Commonwealth Consolidated Acts

AUSTRALIAN INSTITUTE OF MARINE SCIENCE ACT 1972 - SECT 10

  (1)   Subject to any directions of the Minister, whether general or with respect to a particular matter, the Institute has power to do all things necessary or convenient to be done for or in connection with the performance of its functions.

  (2)   Without limiting the generality of subsection   ( 1), the powers of the Institute referred in that subsection include power:

  (a)   to enter into contracts;

  (b)   to acquire, hold and dispose of personal property;

  (ba)   to take on hire, or to accept on loan, equipment (including vessels) or other goods needed for the purposes of the Institute;

  (bb)   to lend or to hire out equipment (including vessels) or other goods that are the property of the Institute;

  (c)   to purchase or take on lease land or buildings, and to erect buildings, necessary for the purposes of the Institute;

  (d)   to dispose of, or grant leases of, land or buildings vested in the Institute;

  (e)   to occupy, use and control any land or building owned or held under lease by the Commonwealth and made available for the purposes of the Institute;

  (f)   to participate in partnerships, trusts, unincorporated joint ventures and other arrangements for sharing profits;

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

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

  (ha)   to lend money to associated companies of the Institute;

  (hb)   with the written approval of the Finance Minister, to provide guarantees for the benefit of associated companies of the Institute;

  (i)   to appoint agents and attorneys, and to act as agents for other persons;

  (j)   to accept anything given or transmitted to the Institute whether on trust or otherwise, and to act as trustee of money or other property vested in the Institute on trust;

  (k)   to arrange for displaying material and giving lectures, to the public or otherwise, about:

  (i)   marine science and marine technology; and

  (ii)   the application and use of marine science and marine technology.

  (3)   Notwithstanding anything contained in this Act, any money or property held by the Institute upon trust shall be dealt with in accordance with the powers and duties of the Institute as trustee.

  (4)   The Governor - General may make available, for the purposes of the Institute, any land or buildings owned or held under lease by the Commonwealth.