Commonwealth Numbered Acts

BROADCASTING AND TELEVISION LEGISLATION AMENDMENT ACT 1986 No. 2 of 1986 - SECT 9

9. After section 25 of the Principal Act the following section is inserted:
Power to form companies, &c.

"25A. (1) In this section -
'authorized business' means a business or other activity related to or
incidental to the performance of any of the functions of the Corporation;
'prescribed company' means a company that carries on, or proposes to carry on,
an authorized business.

"(2) The Corporation may -

   (a)  form, or participate with other persons in the formation of, a company
        to carry on an authorized business;

   (b)  acquire, hold and dispose of shares or stock in the capital of, or
        debentures or other securities of, a prescribed company;

   (c)  enter into a partnership, or an arrangement for the sharing of profits
        or expenses, with a prescribed company for the purpose of carrying on
        an authorized business; and

   (d)  provide technical or other assistance and facilities (whether in or
        outside Australia) for a prescribed company or for a partnership, or
        for the purposes of an arrangement, referred to in paragraph (c).

"(3) The Corporation shall not exercise a power conferred by sub-section (2),
or expend money in connection with the carrying on of an authorized business,
except with the approval of the Minister.

"(4) An agreement or arrangement between the Corporation and a prescribed
company shall include a term empowering the Corporation to terminate the
agreement or arrangement if the prescribed company ceases to be a prescribed
company.

"(5) Where -

   (a)  the Corporation has an interest in, or is a party to an agreement or
        arrangement with, a prescribed company; and

   (b)  the prescribed company ceases to be a prescribed company, the Minister
        may give to the Corporation such directions as the Minister thinks
        appropriate with respect to -

   (c)  the disposal of the interest of the Corporation in the company; or

   (d)  the termination of the agreement or arrangement between the
        Corporation and the company, as the case may be, and the Corporation
        shall comply with any such directions.

"(6) This section does not authorize a prescribed company to carry on a
prescribed business otherwise than in accordance with the relevant law.".