New South Wales Consolidated Acts

HOUSING ACT 2001 - SECT 61

61 Powers in relation to formation of and interests in corporations

(1) The Corporation, with the approval of the Minister and for the purpose of furthering the objects of this Act:

(a) may form, or participate in the formation of, private corporations, and

(b) may acquire interests in private corporations, and

(c) may sell or otherwise dispose of interests in private corporations.

(2) The Minister must not give such an approval except with the concurrence of the Treasurer.

(3) The concurrence of the Treasurer may be given unconditionally or subject to conditions.

(4) The regulations may make provision for or with respect to requirements to be met before the concurrence of the Treasurer is given. Such a regulation may be made only on the recommendation of the Treasurer.

(5) The Treasurer may require the Minister and the Corporation to provide information to enable the Treasurer to determine whether to give concurrence under this section.

(6) The Corporation is to comply with any conditions to which the concurrence of the Treasurer is subject and is to ensure that any subsidiary corporation to which the concurrence relates complies with any such condition.

(7) A subsidiary corporation is not, and does not represent, the Crown.

(8) Schedule 2 has effect.