RACING AND WAGERING WESTERN AUSTRALIA ACT 2003 - SECT 32
RACING AND WAGERING WESTERN AUSTRALIA ACT 2003 - SECT 32
32 . Subsidiaries
(1) RWWA must advise
the Minister before it acquires a subsidiary or enters into any transaction
that will result in the acquisition of a subsidiary.
(2) RWWA must ensure
that the constitution of every subsidiary of RWWA that under a written law or
the Corporations Act is required to have a constitution —
(a)
contains provisions to the effect of those required by Schedule 3; and
(b) is
consistent with this Act; and
(c) is
not amended in a way that is inconsistent with this Act.
(3) RWWA must, to the
maximum extent practicable, ensure that every subsidiary of RWWA complies with
its constitution and with this Act.
(4) The provisions of
this Act prevail to the extent of any inconsistency with the constitution of
any subsidiary of RWWA.
(5) A director, the
CEO or a member of staff may with the approval of RWWA become —
(a) a
member of the management committee of an incorporated association; or
(b) a
director of a company,
that is or is to be a
subsidiary of RWWA and may represent the interests of RWWA on that committee
or the board of directors of that company.
(6) Neither
subsections (2) and (3), nor provisions referred to in subsection (2)(a)
included in the constitution of a subsidiary, make RWWA or the Minister a
director of a subsidiary for the purposes of the Corporations Act.
(7) This section and
Schedule 3 are declared to be Corporations legislation displacement provisions
for the purposes of section 5G of the Corporations Act in relation to the
Corporations legislation as defined in section 9 of the Corporations Act.
[Section 32 amended: No. 30 of 2015 s. 227.]