Commonwealth Consolidated Acts

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SCREEN AUSTRALIA ACT 2008 - SECT 41

Restrictions on financial transactions

  (1)   Screen Australia must not, without the approval of the Minister:

  (a)   acquire any property, right or privilege for a consideration exceeding in amount or value the amount prescribed by the regulations for the purposes of this paragraph; or

  (b)   dispose of any property, right or privilege if the amount or value of the consideration for the disposal, or the value of the property, right or privilege, exceeds the amount prescribed by the regulations for the purposes of this paragraph; or

  (c)   enter into a contract for the construction of a building for Screen Australia, being a contract under which Screen Australia is to pay an amount exceeding the amount prescribed by the regulations for the purposes of this paragraph; or

  (d)   enter into a lease of land for a period exceeding 10 years.

  (2)   Paragraphs   ( 1)(a) and (b) do not apply to transactions relating to the functions described in subparagraph   6(1)(b)(i).

  (3)   The regulations may prescribe limits on the total amounts of money that may be spent, guaranteed or otherwise committed in a specified period by Screen Australia in performing its functions under subparagraph   6(1)(b)(i).

  (4)   If an approval under subsection   ( 1) is in writing, the approval is not a legislative instrument.


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