Australian Capital Territory Numbered Acts

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INSURANCE AUTHORITY ACT 2005 (NO. 24 OF 2005) - SECT 9

Powers of authority generally

    (1)     The authority has the legal capacity and powers of an individual both in and outside the ACT (including outside Australia).

Examples

1     to enter into a contract

2     to own, deal with and dispose of property

3     to act as trustee

Note     An example is part of the Act, is not exhaustive and may extend, but does not limit, the meaning of the provision in which it appears (see Legislation Act, s 126 and s 132).

    (2)     Without limiting subsection (1), the authority—

        (a)     has the powers given to it under this Act or another territory law; and

        (b)     may do anything that it is authorised to do by a territory law or a law of another jurisdiction; and

        (c)     may exercise its powers in and outside the ACT (including outside Australia).

Example for par (b)

The authority may arrange for the authority to be registered or recognised under a law of another jurisdiction.

    (3)     The authority's legal capacity to do something is not affected by the fact that the authority's interests are not, or would not be, served by doing it.

    (4)     To remove any doubt, this section does not—

        (a)     authorise the authority to do anything that is prohibited by a territory law or a law of another jurisdiction; and

        (b)     give the authority a right that a territory law or a law of another jurisdiction denies to the authority.

    (5)     In this section:

"another jurisdiction" means the Commonwealth, a State, another Territory or a foreign country.



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