Commonwealth Consolidated Acts Commonwealth Consolidated ActsIn this Act, unless the contrary intention appears:
"articles" means articles of association.
"CSL" means the body corporate that, at the commencement of this section, exists, because of this Act, under the name "Commonwealth Serum Laboratories Commission".
"employment" , in relation to a staff member, means employment by, or service with, CSL.
"member" , in relation to CSL at any time before the transition, includes a Commissioner and the Managing Director.
"memorandum" means memorandum of association.
"share" , in relation to CSL, means a share in the share capital of CSL.
"staff member" means a person who, immediately before the transition is:
(a) the Managing Director of CSL; or
(b) an officer or employee of CSL.
"subsidiary" has the meaning given by section 5.
"transferring asset" means an asset to which a determination under paragraph 31A(1)(a) applies.
"transferring liability" means a liability to which a determination under paragraph 31A(1)(b) applies.
"transition" means the commencement of Part 3, being the Part inserted by section 13 of the Commonwealth Serum Laboratories (Conversion into Public Company) Act 1990 .
"wholly-owned subsidiary" , in relation to CSL, means a body corporate:
(a) that is a subsidiary of CSL; and
(b) none of whose members is a person other than:
(i) CSL; or
(ii) a body corporate that is, under any other application or applications of this definition, a wholly - owned subsidiary of CSL; or
(iii) a nominee of CSL or of a body of a kind referred to in subparagraph ( ii); and
(c) no share in which is beneficially owned by a person other than:
(i) CSL; or
(ii) a body of a kind referred to in subparagraph ( b)(ii).