Commonwealth Consolidated Acts

COMMONWEALTH AUTHORITIES AND COMPANIES ACT 1997 - SECT 17

             (1)  This section applies to a Commonwealth authority that is a GBE.

             (2)  The directors must prepare a corporate plan at least once a year and give it to the responsible Minister.

             (3)  The plan must cover a period of at least 3 years.

             (4)  If the Commonwealth authority has subsidiaries, the plan must cover both the authority and its subsidiaries. In particular, for each subsidiary the plan must include details of the matters specified in the regulations for the purposes of subsection (6), so far as they are applicable.

             (5)  The directors must keep the responsible Minister informed about:

                     (a)  significant changes to the plan; and

                     (b)  matters that arise that might significantly affect the achievement of the objectives in the plan.

             (6)  The plan must include details of matters (so far as they are applicable) specified in the regulations for the purposes of this subsection.

             (7)  The plan must also cover any other matters required by the responsible Minister (which may include further details about the matters specified in the regulations for the purposes of subsection (6)).

             (8)  The responsible Minister may give written guidelines to the directors that are to be used by the directors in deciding which matters are covered by subsection (5).