33ENomination of subsidiary to which business is to be transferred—the receiving subsidiary

#### 33E Nomination of subsidiary to which business is to be transferred—the receiving subsidiary (1) Subject to subsection (2), the Minister must, before the re‑organisation day, by notice in the Gazette, nominate a subsidiary of the Authority as the receiving subsidiary for the purposes of this Part. (2) The Minister must not nominate a subsidiary under subsection (1) unless the subsidiary is: (a) a company incorporated under the Corporations Act 2001; and (b) a wholly‑owned subsidiary; and (c) a trading corporation within the meaning of paragraph 51(xx) of the Constitution. (3) If a subsidiary nominated under subsection (1) ceases, on or before the re‑organisation day, to be a subsidiary of the Authority of the kind described in subsection (2), the Minister must revoke the nomination. (4) For all purposes, and in all proceedings, relating to this Act, proof of the fact that a body corporate was nominated under subsection (1) is to be taken: (a) to have been, on the day of the nomination, a subsidiary of the Authority of the kind described in subsection (2); and (b) at all times thereafter until the re‑organisation day, to have continued to be such a subsidiary.