Mandatory constitutional requirements for GCLC companies
228K Mandatory constitutional requirements for GCLC companies
A GCLC company must have, at all times, a constitution requiring the company’s head office to be located in Queensland.
Without limiting subsection (1), a constitution does not comply with subsection (1) unless it requires—
the principal operational offices of the following company officers and personnel, however described, to be located in Queensland—
at least 2 of the company’s directors;
the chairperson;
the senior officer having overall management of the company’s affairs;
the senior officer having overall management of the company’s financial affairs;
the senior officer having overall management of the company’s lottery operations;
the senior officer having overall management of any of the company services mentioned in paragraph (b)(i) to (vii); and
the principal operational offices for the following company services, however described, to be located in Queensland—
distribution, sales and marketing;
strategic planning and business and product development;
accounting;
human resource management;
risk management, compliance, audit and regulatory affairs;
information technology and related services;
administration and corporate services; and
the following meetings of the company to be held in Queensland—
each annual general meeting;
a majority of the board meetings in each year.
This Act’s bill:Explanatory memorandum
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