Document ID: chunk:federal_register_of_legislation:C2024C00189:section:39b
Version: federal_register_of_legislation:C2024C00189
Segment Type: section
Provision Reference: s 39B
Character Range: 10276–11367

39B  Supplementary powers to form companies etc.

Formation 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.