Document ID: chunk:federal_register_of_legislation:C2004A05288:clause:1_55c
Version: federal_register_of_legislation:C2004A05288
Segment Type: clause
Provision Reference: sch 1 cl 55C
Character Range: 36800–37394

55C  Formation of nominated company A

 (1) The Board may, with the written permission of the Minister:
 (a) arrange for the formation of a company; or
 (b) acquire shares in a company that has not yet traded.

 (2) The Minister must not give permission under subsection (1) in relation to a company unless:
 (a) the Minister proposes to declare the company to be nominated company A; and
 (b) the company is, or is to be, incorporated under the Corporations Law; and
 (c) the company has, or is to have, a share capital; and
 (d) the company is to be a wholly-owned subsidiary of the Board.