60Power to enter into joint ventures

60 Power to enter into joint ventures

60 Power to enter into joint ventures

(cf Act No 7, 1912, ss 16, 16A)

(1) The Corporation may, with the approval of the Minister, enter into a joint venture with other persons or bodies for any of the following purposes—

(a) the acquisition, development, management or disposal of land for residential, business, public or other purposes,

(b) the provision of services and products in relation to the provision of housing or to the housing industry,

(c) implementing the objects of this Act.

(2) The Corporation must not enter into a joint venture with a public authority constituted by or under an Act without the concurrence of the Minister administering that Act and the approval of the Treasurer.

(3) The Treasurer may require the Minister and the Corporation to provide information to enable the Treasurer to determine whether to give a financial arrangement approval under the Government Sector Finance Act 2018 in relation to the joint venture or to grant concurrence under subsection (2).

(4) The Corporation is to comply with any conditions to which the approval or concurrence of the Treasurer is subject.

(5) Despite anything in any other Act, any public authority constituted by or under an Act is authorised and has power to enter into a joint venture referred to in this section and may do or suffer anything necessary or convenient for, or incidental to, carrying out the joint venture.

Note.

Part 6 of the Government Sector Finance Act 2018 requires a GSF agency under that Act, before entering into a joint venture arrangement, to obtain a financial arrangement approval for the arrangement unless the arrangement is authorised by a provision of that Act or the regulations or Treasurer’s directions under that Act.

s 60: Am 2018 No 70, Sch 3.33 [3] [4].