3Objects

3 Objects

3 Objects

The objects of this Act are as follows—

(a) to constitute AGL as a body corporate under the law of New South Wales with a modern corporate structure,

(b) to authorise AGL, once incorporated, to apply to be registered as a public company limited by shares under the Corporations Act 2001 of the Commonwealth,

(c) to amend the Gas Industry Restructuring Act 1986 to remove the 5% limit on shareholdings in AGL on its registration as a public company and, pending the removal of that limit, to strengthen the provisions relating to the enforcement of that limit.