South Australian Consolidated Acts

SOUTH AUSTRALIAN HOUSING TRUST ACT 1995 - SECT 32

32—Formation of subsidiaries

        (1)         The Governor may, by regulation, establish a subsidiary of SAHT.

        (2)         Regulations establishing a subsidiary—

            (a)         must name the body; and

            (b)         must provide for the constitution of a board of management as the body's governing body; and

            (c)         must specify the functions of the body; and

            (d)         may limit the powers of the body; and

            (e)         may specify procedures that will be followed in the event of a proposal to dissolve the body; and

            (f)         may make other provisions (not inconsistent with this Act) that in the opinion of the Governor are necessary or expedient for the purposes of the body.

        (3)         A subsidiary—

            (a)         is a body corporate; and

            (b)         subject to a limitation imposed by or under an Act or the regulations, has all the powers of a natural person together with the powers specifically conferred on SAHT, or on the subsidiary specifically, by or under this Act or other Acts.

        (4)         The Governor may, by regulation—

            (a)         alter the name of a subsidiary; or

            (b)         vary the constitution of the board of management of a subsidiary; or

            (c)         alter the functions of a subsidiary; or

            (d)         alter or limit the powers of a subsidiary; or

            (e)         make other provisions (not inconsistent with this Act) that in the opinion of the Governor are necessary or expedient for the purposes of the subsidiary.

        (5)         The Governor may, by regulation—

            (a)         dissolve a body established under this section; and

            (b)         transfer the assets, rights and liabilities of a body dissolved under this provision (either as a whole or in separate parcels specified by regulation)—

                  (i)         to the Minister; or

                  (ii)         to SAHT or another subsidiary of SAHT; or

                  (iii)         to a statutory corporation; or

                  (iv)         to the Crown, or to another agent or instrumentality of the Crown (not established under this Act); or

                  (v)         with the agreement with the person or body—to a person or body that is not an agent or instrumentality of the Crown; and

            (c)         make other provisions that in the opinion of the Governor are necessary or expedient in connection with the dissolution of the body.

        (6)         However, if a regulation is in force under paragraph (e) of subsection (2) in respect of the subsidiary, a subsidiary must not be dissolved unless the Governor is satisfied that any relevant procedure prescribed under that paragraph has been followed.

        (7)         If a regulation establishing a subsidiary under this section is disallowed by either House of Parliament, the assets, rights and liabilities of the subsidiary become assets, rights and liabilities of SAHT.

        (8)         Unless the contrary intention appears and subject to such modifications or exclusions as may be necessary for the purpose, or as may be prescribed, a reference in the other Parts of this Act to SAHT will be taken to include a reference to a subsidiary of SAHT.