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Higher Education Endowment Fund Bill 2007

Part 6 Miscellaneous

   

53   Higher Education Endowment Fund Investment Mandate and Maximum Grant Rules—additional obligations of responsible Ministers

Higher Education Endowment Fund Investment Mandate

             (1)  If the responsible Ministers propose to:

                     (a)  give a direction under subsection 24(1); or

                     (b)  vary or revoke a direction given under subsection 24(1);

the responsible Ministers must:

                     (c)  consider whether they should:

                              (i)  make rules under subsection 47(1); or

                             (ii)  vary or revoke rules made under subsection 47(1); and

                     (d)  consult the Future Fund Board about whether the responsible Ministers should:

                              (i)  make rules under subsection 47(1); or

                             (ii)  vary or revoke rules made under subsection 47(1).

Maximum Grant Rules

             (2)  If the responsible Ministers propose to:

                     (a)  make rules under subsection 47(1); or

                     (b)  vary or revoke rules made under subsection 47(1);

the responsible Ministers must:

                     (c)  consider whether they should:

                              (i)  give a direction under subsection 24(1); or

                             (ii)  vary or revoke a direction given under subsection 24(1); and

                     (d)  consult the Future Fund Board about whether the responsible Ministers should:

                              (i)  give a direction under subsection 24(1); or

                             (ii)  vary or revoke a direction given under subsection 24(1).

54   Nominated Minister

             (1)  As soon as practicable after the commencement of this Act, the responsible Ministers must, by writing, determine that one of them is to be the nominated Minister for the purposes of this Act.

             (2)  A determination under subsection (1) may be varied, but not revoked, in accordance with subsection 33(3) of the Acts Interpretation Act 1901 .

             (3)  A determination under subsection (1) is not a legislative instrument.

             (4)  The nominated Minister may give the other responsible Minister:

                     (a)  a report under subsection 51(1) or 52(2); or

                     (b)  a document under subsection 51(2) or 52(2); or

                     (c)  any other information or document obtained by the nominated Minister under this Act.

             (5)  As soon as practicable after receiving:

                     (a)  a report under subsection 51(1) or 52(2); or

                     (b)  a document under subsection 51(2) or 52(2); or

                     (c)  any other document or information under this Act;

the nominated Minister must give a copy of the report, document or other document or information, as the case may be, to the Education Minister.

55   Delegation by the Education Minister

             (1)  The Education Minister may, by writing, delegate any or all of his or her powers under section 15, 19, 45 or 50 to:

                     (a)  the Secretary of the Department; or

                     (b)  an SES employee, or acting SES employee, in the Department.

Note:          The expressions SES employee and acting SES employee are defined in section 17AA of the Acts Interpretation Act 1901 .

             (2)  In exercising powers under a delegation, the delegate must comply with any directions of the Education Minister.

56   Delegation by the Finance Minister

             (1)  The Finance Minister may, by writing, delegate his or her power under section 18 to:

                     (a)  an SES employee, or acting SES employee, in the Agency; or

                     (b)  the Chair.

Note:          The expressions SES employee and acting SES employee are defined in section 17AA of the Acts Interpretation Act 1901 .

             (2)  In exercising powers under a delegation, the delegate must comply with any directions of the Finance Minister.

57   Regulations

                   The Governor-General may make regulations prescribing matters:

                     (a)  required or permitted to be prescribed by this Act; or

                     (b)  necessary or convenient to be prescribed for carrying out or giving effect to this Act.