Government Business Enterprises (Sale) Act 2003
14Formation of companies
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14 Formation of companies
(1) The Treasurer may form, or participate in the formation of, one or more companies limited by shares that is or are to be registered under the Corporations Act, with each company having as its primary purpose the business of, or one or more of the functions performed by, a prescribed Government Business Enterprise.
(2) By written notice provided to a prescribed Government Business Enterprise, the Treasurer may direct the prescribed Government Business Enterprise or its Board to do one or more of the following for the purpose of facilitating the formation under subsection (1) of a company in respect of the business of, or a function performed by, the prescribed Government Business Enterprise:
(a) take the action specified in the notice;
(b) take all reasonable steps and actions.
(3) A prescribed Government Business Enterprise and its Board are to comply with a direction provided under subsection (2) .
(4) A prescribed Government Business Enterprise and its Board may do all things necessary or convenient to be done to enable them to comply with a direction provided under subsection (2) .