New South Wales Consolidated Acts

REDFERN-WATERLOO AUTHORITY ACT 2004 - SECT 24

24 Dealings with certain property acquired by gift, devise or bequest

(1) The Authority must not sell, lease, exchange or otherwise dispose of or deal with property acquired by gift, devise or bequest except:

(a) if the property has been acquired subject to a condition to which the Authority has agreed under section 23 (1), in accordance with the condition, or

(b) in any other case with the approval of the Minister.

(2) Despite subsection (1) but subject to subsection (3), if the Authority decides that any property that has been acquired by the Authority subject to a condition to which the Authority has agreed under section 23 (1) is not required for the purposes of the Authority, the Authority may:

(a) sell the property and retain the proceeds of the sale as property of the Authority, or

(b) exchange the property for other property, or

(c) if the Authority is of the opinion that the property is of no commercial value, dispose of the property without valuable consideration,

in contravention of the condition.

(3) The Authority must not sell, exchange or otherwise dispose of any property under subsection (2) except with the consent of the Minister and in accordance with any condition the Minister may impose upon the grant of that consent.

(4) The Minister may consent to the sale, exchange or disposal of property for the purposes of this section and may impose any condition the Minister thinks fit upon the grant of that consent.