Document ID: chunk:federal_register_of_legislation:C2024C00635:section:8
Version: federal_register_of_legislation:C2024C00635
Segment Type: section
Provision Reference: s 8
Character Range: 15251–16611

8  Powers of Corporation
 (1) The Corporation has power to do all things that are necessary or convenient to be done for, or in connection with, the performance of its functions and, in particular, may:
 (a) acquire, hold and dispose of real or personal property; and
 (b) enter into contracts; and
 (c) occupy, use and control any land or building owned or leased by the Commonwealth and made available for the purposes of the Corporation; and
 (d) appoint agents and attorneys; and
 (e) do anything incidental to any of its powers.
 (2) The power of the Corporation to enter into contracts includes the power to enter into a contract with a person under which that person will administer the Fund on behalf of the Board.
 (3) Except with the written consent of the Minister, the Corporation must not enter into a contract under which, or as a result of which, the Corporation would or might be liable to pay, in respect of any one transaction, any commission, brokerage or fee exceeding $100,000 or, if a higher amount is prescribed, that higher amount.
 (4) Without derogating from the obligation of the Corporation to comply with subsection (3), the validity of a contract is not affected merely because the contract was entered into in contravention of that subsection.

Part 3—Board of Directors of the Corporation

Division 1—Constitution of the Board