3Interpretation

3 Interpretation

In this Act, unless the contrary intention appears:

articles means articles of association.

CSL means the body corporate that, at the commencement of this section, exists, because of this Act, under the name “Commonwealth Serum Laboratories Commission”.

employment, in relation to a staff member, means employment by, or service with, CSL.

member, in relation to CSL at any time before the transition, includes a Commissioner and the Managing Director.

memorandum means memorandum of association.

share, in relation to CSL, means a share in the share capital of CSL.

staff member means a person who, immediately before the transition is:

(a) the Managing Director of CSL; or
(b) an officer or employee of CSL.

subsidiary has the meaning given by section 5.

transferring asset means an asset to which a determination under paragraph 31A(1)(a) applies.

transferring liability means a liability to which a determination under paragraph 31A(1)(b) applies.

transition means the commencement of Part 3, being the Part inserted by section 13 of the Commonwealth Serum Laboratories (Conversion into Public Company) Act 1990.

wholly‑owned subsidiary, in relation to CSL, means a body corporate:

(a) that is a subsidiary of CSL; and
(b) none of whose members is a person other than:
(i) CSL; or
(ii) a body corporate that is, under any other application or applications of this definition, a wholly‑owned subsidiary of CSL; or
(iii) a nominee of CSL 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) CSL; or
(ii) a body of a kind referred to in subparagraph (b)(ii).