Commonwealth Consolidated Acts

ABORIGINAL AND TORRES STRAIT ISLANDER ACT 2005 - SECT 193Q

No foreign subsidiaries

  (1)   The Indigenous Land and Sea Corporation must take all reasonable steps to ensure that a company incorporated in a foreign country does not become a subsidiary of the Indigenous Land and Sea Corporation.

Exception--Minister's consent

  (2)   Subsection   ( 1) does not apply if the Minister has given written consent to the company becoming or being a subsidiary of the Indigenous Land and Sea Corporation.