Commonwealth Consolidated Acts

NATIONAL LIBRARY ACT 1960 - SECT 7A

(1)

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

(a)

acquire any property, right or privilege for a consideration exceeding in amount or value $250,000 or, if a higher amount is prescribed, that higher amount;

(b)

dispose of any property, right or privilege 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;

(c)

enter into a contract for the construction of a building for the Library, being a contract under which the Library is to pay an amount exceeding $250,000 or, if a higher amount is prescribed, that higher amount; or

(d)

enter into a lease of land for a period exceeding 10 years.