Document ID: chunk:federal_register_of_legislation:C2004A05288:clause:1_55m
Version: federal_register_of_legislation:C2004A05288
Segment Type: clause
Provision Reference: sch 1 cl 55M
Character Range: 45861–47243

55M  Subsidiaries of nominated company A may perform functions corresponding to nominated company A's objects

 (1) Nominated company A may make an arrangement with a wholly‑owned subsidiary of nominated company A (other than nominated company B) about the performance by the subsidiary of functions corresponding to one or more of nominated company A's objects.

 (2) An arrangement may provide:
 (a) for nominated company A to make loans to the subsidiary; or
 (b) for nominated company A to guarantee loans made to the subsidiary; or
 (c) for the staff of nominated company A to be made available to the subsidiary.

 (3) Subsection (2) does not limit subsection (1).

 (4) An arrangement may relate to a particular object either generally or as otherwise provided by the arrangement.

 (5) The making of an arrangement about an object does not prevent nominated company A from carrying out that object.

 (6) Nominated company A is to have such wholly-owned subsidiaries as it considers necessary for the purposes of this section.

 (7) This section does not, by implication, limit the powers of nominated company A to:
 (a) make loans to a wholly-owned subsidiary of nominated company A; or
 (b) guarantee loans made to a wholly-owned subsidiary of nominated company A; or
 (c) make staff of nominated company A available to a wholly‑owned subsidiary of nominated company A.