Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A Commonwealth - controlled company is a prescribed authority unless:
(a) it is excluded by subsection (2); or
(b) under the regulations it is to be taken not to be a prescribed authority.
(2) Subject to subsection (3), a Commonwealth - controlled company is excluded for the purposes of paragraph (1)(a) if:
(a) the company was a Commonwealth - controlled company immediately before the commencement of Part 6 of the Prime Minister and Cabinet (Miscellaneous Provisions) Act 1994 ; and
(b) immediately before that commencement the company was not a prescribed authority for the purposes of this Act as then in force.
(3) A Commonwealth - controlled company that, but for this subsection, would be excluded by subsection (2) is not so excluded if the regulations declare that the company is to be taken to be a prescribed authority.