New South Wales Consolidated Acts

LANDLORD AND TENANT (RENTAL BONDS) ACT 1977 - SECT 7B

7B Joint venture powers

(1) For the purposes of such a joint venture, the Board may, with the approval of the Minister:

(a) join in the formation of any company to be incorporated in the State,

(b) purchase, hold, dispose of or deal with shares in, or subscribe to the issue of shares by, any company incorporated in the State,

(c) make advances of money or provide other financial accommodation to any person or body (whether or not incorporated) participating in the joint venture or acting for or on behalf of the joint venture,

(d) do such other things as are necessary or convenient for, or incidental to, the joint venture.

(2) A company in which the Board has a controlling interest because of its shareholding in the capital of the company is not and does not represent the Crown.