13Limits on equity investments

13 Limits on equity investments

(1) The Corporation must not acquire an equity interest in an entity if this would result in Corporation bodies and any other Commonwealth entities together either: (a) holding a majority of the equity interests in the entity; or (b) being in a position to control the entity. (2) Subsection (3) applies if: (a) a Corporation body holds one or more equity interests in an entity; and (b) the Corporation body becomes aware that holding those equity interests results in the situation referred to in subsection (1). (3) The Corporation body must: (a) realise sufficient equity interests so that the situation no longer exists; and (b) do so as soon as reasonably practicable in the circumstances after the Corporation body becomes aware of the fact. (4) For this section, control has the same meaning as in the definition of “subsidiary” in the Public Governance, Performance and Accountability Act 2013.