New South Wales Consolidated Acts

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Joint venture powers

181 Joint venture powers

(1) The Board may, for the purposes of such a joint venture, with the approval of the Minister--
(a) form, or participate in the formation of, a private corporation, and
(b) purchase, hold, dispose of or deal with shares in, or subscribe to the issue of shares by, any private corporation, and
(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, and
(d) do any other things that are necessary or convenient for, or incidental to, the joint venture.
(2) A corporation 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.

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