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\li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid4209633 \fs20\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid4209633\charrsid3365724 \par }\pard \qc \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid7961036 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid4157194 {\*\xmlopen\xmlns1{\factoidname place}}{\*\xmlopen\xmlns1{\factoidname PlaceName}}COOK{\*\xmlclose} {\*\xmlopen\xmlns1{\factoidname PlaceType}}ISLANDS{\*\xmlclose}{\*\xmlclose} PEARL AUTHORITY}{\b\fs24\lang2057\langfe1033\langnp2057\insrsid7961036\charrsid3365724 \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid5973457 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }\pard \qc \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid5973457 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid4209633\charrsid3365724 1993}{\b\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 ,}{ \b\fs24\lang2057\langfe1033\langnp2057\insrsid5973457\charrsid5973457 }{\b\fs24\lang2057\langfe1033\langnp2057\insrsid5973457\charrsid3365724 No. 6 \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid5973457 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid4209633\charrsid3365724 \par }\pard \qc \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid5792823 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid5792823\charrsid3365724 ANALYSIS \par }\pard \qj \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid3689308 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Title}{\fs24\lang2057\langfe1033\langnp2057\insrsid5792823\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4157194 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 1. Short Title}{\fs24\lang2057\langfe1033\langnp2057\insrsid5792823\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 2. Interpretation}{\fs24\lang2057\langfe1033\langnp2057\insrsid5792823\charrsid3365724 \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid5792823\charrsid3365724 \par }\pard \qc \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12782106 {\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid5792823\charrsid3365724 PART I \par ESTABLISHMENT AND ADMINISTRATION \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12782106 {\fs24\lang2057\langfe1033\langnp2057\insrsid4157194 \par }\pard \qj \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid3689308 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 3. {\*\xmlopen\xmlns1{\factoidname place}}Cook Islands{\*\xmlclose} {\*\xmlopen\xmlns1 {\factoidname place}}Pearl{\*\xmlclose} Authority \par 4. Board of Directors of Authority \par 5. Terms of Office of Appointed Directors \par 6. Alternate Directors}{\fs24\lang2057\langfe1033\langnp2057\insrsid5792823\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 7. Extraordinary vacancies \par 8. Meetings of Board \par 9. Committee \par 10. Directions by Minister \par 11. General Manager \par 12. Other employees \par 13. Consultant and Specialist}{\fs24\lang2057\langfe1033\langnp2057\insrsid5792823\charrsid3365724 }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Personnel \par 14. Personal Liability \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid5792823\charrsid3365724 \par }\pard \qc \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12782106 {\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid5792823\charrsid3365724 PART II}{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 \par OBJECTIVES, FUNCTIONS & FUNDS OF THE AUTHORITY \par }\pard \qj \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid16580978 {\fs24\lang2057\langfe1033\langnp2057\insrsid4157194 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 15. Objectives of the Authority \par 16. Functions of the Authority}{\fs24\lang2057\langfe1033\langnp2057\insrsid5792823\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 17. Vesting of property in Authority}{\fs24\lang2057\langfe1033\langnp2057\insrsid5792823\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid465632\charrsid3365724 18. Funds \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 19. Application of Funds \par 20. Short-term investment \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid5792823\charrsid3365724 \par }\pard \qc \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12782106 {\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid5792823\charrsid3365724 PART III \par ACCOUNTABILITY AND ANNUAL REPORT \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid4157194 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5792823\charrsid3365724 21. Financial year \par 22. Statement of corporate intent \par 23. Annual report and accounts \par 24. Half-yearly reports \par 25. Information to be laid before Parliament \par 26. Other information \par \par }\pard \qc \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12782106 {\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid5792823\charrsid3365724 PART IV \par SECURITIES \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid12782106 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid13119968\charrsid3365724 27. Security for advances}{\fs24\lang2057\langfe1033\langnp2057\insrsid5792823\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid13119968\charrsid3365724 28. Securities to be taken in name of Authority \par 29. Assignment of money as security may be irrevocable \par \par }\pard \qc \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12782106 {\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid13119968\charrsid3365724 PART V \par MISCELLANEOUS \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12782106 {\fs24\lang2057\langfe1033\langnp2057\insrsid12782106 \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid13119968\charrsid3365724 30. Taxation \par 31. Contracts of Authority \par 32. Execution of documents \par 33. Evidence of documents \par 34. Disclosure of information \par 35. Breach of Act or Regulations \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid4544162 {\fs24\lang2057\langfe1033\langnp2057\insrsid13119968\charrsid3365724 36. Regulations}{\fs24\lang2057\langfe1033\langnp2057\insrsid5792823 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid3820264 \par }\pard \qc \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid3820264 {\fs24\lang2057\langfe1033\langnp2057\insrsid3820264 _________________}{\fs24\lang2057\langfe1033\langnp2057\insrsid3820264\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid13119968 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid3820264 1993, No.6}{\fs24\lang2057\langfe1033\langnp2057\insrsid3820264\charrsid3365724 \par }\pard \qc \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid2123362 {\fs24\ul\lang2057\langfe1033\langnp2057\insrsid3820264 \par }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 An Act t}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid11821028\charrsid3365724 o}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 establish }{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid11821028\charrsid3365724 t}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 h}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid11821028\charrsid3365724 e}{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Cook Islands Pearl A}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 ut}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 h}{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 o}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 ri}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 ty}{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 \par }\pard \qr \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid2123362 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 ({\*\xmlopen\xmlns1{\factoidname date}{\xmlattr\xmlattrns0{\xmlattrname Month} {\xmlattrvalue 11}}{\xmlattr\xmlattrns0{\xmlattrname Day}{\xmlattrvalue 10}}{\xmlattr\xmlattrns0{\xmlattrname Year}{\xmlattrvalue 1993}}}10 November 1993{\*\xmlclose} \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid2123362 {\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 BE IT ENACTED}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 by the Parliament of the {\*\xmlopen\xmlns1{\factoidname place}}Cook Islands{\*\xmlclose} in Session assembled and by the authority of the same as follows: \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 \par }\pard \qj \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10297817 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 1. