Integrated Resort Development Act 1987
sec.148Miscellaneous powers of principal body corporate
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sec.148 Miscellaneous powers of principal body corporate
The principal body corporate may do any of the following— invest any moneys held by it in any manner permitted by law for the investment of trust funds or in any prescribed investment; borrow moneys and secure the repayment thereof and of any interest in such manner as may be agreed upon by the principal body corporate and the lender; enter into an agreement for the provision of amenities or services by it or any other person to any lot or to the proprietor or occupier thereof or to any parcel comprised in a building units plan or a group titles plan; acquire and hold any personal property to facilitate the carrying out of its duties; employ staff to perform its functions. s 148 amd 2004 No. 53 s 2 sch ; 2009 No. 26 s 33
- (a) invest any moneys held by it in any manner permitted by law for the investment of trust funds or in any prescribed investment;
- (b) borrow moneys and secure the repayment thereof and of any interest in such manner as may be agreed upon by the principal body corporate and the lender;
- (c) enter into an agreement for the provision of amenities or services by it or any other person to any lot or to the proprietor or occupier thereof or to any parcel comprised in a building units plan or a group titles plan;
- (d) acquire and hold any personal property to facilitate the carrying out of its duties;
- (e) employ staff to perform its functions.