110Beneficial enterprises

110 Beneficial enterprises (1) For the purpose of performing its role, a Council may participate in any of the following beneficial enterprises— (a) become a member of a corporation; (b) participate in the formation of a corporation, trust or other body; (c) acquire shares in a corporation, trust or other body; (d) enter into a partnership or joint venture with any other person or body. (2) If by virtue of any participation, subscription or acquisition under subsection (1), a Council has the right to appoint some person to be a director of or hold office in or under the corporation, trust, partnership or other body, the Council may appoint a Councillor, member of Council staff or other person to that office. (3) For the purposes of subsection (1)(a), (b) or (c), a Council may nominate a person to hold the shareholding or unit holding on behalf of the Council and the person nominated is to be treated as being the shareholder or unit holder of the shares or units.