Corporations (Aboriginal and Torres Strait Islander) Consequential, Transitional and Other Measures Act 2006

This item applies if, at commencement:

one or more of a transitional corporation's directors are not individuals who are Aboriginal and Torres Strait Islander persons (the non‑Indigenous appointees); and

the non‑Indigenous appointees are a majority of the corporation's directors.

Until the non‑Indigenous appointees no longer constitute a majority of the corporation's directors:

subsection 246‑5(1) of the new Act does not apply in relation to the corporation; and

only individuals who are Aboriginal and Torres Strait Islander persons can become directors of the corporation.

For the purposes of this item, a person ceases to be a non‑Indigenous appointee if the person ceases to be a director of the transitional corporation (whether or not the person is immediately reappointed).