(1) The Authority may, either by itself or with another person, with the consent of the Minister and the Minister for Public Expenditure and Reform, and subject to any conditions of the Minister, promote and take part in the formation or establishment of a subsidiary to perform any of the functions conferred upon it by this Act.

(2) The Authority may exercise total or partial control of the board of directors, by whatever name called, of a subsidiary that controls or manages the subsidiary.

(3) The memorandum and articles of association of a subsidiary shall be in such form consistent with this Act as may be approved of by the Authority with the consent of the Minister and the Minister for Public Expenditure and Reform.

(4) A subsidiary shall make such reports and in such manner to the Authority as it may require.

(5) A subsidiary may enter into joint ventures with other persons.