66Board to be consulted on Investment Mandate

66 Board to be consulted on Investment Mandate

(1) Before giving the Board a direction under subsection 64(1), the responsible Ministers must: (a) send a draft of the direction to the Board; and (b) invite the Board to make a submission to the responsible Ministers on the draft direction within a reasonable time limit specified by the responsible Ministers; and (c) consider any submission that is received from the Board within that time limit. (2) If: (a) the responsible Ministers give the Board a direction under subsection 64(1); and (b) the Board made a submission to the responsible Ministers on a draft of the direction within the time limit specified by the responsible Ministers; the submission is to be tabled in each House of the Parliament with the direction.

Note: For tabling of the direction, see section 38 of the Legislation Act 2003.