Home Building Finance Ireland Act 2018

Group entities of HBFI

6. (1) HBFI may, with the consent of the Minister, either by itself or with other persons, promote, take part in the formation of, or acquire a shareholding in, a HBFI group entity.

(2) A HBFI group entity constitutional document shall be in such form, consistent with this Act, as may be approved of by HBFI.

(3) A HBFI group entity shall make such reports to HBFI as HBFI may require.

(4) Neither HBFI nor any HBFI group entity shall guarantee the borrowings or liabilities of any of their subsidiaries without the prior consent of the Minister.

(5) HBFI may, with the prior consent of the Minister, and subject to any conditions as the Minister may determine, wind up any HBFI group entity.

(6) In this section, “HBFI group entity constitutional document” means the constitution, memorandum of association, articles of association, trust deed, partnership agreement or other document providing for the establishment and governance of a HBFI group entity.