Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Where:
(a) regulations declaring the establishment of an R&D Corporation (in this section called the proposed Corporation ) under section 8 have been made but are not yet in force; and
(b) the Minister has declared under section 7 one or more specified organisations to be representative organisations in relation to the proposed Corporation;
then:
(c) the Minister may appoint a person under section 122 to be the Presiding Member of the Selection Committee for the proposed Corporation; and
(d) the Minister may appoint persons to be directors of the proposed Corporation, but such appointments are only to take effect when the regulations declaring the establishment of the proposed Corporation come into force; and
(e) this Part applies in relation to appointments of nominated directors of the proposed Corporation as if the proposed Corporation were an R&D Corporation.
(2) The Commonwealth is liable to pay the expenses, and discharge the liabilities, incurred by a Selection Committee in connection with the performance of its function, and the exercise of its powers, in relation to the selection of directors for appointment to the proposed Corporation before the regulations declaring the establishment of the proposed Corporation as an R&D Corporation come into force.
(3) When the regulations come into force:
(a) the R&D Corporation thus established is liable to reimburse the Commonwealth for any amounts the Commonwealth has paid as a result of a liability arising under subsection (2); and
(b) any liability arising under subsection (2) in respect of which the Commonwealth has yet to make payments is to be taken to be transferred to the R&D Corporation and to be a liability incurred by the Corporation in the performance of its functions.