Functions and powers of corporate vehicles

In force

A corporate vehicle has all of the functions and powers that are necessary or convenient for the purposes of the disposal of a TAB asset under this Act, including —

(a)

the power to acquire land; and

(b)

if the corporate vehicle is a company referred to in section 3 in the definition of corporate vehicle paragraph (a) — the power to create subsidiaries of the company.

This Act’s bill:Explanatory memorandum Second reading speech

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13 Functions and powers of corporate vehicles