7Power to sell business

7 Power to sell business

(1)  On behalf of the Crown, the Treasurer may sell the whole or any part of the business of a prescribed Government Business Enterprise to any person on any conditions the Treasurer considers appropriate.

(2)  Without limiting the generality of subsection (1) , the Treasurer may sell or grant in conjunction with any sale under that subsection a right to use any name, trade mark, service mark, indicia or other property –

(a) that is used for the purposes of the business of the prescribed Government Business Enterprise; or

(b) that the purchaser would not otherwise be permitted to use.

(3)  In exercising a power under this section to sell the business of a prescribed Government Business Enterprise or to sell or grant a right or other property, the Treasurer is to have regard to –

(a) the achievement of a fair and reasonable price for the business, right or other property sold or granted; and

(b) the preservation of accrued entitlements of employees of the prescribed Government Business Enterprise.