Commonwealth Consolidated Acts

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AIRPORTS ACT 1996 - SECT 59

Majority of directors must be Australian citizens or Australian residents

             (1)  An airport-operator company must ensure that a majority of its directors are:

                     (a)  Australian citizens; or

                     (b)  foreign citizens ordinarily resident in Australia.

             (2)  A contravention of subsection (1) is not an offence. However, a contravention of subsection (1) is a ground for obtaining an injunction under Part 15.

             (3)  A contravention of subsection (1) does not affect the validity of any transaction.


 


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