Urban Renewal Act 1995

The Minister may—

sue and be sued;

acquire, hold, deal with and dispose of real and personal property (or an interest in real or personal property), and grant or hold a lease or licence;

acquire, hold, deal with and dispose of shares in, or securities issued by, another body corporate, or participate in the formation of another body;

after consultation with the Treasurer, borrow money and obtain other forms of financial accommodation;

establish and operate ADI accounts and invest money;

enter into any kind of contract or arrangement;

undertake projects and enter into joint ventures;

after consultation with the Treasurer—

grant a mortgage or charge over an asset of the

Minister;

enter into a contract of guarantee or indemnity;

issue debentures or promissory notes that are charged over specified assets of the Minister;

issue inscribed debenture stock in accordance with a scheme prescribed by the regulations;

exercise other powers that are necessary, expedient or incidental to the functions of the Minister or the Department.

The liabilities of the Minister are guaranteed by the

Treasurer.

The Governor may, by proclamation—

transfer an asset, right or liability to the

Minister;

transfer an asset, right or liability of the Minister—

to the Crown; or

to an agent or instrumentality of the Crown.

A proclamation under subsection (3) providing for the transfer of an asset, right or liability of the Minister may make other provisions that in the opinion of the Governor are necessary or expedient in connection with the transfer.