(1) In this
section —
“acquire” includes taking —
(a) by
way of a lease, licence, easement or bailment; or
(b) in
any other manner in which an interest in property may be acquired;
“business concern” means a company, a
partnership, a trust, a joint venture, or any other business arrangement but
does not include a research body;
“dispose of” includes dispose
of —
(a) by
way of a lease, licence, easement or bailment; or
(b) in
any other manner in which an interest in property may be disposed of;
“participate in” includes form,
promote, establish, enter into, manage, dissolve, wind-up, and do things
incidental to participating in, a business concern;
“property” means property of every
kind, whether real or personal, tangible or intangible, corporeal or
incorporeal, and any interest in property;
“ research body” means a body, whether
incorporated or not, which —
(a) has
its principal office within the Commonwealth; and
(b) has
among its principal objects the carrying out of research, investigation,
inquiries or studies into biosecurity, agricultural activities or management
or related matters within the Commonwealth.
(2) The Authority has
all the powers it needs to perform its functions.
(3) The Authority
may —
(a)
acquire, develop, dispose of, and otherwise deal with, property; and
(b)
subject to section 153, participate in any business concern or research
body and acquire, hold and dispose of shares, units or other interests in, or
relating to, a business concern or research body; and
(c)
enter into a contract or arrangement; and
(d)
develop and turn to account any technology, software, resource or intellectual
property and, for that purpose, apply for, hold, receive, exploit and dispose
of any intellectual property; and
(e) use
the expertise and resources of the department to provide consultancy, advisory
or other services for profit.
(4) In exercising any
power under this section the Authority may act in conjunction
with —
(a) any
person or firm, or public authority; or
(b) any
department of the Public Service, or any agency, of the Commonwealth.