Investment in companies and powers of control and management

General202690 sections

Statutory text

(1) The Authority shall have the power to infuse capital in its project companies, special purposes vehicles or joint venture companies by subscribing to the share capital or by grant of loans by way of debentures or bonds or other recognised securities, for purposes of enabling such project companies, special purposes vehicles or joint venture companies to carry out their objects, functions and obligations.
(2) The Authority shall have the power to exercise control and management over its project companies, special purpose vehicles and joint venture companies and retain such control and management even in the case of partial divestment by the Authority in such project companies, special purposes vehicles and/or joint venture companies, in such manner as may be prescribed.
(3) The powers of control and management of the Authority in respect of its project companies, special purposes vehicles or joint venture companies shall be incorporated by way of special provisions in their incorporation documents including but not limited to memorandum of association and articles of association.

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