7Powers of the University

7 Powers of the University

(1)  The University has power to do, both in Tasmania and elsewhere, all things necessary or convenient to be done for or in connection with the performance of its functions and, in particular, has power –

(a) to acquire, hold and dispose of real and personal property; and

(b) to form, and participate in the formation of, companies; and

(c) to subscribe for and purchase shares in, and debentures and other securities of, companies; and

(d) to enter into partnerships; and

(e) to participate in joint ventures and arrangements for the sharing of profits; and

(f) to borrow money; and

(g) to do anything incidental to any of its powers.

(2)  Notwithstanding subsection (1) (f) , the University is not to exercise its power to borrow money unless it has first obtained the written approval of the Treasurer.