Commonwealth Numbered Acts

DAIRY PRODUCE ACT 1986 No. 54 of 1986 - SECT 11

11. (1) In this section, "prescribed business" means a business relating to
any matter that is within the functions or duties of the Corporation or with
respect to which the Corporation may exercise powers.

(2) The Corporation may, with the approval, in writing, of the Minister-

   (a)  form, or participate with other persons in the formation of, a
        company;

   (b)  acquire, hold or dispose of shares or stock in the capital of, or
        debentures or other securities of, a company; or

   (c)  enter into a partnership, or arrange for the sharing of profits, with
        a company.

(3) The approval may be subject to such conditions as the Minister thinks fit.

(4) Except in the case of a disposal of the kind referred to in paragraph (2)
(b), the Minister shall not give an approval referred to in sub-section (2) if
the company to which the approval relates is carrying on a business other than
a prescribed business or it is proposed that the company carry on a business
other than a prescribed business.

(5) An agreement or arrangement between the Corporation and a company shall
include a term empowering the Corporation to terminate the agreement or
arrangement if the company ceases to carry on a prescribed business or
commences to carry on a business that is not a prescribed business.

(6) Where-

   (a)  the Corporation has an interest in, or is a party to an agreement or
        arrangement with, a company; and

   (b)  the company does not carry on a prescribed business or is carrying on
        a business that is not a prescribed business, the Minister may give to
        the Corporation such directions, in writing, as the Minister thinks
        appropriate with respect to-

   (c)  the disposal of the interest of the Corporation in the company; or

   (d)  the termination of the agreement or arrangement between the
        Corporation and the company, as the case may be.

(7) This section does not authorise a company to carry on a prescribed
business otherwise than in accordance with the relevant law.