Northern Territory Consolidated Acts Northern Territory Consolidated Acts39. Function of Corporation
(1) The function of the Corporation is to acquire, hold and dispose of real property (including any estate or interest in real property) in accordance with this Act and it may acquire and hold such property, notwithstanding any other law in force in the Territory which would restrict or otherwise limit the capacity of the Corporation to acquire and hold such property.
(2) The Corporation has power to do all things necessary or convenient to be done for or in connection with or incidental to the carrying out of its function.
(3) Any moneys payable by the Corporation for or incidental to the acquisition of any estate or interest in real property may be advanced by the Commission on such terms and conditions as the Commission thinks fit.
(4) Any moneys payable to the Corporation in respect of any estate or interest in real property held or disposed of by the Corporation shall be paid to the Commission, whose receipt shall be a sufficient discharge therefor, and any moneys payable by the Corporation in respect of any estate or interest in real property held by the Corporation may be paid by the Commission.
(5) Notwithstanding anything contained in the Stamp Duty Act , no stamp duty shall be payable on any instrument by which any property or interest is granted or assured to or vested in the Corporation.
(6) The Commission has the care, control and management of all land (including an interest in land) acquired or held by the Corporation.