13Formation of companies, partnerships etc.

13 Formation of companies, partnerships etc.

(1) EFIC may: (a) arrange for the formation of a company; or (b) join in the formation of a company, partnership, joint venture or other business association; for any purpose connected with, or incidental to, EFIC’s functions. (2) EFIC may only exercise a power under subsection (1) if: (a) the exercise of the power would be consistent with the achievement of the objectives of EFIC as set out in the corporate plan in force at the time; and (b) the power is exercised on terms and conditions approved in writing by the Minister.