Constitution and powers of the Commonwealth Development Corporation

4 Provisions supplemental to ss. 2 and 3.

(1)

Notwithstanding anything in subsections (2) and (3) of section 2 above, the Corporation shall not have power to investigate, formulate or carry out, or to give financial assistance to any other body or person for the investigation, formulation or carrying out of, any project for providing schools, colleges, hospitals, government offices, or other buildings or works for the public service, except—

(a)

in the course of carrying on, or, as the case may be, in the course of the carrying on by the other body or person of, an undertaking as a building or engineering contractor; or

(b)

in connection with an enterprise falling within any of paragraphs (a) to (i) of section 3(1) above.

(2)

For the purposes of sections 2 and 3 above and this section, any such enterprise as is mentioned in section 3(1)(b) above which is carried on wholly or mainly from a base in an overseas country shall be deemed to be an enterprise in that country.

(3)

In relation to any project for F1creating, promoting, expanding, reorganising or rationalising an enterprise falling within section 3(1)(f) above, where—

(a)

the facilities or services in question are, or will be, for purposes of communication with an overseas country, but are, or will be, located or carried on wholly or partly outside that country; and

(b)

one of the conditions specified in subsection (4) below is fulfilled,

the provisions of subsections (2) and (3) of section 2 above shall apply as those provisions would apply if the facilities or services were wholly within that overseas country.

(4)

The conditions referred to in subsection (3) above are as follows, namely—

(a)

that the overseas country mentioned in paragraph (a) of that subsection is one in or in relation to which the Corporation is entitled to perform functions without or in consequence of the Minister’s approval and the facilities or services are or will be wholly for communication between that country and one or more other overseas countries in or in relation to which the Corporation is so entitled; or

(b)

that the project mentioned in that subsection is approved by the Minister for the purposes of that subsection.

(5)

In section 2 above and in this section—

(a)

references to the giving of financial assistance are references to the giving of such assistance by the taking up of share or loan capital, or by grant, loan or otherwise;

F2(aa)

references to the reorganisation of enterprises include references to the corporate or financial reconstruction of enterprises; and

(b)

any reference to bodies or persons includes a reference to government authorities.