New South Wales Consolidated Acts

CENTRAL COAST WATER CORPORATION ACT 2006 - SECT 9

9 Constitution of subsidiaries

(cf State Owned Corporations Act 1989 , section 20R)

(1) The voting shareholders are responsible for ensuring that the constitution of every subsidiary at all times contains provisions to the effect of:

(a) those set out in Schedule 2, and

(b) such others as are prescribed by the regulations.

(2) The provisions of subsection (1) are declared to be Corporations legislation displacement provisions for the purposes of section 5G of the Corporations Act 2001 of the Commonwealth in relation to the provisions of the Corporations legislation generally.

Note: Section 5G (9) of the Corporations Act 2001 of the Commonwealth provides that if a provision of a law of a State or Territory provides that a provision is included, or taken to be included, in a company’s constitution, the provision is included in the company’s constitution even though the procedures and other requirements of that Act are not complied with in relation to the provision.
However, section 5G (3) of the Corporations Act 2001 of the Commonwealth provides that section 5G will only apply to a provision of a law of a State or Territory enacted after the commencement of that Act if a law of the State or Territory declares the provision to be a Corporations legislation displacement provision for the purposes of that section.

(3) The constitution of a subsidiary may contain other provisions, so long as they are not inconsistent with the provisions referred to in subsection (1) or any other provisions of this Act or the regulations.