New South Wales Consolidated Acts

PUBLIC AUTHORITIES (FINANCIAL ARRANGEMENTS) ACT 1987 - SECT 22K

22K Meaning of joint venture

(1) In this Act, a reference to a joint venture is a reference to an activity:

(a) carried on jointly by two or more persons, whether or not in partnership, or

(b) carried on by a body corporate formed by two or more persons for the purpose of enabling those persons to carry on that activity jointly by means of their joint control, or by means of their ownership of shares in the capital, of that body corporate,

and includes a reference to an activity or activity of a class prescribed by the regulations as being within this section, but does not include a reference to an activity or activity of a class prescribed by the regulations as not being within this section.

(2) An activity may be regarded as carried on jointly even though some or all of the persons involved carry on different aspects of the activity.