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UNIVERSITY OF NEW ENGLAND ACT 1993 - SECT 21B
Guidelines for commercial activities
21B Guidelines for commercial activities
(1) The Council must by resolution determine, and must maintain, Guidelines
requiring specified processes and procedures to be followed in connection with
University commercial activities.
(2) The Council may by resolution amend or
replace the Guidelines from time to time.
(3) Without limitation,
the Guidelines may contain provision for or with respect to the following in
connection with University commercial activities-- (a) requiring feasibility
and due diligence assessment,
(b) requiring the identification of appropriate
governance and administrative arrangements (including as to legal structures
and audit requirements),
(c) requiring the undertaking of risk assessment and
risk management measures,
(d) regulating and imposing requirements concerning
the delegation by the Council of any of its functions under this Act in
connection with University commercial activities,
(e) declaring a specified
activity to be a University commercial activity for the purposes of paragraph
(b) of the definition of that expression in section 21A,
(f) establishing a
protocol regarding the rights and responsibilities of members of the Council
in relation to commercialisation, with a view to avoiding real or apparent
conflicts of interest.
(4) The Council must ensure that the Guidelines are
complied with.
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