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Telstra Corporation Act 1991
8BUMajority of directors must be Australian citizens
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8BU Majority of directors must be Australian citizens
(1) A Telstra successor company must ensure that a majority of its directors are Australian citizens. (2) A contravention of subsection (1) is not an offence. However, a contravention of subsection (1) is a ground for obtaining an injunction under Division 1 of Part 2B. (3) A contravention of subsection (1) does not affect the validity of any transaction.