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Short Title} {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - This Act may }{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 b}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 e citied as the Cook Islands Pearl Authority Act}{\fs24\lang2057\langfe1033\langnp2057\insrsid7368209\charrsid3365724 1993.}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 2. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Interpretation}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - In this Act}{ \fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 ,}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 unless}{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 the context otherwise requires}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }\pard \qj \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid5973457 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 "Authority" means the Cook Islands Pearl Authority established by this Act; \par }\pard \qj \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10297817 {\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 \par }\pard \qj \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid5973457 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 "Board" means the board of directors of the Authority; \par }\pard \qj \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10297817 {\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 \par }\pard \qj \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid5973457 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 "The Industry" means the {\*\xmlopen\xmlns1{\factoidname place}}Cook Islands {\*\xmlclose} pearl farming industry; \par }\pard \qj \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10297817 {\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 \par }\pard \qj \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid5973457 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 "Minister" means the Minister of Finance. \par }\pard \qj \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10297817 {\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 \par }\pard \qc \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid2123362 {\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 PART I}{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 \par }{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 E}{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 STAB}{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 LI}{ \b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 S}{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 HMENT AND ADMINISTRATION }{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid15817905\charrsid3365724 O}{ \b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 F THE }{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid15817905\charrsid3365724 COO}{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 K {\*\xmlopen\xmlns1 {\factoidname place}}ISLANDS{\*\xmlclose} PEARL AUTHORITY \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 3.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8069158\charrsid3365724 }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 {\*\xmlopen\xmlns1{\factoidname place }}Cook Islands{\*\xmlclose} {\*\xmlopen\xmlns1{\factoidname place}}Pearl{\*\xmlclose} Authority}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) There shall be an}{ \fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 authority called the Cook Islands Pearl Authority}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 . \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) The Authority shall be a body corporate with perpetual succession and a commo}{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 n}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 seal and shall be capable of acquiring, holding, and disposing of real and personal propert}{\fs24\lang2057\langfe1033\langnp2057\insrsid8069158\charrsid3365724 y, suing and being sued and, sub}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 ject to the provisions of this Act, of doing}{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 }{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 and suffering all such other acts and things as a body corporate may lawfully do and suffer. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 4.}{\fs24\lang2057\langfe1033\langnp2057\insrsid8069158\charrsid3365724 }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 Board of directors of Authority}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) There shall be a board of Directors of the Autho}{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 r}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 ity consisting of not less than 3 nor more than 5 persons who shall be appointed by the Minister. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) The Minister shall appoint a Chairman who shall be one of the directors appointed under subsection (1). \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (3) The Chairman and at least two of the persons appointed as directors under subsection (1) of this section shall be appointed out of the private sector, being persons h}{ \fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 a}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 ving recognised business acumen and expertise. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (4) The General Manager of the Cook Islands Development Bank and the Ge}{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 n}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 eral Manager of the Authority shall be ex-officio members of the Authority. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (5) The Authority may from time to time elect one of their members to be vice-chairman. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (6) The powers of the Authority shall not be affected by any vacancy in its}{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 }{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 membership. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (7) No person shall be deemed to }{\fs24\lang2057\langfe1033\langnp2057\insrsid1209145\charrsid3365724 b}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 e employed in the Public Service for the purposes of the Public Service Act 1975 by reason only of being a director of the Authority. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 5. