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Group entities of HBFI
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6. (1) HBFI may, with the consent of the Minister, either by itself or with other persons, promote, take part in the formation of, or acquire a shareholding in, a HBFI group entity.
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(2) A HBFI group entity constitutional document shall be in such form, consistent with this Act, as may be approved of by HBFI.
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(3) A HBFI group entity shall make such reports to HBFI as HBFI may require.
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(4) Neither HBFI nor any HBFI group entity shall guarantee the borrowings or liabilities of any of their subsidiaries without the prior consent of the Minister.
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(5) HBFI may, with the prior consent of the Minister, and subject to any conditions as the Minister may determine, wind up any HBFI group entity.
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(6) In this section, “HBFI group entity constitutional document” means the constitution, memorandum of association, articles of association, trust deed, partnership agreement or other document providing for the establishment and governance of a HBFI group entity.
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