(1) The functions of
the Building Management Authority are —
(a) to
acquire, hold, lease, take on lease, dispose of, exchange, provide, construct,
alter, protect or manage authorised buildings, and to acquire, hold, take on
lease or dispose of land for that purpose; and
(b) to
borrow moneys for the purpose of the acquisition, provision, construction,
alteration, protection or management of authorised buildings and for the
purpose of acquiring, holding or taking on lease land in connection with that
acquisition, provision, construction, alteration, protection or management;
and
(c)
generally to develop land acquired, held or taken on lease by it for the
purposes of this Part.
(2) Subject to this
Part, the Building Management Authority may, with the approval of the
Treasurer, borrow moneys from any person in the performance of the functions
of the Building Management Authority on such terms and conditions and in such
manner as the Treasurer approves.
(3) The Treasurer may,
in the name and on behalf of the Crown in right of the State, guarantee
—
(a)
repayment of; and
(b)
payment of interest on, and of brokerage, commission, fees and other expenses
incurred in respect of,
moneys borrowed by the
Building Management Authority under subsection (2), and any liability of the
Crown arising out of any such guarantee is to be charged to moneys in the
Consolidated Account, which to the necessary extent is hereby appropriated
accordingly.
(4) A guarantee given
under subsection (3) shall be in such form and subject to such terms and
conditions as the Treasurer determines and, without limiting the generality of
the foregoing, shall be subject to a condition that the lender shall not,
without the consent in writing of the Treasurer, assign or encumber the
benefit of the guarantee.
(5) The Building
Management Authority may —
(a)
subdivide, and grant easements and other interests in or rights over; and
(b)
provide, arrange for the provision of or cause to be provided energy
resources, roads, sewerage, drainage or water or any other resource or service
conducive to the development of,
land acquired, held or
taken on lease by it in the performance of its functions.
(6) The Building
Management Authority has power to do all things necessary or convenient for or
in connection with the performance of its functions.
(7) Nothing in this
Part is to be read as conferring on the Building Management Authority in the
performance of its functions any immunity from the operation of any written
law.
[Section 9C inserted: No. 123 of 1984 s. 4;
amended: No. 6 of 1993 s. 11; No. 59 of 1994 s. 7 and 9; No. 49 of 1996 s. 64;
No. 77 of 2006 s. 4.]