7Powers

##### 7 Powers (1) The Organisation has power to do all things necessary or convenient to be done for the performance of its functions. (2) Without limiting subsection (1), the Organisation may: (a) enter into agreements for the carrying out of research and development activities by other persons; or (b) make applications, including joint applications, for patents or trade marks; or (c) deal with patents or trade marks vested in the Organisation or in the Organisation and other persons; or (d) buy and sell wool only for use in technical development projects in which the Organisation is participating together with wool processors or manufacturers; or (e) with the written approval of the Minister: (i) form, or participate with other persons in the formation of, a company; or (ii) acquire, hold or dispose of shares or stock in the capital of, or debentures or other securities of, a company; or (iii) enter into a partnership, or arrange for the sharing of profits, with a company. (3) The reference in subparagraph (2)(e)(iii) to profits does not include profits derived from an agreement relating to an invention, a patent or a trade mark.