Australian Capital Territory Numbered Acts

CITY RENEWAL AUTHORITY AND SUBURBAN LAND AGENCY ACT 2017 (NO. 12 OF 2017) - SECT 39

    (1)     The functions of the agency are—

        (a)     to buy and sell leases of land on behalf of the Territory; and

        (b)     to ensure a mixture of public and private housing in new suburbs; and

        (c)     to increase the supply of affordable and community housing; and

        (d)     to meet housing targets determined under section 65 (Affordable, community and public housing targets); and

        (e)     to carry out the development of land in a manner that is environmentally sustainable; and

        (f)     to exercise functions in a way that supports statutory greenhouse gas emissions targets and delivers environmentally sustainable development; and

        (g)     to follow and support whole-of-government strategies; and

        (h)     any other function given to the agency under this Act or another territory law.

Note 1     A territory authority must not do any act, or approve the doing of an act, that is inconsistent with the territory plan

(see Planning and Development Act 2007

, s 50).

Note 2     A provision of a law that gives an entity (including a person) a function also gives the entity powers necessary and convenient to exercise the function (see Legislation Act

, s 196 and dict, pt 1, def entity ).

    (2)     The agency may exercise a function mentioned in subsection (1) (a), (b), (c) or (e) only—

        (a)     in a way that is consistent with the statement of intent for the agency prepared under the Financial Management Act 1996

, section 61; and

        (b)     with the Minister's approval.

    (3)     With the approval of the Minister and the Treasurer, the agency may exercise its functions—

        (a)     through subsidiaries, joint ventures or trusts; or

        (b)     by holding shares in, or other securities of, corporations.