157A Other multi-parent subsidiaries

(1)

This section applies to a multi-parent subsidiary other than a multi-parent subsidiary to which section 157 applies.

(2)

The multi-parent subsidiary need not comply with this subpart except as required under this section.

(3)

The Minister of Finance may, by notice in writing, require the multi-parent subsidiary to prepare 1 or more statements or reports (as defined in section 156A(4)).

(4)

A notice must specify—

(a)

which statements or reports are required; and

(b)

the financial years or other period (which may be until further notice) for which each statement or report is required.

(5)

Before issuing a notice, the Minister of Finance must—

(a)

consider the operations and functions of the multi-parent subsidiary; and

(b)

consult the responsible Minister for each parent Crown entity of the multi-parent subsidiary; and

(c)

be satisfied that each statement or report is necessary or desirable to enhance public accountability of the multi-parent subsidiary.

Section 157A: inserted, on 1 July 2014, by section 68 of the Crown Entities Amendment Act 2013 (2013 No 51).