sec.124Application of Corporations Act to officers of GOC subsidiaries

### sec.124 Application of Corporations Act to officers of GOC subsidiaries In determining for the purposes of the Corporations Act the degree of care and diligence that a reasonable person in a like position in a GOC subsidiary would exercise in the circumstances of the GOC subsidiary concerned, regard must be had to— the application of this Act to the GOC and subsidiary; and relevant matters required or permitted to be done under this Act or another Act in relation to the GOC and subsidiary; including, for example— any relevant community service obligations of the GOC; and any relevant directions, notifications or approvals given to the GOC by the GOC’s shareholding Ministers. This section has effect despite the Corporations Act . s 124 amd 1994 No. 31 s 16 sch 3 ; 2001 No. 45 s 29 sch 3 ; 2006 No. 42 s 72 (sec.124-ssec.1) In determining for the purposes of the Corporations Act the degree of care and diligence that a reasonable person in a like position in a GOC subsidiary would exercise in the circumstances of the GOC subsidiary concerned, regard must be had to— the application of this Act to the GOC and subsidiary; and relevant matters required or permitted to be done under this Act or another Act in relation to the GOC and subsidiary; including, for example— any relevant community service obligations of the GOC; and any relevant directions, notifications or approvals given to the GOC by the GOC’s shareholding Ministers. (sec.124-ssec.2) This section has effect despite the Corporations Act . - (a) the application of this Act to the GOC and subsidiary; and - (b) relevant matters required or permitted to be done under this Act or another Act in relation to the GOC and subsidiary; - (c) any relevant community service obligations of the GOC; and - (d) any relevant directions, notifications or approvals given to the GOC by the GOC’s shareholding Ministers.