14
In forceFunctions
Part 2Foundations generally
Division 3Functions and powers
14 Functions
The functions of a foundation are as follows—
(a)
to pursue the registered objects of the foundation;
(b)
to manage property held by the foundation, including income generated by the holding of property—
(i)
to achieve the foundation’s registered objects; and
(ii)
to cover costs or expenses associated with the administration of the foundation;
(c)
another function given to the foundation under this Act or another Act.
This Act’s bill:Explanatory memorandumSecond reading speech
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