Commonwealth Numbered Acts

AUSTRALIAN OVERSEAS PROJECTS CORPORATION ACT 1978 No. 105 of 1978 - SECT 14

14. (1) The Board shall keep the Minister informed of the decisions of the
Board with respect to matters of policy in relation to the performance of the
functions of the Corporation.

(2) Before adopting a policy (including an altered policy) with respect to any
matter relating to the performance of its functions, the Board shall submit
the policy for the approval of the Minister, and the Board shall not adopt the
policy without the approval of the Minister, or, except during such time as
the Minister permits, continue to pursue the policy where the Minister, having
approved the policy, subsequently withdraws his approval.

(3) If the Board fails to obtain the Minister's approval to a particular
policy or the Minister withdraws his approval of a particular policy, the
Board shall endeavour to reach agreement with the Minister as to the policy to
be adopted by the Board with respect to the matter of policy concerned and, in
the event of agreement not being reached within a time that the Minister
considers reasonable, the Minister may, by writing signed by him, determine a
policy to be adopted by the Board with respect to that matter, and the Board
shall adopt that policy.

(4) Nothing in this section shall be construed-

   (a)  as requiring the approval of the Minister to the Corporation's
        entering into a particular contract or giving a particular guarantee;
        or

   (b)  as empowering the Minister to determine that the Corporation shall or
        shall not enter into a particular contract or give a particular
        guarantee, but the Corporation shall not enter into a particular
        contract, or give a particular guarantee, contrary to a policy
        approved or determined by the Minister under this section.