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Terms Office }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid15946725\charrsid3365724 o}{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 f Appointed Directors}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) Except as otherwise provided by this Act, every appointed director shall hold office for a period of not less than one year and not more than three years, commencing on the date of appointment. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Provided that directors may from time to time be re-appointed for further terms. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) Every appointed director of the Authority who is not an employee of the Public Service or any agency or ad-hoc body of the Government shall be paid from the funds of the Authority such remuneration and allowances as may from time to time be prescribed. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (3) Notwithstanding any other provision in this Act every member whose office is terminated by the effluxion of time shall continue to hold office until his successor is appointed. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 6. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Al}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 ternate}{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Directors}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) In any case in which the Minister is satisfied that any Director is incapacitated by illness, absence, or other sufficient cause from performing the duties of his office, the Minister may appoint an alternate to act for that director during his incapacity. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) In the ca se of the incapacity of the Chairman, his alternate may or may not be one of the other directors, and if the alternate of the Chairman is one of the other directors, some other person may be appointed to act as the alternate of that director. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (3) Any alternate appointed under this section shall, while he acts as such, be deemed to be a director. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (4) No appointment of an alternate and no act done by him as such, and no act done by the Board while any alternate is acting as such, shall in any proceedings be questioned on the ground that the occasion for his appointment had not arisen or had ceased. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 7. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Ex}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 t}{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 r}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 ao}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 r}{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 d}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 ina}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 ry vacancies}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) Any appointed director including the Chairman may at any time be removed from office by the Minister for disability, bankruptcy, neglect of duty or mis-conduct proved to the satisfaction of the Minister. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) An appointed director may at any time resign his office by delivering a notice in writing to that effect to the Minister. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (3) If any director dies or resigns, or is removed from office, his office shall become vacant and the vacancy shall be deemed to be an extraordinary vacancy}{ \fs24\lang2057\langfe1033\langnp2057\insrsid15946725\charrsid3365724 .}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (4) An extraordinary vacancy shall be filled by the appointment of a person in the same manner as the appointment of the vacating member.}{ \fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (5) Every person appointed to fill an extraordinary vacancy shall be appointed for the residue of the term for which the vacating member was appointed. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (6) The powers of the Board shall not be affected by any vacancy in the membership thereof. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 8. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Meetings }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 o}{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 f Board}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1)}{\fs24\lang2057\langfe1033\langnp2057\insrsid14616454\charrsid3365724 The first meeting of the Board }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 shall be held on a day to be appointed in that behalf by the Chairman. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) Subsequent meetings of the Board sha}{\fs24\lang2057\langfe1033\langnp2057\insrsid6701106\charrsid3365724 ll}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 be held at intervals of not less than one month, at such time}{\fs24\lang2057\langfe1033\langnp2057\insrsid6912595\charrsid3365724 s and places as the Board from }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 time to time appoint. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (3) The Chairman, or any two directors, m}{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 a}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 y at any time call a special meeting of the Board. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (4) At all meetings of the Board the quorum necessary for the transaction of business shall be three directors. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (5) The Chairm}{\fs24\lang2057\langfe1033\langnp2057\insrsid7480845\charrsid3365724 an shall preside at all meeting}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 of the Board at which he is}{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 present. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (6) In the absence of the Chairman and any person appointed pursuant to Section 6 from any meeting, the Vice-Chairman shall preside, provided that if the Vice-Chairman is also absent, then the directors present shall appoint one of their number to be Chairman at that meeting. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (7) At any meeting of the directors the Chairman or other person presiding shall have a deliberative vote and, in the case of equality of votes, shall also have a casting vote. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (8) A resolution in writing signed or assented to by letter or facsimile by all directors shall be as valid and effectual as if it had been passed at a meeting of the directors duly called and constituted. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (9) Subject to the provisions of this Act and of any regulations thereunder, the Board may regulate procedure in such a manner as the directors think fit. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (10) A director shall not vote or take part in the discussion of any matter before the Board or before any committee thereof in which he has a direct pecuniary interest apart from any interest in common with the public. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 9. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Committees}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) The Board may from time to time by resolution appoint, discharge, alter, continue or reconstitute a committee or committees, consisting of two or more directors, to advise the Board on such matters as are referred to any committee by the Board. