Commonwealth Consolidated Acts

INDUSTRY RESEARCH AND DEVELOPMENT ACT 1986 - SECT 21

             (1)  The Board may, by resolution, delegate to the Chairperson, another member or a member of the staff assisting the Board, all or any of its functions and powers, other than its functions or powers:

                     (a)  for PDFs--to make or revoke registration declarations under the Pooled Development Funds Act 1992 ; and

                     (b)  to register entities or revoke registration under Part 7A of the Pooled Development Funds Act 1992 ; and

                     (c)  to register limited partnerships as VCLPs, ESVCLPs or AFOFs or revoke registration under Part 2 of the Venture Capital Act 2002 ; and

                     (d)  to approve ESVCLPs' investment plans, and their replacement plans, under Part 2 of the Venture Capital Act 2002 ; and

                     (e)  to register entities as eligible venture capital investors or revoke registration under Part 3 of the Venture Capital Act 2002 ; and

                      (f)  to make determinations under Part 4 of the Venture Capital Act 2002 .

             (2)  The Board may, by resolution, delegate to a committee all or any of its functions and powers (including those referred to in paragraphs (1)(a) to (f)).

             (3)  A delegation of a function or power under this section:

                     (a)  may be revoked by a resolution of the Board (whether or not constituted by the persons constituting the Board at the time the function or power was delegated); and

                     (c)  continues in force notwithstanding a change in the membership of the Board.

             (4)  Section 34A of the Acts Interpretation Act 1901 applies in relation to a delegation under this section as if the Board were a person.

             (5)  A certificate signed by the Chairperson stating any matter with respect to a delegation of a function or power under this section is evidence of that matter unless evidence to the contrary is given.

             (6)  A document purporting to be a certificate mentioned in subsection (5) shall, unless the contrary is established, be deemed to be such a certificate and to have been duly given.