|
|
Establishment of companies by Authority.
|
36.—(1) The Authority may, either by itself or with another person, with the consent of the Minister and the Minister for Finance, and subject to any conditions of either of those Ministers, promote and take part in the formation or establishment of a company—
|
|
| |
(a) to perform any of the functions conferred upon it by this Act,
|
|
| |
(b) to operate a totalisator, or
|
|
| |
(c) for the sole purpose of carrying on business as a bookmaker.
|
|
| |
(2) The Authority may exercise total or partial control of the board of directors, by whatever name called, of a company of the Authority that controls or manages the company.
|
|
| |
(3) The memorandum and articles of association of a company of the Authority shall be in such form consistent with this Act as may be approved of by the Authority.
|
|
| |
(4) A company of the Authority shall make such reports and in such manner to the Authority as it may require.
|
|
| |
(5) A company of the Authority may enter into joint ventures with other persons.
|
|
| |
(6) The chief officer of a company of the Authority shall hold office on and subject to such terms and conditions (including terms and conditions relating to remuneration) as may be approved of by the board of directors (or other authority, by whatever name called, that controls any such company) with the consent of the Minister and the Minister for Finance.
|
