10Australian Sports Foundation

10 Australian Sports Foundation

(1) As soon as practicable after the commencement of this Act, the Commission shall arrange for the name of the company known as the “Australian Sports Aid Foundation” (being the company that was incorporated in the Australian Capital Territory on 18 February 1986 under the Companies Act 1981 for the purpose of section 8 of the Australian Sports Commission Act 1985) to be changed to the “Australian Sports Foundation”. (2) After the change of name of the company in accordance with subsection (1) the company is not authorised to change its name. (3) The purpose of the company is to raise money for the development of sport in Australia. (4) Except to the extent necessary for the performance of its functions in relation to the Commission, the company is not empowered to do anything that the Commission is not empowered to do.