Australian Capital Territory Numbered Acts

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CULTURAL FACILITIES CORPORATION ACT 1997 (NO. 48 OF 1997) - SECT 9

Companies, partnerships and joint ventures

9. (1) The Corporation shall not, without the written approval of the Minister—

        (a)     form, or participate in the formation of, a company;

        (b)     subscribe for, or purchase, company shares or securities;

        (c)     enter into a partnership; or

        (d)     participate in a joint venture.

(2) The Minister's approval—

        (a)     may be given particularly or generally; and

        (b)     may be expressed to be subject to conditions specified in the approval.

(3) Where the Corporation enters into a partnership or participates in a joint venture for which the Minister has given particular approval, the Minister shall—

        (a)     cause to be prepared a statement setting out particulars of, and the reasons for, the partnership or joint venture; and

        (b)     cause a copy of the statement to be laid before the Legislative Assembly with the next report given to him or her under subsection 29 (1).

Division 2—Membership



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