South Australian Current Regulations

PUBLIC CORPORATIONS (STUDYADELAIDE) REGULATIONS 2023 - REG 16

16—Subsidiary companies

        (1)         The subsidiary must not, without the approval of the Treasurer—

            (a)         form a subsidiary company; or

            (b)         acquire, or enter into any arrangement under which it will at a future time or would on the happening of some contingency hold, relevant interests in shares in a company such that the company becomes a subsidiary of the subsidiary.

        (2)         The Treasurer may, as a condition of approval under this regulation, or by direction, require the subsidiary to take steps to include in a subsidiary company's constitution such provisions as the Treasurer considers appropriate—

            (a)         imposing limitations on the nature or scope of the company's operations; or

            (b)         imposing other controls or practices,

consistent with those applicable to the subsidiary.