sec.29Council to inform Minister about particular matters

### sec.29 Council to inform Minister about particular matters This section applies if the council becomes aware of a matter that may significantly affect— the financial viability of the institute or the council; or a proceeding against the institute that may result in payment of a significant amount of damages or legal costs a significant decrease in the value of funds held on investment by the council the administration or management of the institute or the council. the distribution of funds held by the council towards something that is outside the scope of the institute’s purpose The council must give the Minister written notice of the matter immediately after the council becomes aware of the matter. (sec.29-ssec.1) This section applies if the council becomes aware of a matter that may significantly affect— the financial viability of the institute or the council; or a proceeding against the institute that may result in payment of a significant amount of damages or legal costs a significant decrease in the value of funds held on investment by the council the administration or management of the institute or the council. the distribution of funds held by the council towards something that is outside the scope of the institute’s purpose (sec.29-ssec.2) The council must give the Minister written notice of the matter immediately after the council becomes aware of the matter. - (a) the financial viability of the institute or the council; or Examples of a matter that may significantly affect the institute’s financial viability— 1 a proceeding against the institute that may result in payment of a significant amount of damages or legal costs 2 a significant decrease in the value of funds held on investment by the council - 1 a proceeding against the institute that may result in payment of a significant amount of damages or legal costs - 2 a significant decrease in the value of funds held on investment by the council - (b) the administration or management of the institute or the council. Example of a matter that may significantly affect the administration or management of the institute— the distribution of funds held by the council towards something that is outside the scope of the institute’s purpose - 1 a proceeding against the institute that may result in payment of a significant amount of damages or legal costs - 2 a significant decrease in the value of funds held on investment by the council