The members of the Regulatory Board form the accounting authority of the Regulatory Board within the meaning of the Public Finance Management Act and must, in addition to the duties and responsibilities provided for in the Public Finance Management Act—
| (a) | provide effective, transparent, accountable and coherent corporate governance and conduct effective oversight of the affairs of the Regulatory Board; |
| (b) | comply with all applicable legislation and agreements; |
| (c) | communicate openly and promptly with the Minister, any ministerial representatives, professional bodies and registered auditors; |
| (d) | deal with the Minister, any ministerial representatives, professional bodies, registered auditors and all other persons in good faith; and |
| (e) | at all times act in accordance with the code of conduct for members of the Regulatory Board as may be prescribed by the Minister. |