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) Any person may be appointed to be a member of any committee appointed under this section notwithstanding that he is not a director or employee of the Authority. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (3) Subject to the provisions of this Act, of any regulations, or of any general or special directions of the Board, any such committee may regulate its procedure in such manner as it thinks fit. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (4) The Board may from time to time delegate to any such Committee such of the powers or functions of the Authority including the power of delegation conferred by this section as they may think fit; provided that in no case shall any power- \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid5973457 {\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 (}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 i) to acquire land or buildings; or \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10894908 {\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid5973457 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (ii) to sell land or building vested in the Authority; }{ \fs24\lang2057\langfe1033\langnp2057\insrsid14241848\charrsid3365724 \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid14241848 {\fs24\lang2057\langfe1033\langnp2057\insrsid5973457 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 be delegated to such a committee. \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (5) The Board may from time to time delegate any of its powers to any member, officer or employee of the Authority including the power of delegation conferred by this section. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11828079 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (6) Subject to any general or special direction given or conditions imposed by the Board or committee or person to whom any powers are delegated as aforesaid, the committee or person to whom any powers are so delegated may exercise these powers in}{\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 }{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 the same manner and with the same effect as if they had been conferred directly by this Act and not by delegation. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11828079 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (7) Every committee or person purporting to act pursuant to any delegation under this section shall be presumed to be acting in accordance with the terms of the delegation in the absence of proof to the contrary. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11828079 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (8) Any deleg ation under this section may be made to a specified person or to persons of a specified class, or may be made to the holder for the time being of a specified office or appointment or to the holders of offices or appointments of a special class. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11828079 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (9) Any delegation under this section may be revoked at any time. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid2123362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 10. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Directions by Minister}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 }{ \fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 - }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (1) The Minister may from time to time give the Authority in writing such general policy directions as he thinks fit as to the policy to be followed by the Authority in the exercise of the functions of the Authority. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11828079 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) The Authority shall, in the exercise of its functions and powers, give effect to any directions given to it by the Minister under subsection (1). \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid11828079 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (3) A copy of every direction given by the Minister to the Authority under this section in any financial year shall be included in the annual report o}{ \fs24\lang2057\langfe1033\langnp2057\insrsid2367380\charrsid3365724 f}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 the Authority for that year laid before Parliament under section 25 of this Act. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 11. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 General Manag}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 e}{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 r}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) The Board may employ at such remuneration and on such terms and conditions as the Board may determine, a General Manager (who may be a Director) who shall perform such duties as may from time to time be prescribed by the Board. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) The Board may confer on the General Manager any of the powers exercisable by it, on such terms and subject to such restrictions as it thinks fit, and may from time to time revoke, withdraw, or vary any power so conferred or any such terms or restrictions. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 12. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Other Employees}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) The Board may engage at such remuneration on such terms and conditions and in such number as it may determine, other employees for the conduct of the objectives and functions of the Authority. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) Any person in the public service may be appointed to be an officer or employee of the Authority but no such person shall be entitled to hold office concurrently as an officer or employee or the Authority}{ \fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 and as a public servant except}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid4607210 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (a) in the case of a person subject to the Public Service Act 1975 with the consent of the Public Service Commissioner; and \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid4607210 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (b) in any other case with the consent of the Minister of the Crown to whose control that person is subject. \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (3) Any person who wa s an officer of the Public Service and who is employed by the Authority, may at any time within one year after appointment as an officer or employee of the Authority, elect to resume employment in the Public Service and, in any}{ \fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 such case, notwithstanding t he provisions of any enactment to the contrary, that person's employment in the Public Service shall }{\fs24\lang2057\langfe1033\langnp2057\insrsid10778184\charrsid3365724 b}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 e deemed to have continued without interruption. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Provided that this subsection shall not apply to any person whose employment by the Authority is terminated for misconduct or neglect of duty;}{ \fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 }{\fs24\lang2057\langfe1033\langnp2057\insrsid10249874\charrsid3365724 \par \par P}{\fs24\lang2057\langfe1033\langnp2057\insrsid16144603\charrsid3365724 rovided}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 also that no person shall be entitled to receive any salary as a member of the Public Service in respect of any period during which that person is employed by the Authority. