URGENT: Ovinrbaane questions [spoilers]

[Necro_y2k]

I'll GM in a few hours. Please answer asap.
Many many thanks in advance

Ovinrbane (intelligent magic item) has this in the stat block:

Quote:

Special Purpose defeat/slay all; dedicated Power wielder

gains freedom of movement and dispel magic (CL 20th)
against opposing attacks and effects (the dispel magic
attempts to dispel any offensive effect once only as it first
takes effect on the sword’s wielder)

http://www.d20pfsrd.com/magic/all-spells/d/dispel-magic

I don't know how to cast that spell from an int magic item.

Can The sword set a ready action every round thats triggers a Counterspell against a spell being cast by an enemy?

Can the sword set a ready action to Targeted Dispel against a spell in the first moment it affects Armag?

Or is just a "no action" in Armag's turn which can only do a Targeted Dispel?

Or the sword just rolls initiative and plays like and extra character?

[RobRendell]

I believe intelligent magic items do have their own actions and place in the initiative order. Mind you, it makes sense for the sword to ready the Dispel Magic to counterspell, as you say, and after a readied action goes off, your position in the initiative order changes to just before whoever triggered the action, so you probably don't need to worry about rolling initiative for it or anything.

[Curghann]

SRD wrote:

Unlike most magic items, intelligent items can activate their own powers without waiting for a command word from their owner. Intelligent items act during their owner’s turn in the initiative order.