Commonwealth Numbered Acts

COMMONWEALTH FUNDS MANAGEMENT LIMITED ACT 1990 No. 13 of 1991 - SECT 15

15. (1) Where all the shares in the Company are beneficially owned by the
Commonwealth, subsection 82 (1) and paragraph 364 (1) (d) of the
Companies Act  1981 do not apply in relation to the Company and subsection 244
(6) of that Act applies as if:

   (a)  the Commonwealth were a holding company, within the meaning of that
        subsection, of the Company; and

   (b)  the Commonwealth held the whole of the issued shares in the Company;
        and

   (c)  the Minister were a representative of the Commonwealth authorised
        under subsection 244 (3) of that Act.

(2) Paragraph 86 (6) (b) and subsections 87 (4) and 90 (5) of the Companies 
Act 1981 do not apply in relation to the Company.

(3) For the purposes of section 360 of the Companies Act 1981, a person is not
a past member of the Company merely because he or she was a member of the
Company, or acted as a member of the Company, before the commencement of this
Part.