274—Investigation of subsidiary
(1) If the Minister
has reason to believe that—
(a)
irregularities or difficulties may exist in the management of a subsidiary or
the administration of the affairs of a subsidiary; or
(b) a
subsidiary has acted outside its charter (see Schedule 2); or
(c) a
subsidiary may have breached this Act or another law; or
(d) some
other form of irregularity has occurred in the conduct or management of the
affairs of a subsidiary; or
(e) some
other matter has arisen in relation to the subsidiary that justifies
consideration or investigation under this section,
the Minister may refer the matter to the relevant council or councils for
investigation and report.
(a) the
council or councils do not provide a report to the Minister under
subsection (1) within a period specified by the Minister; or
(b) the
Minister is not satisfied with the outcome of a report to the Minister under
subsection (1),
the Minister may refer the matter to the Ombudsman for investigation and
report.
(3) Before referring a
matter, the Minister must give the subsidiary a reasonable opportunity to
explain its actions and make submissions unless the Minister considers that
the giving of notice would be likely to undermine the investigation of the
matter.