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 l3. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Consultant and Specialist Personnel}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) Without limiting in any way the provisions of sections 11 and 12 of this Act, the Board may from time to time appoint consultants, advisers and such specialist personnel as it thinks necessary or appropriate to}{ \fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 assist the Authority generally or specifically, and such persons shall be retained upon such terms and conditions as the Board thinks fit. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 14. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Person}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 a}{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 l Li}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 ab}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 il}{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 ity}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - No director or employee of the Authority shall be personally liable for any act or default done or made by the Authority or by any director or employee in good faith in the course of the operations of the Authority. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }\pard \qc \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid4607210 {\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 PART I}{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 I}{ \b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 \par }{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 OBJECTIVES, FUNCTIONS & FUNDS OF THE AUTHORITY}{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 15. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Objectives }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 of t}{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 h}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 e}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Author}{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 ity}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) To promote encourage and assist the development of a sustainable and commercially viable pearl industry in the {\*\xmlopen\xmlns1{\factoidname place}}Cook Islands}{\fs24\lang2057\langfe1033\langnp2057\insrsid6308817\charrsid3365724 {\*\xmlclose}. \par \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) In the carrying out of its objectives the Autho}{\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 rity shall}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid4607210 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (a) endeavour to be a profitable, financially self-sus taining and efficient enterprise; and \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid4607210 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (b) exhibit a sense of social and environmental responsibility by having regard to the interests of the community and environment in which it operates; and \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid4607210 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (c) promote the social and economic well-being of the {\*\xmlopen\xmlns1{\factoidname place}}Cook Islands{\*\xmlclose}. \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 16. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 F}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 u}{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 n}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 ct}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 i}{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 o}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 n }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid417263\charrsid3365724 of the }{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Authority}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) The Authority shall have all such powers, rights, and authorities as may reasonably be necessary or expedient to carry out its objectives. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) Without limiting the generality of subsection (1), the functions of the Authority shall include the following: \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid4607210 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (a) to assist in the carrying out of feasibility studies, and to provide, or to assist in the provision of financial assistance to those persons involved or intending to be involved in the industry; \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid4607210 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (b) t o liaise between the pearl industry and agencies of Government, to ensure that the ecology of lagoons continues to be monitored and that environmentally sound practices are made known to the industry; \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid4607210 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (c) to provide services for the grading, measuring and valuation of pearls; \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid4607210 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (d) the preparation and continuing review of strategic management and marketing plans on behalf of the industry; \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid4607210 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (e) promote, organise and conduct sales within and beyond the Cook Islands of Cook Islands pearls; \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid4607210 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (f) assist pearl fa rmers and the industry generally in the establishment, efficiency and sustainab}{\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 ility of pearl farms; \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid11041835 {\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid4607210 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (g) promote and maintain public awareness of the image of Cook Islands Pearls within the {\*\xmlopen\xmlns1{\factoidname place}}Cook Islands{\*\xmlclose} and internationally; \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid4607210 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (h) to obtain and provide the services of seeding technicians and such other expert services as may be necessary or desirable for the benefit of the pearl industry; \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid4607210 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (i) the provision of extension services and training to improve pearl oyster husbandry practices, and the development of new technologies to improve spat collection and propagation; \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid4607210 {\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 (j) }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 to encourage and assist in the establishment of private sector industries within the Cook Islands for the manufacture of jewellery and other by-products of pearls a}{\fs24\lang2057\langfe1033\langnp2057\insrsid13634064\charrsid3365724 n}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 d mother-of-pearl}{\fs24\lang2057\langfe1033\langnp2057\insrsid4534564\charrsid3365724 ;}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid4607210 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (k) to provide assistance for the training of persons associated with the industry; \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid4607210 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (1) such other functions as may be prescribed. \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid4607210\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 17. