39BSupplementary powers to form companies etc.

39B Supplementary powers to form companies etc.

Formation of company etc. (1) The Commonwealth may form, or participate in the formation of, a company if, were it to come into existence, the company would be a company: (a) that is specified in the regulations; and (b) whose objects or proposed activities are specified in the regulations. Acquisition of shares in company etc. (2) The Commonwealth may acquire shares in, or become a member of, a company in circumstances that would result in the company becoming a Commonwealth company if: (a) the company is specified in the regulations; and (b) the company’s objects or proposed activities are specified in the regulations. Finance Minister’s power (3) A power conferred on the Commonwealth by subsection (1) or (2) may be exercised on behalf of the Commonwealth by the Finance Minister.

Note: For the power to delegate, see section 40.

Definitions (5) In this section:

acquire includes acquire by subscription.

Commonwealth company has the same meaning as in the Public Governance, Performance and Accountability Act 2013.