99Limitations on authorities taking part in joint ventures

99 Limitations on authorities taking part in joint ventures and trusts (1) A relevant territory authority must not take part in a joint venture or trust without the Treasurer’s prior written approval. (2) An approval under subsection (1)— (a) may apply generally or may relate to a particular proposed joint venture or trust; and (b) may be given subject to the conditions or restrictions stated in the approval. (3) If a relevant territory authority enters into an agreement for a joint venture or trust, the authority must tell the responsible Minister within 2 weeks after the day the authority enters into the agreement. (4) The responsible Minister must— (a) prepare a written statement setting out details of, and reasons for, the agreement; and (b) present the statement to the Legislative Assembly within 6 sitting days after the day the Minister is told about the agreement. (5) A statement need not include any material that is commercially sensitive.

(6) However, if commercially sensitive information is not included in the statement, the responsible Minister must, when presenting the statement to the Legislative Assembly, also present a further statement setting out the general nature of the information and the reason for its non-inclusion in the statement.