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 V}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid15270008\charrsid3365724 esting of property in Authority }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) Her Majesty the Queen may grant, transfer, assign or lease to the Authority or in the name of the Authority any land or interest in land (other than the fee simple in any land and land comprised in a public reserve) and}{ \fs24\lang2057\langfe1033\langnp2057\insrsid15270008\charrsid3365724 }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 any personal property, rights or privileges, vested in or held on behalf o}{ \fs24\lang2057\langfe1033\langnp2057\insrsid3093201\charrsid3365724 f}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 the Crown and used or administered or to be used or administered for the purposes of or in connection with any objective or function of the Authority. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid15270008\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) Any lease by the Crown pursuant to subsection (1) of this section may be for such term and provide for such rent and other conditions as the Authority with the prior written approval of the Minister shall accept or approve. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid15270008\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 18. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Funds}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) The funds of the Authority shall consist of - \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10295111 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (a) such sums of mone y as the Authority may acquire by virtue of grants or with the approval of the Minister, raised by means of loans; \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10295111 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (b) such sums of money as may be appropriated to it by Parliament; \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10295111 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (c) such other sums of money as may accrue}{ \fs24\lang2057\langfe1033\langnp2057\insrsid14237647\charrsid3365724 to it in the course of and on}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 account of its enterprise. \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) No charge or lien created on any special fund which may be administered by the Authority shall operate as a charge of lieu upon the funds of the Authority provided that -}{ \fs24\lang2057\langfe1033\langnp2057\insrsid2057389\charrsid3365724 }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10295111 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (a) where in any appropriation Act or in any estim ate of expenditure and revenue accompanying the Appropriation Act for any year any vote or item to which the section applies is noted as being for a specified}{\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 }{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 purpose, it shall not be competent for the Authority to use moneys so appropriated for any purpose other than that specified in the said Act or estimate, and \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10295111 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (b) where any appropriation is made for the general purposes of the Authority, the Minister may direct the manner in which the moneys appropriated shall be paid to the Authority and may require that any}{ \fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 such appropriation be used first in payment of any debt due to the Public Account or to any account within the Public Account. \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 19. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Application of Funds}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - The funds of the Authority shall be applied towards - \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10295111 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (a) The payment of salaries, fees, re muneration, allowances and expenses due and payable to the members of the Board and the employees of the Authority; \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10295111 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (b) The repayment of sums raised by way of loan by the Authority and the payment of interest thereon; \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10295111 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (c) The objectives and functions of the Authority in accordance with the provisions of this Act. \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 20. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Short-Term Inv}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 estment}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - The Authority may invest all or any part of its funds not immediately required for the purposes stated in this Act in a bank or fi nancial institution approved by the Minister of Finance. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \qc \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10295111 {\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 PART }{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 III }{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 }{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 A}{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 CCOU}{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 NTABILITY AND ANNUAL REPORT \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 21. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Financial Year}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - The financial year of the Authority shall be the period of twelve months ending on the 30th June in each year. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 22. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 Statement of corporate intent}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) The Authority shall deliver to the Minister a draft statement of corporate intent approved by the Board - \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10295111 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (a) within one month of the coming into force of this Act; and thereafter, \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10295111 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (b) not later than 1 month after the commencement of e ach financial year of the Authority. \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) Each statement of corporate intent shall specify for the Authority in respect of the financial year in which it is delivered, the following information - \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10295111 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (a) the objectives of the Authority; \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10295111 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (b) the nature and scope of the activities to be undertaken; }{ \fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10295111 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (c) the accounting policies; \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10295111 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (d) the financial and other performance targets and other measures by which the performance of the Authority may be judged in relation to its objectives; \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10295111 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (e) such other matters as are required by the Minister. \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (3) The Authority shall consider any comments on the draft statement of corporate intent that are made to it within 2 months of the commencement of the financial year by the Minister, and shall deliv er the completed statement of corporate intent to the Minister within 3 months of the commencement of the financial year. