New South Wales Consolidated Acts

FREIGHT RAIL CORPORATION (SALE) ACT 2001 - SECT 24

24 Ministerial control of sale company

(1) The board of directors of the sale company is, in the exercise of its functions, subject to the control and direction of the Treasurer.

(2) Neither the enactment of this section nor the exercise of the Treasurer’s powers under this section constitutes the Treasurer as a director of the sale company or a person who participates in the management of the sale company.

(3) A director of the sale company is not personally liable in any civil or criminal proceedings (including proceedings for a breach of any duty under the Corporations Law ) for anything done or omitted for the purpose only of complying with a direction of the Treasurer under this section.