Commonwealth Consolidated Acts

AUSTRALIAN INDUSTRY DEVELOPMENT CORPORATION ACT 1970 - SECT 9

             (1)  The Minister may, by written notice given to the Board, give directions to the Corporation about the performance of the Corporation's functions or the exercise of the Corporation's powers.

             (2)  A direction under subsection (1) may be given for the purposes of winding down the various activities of the Corporation and, in particular, a direction may:

                     (a)  require the Corporation to:

                              (i)  cease to perform a specified function; or

                             (ii)  cease to exercise a specified power; or

                     (b)  impose restrictions or conditions on:

                              (i)  the performance by the Corporation of a specified function; or

                             (ii)  the exercise by the Corporation of a specified power.

Note:          For specification by class, see section 46 of the Acts Interpretation Act 1901 .

             (3)  A direction under subsection (1) may make provision for or in relation to a matter by conferring a power on the Minister.

             (4)  Subsections (2) and (3) do not, by implication, limit subsection (1).

             (5)  The Corporation must comply with a direction under subsection (1).

             (6)  A copy of a direction under subsection (1) is to be published in the Gazette within 14 days after the giving of the direction.