Automatic Enrolment Retirement Savings System Act 2024
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Chapter 2 Board of Authority | ||
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Establishment of Board | ||
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10. (1) The Authority shall have a board (in this Act referred to as the “Board”) established under this Act to perform the functions of the Authority. | ||
(2) The Board shall, in addition to the other functions conferred on it by this Act— | ||
(a) satisfy itself that appropriate systems, procedures and practices are in place for the internal performance management and accountability of the Authority in respect of— | ||
(i) the performance of its functions, | ||
(ii) the achievement of the objectives in the statement of strategy under section 37 , and | ||
(iii) the achievement of the performance targets in the annual plan under section 38 , | ||
and | ||
(b) establish and implement arrangements for the management of the performance of the chief executive. | ||
(3) The Board shall be accountable to the Minister for the due performance of its functions. | ||
(4) The Board may delegate in writing to a committee of the Board or the chief executive any of the functions of the Authority or the Board, other than the functions under subsection (2). | ||
(5) If a function of the Authority or the Board is delegated to the chief executive under subsection (4), the delegation remains in force until the Board revokes the delegation by notice in writing given to the chief executive. | ||
(6) The Board shall inform the Minister in writing of any matter that it considers to require the Minister’s attention. | ||
(7) The Board shall retain in its possession the official seal of the Authority. |