sec.23Carrying out of financial arrangements and other arrangements

### sec.23 Carrying out of financial arrangements and other arrangements The Corporation may charge any persons under financial arrangements or other arrangements undertaken for their benefit or on their behalf and may, on its own account or for their benefit or on their behalf pay for the purchase of any output or other product resulting as a consequence of or in connection with the entering into of any such arrangements. The Corporation may empower an affiliate to enter, as principal, into any transaction or arrangement related to financial arrangements or other arrangements in the same way as the Corporation itself may have done. For the purpose of performing financial arrangements or other arrangements entered into by it the Corporation may, for the purpose to which the financial arrangements or other arrangements are directed, take land within the meaning of the Acquisition of Land Act 1967 or an easement in respect of land within the meaning of that Act. Any such taking shall be under and subject to the Acquisition of Land Act 1967 and the purpose of such taking shall be deemed to be a purpose specified in the schedule of that Act which the Corporation, as a constructing authority within the meaning of that Act, may lawfully carry out. For the purpose for which the Corporation is authorised by subsection (3) to take land the Corporation may— as a constructing authority within the meaning of the Acquisition of Land Act 1967 , request the Governor in Council to exercise the powers conferred on the Governor in Council by section 5 (3) of that Act; request the Governor in Council to resume on its behalf land held from the Crown for an estate or interest less than fee simple, not being a lease, licence or permit within the meaning of the Land Act 1994 , or an easement in respect of such land under and subject to the Act under which such land is held from the Crown. If the Act referred to in subsection (5) (b) does not provide for resumption of land held under it or of an easement in respect of such land, the Land Act 1994 , chapter 5 , part 3 applies as if the land were a lease, licence or permit within the meaning of that Act and, if those provisions are considered by the Governor in Council to be inadequate for the purpose, additional or other provisions may be prescribed by regulation for such resumption and matters connected therewith and the provisions so prescribed shall apply according to their tenor. Where the Governor in Council resumes land under a request referred to in subsection (5) the Governor in Council may grant the land to the Corporation for an estate in fee simple under the Land Act 1994 subject to such reservations, trusts, terms and conditions as the Governor in Council thinks fit. The Corporation, an affiliate and each other party to financial arrangements or other arrangements may do all things authorised or required by the financial arrangements or other arrangements to be done by them respectively and all things incidental thereto and may also do such things as are necessary or convenient to be done for the purposes of carrying into effect and implementing the terms of any financial arrangement or other arrangement. s 23 amd 1994 No. 31 s 2 sch 1 ; 1995 No. 58 s 4 sch 1 ; 2003 No. 19 s 3 sch (sec.23-ssec.1) The Corporation may charge any persons under financial arrangements or other arrangements undertaken for their benefit or on their behalf and may, on its own account or for their benefit or on their behalf pay for the purchase of any output or other product resulting as a consequence of or in connection with the entering into of any such arrangements. (sec.23-ssec.2) The Corporation may empower an affiliate to enter, as principal, into any transaction or arrangement related to financial arrangements or other arrangements in the same way as the Corporation itself may have done. (sec.23-ssec.3) For the purpose of performing financial arrangements or other arrangements entered into by it the Corporation may, for the purpose to which the financial arrangements or other arrangements are directed, take land within the meaning of the Acquisition of Land Act 1967 or an easement in respect of land within the meaning of that Act. (sec.23-ssec.4) Any such taking shall be under and subject to the Acquisition of Land Act 1967 and the purpose of such taking shall be deemed to be a purpose specified in the schedule of that Act which the Corporation, as a constructing authority within the meaning of that Act, may lawfully carry out. (sec.23-ssec.5) For the purpose for which the Corporation is authorised by subsection (3) to take land the Corporation may— as a constructing authority within the meaning of the Acquisition of Land Act 1967 , request the Governor in Council to exercise the powers conferred on the Governor in Council by section 5 (3) of that Act; request the Governor in Council to resume on its behalf land held from the Crown for an estate or interest less than fee simple, not being a lease, licence or permit within the meaning of the Land Act 1994 , or an easement in respect of such land under and subject to the Act under which such land is held from the Crown. (sec.23-ssec.6) If the Act referred to in subsection (5) (b) does not provide for resumption of land held under it or of an easement in respect of such land, the Land Act 1994 , chapter 5 , part 3 applies as if the land were a lease, licence or permit within the meaning of that Act and, if those provisions are considered by the Governor in Council to be inadequate for the purpose, additional or other provisions may be prescribed by regulation for such resumption and matters connected therewith and the provisions so prescribed shall apply according to their tenor. (sec.23-ssec.7) Where the Governor in Council resumes land under a request referred to in subsection (5) the Governor in Council may grant the land to the Corporation for an estate in fee simple under the Land Act 1994 subject to such reservations, trusts, terms and conditions as the Governor in Council thinks fit. (sec.23-ssec.8) The Corporation, an affiliate and each other party to financial arrangements or other arrangements may do all things authorised or required by the financial arrangements or other arrangements to be done by them respectively and all things incidental thereto and may also do such things as are necessary or convenient to be done for the purposes of carrying into effect and implementing the terms of any financial arrangement or other arrangement. - (a) as a constructing authority within the meaning of the Acquisition of Land Act 1967 , request the Governor in Council to exercise the powers conferred on the Governor in Council by section 5 (3) of that Act; - (b) request the Governor in Council to resume on its behalf land held from the Crown for an estate or interest less than fee simple, not being a lease, licence or permit within the meaning of the Land Act 1994 , or an easement in respect of such land under and subject to the Act under which such land is held from the Crown.