ACTEW to maintain at least 50% interest in partnerships
27 ACTEW to maintain at least 50% interest in partnerships
ACTEW must not, without the prior approval of the Legislative Assembly, dispose of so much of its beneficial interest in a partnership as would result in the beneficial interest of ACTEW being reduced to less than 50% of the total equity of the partnership.
The approval of the Legislative Assembly is to be expressed by resolution.
The grant of a mortgage or the giving of security is not a disposal for subsection (1) if done with the consent required under the Territory-owned Corporations Act 1990, section 16 (1) and in accordance with any conditions to which the consent may be subject.
This Act’s bill:Explanatory statementSecond reading speech
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