ACTEW control over its joint venture entities
28 ACTEW control over its joint venture entities
A company is not eligible to become a joint venture entity to represent the interests of ACTEW in a partnership unless the full beneficial interest in all its shares vests in ACTEW.
ACTEW may reduce its beneficial interest in a company that is a joint venture entity mentioned in subsection (1) only in accordance with a resolution of the Legislative Assembly.
The grant of a mortgage or the giving of security over shares in a joint venture entity is not a reduction of beneficial interest for subsection (2) 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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