Superannuation (Axiom Funds Management Corporation) Act 1996
59Negotiations and agreements for sale of AFML
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59 Negotiations and agreements for sale of AFML
59 Negotiations and agreements for sale of AFML
(1) The Premier and the Treasurer (or either of them) are authorised to negotiate, enter into and carry out on behalf of the State an agreement for the sale of the shares in AFML and the business of AFML and any other associated transactions.
(2) The Treasurer is authorised to transfer the shares held by the State of New South Wales to an approved buyer in accordance with the terms of the agreement entered into under this section and to enter into and carry out agreements for the transfer of shares to the approved buyer.
(3) The agreement for sale must provide for the repayment to Treasury Corporation of money loaned by Treasury Corporation to AFMC and repayable by AFML as at the sale.