10ALimitations on formation etc. of companies

#### 10A Limitations on formation etc. of companies (1) The Agency must not form, or participate in the formation of, a company except with the written approval of the Minister. (2) A person must not be appointed as a director of a company owned by the Agency except with the written approval of the Minister. (3) A company owned by the Agency must not change its constitution except with the written approval of the Minister. For this purpose, constitution has the same meaning as in the Corporations Act 2001. (4) Before giving an approval under subsection (2) or (3), the Minister must consult the Minister for Finance and Administration. (5) The Minister is not taken, for the purposes of the Corporations Act 2001, to be a director of a company owned by the Agency because of the powers that are conferred on the Minister by subsections (2) and (3). (6) The Minister for Finance and Administration is not taken, for the purposes of the Corporations Act 2001, to be a director of a company owned by the Agency because of the right conferred on the Minister for Finance and Administration by subsection (4). (7) For the purposes of this section, a company is owned by the Agency if, and only if: (a) in the case of a company limited by shares—all the shares in the company are beneficially owned by the Agency; or (b) in the case of a company limited by guarantee—all the interests and rights of the members in or in relation to the company are beneficially owned by the Agency.