(1)  The Academy has the following powers:

(a) to undertake commercial activities incidental to the provision of post-Year 10 education for the purpose of enabling persons to acquire qualifications and eligibility to participate in higher education;

(b) to hire or hire out property;

(c) to lease, sell, otherwise dispose of or buy property, other than real property;

(d) with the approval of the Minister, to lease, sell, otherwise dispose of or buy real property;

(e) to enter into contracts;

(f) to provide services to other persons and organisations in accordance with such contracts;

(g) to do anything necessary or convenient in relation to the performance of its functions.

(2)  The Academy also has the following powers:

(a) with the written approval of the Minister and the Treasurer, to form, or participate in the formation of, a company;

(b) with the written approval of the Minister and the Treasurer, to participate in a trust;

(c) with the written approval of the Minister and the Treasurer, to participate in any or all of the following arrangements for the purpose of the sharing of profits:

(i) a joint venture;

(ii) a partnership;

(iii) any other arrangement.