Part 2 s 25 Crown Entities Act 2004 Version as at 1 July 2024 natural person act— (a) means an act that a natural person of full age and capacity can do (whether or not the act is something that is also authorised by an Act); and (b) includes entry into a contract for, or relating to,— (i) acquisition of financial products or borrowing: (ii) [Repealed] (iii) the purchase, leasing, or sale of, or other dealings with, property: (iv) the employment, or engagement of the services, of a person person dealing— (a) means the other party to the transaction, if the act of the statutory entity is a transaction; and (b) includes a person who has acquired property, rights, or interests from a statutory entity. Section 24 natural person act paragraph (b)(i): replaced, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70). Section 24 natural person act paragraph (b)(ii): repealed, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70). Role and accountability of members 25 Board’s role (1) The board is the governing body of a statutory entity, with the authority, in the entity’s name, to exercise the powers and perform the functions of the entity. (2) All decisions relating to the operation of a statutory entity must be made by, or under the authority of, the board in accordance with this Act and the entity’s Act. 26 Accountability of members to responsible Minister (1) Members of a statutory entity must comply with— (2) 24 (a) the board’s collective duties (in sections 49 to 52); and (b) their individual duties as members (in sections 53 to 57); and (c) any directions applicable to the entity under subpart 1 of Part 3. Members are accountable to the responsible Minister for performing their duties as members.