Corporations (Aboriginal and Torres Strait Islander) Act 2006
A director of an Aboriginal and Torres Strait Islander corporation that is a wholly-owned subsidiary of a body corporate is taken to act in good faith in the best interests of the subsidiary if: (a) the constitution of the subsidiary expressly authorises the director to act in the best interests of the holding body corporate; and (b) the director acts in good faith in the best interests of the holding body corporate; and (c) the subsidiary is not insolvent at the time the director acts and does not become insolvent because of the director ' s act.
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