- an unlisted proprietary company limited by shares incorporated under the Corporations Act and
- a Commonwealth Company for the purposes of the PGPA Act.
ANI is wholly owned by the Australian Government represented by two Shareholder Ministers, the Minister for Finance and the Minister for Defence.
There is no separate enabling legislation for ANI.
ANI has adopted a constitution, the key features of which include:
- A statement of objects
- a limitation on the powers of ANI by reference to Australian Government Policy and the contents of the CFF
- express restrictions on the power of ANI to take specified actions without prior written consent of the Minister for Finance and the Minister for Defence Industry
- a provision deeming that Directors are considered to act in good faith and in best interests of ASC if they act in good faith, in the best interests of the Commonwealth, within the power of ASC and the law and the company remains solvent
- a provision deeming that Directors are considered to act in the best interests of the Commonwealth if they act in accordance with the instructions, directions or expectations of the Commonwealth
- the ability for the Shareholder Ministers to communicate expectations of the Commonwealth to inform the view of Directors
- the ability for the Shareholder Ministers to direct Directors to exercise the powers of the company in a specified manner and
- a corporate indemnity for Directors.
ANI only has fully paid ordinary shares in issue, all of which are owned by the Commonwealth.
The company does not presently have any financial borrowing.