| 76(1) |
The Minister may, whenever the Minister considers it
necessary, review or appoint a person to review |
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(a) |
the conduct of the Council, |
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(b) |
any matter relating to the Fund, |
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(c) |
any matter relating to the Foundation, or |
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(d) |
any matter affecting the industry or its regulation. |
| (2) |
The Minister or other person conducting the review under
subsection (1) |
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(a) |
may require the attendance of any member, officer or
employee of the Council or the board of governors of the
Foundation or of any other person whose presence is
considered necessary during the course of the review, and |
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(b) |
has the same powers, privileges and immunities as a
commissioner under the Public Inquiries Act. |
| (3) |
When required to do so by the Minister or other person
conducting a review, a person referred to in subsection (2)(a) shall
produce for review all books and records that are in that person’s
possession or under that person’s control that are relevant to the
subject-matter of the review. |
| (4) |
A person, other than the Minister, who conducts a review shall
forthwith on the conclusion of the review report in writing to the
Minister. |
| (5) |
On conducting a review or receiving a report under subsection
(4), the Minister may by order direct that the Council, the
Foundation or any member, officer or employee of the Council or
of the board of governors of the Foundation take any action that the
Minister considers appropriate in the circumstances. |
| (6) |
If an order under subsection (5) is not carried out to the
satisfaction of the Minister, the Minister may by order do either or
both of the following: |
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(a) |
appoint a comptroller to oversee the management of the
affairs of the Council or the Foundation or the
administration of the Fund, as the case may be, and attach
terms and conditions to the continued operation of the
Council, the Foundation or the Fund, as the case may be; |
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(b) |
dismiss all or any of the members of the Council or the
board of governors of the Foundation or the member,
officer or employee who failed to carry out the order. |
| (7) |
If the Minister dismisses the Council or the board of governors
of the Foundation, the Minister may in the same or a subsequent
order do either or both of the following: |
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(a) |
appoint an official administrator to manage the affairs of
the Council or the Foundation, as the case may be, until a
new Council or board of governors is appointed; |
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(b) |
direct that a new Council or board of governors be
appointed under this Act. |
| (8) |
An order under subsection (7)(a) may provide for the payment
of remuneration and expenses to the official administrator and may
provide that the remuneration and expenses are the responsibility of
the Council or the Foundation, as the case may be. |
| (9) |
An official administrator has all the powers and is subject to all
the obligations of the Council or the Foundation, as the case may
be, under this Act. |
| (10) |
An order or direction under subsection (5), (6) or (7) takes
effect on the service of a copy of it on the person to whom it is
directed. |
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