Functions of Ministerial Development Corporation
23F Functions of Ministerial Development Corporation
The Ministerial Development Corporation is responsible for the management and disposal of the remaining assets, rights and liabilities of a dissolved development corporation.
Without limiting the generality of subsection (1), the Ministerial Development Corporation, for the purposes of that subsection—
has, in relation to the assets, rights and liabilities of the dissolved development corporation that are transferred to it, the same powers, authorities and functions of that development corporation under sections 8–13, 18, 19 and 21, and
may, with the concurrence of the Treasurer, transfer any of its assets, rights and liabilities to the Crown or to any other person on behalf of the Crown.
The Ministerial Development Corporation has such other functions as may be conferred or imposed on it by or under this or any other Act.
In this section, dissolved development corporation means a development corporation which is dissolved by an order under section 5 (1) (b).
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