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (4) A statement of corporate intent for the Authority may be modified at any time by written notice from the Authority to the Minister, so long as the Authority has first give}{ \fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 n}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 written notice to the Minister of the proposed modification and considered any comments made thereon by the Minister within 1 month of the date on which that notice was }{\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 g}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 iven. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 23. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Annual rep}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 o}{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 rt and accounts}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) Within 2 months after the end of each financial year, the Board shall deliv}{ \fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 e}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 r to the Minister - \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10295111 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (a) a report of the operations of the Authority during that financial year; and \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10295111 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (b) consolid}{\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 a} {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 ted }{\fs24\lang2057\langfe1033\langnp2057\insrsid7103801\charrsid3365724 financial}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 statements for that financial year consisting of statements of financial position, profit and loss, changes in financial position, balance sheets and such other statements as may be necessary to show the financial position of the Authority and the financ ial results of its operations during that financial year; and \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10295111 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (c) an auditor's report on those financial statements, made by an auditor approved by the Minister. \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid10160567\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) Every report under subsection (1) (a) and (1)(b) of this section shall contain such information as is }{\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 n}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 ecessary to enable an informed assessment of the operation}{\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 s of the Authority including a }{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 comparison of the performance of the Authority with the relevant statement of corporate intent. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 24. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 Hal}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 f-yearly reports}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) Within one month after the end of the first half of each financial year, the Board shall deliver to the Minister a report of its operations during that half-year. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) Each report required by this section shall include the information required by the statement of corporate intent to be included therein. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid10295111\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 25. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid13708818\charrsid3365724 Information to be laid}{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 for Parliament}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) Within 1 month of receiving all the following documents in respect of a financial year of the Authority, the Minis}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 ter shall lay before Parliament}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid12262362 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (a) the statement of corporate intent of the Authority for that year; and \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid12262362 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (b) the annual report and audited financial statements of the Authority for the preceding financial year; and \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }\pard \ql \li720\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid12262362 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (c) the auditor's report on those financial statements. \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (3) Where a stat ement of corporate intent has been modified pursuant to section 22(4) of this Act, the Minister shall lay before Parliament a copy of the notice making the modification within 1 month after the date on which the Minister receives the notice. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 26. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Other information}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - The Authority shall supply to the Minister such information relating to the affairs of the Authority as the Minister from time to time requests after consultation with the Board, whether or not the information is of a kind referred to in the sta tement of corporate intent. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }\pard \qc \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12262362 {\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 PART }{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 IV \par }{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 SECURITIES \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 27. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Security for Advances}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) The Authority may from time to time advance money by way of loan to persons involved in the industry, and such advances may be secured in such manner and on such terms as the Authority thinks fit. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) For the purpose of determining whether an application for an adva nce should be granted, the Authority shall not be bound to insist upon security, or any fixed or definite margin of security. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 28}{\b\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 .}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 }{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Securities to be taken in name of }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 Authority}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - Every security for an advance shall be taken in the name of the Authority. