Corporations, joint ventures and trusts in which authority has interest

In force

(1)

If a relevant territory authority has a controlling interest in a corporation, joint venture or trust, the authority must ensure that—

(a)

the auditor-general is appointed auditor for the corporation, joint venture or trust; and

(b)

the corporation or joint venture, or a trustee for the trust, does not do anything that the authority itself could not do.

(2)

If a relevant territory authority has an interest, other than a controlling interest, in a corporation, joint venture or trust, the authority must try to ensure that the auditor-general is appointed auditor for the corporation, joint venture or trust.

Note

The Auditor-General Act 1996, s 14 allows the auditor-general to require a person to give to the auditor-general information and documents.

(3)

In this section—

controlling interest—see the Auditor-General Act 1996, section 5.

This Act’s bill:Explanatory statement

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100 Corporations, joint ventures and trusts in which authority has interest