58Subsidiary
corporations
(1)
In this section:
private
corporation means a corporation within the meaning of the
Corporations Act 2001 of the
Commonwealth, whether formed in or outside New South Wales.
subsidiary corporation means a
private corporation in which the Authority has a controlling
interest.
(2)
The Authority may, with the approval of the
Minister:
(a)
in relation to private corporations:
(i)
form, or participate in the formation of, a
private corporation, and
(ii)
acquire interests in a private corporation,
and
(iii)
sell or otherwise dispose of interests in a
private corporation, and
(b)
in relation to subsidiary corporations:
(i)
form, or participate in the formation of, a
subsidiary corporation, and
(ii)
acquire an interest in a private corporation so
that, as a result of the acquisition, the corporation becomes a subsidiary
corporation, and
(iii)
sell or otherwise dispose of any interest in a
subsidiary corporation so that, as a result of the sale or disposal, it ceases
to be a subsidiary corporation.
(3)
The Minister must not give such an approval
except with the concurrence of the Treasurer.
(4)
A private corporation in which the Authority has
an interest (including a subsidiary corporation) is not, and does not
represent, the Crown.
s 58: Am 2001 No 34,
Sch 4.62 (am 2001 No 112, Sch 2.10 [2]).