1. Duty, power or right of subsidiary of the Corporation.

Nothing in section 12 shall be construed as giving power to the Corporation to make regulations to establish any subsidiary of the Corporation having any duty, power, or right which is not included in the duties, powers or rights of the Corporation under this Enactment.

2. Subsidiary of Corporation bound by regulations.

Subject to the provisions of this Enactment and any regulations made under section 12, any subsidiary of the Corporation shall be bound by any regulation made in respect thereof and such regulations shall be in force for all purposes as if the same were enacted in this Enactment.

3. Amendment of regulations.

The Corporation may with the approval of the Majlis at any time amend, revoke, or add to any regulations made in respect of any subsidiary of the Corporation under section 12.

4. Register of subsidiaries of Corporation.

The Corporation shall keep a register of all the subsidiaries of the Corporation established under section 12 and the resister together with all the of regulations made under section 12 shall be open for inspection by the public at such place or places and at such time as may be decided by the Corporation.

5. Winding-up.

(1) The Corporation may with the approval of the Minister by order published in the Gazette direct that any subsidiary of the Corporation established by it be wound up and dissolved.

(2) Whenever a subsidiary of the Corporation is wound up and dissolved under this paragraph, the assets of the subsidiary of the Corporation shall he transferred to and vest in the Corporation after all liabilities have been discharged.

(3) The winding up of any subsidiary of the Corporation under this para­graph shall be carried out in such manner as may be determined by the Corpora­tion.

6. Body corporate.

Every subsidiary of the Corporation established by the Corporation shall be a body corporate and shall have perpetual succession and a common seal and, for the purposes of discharging its duties and carrying out its functions, may enter into contracts, hold, transact or deal in or with any movable or immovable property and may do such other acts and things not inconsistent with the provisions of this Enactment, which are incidental to or connected with a body corporate, and subject to such restrictions and limitations as may be determined by the Corporation in each case.

7.Common seal.

(1) Every subsidiary of the Corporation shall have a common seal which shall bear such device as the subsidiary, with the approval of the Corpora­tion, may approve and such seal may from time to time be broken, changed, altered or made anew as the subsidiary, with the approval of the Corporation, may think fit.

(2) Until a seal is provided by the subsidiary of the Corporation, a stamp bearing the name of the subsidiary may be used and shall be deemed to be the common seal of the subsidiary of the Corporation.

(3) The common seal shall be kept in the custody of such person as may be authorised by the subsidiary of the Corporation, and shall be authenticated by such person; and all deeds, documents and other instruments purporting to be sealed with the said seal, authenticated as aforesaid, shall, until the contrary is proved, be deemed to have been validly executed:

Provided that any document or instrument which if executed by a person not being a body corporate would not be required to be under seal may in like manner be executed by the subsidiary of the Corporation; and any such document or instrument may be executed on behalf of the subsidiary of the Corporation by any officer or servant of the subsidiary generally or specially authorised by the subsidiary in that behalf.

(4) The common seal of every subsidiary of the Corporation shall be officially and judicially noticed.


CERTIFIED by me to be a true copy of the Bill passed by the Legislative Assembly on Tuesday the 17th day of November, 1998.