sec.88ATransfer of involvement in company to another department

### sec.88A Transfer of involvement in company to another department This section applies if— an approval is given for a department (the first department ) under section 88 (1) ; and because of a redistribution of public business of departments, the first department’s involvement in a company becomes the responsibility of another department (the second department ). Following a machinery of government change, the second department replaces the first department as the member of a company. The second department need not comply with section 88 (1) , but must comply with subsections (2) and (3) . The second department must, within 4 months after the redistribution of public business of departments mentioned in subsection (1) (b) , apply for a Treasurer’s approval for the second department’s proposed action in relation to the company. continue as a member of a company, wind up or sell the company The second department may continue as a member of the company only under a Treasurer’s approval. The Treasurer may give an approval for subsection (3) only if the department has developed a business case that satisfies the Treasurer the continued membership is appropriate. s 88A ins 2015 No. 4 s 58 (sec.88A-ssec.1) This section applies if— an approval is given for a department (the first department ) under section 88 (1) ; and because of a redistribution of public business of departments, the first department’s involvement in a company becomes the responsibility of another department (the second department ). Following a machinery of government change, the second department replaces the first department as the member of a company. The second department need not comply with section 88 (1) , but must comply with subsections (2) and (3) . (sec.88A-ssec.2) The second department must, within 4 months after the redistribution of public business of departments mentioned in subsection (1) (b) , apply for a Treasurer’s approval for the second department’s proposed action in relation to the company. continue as a member of a company, wind up or sell the company (sec.88A-ssec.3) The second department may continue as a member of the company only under a Treasurer’s approval. (sec.88A-ssec.4) The Treasurer may give an approval for subsection (3) only if the department has developed a business case that satisfies the Treasurer the continued membership is appropriate. - (a) an approval is given for a department (the first department ) under section 88 (1) ; and - (b) because of a redistribution of public business of departments, the first department’s involvement in a company becomes the responsibility of another department (the second department ).