Australian Capital Territory Numbered Acts

TERRITORY OWNED CORPORATIONS AMENDMENT ACT 2004 (NO. 53 OF 2004) - SECT 15

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    (5)     For this section an undertaking of a Territory owned corporation or subsidiary is a main undertaking for the corporation or subsidiary if—

        (a)     it is a main undertaking when interpreted in accordance with the accounting standards relating to materiality practised in Australia at the time the decision about whether it is a main undertaking is made; or

        (b)     a document published by the corporation or subsidiary identifies it as a main undertaking (however described); or

        (c)     a memorandum of understanding between the corporation or subsidiary and the voting shareholders identifies it as a main undertaking (however described); or

        (d)     it is declared under the regulations to be a main undertaking.

    (6)     For this section, an asset, a part of the undertakings or assets, or a change to the nature or extent of an interest of a Territory owned corporation or subsidiary is significant for the corporation or subsidiary if—

        (a)     it is significant when interpreted in accordance with the accounting standards relating to materiality practised in Australia at the time the decision about whether it is significant is made; or

        (b)     a document published by the corporation or subsidiary identifies it as significant (however described); or

        (c)     a memorandum of understanding between the corporation or subsidiary and the voting shareholders identifies it as significant (however described); or

        (d)     it is declared under the regulations to be significant.