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NATIONAL RECONSTRUCTION FUND CORPORATION ACT 2023 - SECT 73

Board to be consulted on Investment Mandate

  (1)   Before giving the Board a direction under subsection   71(1), the Ministers must:

  (a)   send a draft of the direction to the Board; and

  (b)   invite the Board to make a submission to the Ministers on the draft direction within a reasonable time limit specified by the Ministers; and

  (c)   consider any submission that is received from the Board within that time limit.

  (2)   If:

  (a)   the Ministers give the Board a direction under subsection   71(1); and

  (b)   the Board made a submission to the Ministers on a draft of the direction within the time limit specified by the Ministers;

the submission is to be tabled in each House of the Parliament with the direction.

Note:   For tabling of the direction, see section   38 of the Legislation Act 2003 .

  (3)   The Ministers must omit any national security information or sensitive financial intelligence information from the submission tabled under subsection   (2).



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