Commonwealth Consolidated Acts Commonwealth Consolidated ActsFormation of company etc.
(1) The Commonwealth may form, or participate in the formation of, a company if, were it to come into existence, the company would be a company:
(a) that is specified in the regulations; and
(b) whose objects or proposed activities are specified in the regulations.
Acquisition of shares in company etc.
(2) The Commonwealth may acquire shares in, or become a member of, a company in circumstances that would result in the company becoming a Commonwealth company if:
(a) the company is specified in the regulations; and
(b) the company's objects or proposed activities are specified in the regulations.
Finance Minister's power
(3) A power conferred on the Commonwealth by subsection (1) or (2) may be exercised on behalf of the Commonwealth by the Finance Minister.
Note: For the power to delegate, see section 40.
Definitions
(5) In this section:
"acquire" includes acquire by subscription.
"Commonwealth company" has the same meaning as in the Public Governance, Performance and Accountability Act 2013 .