mentioned in subsection (3) (a), or doing the act as mentioned in subsection (3) (b), the Corporation contravened, or would contravene, subsection (3), or(b) by doing a particular act, an officer of the Corporation contravened, or would contravene, subsection (5),may be asserted or relied on only in proceedings between the voting shareholders and officers of the Corporation.