88
In forceTreasurer’s approval to form, or become a member of, a company
Part 5Provisions applying only to departments
Division 7Miscellaneous
88 Treasurer’s approval to form, or become a member of, a company
(1)
A department may do any of the following only under a Treasurer’s approval—
(a)
form, or participate in the formation of, a company;
(b)
become a parent entity in relation to a company;
(c)
become a member of a company.
(2)
The Treasurer may give an approval for subsection (1) only if the department has developed a business case that satisfies the Treasurer that a company is the appropriate vehicle for the purpose for which the approval is required.
This Act’s bill:Explanatory memorandumSecond reading speech
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