Queensland Consolidated Acts

STATUTORY BODIES FINANCIAL ARRANGEMENTS ACT 1982 - SECT 9

9 Statutory bodies’ borrowing powers under pt 5 and other Acts

(1) A statutory body’s borrowing powers under part 5 are additional to its powers under the other parts of this Act and its borrowing powers under its authorising Act or another Act.

(2) However, if there is no express power to borrow in the body’s authorising Act or another Act, its powers to borrow are limited to the powers under this Act even though, for example, its authorising Act or another Act states the body has—

(a) the powers of a body corporate or individual; or

(b) the power generally to enter into contracts; or

(c) the power to do all things necessary or convenient for, or in connection with, the performance of its functions.