42Future Fund Board to be consulted on Medical Research Future Fund Investment Mandate

42 Future Fund Board to be consulted on Medical Research Future Fund Investment Mandate

(1) Before giving the Future Fund Board a direction under subsection 39(1), the responsible Ministers must: (a) send a draft of the direction to the Future Fund Board; and (b) invite the Future Fund 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 Future Fund Board within that time limit. (2) Any submission made by the Future Fund Board on a draft direction in accordance with paragraph (1)(b) must be tabled in each House of the Parliament with the direction.

Note: As the direction is a legislative instrument, it is also tabled in each House of the Parliament under section 38 of the Legislation Act 2003.