73Board to be consulted on Investment Mandate

73 Board to be consulted on Investment Mandate

(1) Before giving the Board a direction under subsection 71(1), the Ministers must: (a) send a draft of the direction to the Board; and (b) invite the Board to make a submission to the Ministers on the draft direction within a reasonable time limit specified by the Ministers; and (c) consider any submission that is received from the Board within that time limit. (2) If: (a) the Ministers give the Board a direction under subsection 71(1); and (b) the Board made a submission to the Ministers on a draft of the direction within the time limit specified by the 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.

(3) The Ministers must omit any national security information or sensitive financial intelligence information from the submission tabled under subsection (2).