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 29. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Assignment of money as Security may}{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid3503785\charrsid3365724 }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 be irrevocable}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) The Authority may require any order on or assignment of money as security for the repayment of any advance, and any such order or assignment may be expressed to be irrevocable, notwithstanding the d eath of the person giving the order or assignment, and the order or assignment shall be irrevocable accordingly except with the consent in writing of the Authority. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) Notwithstanding anything in any enactment to the }{\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 contrary}{ \fs24\lang2057\langfe1033\langnp2057\insrsid1196906\charrsid3365724 ,}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 any company, corporate body , or person upon whom any notice of any such order or assignment has been served shall be bound to accept and to act upon the order or assignment, and to pay to the person nominated in that behalf in the order or assignment, all money from time to time pa yable thereunder. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }\pard \qc \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12262362 {\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 PART V}{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }{\b\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 MISCELLANEOUS \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 30. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Taxation}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - The income of the Aut}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 hority shall be subject to taxation}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 . \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 31. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Contracts of }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 Authority}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (l) Any contract which}{\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 , if made between}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 private persons must be by deed shall, if made by the A}{\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 uthority, be in writing under t}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 he common seal of the Authority. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) Any contract which, if made between private persons, must be in writing signed by the parties to be charged therewith shall, if made by the Bank, be under the common seal of the Authority. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (3) Any contract which, if made between private persons, may be made orally, may be similarly made by or on behalf of the Authority by any person acting under its authority, express or implied. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 32. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Execution of Documents}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - (1) Every document to which t he common seal of the Authority is affixed shall be signed by the Chairman of the Authority or in his absence the Vice Chairman, and shall be counter-signed by either another director or the General Manager of the Authority. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 (2) Any document which, if executed by a private person, would not require to be executed as a deed, may be signed on behalf of the Authority by the Chairman or by a}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 n}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 y director of the Authority }{\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 authorised}{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 in that behalf by the Chairman. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12262362\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 33. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Evidence of Documents}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - Every document purporting to be a document executed by or on behalf of the Authority in a manner provided in Section 32, shall be received in evidence and be deemed to be so executed in the absence of proof to the contrary. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4221455\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 34. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Disclosure of information}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - }{ \fs24\lang2057\langfe1033\langnp2057\insrsid683317\charrsid3365724 a}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 ny director or employee of the Authority who direct}{ \fs24\lang2057\langfe1033\langnp2057\insrsid4221455\charrsid3365724 ly or indirectly discloses or fo}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 r private purposes uses any information acquired by him either in the course of his duties or in his capacity as a director or employee of the}{\fs24\lang2057\langfe1033\langnp2057\insrsid4221455\charrsid3365724 }{ \fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Authority, shall be guilty of an offence against this Act and on conviction shall be liable to a fine not exceeding $500 or to imprisonment for a term not exceeding 3 months or to both such fine and imprisonment. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4221455\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 35. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Breach }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid4221455\charrsid3365724 o}{ \fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 f Act or Regulations}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - Every person who commits or attempts to commit or is co ncerned in committing or attempting to commit a breach or violation of the provisions of this Act or of any regulations made under this Act for which no special penalty is provided, is liable for every offence to a fine not exceeding $500. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4221455\charrsid3365724 \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 36. }{\fs24\ul\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 Regulations}{\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 - The Queen's Representative may from time to time by Order in Executive Council make all such regulations as may be necessary or expedient for giving full effect to the provisions of this Act and for the due administration thereof. \par }{\fs24\lang2057\langfe1033\langnp2057\insrsid4221455\charrsid3365724 \par }\pard \qc \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid4221455 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid4982353\charrsid3365724 __________________________ \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid4982353 {\b\fs24\lang2057\langfe1033\langnp2057\insrsid4982353\charrsid3365724 \par }\pard \qc \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid7487016 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 This Act is administered by the Treasury Department \par }\pard \ql \li0\ri0\nowidctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid12024036 {\fs24\lang2057\langfe1033\langnp2057\insrsid12024036\charrsid3365724 \par }}