Transport (Railway Infrastructure) Act, 2001
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Subsidiaries, investments, joint ventures, etc. |
12.—(1) Such functions of the Agency as it may determine may be performed by a subsidiary and, accordingly, the Agency may, with the consent of the Minister and the Minister for Finance, for the purpose of such performance, acquire or form and establish one or more subsidiaries. | |
(2) The Agency or a subsidiary may, either by itself or with another person, with the consent of the Minister and the Minister for Finance, promote and take part in the formation or establishment of a company (within the meaning of the Companies Acts, 1963 to 2001), enter into joint ventures or partnerships for the purpose of fulfilling any of its functions. | ||
(3) The Agency may, with the consent of the Minister and the Minister for Finance, acquire, hold and dispose of shares or other interests in a company and become a member of a company. | ||
(4) The memorandum and articles of association of a subsidiary shall be in such form consistent with this Act as may be determined by the Agency with the consent of the Minister and the Minister for Finance. | ||
(5) The Minister may give a direction in writing to the Agency on any matter relating to a subsidiary and the Agency shall comply or, as may be appropriate, secure compliance with the direction. | ||
(6) A direction under this section in relation to the disposal of any assets or surpluses of a subsidiary shall not be given without the consent of the Minister for Finance. | ||
(7) In this section “subsidiary” means a subsidiary (within the meaning of section 155 of the Companies Act, 1963 ) of the Agency. |