Barrister AI
All legislation
SAAct
In force
Held text is as at 7 May 2020. Later incorporated or unincorporated amendments may not yet appear.Check the official source before relying on current wording →
s 5

Functions and powers

In force

5 Functions and powers

(1)

The Institution has, in addition to any other powers conferred on it under this or any other Act, all the powers of a natural person.

(2)

Without limiting subsection (1), in exercising its functions and powers, the Institution may—

(a)

grant, receive, acquire, purchase and hold land; and

(b)

purchase, accept, acquire, hold, mortgage, let, lease, demise, sell, exchange, transfer, convey, assign, alienate, dispose of and deal with property; and

(c)

act as the trustee of other funds, accept gifts or donations from a person or body and otherwise receive money or property from a lawful source, including gifts or donations subject to trusts that are not inconsistent with the objects of the Institution; and

(d)

manage money or other property as the Institution thinks fit and, in doing so, combine funds or other property (including funds or other property subject to separate trusts or held for separate purposes), subject to complying with relevant accounting standards and being able, as appropriate, to separately account for different classes of funds and other property;

and

(e)

apply a benefit, or provide assistance, to persons either directly or indirectly through a third party involved in the provision of services or financial or other support; and

(f)

build on or improve land for the time being owned by or under the control of the Institution; and

(g)

do any other thing necessary or convenient to further its objects.

Research tools for this sectionPro

The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.