Part 2Australian Grand Prix Corporation

Part 2—Australian Grand Prix Corporation

Division 1—The Corporation

7 Establishment of Corporation

(1) There is established an Australian Grand Prix Corporation.

(2) The Corporation—

(a) is a body corporate with perpetual succession;

(b) has a common seal;

(c) may sue and be sued in its corporate name;

(d) may acquire, hold and dispose of real and personal property; and

(e) may do and suffer all acts and things that a body corporate may by law do and suffer.

(3) The common seal of the Corporation must be kept as directed by the Corporation and must only be used as authorised by the Corporation.

(4) All courts must take judicial notice of the common seal of the Corporation on a document and, until the contrary is proved, must presume that it was duly affixed.

8 Corporation holds property on behalf of Crown

The Corporation is a public authority which does not represent the Crown but holds its property on behalf of the Crown.