Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 601CG

(1)

A foreign company that lodges a memorandum of appointment, or a power of attorney, that is duly executed by or on behalf of the foreign company and states the name and address of a person who is:

(a)

a natural person or a company;

(b)

resident in Australia; and

(c)

authorised to accept on the foreign company's behalf service of process and notices;

shall be taken to appoint that person as a local agent.

(2)

Where a memorandum of appointment, or a power of attorney, lodged under subsection (1) is executed on the foreign company's behalf, the foreign company shall, unless it has already done so, lodge a copy, verified in writing in the prescribed form to be a true copy, of the document authorising the execution.

(3)

A copy lodged under subsection (2) shall be deemed for all purposes to be the original of the document.

(4)

A foreign company that appoints a local agent shall lodge a written statement that is in the prescribed form and is made by the local agent.

(5)

A person whom a foreign company appoints as a local agent is a local agent of the foreign company until the person:

(a)

ceases by virtue of section 601CH to be such a local agent; or

(b)

dies or ceases to exist.