Western Australian Consolidated Acts Western Australian Consolidated Acts [(1) deleted]
(2) The Board must
ensure that the constitution of every subsidiary of the Board 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 Part; and
(c) is
not amended in a way that makes it inconsistent with this Part.
(3) A director or a
member of the staff of the Board may with the approval of the Board become a
director of a company that is or is to be a subsidiary of the Board.
(4) The provisions of
this Part prevail to the extent of any inconsistency with the constitution of
any subsidiary of the Board.
(5)
Neither —
(a)
subsection (2); nor
(b)
provisions referred to in subsection (2)(a) included in the constitution
of a subsidiary,
make the Board or the
Minister a director of a subsidiary for the purposes of the Corporations Act.
(6)
Subsections (2) to (5) 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 7B inserted by No. 18 of 2006
s. 9; amended by No. 25 of 2007 s. 6(5) and 7.]