16
In forcePowers
Part 2Foundations generally
Division 3Functions and powers
16 Powers
(1)
A foundation has all the powers of an individual, and may, for example—
(a)
enter into contracts and agreements; and
(b)
hold and manage property; and
(c)
establish and administer trust funds; and
(d)
appoint a person to manage all or part of its funds; and
(e)
do anything else necessary or convenient to be done in performing its functions or exercising its powers.
(2)
A foundation also has the powers given to it under this Act or another Act.
(3)
However, a foundation’s powers are subject to any limitations under this Act or another Act.
This Act’s bill:Explanatory memorandumSecond reading speech
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