10Powers of bodies corporate

10 Powers of bodies corporate

10 Powers of bodies corporate

(1) A body corporate created by this Act has all of the powers of a natural person, including (without limiting the scope of those powers) the power—

(a)

(i) to purchase, take on lease or acquire by gift, devise, bequest, exchange or otherwise any real or personal property, and

(ii) by itself or by any servant or agent authorised in writing in that behalf under its common seal to deal with and dispose of moneys, choses in action and choses in possession at any time vested in it or in any person on its behalf, and

(iii) by itself or by any servant or agent authorised in writing in that behalf under its common seal to draw, make, accept, endorse and discount promissory notes, bills of exchange and other negotiable or transferable securities or instruments, and

(iv) to do and perform all such acts, matters and things and make and execute all such contracts, documents, writings and assurances as in its opinion are or may be for its benefit or the benefit of the Church,

(b) in relation to any community land at any time vested in it or in relation to any other land (being land, situated outside New South Wales, for the time being subject to any trust created before or after the commencement of this Act, or after the commencement of the Roman Catholic Church Communities’ Lands (Amendment) Act 1943, for a community or for the use or benefit or for any purpose of a community) at any time vested in it—

(i) to sell it and to exchange it for other land and to transfer or convey community land or other land so sold or exchanged to the purchaser or person taking in exchange, whether alone or jointly with another person, freed and discharged from all trusts affecting the same in the hands of the body corporate, and

(ii) to demise or let it for such term at such rent and with or without taking a premium, fine or foregift and subject to such provisions as to the body corporate shall appear desirable, and

(iii) to accept surrenders of leases upon such terms and subject to such conditions as to the body corporate shall appear desirable, and

(iv) to borrow money on the security of it on such terms and conditions as to the body corporate shall appear desirable, and