Document ID: chunk:federal_register_of_legislation:C2024A00104:section:161
Version: federal_register_of_legislation:C2024A00104
Segment Type: section
Provision Reference: s 161
Character Range: 290260–291741

161  Constitution of registered providers that are wholly‑owned subsidiary corporations

Corporations under the Corporations Act 2001
 (1) If:
 (a) a registered provider is a body corporate that is incorporated, or taken to be incorporated, under the Corporations Act 2001; and
 (b) the provider has a constitution (within the meaning of that Act); and
 (c) the provider is a wholly‑owned subsidiary (within the meaning of that Act) of another body corporate (the holding company); and
 (d) the holding company is not a registered provider;
it is a condition of registration that the registered provider must ensure that the constitution of the provider does not authorise a director of the provider to act in good faith in the best interests of the holding company.

Aboriginal and Torres Strait Islander corporations
 (2) If:
 (a) a registered provider is an Aboriginal and Torres Strait Islander corporation (within the meaning of the Corporations (Aboriginal and Torres Strait Islander) Act 2006); and
 (b) the provider is a wholly‑owned subsidiary (within the meaning of that Act) of another body corporate (the holding company); and
 (c) the holding company is not a registered provider;
it is a condition of registration that the registered provider must ensure that the constitution of the provider does not authorise a director of the provider to act in good faith in the best interests of the holding company.

Subdivision H—Conditions relating to restrictive practices