13Establishment of Ports Assets Ministerial Holding Corporation

13 Establishment of Ports Assets Ministerial Holding Corporation

13 Establishment of Ports Assets Ministerial Holding Corporation

(1) There is constituted by this Act a corporation with the corporate name of the Ports Assets Ministerial Holding Corporation.

(2) The Corporation is a statutory body representing the Crown.

(3) The affairs of the Corporation are to be managed by the Treasurer who may authorise another Minister to exercise functions in relation to particular assets, rights and liabilities.

(4) Any act, matter or thing done in the name of, or on behalf of, the Corporation by the Treasurer or a Minister authorised by the Treasurer, or with the authority of the Treasurer or any such Minister, is taken to have been done by the Corporation.

(5) The Corporation has the functions conferred or imposed on it by or under this or any other Act.

(6) The functions of the Corporation are—

(a) to hold, on behalf of the Crown, ports assets acquired by it or transferred to it, and

(b) to carry on any activities or business that relate to any ports assets held by it, including demanding, collecting and receiving charges, levies, rates and fees, and

(c) such other functions for the purposes of an authorised transaction as may be prescribed by the regulations.