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The powers of the TSRA are outlined in Section 142C of the Aboriginal and Torres Strait Islander Act 2005 (Cth), which states:
- The TSRA has power to do all things that are necessary or convenient to be done for or in connection with the performance of its functions.
- The powers of the TSRA include, but are not limited to, the following powers:
- to accept gifts, grants, bequests and devises made to it;
- to act as trustee of money and other property vested in it on trust;
- to negotiate and co-operate with other Commonwealth bodies and with State, Territory and local government bodies;
- to enter into an agreement for making a grant or loan under Section 142GA to the State of Queensland or an authority of that State (including a local government body);
- to enter into an agreement (other than an agreement referred to in paragraph (d)with a State or a Territory.
- Despite anything in this Act, any money or other property held by the TSRA on trust must be dealt with in accordance with the powers and duties of the TSRA as trustee.
- The powers of the TSRA may be exercised in or out of Australia.