Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated Acts(1) If—
(a) the voting shareholders of a territory-owned corporation request it or a subsidiary to perform, cease to perform or refrain from performing an activity or to perform an activity in a way that is different from the way in which the directors intend to perform the activity; and
(b) the directors of the company advise the voting shareholders that compliance with their request would not be in the best commercial interest of the company;
the voting shareholders may, by written direction, require the company to comply with the request.
(2) The company must comply with a lawful direction.
(3) The directors of a company are not taken to be in breach of any duty under a law or the constitution of the company only because of their compliance with a lawful direction.
(4) The Portfolio Minister must present to the Legislative Assembly—
(a) a copy of a direction; and
(b) a statement setting out the estimated net reasonable expense of complying with it;
within 15 sitting days of the issue of the direction.
(5) The Territory must reimburse the company for the net reasonable expense of complying with a direction.
(6) In this section a reference to net reasonable expense is a reference to the difference between—
(a) the reasonable expense of complying with the direction; and
(b) the expense (if any) that the company would have incurred in relation to the activity that is the subject of the direction, if the direction had not issued.
(7) An amount is not payable under subsection (5) unless it is agreed to by the Treasurer and the company or, failing agreement, is decided by the Chief Minister.