Commonwealth Consolidated Acts

NATIONAL GALLERY ACT 1975 - SECT 38

(1)

The Gallery shall not, without the approval of the Minister:

(a) acquire any work of art for a consideration exceeding in amount or value $450,000 or, if a higher amount is prescribed, that higher amount;
(b) acquire any property, right or privilege, other than a work of art, for a consideration exceeding in amount or value $250,000 or, if a higher amount is prescribed, that higher amount;
(c) dispose of any property, right or privilege, other than a work of art, where the amount or value of the consideration for the disposal or the value of the property, right or privilege exceeds $250,000 or, if a higher amount is prescribed, that higher amount;
(d) enter into a contract for the construction of a building being a contract under which the Gallery is to pay an amount exceeding $100,000 or, if a higher amount is prescribed, that higher amount; or
(e) enter into a lease of land for a period exceeding 10 years.

(2)

Paragraphs (1)(b) and (c) do not apply to the investment of money by the Gallery in accordance with section 18 of the Commonwealth Authorities and Companies Act 1997 .