127ZX   Management and control of Fund

(1)  The Fund Manager is to manage and control the Biobanking Trust Fund in accordance with this Act and the regulations.

(2)  The Fund Manager:

(a)  is to act as trustee of money vested in the Biobanking Trust Fund, and

(b)  is to invest the money vested in the Biobanking Trust Fund not immediately required for the purposes for which it is to be applied in the same way as trustees may invest trust funds under the Trustee Act 1925, subject to any requirements specified in the regulations, and

(c)  is to make payments from the Biobanking Trust Fund as authorised by this Act and the regulations.

(3)  The Fund Manager has such other functions as may be conferred on the Fund Manager by the regulations.

(4)  The Fund Manager may do all things necessary or convenient to be done in connection with the exercise of the Fund Manager’s functions.

(5)  The regulations may make further provision with respect to the Biobanking Trust Fund, including by providing for the following:

(a)  the investment of the money vested in the Fund,

(b)  the establishment of committees to advise the Fund Manager on the exercise of the Fund Manager’s functions under this Division or to oversee the exercise of those functions,

(c)  the obligation of the Fund Manager to report to the Minister on the exercise of the Fund Manager’s functions under this Division,

(d)  the winding up of the Fund,

(e)  the review of any complaints made against the Fund Manager.