35Restrictions on financial transactions

35 Restrictions on financial transactions

(1) The Commission shall not, without the approval of the Minister: (a) acquire any property, right or privilege for a consideration exceeding in amount or value $250,000 or, if a higher amount is prescribed, that higher amount; (b) dispose of any property, right or privilege where the amount or value of the consideration for the disposal, or the value of the property, right or privilege, exceeds $250,000 or, if a higher amount is prescribed, that higher amount; (c) enter into a contract for the construction of a building for the Commission, being a contract under which the Commission is to pay an amount exceeding $250,000 or, if a higher amount is prescribed, that higher amount; or (d) enter into a lease of land for a period exceeding 10 years. (2) Paragraphs (1)(a) and (b) do not apply to: (a) transactions relating to the making, promotion, distribution or broadcasting of programs; or (b) the investment of money by the Commission under section 18 of the Commonwealth Authorities and Companies Act 1997.