Commonwealth Consolidated Acts

ABORIGINAL AND TORRES STRAIT ISLANDER ACT 2005 - SECT 191H

General powers

  (1)   The Indigenous Land and Sea 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.

Specific powers

  (2)   The powers of the Indigenous Land and Sea Corporation under subsection   (1) include, but are not limited to, the following powers:

  (a)   to enter into contracts and agreements;

  (b)   to invest money of the Indigenous Land and Sea Corporation;

  (c)   to appoint agents and attorneys and act as an agent for other persons;

  (d)   to form, and participate in the formation of, companies;

  (e)   to subscribe for and purchase shares in, and debentures and securities of, companies;

  (f)   to enter into partnerships;

  (g)   to participate in joint ventures and arrangements for the sharing of profits;

  (h)   to accept gifts, grants, bequests and devises made to it;

  (i)   to act as trustee of money and other property vested in it on trust;

  (j)   to charge for the provision of services by it.

Trusts

  (3)   Despite anything contained in this Act, any money or other property held by the Indigenous Land and Sea Corporation on trust must be dealt with in accordance with the powers and duties of the Indigenous Land and Sea Corporation as trustee.

Extra - territorial exercise of powers

  (4)   The powers of the Indigenous Land and Sea Corporation may be exercised within or outside Australia.