Commonwealth Numbered Acts

COMMONWEALTH BANKS AMENDMENT ACT 1984 No. 76 of 1984 - SECT 20

20. Sections 78, 79 and 80 of the Principal Act are repealed and the following
section is substituted: Management of Development Bank

"80. (1) The person occupying, or performing the duties of, a position in the
Service designated by the Board for the purposes of this sub-section shall,
under the Managing Director, manage the Development Bank.

"(2) The Managing Director and the person managing the Development Bank
pursuant to sub-section (1) shall, in relation to the management of the
Development Bank, act in accordance with the policy of the Development Bank
and with the directions of the Board.".