Commonwealth Funds Management Limited Act 1990
3Interpretation
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3 Interpretation
(1) In this Act, unless the contrary intention appears:
articles means articles of association.
Australian Capital Territory includes the Jervis Bay Territory.
authorised person means:
(a) the Minister; or
(b) the holder of an authorising office.
authorising office means an office, in the Department, which is declared in writing by the Minister to be an authorising office for the purposes of this definition.
Company means the body corporate established, and known as the Superannuation Fund Investment Trust, under Part III of the Superannuation Act 1976 as in force immediately before the commencement of this section.
employment, in relation to a staff member, means employment by, or service with, the Company.
liability includes a debt or obligation.
memorandum means memorandum of association.
share, in relation to a body corporate, means a share in the share capital of the body corporate.
staff member means a person who, immediately before the transition, is:
(a) the Chief Executive Officer of the Company; or
(b) an officer or employee of the Company.
subsidiary has the meaning given by subsection (2).
transition means the commencement of Part 3.
wholly‑owned subsidiary, in relation to the Company, means a body corporate:
(a) that is a subsidiary of the Company; and
(b) none of whose members is a person other than:
(i) the Company; or
(ii) a body corporate that is, under any other application or applications of this definition, a wholly‑owned subsidiary of the Company; or
(iii) a nominee of the Company or of a body of a kind referred to in subparagraph (ii); and
(c) no share in which is beneficially owned by a person other than:
(i) the Company; or
(ii) a body of a kind referred to in subparagraph (b)(ii).
(2) For the purposes of this Act, the question whether a body corporate is a subsidiary of another body corporate shall be determined in the same way as the question whether a corporation is a subsidiary of another corporation is determined under the Corporations Act 2001.