3Definitions

#### 3 Definitions 3 Definitions > > (1) In this Act: > > > > assets means any legal or equitable estate or interest (whether present or future and whether vested or contingent) in real or personal property of any description (including money), and includes securities, choses in action and documents. > > > > Corporation means the statutory State owned corporation constituted by this Act. > > > > exercise a function includes perform a duty. > > > > function includes a power, authority or duty. > > > > liabilities means any liabilities, debts or obligations (whether present or future and whether vested or contingent). > > > > Ministerial Development Corporation means the Ministerial Development Corporation constituted by the [Growth Centres (Development Corporations) Act 1974](/view/html/inforce/current/act-1974-049). > > > > rights means any rights, powers, privileges or immunities (whether present or future and whether vested or contingent). > > > > urban development includes the expansion, establishment and re-development of urban areas. > > > (2) Words and expressions used in this Act and also the [State Owned Corporations Act 1989](/view/html/inforce/current/act-1989-134) have the same meanings in this Act as they have in that Act.