Voluntary Health Insurance (Amendment) Act 2008
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Board may form and establish or acquire subsidiaries to perform functions referred to in section 7(c). |
17.— (1) Without prejudice to the generality of section 8 , the Board may, on or after the authorisation date, for the purpose of performing any one or more of its functions referred to in section 7 (c)— | |
(a) form and establish or acquire one or more subsidiaries, and | ||
(b) acquire, hold and dispose of shares or other interests in a company and become a member of a company. | ||
(2) For the purposes specified in subsection (1), the Board or a subsidiary referred to in that subsection may, either by itself or with another person, promote and take part in the formation and establishment or the acquisition of a company, or enter into a joint venture or partnership. | ||
(3) The memorandum and articles of association of a subsidiary referred to in subsection (1)— | ||
(a) shall be in such form as is consistent with the Voluntary Health Insurance Acts 1957 to 2008 as may be determined by the Board, and | ||
(b) may include all such objects and powers as are reasonably necessary or proper for, or incidental or ancillary to, the due attainment of the principal objects of the subsidiary, consistent with the Voluntary Health Insurance Acts 1957 to 2008. |