Responsible Minister may direct div 9.6 authority to sell or transfer assets
106 Responsible Minister may direct div 9.6 authority to sell or transfer assets
The responsible Minister for a division 9.6 authority may direct the authority to sell or transfer a stated asset of, or held by, the authority.
The direction may also impose on the division 9.6 authority requirements to assist or regulate, or otherwise in relation to, the sale or transfer.
Examples of other requirements
1 that a sale or transfer must be to a stated entity
2 that a sale or transfer must be finished before a stated time
3 that a sale or transfer must be undertaken in a stated way
4 that an asset must be sold for a price within a stated price-range
5 that an asset must be marketed, and the sale undertaken, through a stated agent
The division 9.6 authority must comply with the direction.
A direction under subsection (1) is a notifiable instrument.
To remove any doubt, this section is additional to, and does not limit, any other provision of this division.
This Act’s bill:Explanatory statement
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