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15(1)The Authority may do anything which appears necessary or expedient for the purpose of, or in connection with, or which appears conducive to, the carrying out of its functions, including in particular—
(a)entering into contracts;
(b)acquiring and disposing of property (whether heritable or moveable);
(c)borrowing money;
(d)forming or promoting (whether alone or with another) companies (within the meaning of the Companies Act 1985 (c. 6)).
(2)The power conferred by sub-paragraph (1)(b) includes power to accept—
(a)gifts of money; and
(b)gifts or loans of other property
on such terms as the Authority considers appropriate.
(3)The Authority may not exercise the powers conferred by paragraphs (b) to (d) of sub-paragraph (1) without the consent of the Scottish Ministers.
(4)Such consent may be given—
(a)with respect to a particular case or a particular class of cases;
(b)subject to such conditions as the Scottish Ministers consider appropriate.
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Text created by the Scottish Government to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills.
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