Business plans for major trading undertaking and major land transaction, content of
10 Business plans for major trading undertaking and major land transaction, content of
If a local government is required to prepare a business plan because of a major trading undertaking or major land transaction that it is to carry on or enter into jointly with another person —
the business plan is to include details of the whole undertaking or transaction, even though the local government is not the only joint venturer; and
the business plan is to include details of —
the identity of each joint venturer other than the local government; and
the ownership of, and any other interests in, property that is involved in, or acquired in the course of, the joint venture; and
any benefit to which a joint venturer other than the local government may become entitled under or as a result of the joint venture; and
anything to which the local government may become liable under or as a result of the joint venture.
In subregulation (1) —
joint venture means the major trading undertaking or major land transaction that is to be jointly carried on or entered into;
joint venturer means the local government or another person with whom the local government is to carry on or enter into the joint venture.
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