Financial Framework (Supplementary Powers) Amendment Act 2024 (27 of 2024)

Schedule 1   Amendments

Part 1   Main amendments

Financial Framework (Supplementary Powers) Act 1997

4   Subsections 39B(1) and (2)

Repeal the subsections, substitute:

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.