This Act may be cited as the Board of Trade Act, 1950.

In this Act, unless the context otherwise requires,—

There is hereby established for the purposes of this Act a Board, to be known as the Board of Trade.

The Board, shall consist of such number of members, not exceeding four, as the Governor-General from time to time thinks fit to appoint.

The members of the Board shall be appointed by the Governor-General on the recommendation of the Minister, and shall be persons who, in the opinion of the Minister, are possessed of some special knowledge or qualifications that will be of advantage to the Board in the performance of its functions.

Every member of the Board shall be appointed for a term of three years, and may from time to time be reappointed, or may be at any time removed from office by the Governor-General for disability, insolvency, neglect of duty, or misconduct, or may at any time resign his office by writing addressed to the Minister.

No person shall be deemed to be employed in the service of His Majesty for the purposes of the Public Service Act, 1912, by reason of his being a member of the Board.

The powers of the Board shall not be affected by any vacancy in the membership of the Board.

The persons holding office on the passing of this Act as the Chairman and members of the Import Advisory Committee established by the Governor-General on the seventeenth day of May, nineteen hundred and fifty, shall be deemed to have been appointed to be the Chairman and members of the Board for a term of three years from that date.

Meetings of the Board shall be held at such times and places as the Board or the Chairman may from time to time appoint.

At any meeting of the Board two members shall form a quorum.

The Board may meet in private or in public, as the Board may from time to time decide. The Chairman shall cause such notice as he thinks fit to be given of any public meeting of the Board to persons likely to be affected thereby.

The Board may make an order prohibiting the publication (whether orally or in writing) of any report or description of any part of the proceedings or evidence in any matter before the Board. Every person who acts in contravention of any such order shall be liable on summary conviction to a fine not exceeding fifty pounds.

One member of the Board shall be appointed by the Governor-General on the recommendation of the Minister as the Chairman of the Board.

The Chairman shall preside at all meetings of the Board at which he is present.

If at any meeting of the Board the Chairman is not present, the members present shall appoint one of their number to be the Chairman of that meeting.

At any meeting of the Board the Chairman shall have a deliberative vote, and, in the case of an equality of votes, shall also have a casting vote.

A suitable person shall be appointed under the Public Service Act, 1912, to be the Secretary of the Board.

The principal function of the Board shall be to make recommendations to the Minister in respect of the economic aspects of any of the following matters:—

Ibid., p. 97 1936, No. 1

The Board may also, when requested by the Minister of Customs, make recommendations to the Minister of Finance, the Minister of Industries and Commerce, or any other Minister in respect of the economic aspects of any of the matters specified in subsection one of this section.

In addition to its functions as an advisory body, the Board shall have such functions and powers as may from time to time be delegated to the Board by any Minister or other authority pursuant to any Act or regulations relating to industries or trade, including in particular the licensing of imports and the licensing of exports other than agricultural or pastoral products.

The Minister may arrange for the Comptroller of Customs and any other officers of Customs to attend such meetings of the Board as may be deemed necessary, and to submit such reports and other information as may be required for the deliberations of the Board.

The Minister of Finance, or the Minister of Industries and Commerce, or any other Minister, when seeking a recommendation from the Board as hereinbefore provided, may arrange for any officer of his Department to attend such meetings of the Board as may be deemed necessary, and to submit such reports and other information as may be required for the deliberations of the Board.

The Board shall within the scope of its jurisdiction be deemed to be a Commission of Inquiry under the Commissions of Inquiry Act, 1908, and, subject to this Act, all the provisions of that Act shall apply accordingly.

The Chairman of the Board, or the Secretary of the Board purporting to act by direction of the Chairman, may exercise the powers of the Board in respect of citing parties and summoning witnesses, and may do any other act preliminary or incidental to the hearing or consideration of any matter by the Board.

In addition to its powers under the Commissions of Inquiry Act, 1908, the Board may from time to time, if it thinks fit, rehear any matter that has been heard and determined by it.

All information obtained by the Board or by any member or officer of the Board or by any other person in the course of the administration of this Act shall be treated as confidential, except for purposes connected with the administration of this Act.

Any information obtained by the Minister of Industries and Commerce by means of any judicial inquiry or any investigation made under the Board of Trade Act, 1919, may be made available to the Board by or by direction of that Minister.

There shall be paid to the Chairman and each member of the Board such remuneration by way of salary, fees, or allowances, and such travelling allowances and expenses as the Minister of Finance may from time to time approve.