18Private subsidiary corporations

#### 18 Private subsidiary corporations 18 Private subsidiary corporations > > (1) The Authority may, subject to subsection (2)— > > > > > (a) form, or participate in the formation of, private corporations, and > > > > > (b) acquire interests in private corporations, and > > > > > (c) sell or otherwise dispose of interests in private corporations. > > > (2) The Authority must not, without the approval of the Minister— > > > > > (a) form, or participate in the formation of, a private subsidiary corporation, or > > > > > (b) acquire an interest in a private corporation so that, as a result of the acquisition, the corporation becomes a private subsidiary corporation, or > > > > > (c) sell or otherwise dispose of any interest in a private subsidiary corporation so that, as a result of the sale or disposal, it ceases to be a private subsidiary corporation. > > > (3) A private subsidiary corporation is not, and does not represent, the Crown. > > > (4) In this section— > > > > private corporation means a corporation within the meaning of the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth formed in or outside New South Wales. > > > > private subsidiary corporation means a private corporation in which the Authority has a controlling interest.