Document ID: chunk:federal_register_of_legislation:C2004A03362:body:0:p3
Version: federal_register_of_legislation:C2004A03362
Segment Type: other
Provision Reference: 
Character Range: 5885–8851

substituting "Board".

Functions of the Organisation
7. Section 9 of the Principal Act is amended—
     (a) by inserting after paragraph (b) the following paragraphs:
          "(ba) to encourage or facilitate the application or utilisation of the results of any other scientific research;
          (bb) to carry out services, and make available facilities, in relation to science;";
     (b) by omitting from sub-paragraph (g) (iii) "Executive thinks fit" and substituting "Chief Executive determines"; and
     (c) by adding at the end the following sub-section:
    "(2) The Organisation shall—
          (a) treat the functions referred to in paragraphs (1) (a) and (b) as its primary functions; and
          (b) treat the other functions referred to in sub-section (1) as its secondary functions.".

Powers of the Organisation
8. (1) Section 9aa of the Principal Act is amended—
     (a) by omitting from paragraph (b) all the words after "company";
     (b) by omitting from paragraphs (c) and (d) "Executive" and substituting "Chief Executive";
     (c) by omitting from paragraph (e) "Executive thinks fit" and substituting "Chief Executive determines";
     (d) by inserting in paragraph (e) ", or facilities made available," after "carried out"; and
     (e) by adding at the end the following sub-sections:
    "(2) The Organisation shall not, without the written approval of the Minister, hold a controlling interest in a company.
    "(3) An approval under sub-section (2)—
          (a) may be of general application or may relate to a particular company or proposed company; and
          (b) may be given subject to conditions or restrictions set out in the instrument of approval.
    "(4) Where the Organisation commences to hold a controlling interest in a company, the Minister shall—
          (a) cause to be prepared a statement setting out particulars of, and the reasons for, the holding of that controlling interest; and

          (b) cause a copy of the statement to be laid before each House of the Parliament within 15 sitting days of that House after—
              (i) the Organisation commenced to hold that controlling interest; or
              (ii) if the Minister is of the opinion that the disclosure of the holding of the controlling interest would affect adversely the commercial interests of the Organisation, the Minister ceases to be of that opinion.
    "(5) Nothing is invalid on the ground that the Organisation has failed to comply with sub-section (2).
    "(6) Where the Organisation holds a controlling interest in a company, the Organisation shall ensure that the company does not do any act or thing that, if done by the Organisation, would not be within the functions of the Organisation.".
(2) Sub-section 9aa (2) of the Principal Act as amended by this Act does not apply to a controlling interest that commenced to be held before the commencement of this section.

Institutes to be established
9. Section 9ab