Document ID: chunk:federal_register_of_legislation:C2004A03719:body:0:p6
Version: federal_register_of_legislation:C2004A03719
Segment Type: other
Provision Reference: 
Character Range: 13356–16018

section:
     'the required minimum number of directors' means:
         (a) if there are 9 directors—5 directors; and
         (b) in any other case—4 directors.

Disclosure of interests
"29. (1) Where:
     (a) a director has a direct or indirect pecuniary interest in a matter being considered, or about to be considered, by the Board; and
     (b) the interest could conflict with the proper performance of the director's duties in relation to the consideration of the matter;
the director shall, as soon as practicable after the relevant facts have come to the director's knowledge, disclose the nature of the interest at a meeting of the Board.
"(2) A disclosure under subsection (1) shall be recorded in the minutes of the meeting and, unless the Minister or the Board otherwise determines, the director shall not:
     (a) be present during any deliberation of the Board in relation to the matter; or
     (b) take part in any decision of the Board in relation to the matter.
"(3) For the purpose of the making of a determination by the Board under subsection (2) in relation to a director who has made a disclosure under subsection (1), a director who has a direct or indirect pecuniary interest in the matter to which the disclosure relates shall not:
     (a) be present during any deliberation of the Board for the purpose of making the determination; or

     (b) take part in the making by the Board of the determination.
"(4) Subsection (1) does not apply in relation to a matter relating to the provision of goods or services by the Corporation for the director if the goods or services are, or are to be, available to members of the public on the same terms and conditions.

Delegation of Board's powers
"30. (1) The Board may, by resolution, delegate all or any of its powers (other than its powers under section 10d and Division 4) to a director.
"(2) The delegate is, in the exercise of a delegated power, subject to the directions of the Board.
"(3) A delegation of a power under subsection (1):
     (a) may be revoked by resolution of the Board (whether or not constituted by the persons who constituted the Board when the power was delegated); and
     (b) continues in force in spite of a change in the membership of the Board.
"(4) A certificate signed by the Chairperson stating any matter in relation to a delegation of a power under subsection (1) is prima facie evidence of the matter.
"(5) A document purporting to be a certificate under subsection (4) shall, unless the contrary is established, be taken to be such a certificate and to have been properly given.
"Division 2—Managing Director

Managing Director
"31. There shall be