(1) The functions of the Building Management Authority are ¾

(a) to acquire, hold, lease, take on lease, dispose of, exchange, provide, construct, alter, protect or manage authorised buildings, and to acquire, hold, take on lease or dispose of land for that purpose;

(b) to borrow moneys for the purpose of the acquisition, provision, construction, alteration, protection or management of authorised buildings and for the purpose of acquiring, holding or taking on lease land in connection with that acquisition, provision, construction, alteration, protection or management; and

(c) generally to develop land acquired, held or taken on lease by it for the purposes of this Part.

(2) Subject to this Part, the Building Management Authority may, with the approval of the Treasurer, borrow moneys from any person in the performance of the functions of the Building Management Authority on such terms and conditions and in such manner as the Treasurer approves.

(3) The Treasurer may, in the name and on behalf of the Crown in right of the State, guarantee ¾

(a) repayment of; and

(b) payment of interest on, and of brokerage, commission, fees and other expenses incurred in respect of,

moneys borrowed by the Building Management Authority under subsection (2), and any liability of the Crown arising out of any such guarantee is to be charged to moneys in the Consolidated Fund, which to the necessary extent is hereby appropriated accordingly.

(4) A guarantee given under subsection (3) shall be in such form and subject to such terms and conditions as the Treasurer determines and, without limiting the generality of the foregoing, shall be subject to a condition that the lender shall not, without the consent in writing of the Treasurer, assign or encumber the benefit of the guarantee.

(5) The Building Management Authority may ¾

(a) subdivide, and grant easements and other interests in or rights over; and

(b) provide, arrange for the provision of or cause to be provided energy resources, roads, sewerage, drainage or water or any other resource or service conducive to the development of,

land acquired, held or taken on lease by it in the performance of its functions.

(6) The Building Management Authority has power to do all things necessary or convenient for or in connection with the performance of its functions.

(7) Nothing in this Part is to be read as conferring on the Building Management Authority in the performance of its functions any immunity from the operation of any written law.

[Section 9C inserted by No. 123 of 1984 s. 4; amended by No. 6 of 1993 s. 11; No. 59 of 1994 s. 7 and 9; No. 49 of 1996 s. 64.]