South Australian Consolidated Acts

SOUTH AUSTRALIAN HOUSING TRUST ACT 1995 - SECT 21

21—Further specific powers of SAHT

        (1)         Without limiting another provision of this Act, but subject to a limitation or condition imposed by the Minister in relation to SAHT, SAHT may—

            (a)         sue and be sued;

            (b)         acquire, hold, deal with and dispose of real and personal property (or an interest in real or personal property), and grant or hold a lease or licence;

            (c)         with the approval of the Minister or as authorised by regulation—acquire, hold, deal with and dispose of shares in, or securities issued by, another body corporate, or participate in the formation of another body;

            (d)         with the approval of the Minister or as authorised by regulation—borrow money and obtain other forms of financial accommodation;

            (e)         establish and operate ADI accounts and invest money;

            (f)         enter into any kind of contract or arrangement;

            (g)         exercise other powers conferred by regulation;

            (h)         exercise other powers that are necessary, expedient or incidental to the functions of SAHT.

        (2)         SAHT must not establish a trust scheme or a partnership or other scheme or arrangement for sharing of profits or joint venture with another person or undertake an operation or transaction pursuant to such a scheme or arrangement.

        (3)         However, subsection (2) does not apply if—

            (a)         SAHT is acting with the approval of the Minister; or

            (b)         the other party to the scheme or arrangement is a statutory corporation; or

            (c)         the scheme or arrangement is within a class prescribed by the regulations for the purposes of this provision.

        (4)         The Minister must obtain the concurrence of the Treasurer before giving an approval under subsection (1)(d).