60. Application of the Act to subsidiaries of the Corporation

Subject to subsections (2), (3) and (4), Parts IV, V, VII, VIII and X of this Act shall apply to every subsidiary of the Corporation prescribed under subsection (2) as if the subsidiary is the Corporation itself.

The Minister may, on the recommendation of the Corporation, by notification in the Gazette, prescribe such subsidiaries of the

Subsection (1) shall immediately cease to apply when a subsidiary prescribed under subsection (2) is no longer a subsidiary of the Corporation.

Where a subsidiary does not carry on activities pursuant to the objectives of the Corporation, the Corporation shall inform the

The Minister may, upon being informed by the Corporation under subsection (4) or upon being otherwise satisfied that a

The notice of revocation under subsection (5) may contain such transitional provisions as the Minister thinks fit.