Superannuation (Axiom Funds Management Corporation) Act 1996
54Ministerial control of AFML
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54 Ministerial control of AFML
54 Ministerial control of AFML
(1) The board of directors of AFML is, in the exercise of its functions, subject to the control and direction of the Treasurer.
(2) Neither the enactment of this section nor the exercise of the Treasurer’s powers under this section constitutes the Treasurer as a director of AFML or a person who participates in the management of AFML.
(3) A director of AFML is not personally liable in any civil or criminal proceedings (including proceedings for a breach of any duty under the Corporations Law) for anything done or omitted for the purpose only of complying with a direction of the Treasurer under this section.