12Functions

12 Functions

12 Functions

(1) The Board has the following functions—

(a) to develop strategic investment plans for its activities, that include types of programs for which financial assistance will be provided to help achieve the objective of this Act,

(b) to develop programs of the type set out in the plan,

(c) to administer the programs, including by approving—

(i) the provision of financial assistance, and

(ii) the payment of amounts from the Fund for that purpose,

(d) to provide advice if requested to do so by the Minister or the Treasurer,

(e) to engage in other activities in relation to the objective of this Act if approved to do so by the Minister,

(f) other functions prescribed by the regulations.

(2) The provision of financial assistance from the Fund may, subject to the regulations, include grants, recoverable grants, loans or equity.

(3) The Board may do anything reasonably necessary to perform its functions, including entering contracts.

(4) The Board is subject to the direction and control of the Minister in the exercise of its functions except in relation to approving—

(a) the provision of financial assistance, and

(b) the payment of amounts from the Fund for that purpose.