Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT 1984No. 123, 1984 - SECT 347

347. Section 40 of the Principal Act is amended-

   (a)  by omitting from sub-section (1) ", being a person residing in
        Australia and";

   (b)  by inserting after sub-section (1) the following sub-section:

"(1A) A person is not capable of being a public officer of a company unless
the person-

   (a)  is a natural person who has attained the age of 18 years;

   (b)  is ordinarily resident in Australia; and

   (c)  is capable of understanding the nature of the person's appointment as
        the public officer of the company."; and
(c) by inserting in sub-section (7) "refusal or" before "failure".