137Limitation on contracts and leases

137 Limitation on contracts and leases

(1) Except as otherwise provided by the regulations, the Commission shall not, without the approval of the Minister: (a) enter into a contract under which the Commission is to pay or receive an amount exceeding $250,000 or, if a higher amount is prescribed, that higher amount; or (b) enter into a lease of land for a period exceeding 10 years. (2) In paragraph (1)(a):

contract does not include an agreement entered into under subsection 120(3) or 121(1) or an agreement entered into in the exercise of a power conferred by subsection 18(3) of the Commonwealth Authorities and Companies Act 1997.