sec.53Candidate GOC associates and subsidiaries of candidate GOC associates

### sec.53 Candidate GOC associates and subsidiaries of candidate GOC associates A regulation may provide that, on a specified day, a candidate GOC associate or an associate subsidiary— is a body corporate; and has the name specified by regulation; and may sue and be sued in its corporate name; and has the functions and powers specified by regulation. A candidate GOC associate or associate subsidiary provided for under a regulation made under subsection (1) may have a seal. A regulation may make provision with respect to any matter for which it is necessary or convenient to make provision to facilitate the change of the associate or subsidiary from a government entity that is not a body corporate to a body corporate that is to become a GOC or GOC subsidiary. s 53 sub 1994 No. 31 s 24 amd 2007 No. 10 s 15 (sec.53-ssec.1) A regulation may provide that, on a specified day, a candidate GOC associate or an associate subsidiary— is a body corporate; and has the name specified by regulation; and may sue and be sued in its corporate name; and has the functions and powers specified by regulation. (sec.53-ssec.2) A candidate GOC associate or associate subsidiary provided for under a regulation made under subsection (1) may have a seal. (sec.53-ssec.3) A regulation may make provision with respect to any matter for which it is necessary or convenient to make provision to facilitate the change of the associate or subsidiary from a government entity that is not a body corporate to a body corporate that is to become a GOC or GOC subsidiary. - (a) is a body corporate; and - (b) has the name specified by regulation; and - (c) may sue and be sued in its corporate name; and - (d) has the functions and powers specified by regulation.