3Interpretation

### 3 Interpretation > In this Act – > > > ***appropriate company***, in relation to a former board, means – > > > > > > (a) the company that is formed to replace that former board; or > > > > > > > (b) a subsidiary of a company, being a subsidiary that is formed to replace that former board; > > > ***asset*** includes any business or property; > > > ***Board*** means the Board of Directors as constituted under [section 11](#GS11@EN) or [12](#GS12@EN) ; > > > ***commencement day*** means the day proclaimed under [section 2](#GS2@EN) ; > > > ***company*** means a company formed under [section 5](#GS5@EN) ; > > > ***Crown land*** means land as defined in the [Crown Lands Act 1976](/view/html/inforce/2026-04-12/act-1976-028) ; > > > ***designated airport*** means an airport declared to be a designated airport under [section 4](#GS4@EN) ; > > > ***director*** means – > > > > > > (a) an initial director; and > > > > > > > (b) a subsequent director; > > > ***former Act*** means the [Marine Act 1976](/view/html/inforce/2026-04-12/act-1976-018) ; > > > ***former board*** means a marine board under the former Act; > > > ***incorporation day*** means the day on which a company is incorporated; > > > ***initial director*** means a director referred to in [section 11](#GS11@EN) ; > > > ***liability*** includes any liability, duty and obligation, whether actual, contingent or prospective; > > > ***member of a company*** means a member referred to in [section 9](#GS9@EN) ; > > > ***port*** includes a designated airport; > > > ***principal objectives*** means the objectives of a company specified in [section 7](#GS7@EN) ; > > > ***property*** means – > > > > > > (a) any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property; and > > > > > > > (b) money, documents and securities; and > > > > > > > (c) any other rights; > > > ***right*** includes any right, power, privilege and immunity, whether actual, contingent or prospective; > > > ***subsequent director*** means a person appointed as a director under [section 12](#GS12@EN) ; > > > [*\[Section 3 Amended by No. 42 of 2001, Sched. 1, Applied:15 Jul 2001\]*](/view/html/inforce/2001-07-15/act-2001-042#JS1@Ja52@GC1@EN) ***subsidiary*** has the same meaning as in the Corporations Act; > > > ***transfer day*** means the day on which a transfer under [Division 3](#HP2@HD3@EN) of [Part 2](#HP2@EN) takes effect.