CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.5 - COMPENSATION REGIMES FOR FINANCIAL MARKETS  

Division 4 - NGF Compensation regime  

Subdivision D - The SEGC  

SECTION 890C   DELEGATION  

890C(1)   [ SEGC board]  

Subject to this section, all decisions of the SEGC in relation to the performance of its functions, and the exercise of its powers, under this Part must be made by the board of the SEGC.

890C(2)   [ Limits on delegation]  

The board of the SEGC must not delegate any of the following powers of the SEGC:


(a) the power to borrow under section 889E ;


(b) the power to determine the order of payments under section 889H ;


(c) the power to determine a minimum amount under section 889I ;


(d) the power to make operating rules under section 890D ;


(e) the power (or duty) to make a payment under section 891A .

890C(3)   [ Delegation]  

Otherwise, the board of the SEGC may delegate any of their powers under this Part in accordance with section 198D .


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