Acquisition of securities and control of subsidiaries
98Acquisition of securities and promotion of body corporate
(1)The Corporation may with the consent of the Secretary of State—
(a)subscribe for or acquire securities of a body corporate, and
(b)promote or participate in the promotion of a body corporate.
(2)In this section " securities " means shares, stock, debenture stock and other securities of a like nature.
99Control of subsidiaries
(1)The Corporation shall exercise its control over its subsidiaries so as to secure that no subsidiary—
(a)engages in an activity which the Corporation is not empowered to carry on, or
(b)engages in an activity in a manner in which the Corporation itself could not engage by reason of a direction given to it under section 76 (directions by Secretary of State).
(2)The Corporation shall also exercise its control over its subsidiaries so as to secure that no subsidiary of its—
(a)borrows money from a person other than the Corporation, or
(b)raises money by the issue of shares or stock to a person other than the Corporation,
without the consent of the Secretary of State.