View All - 1957 Acts
Section No :  
Acts & Ordinances
STATE INDUSTRIAL CORPORATIONS
Marginal Notes
1. This Act may be cited as the State Industrial Corporations Act, No. 49 of 1957.
2. Incorporation Order for establishment of a State industrial corporation.
3. Objects of the corporation.
4. Principal place of business of the corporation.
5. Powers of the corporation.
6. Liability of the corporation limited to its capital.
7. Seal of the corporation.
8. General control of the affairs, and the exercise of the powers, of the corporation.
9. Members of the corporation.
10. Number of directors.
11. Disqualification for being a director.
12. Appointment of directors.
13. Appointment of chairman of the board of directors.
14. Managing director of the corporation.
15. Term of office of directors other than managing director.
16. Appointment of acting directors.
17. Resignation of directors other than managing director.
18. Removal of directors, other than managing director, from office.
19. Eligibility of directors, other than managing director, for reappointment.
20. Remuneration of directors, other than the managing director.
21. The first directors.
22. The first chairman of the board of directors.
23. Capital of the corporation.
24. Quorum for meetings of board of directors.
25. Transfer of Crown property and certain contracts and liabilities to the corporation.
26. Appointment of public officers to the staff of the corporation.
27. Disposition of profits of the corporation.
28. Accounts of the corporation.
29. Audit.
30. Documents to be sent to the Minister and laid before House of Representatives.
31. Directions by, and inquiries at the instance of, the Minister.
32. Payment of tax on income or profits of the corporation.
33. Compulsory acquisition of any land or an interest in any land for the corporation. {Cap. 460.} {Cap. 454.}
34. Application of company law to the corporation. {Cap. 145.}
35. Staff.
36. Pension scheme, &c, for staff.
37. Validity of acts and proceedings of the board of directors.
38. Power to exempt the corporation from the provisions of certain Ordinances.
39. Regulations.
40. Interpretation.