Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) Except as provided by this section or in the course of, and for the purpose of, exercising its powers and performing its functions and duties, a corporation shall not carry on business.
(1A) A corporation may own, manage, dispose of or otherwise deal with a unit created by the subdivision under Part IIIA of common property, but the corporation shall not have any voting rights in relation to the unit at a meeting of the corporation, neither can it appoint a committee-man by virtue of its ownership of the unit.
(2) If default has been made by a corporation in complying with subsection (1), each person who was, at the time when the default occurred, a committee-man of the corporation is, unless he proves that he took reasonable steps to ensure that the default did not occur or proves that the default occurred without his knowledge, guilty of an offence.
Maximum penalty: 100 penalty units.