28Private subsidiary corporations etc

28 Private subsidiary corporations etc

28 Private subsidiary corporations etc

(1) The Trust may—

(a) with the Minister’s approval, form, or participate in the formation of, private subsidiary corporations, and

(b) acquire interests in private corporations, and

(c) sell or otherwise dispose of interests in private corporations.

(2) However, the Trust must not, without the Minister’s approval—

(a) acquire an interest in a private corporation if, as a result of the acquisition, the corporation becomes a private subsidiary corporation, or

(b) sell or otherwise dispose of an interest in a private subsidiary corporation if, as a result of the sale or disposal, it ceases to be a private subsidiary corporation.

(3) A private subsidiary corporation is not a NSW Government agency.

(4) Nothing in this section affects the operation of the Government Sector Finance Act 2018, Part 6.

(5) In this section—

private corporation means a corporation, within the meaning of the Corporations Act 2001 of the Commonwealth, formed in or outside New South Wales.