Commonwealth Numbered Acts

AUSTRALIAN BROADCASTING CORPORATION AMENDMENT ACT 1993 No. 3 of 1994 - SECT 9

9. The Principal Act is amended by inserting after section 31 the following
Part:
                   "PART IVA-CORPORATE PLANS
Corporate plans

"31A. (1) The Board must prepare corporate plans.

"(2) The first corporate plan:

   (a)  is to be for a period of not less than 3 years, and not more than 5
        years; and

   (b)  must be given to the Minister within a period of 6 months after the
        day on which this section commences.

"(3) Each subsequent corporate plan is to be for a period of not less than 3
years, and not more than 5 years, beginning immediately after the period of
the previous corporate plan.

"(4) The Board may review and revise a corporate plan at any time. Matters to
be included in corporate plans

"31B. (1) Each corporate plan must:

   (a)  set out the objectives of the Corporation and its subsidiaries; and

   (b)  outline the overall strategies and policies that the Corporation and
        its subsidiaries are to follow:

        (i)    to achieve the Corporation's objectives; and

        (ii)   to fulfil the Corporation's functions; and

        (iii)  to ensure that the Board fulfils its duties under section 8;
               and

   (c)  include a forecast of the revenue and expenditure of the Corporation
        and its subsidiaries, including a forecast of capital expenditure and
        borrowings; and

   (d)  include such performance indicators and targets (whether financial or
        operational) as the Board considers appropriate; and

   (e)  include such other matters as are prescribed in the regulations.

"(2) In this section:
'subsidiary' means a prescribed company within the meaning of section 25A that
the Corporation controls. Corporate plans to be given to Minister

"31C. As soon as practicable after the Board prepares or revises a corporate
plan, it must give a copy of the plan to the Minister. Board to notify
Minister of certain matters

"31D. If the Board forms the opinion that matters have arisen:

   (a)  that may prevent, or significantly affect, achievement of the
        objectives in the Corporation's corporate plan; or

   (b)  that may significantly affect the strategies and policies that are to
        be followed under that plan; or

   (c)  that may prevent, or significantly affect, the forecasts of revenue
        and expenditure under that plan; the Board must immediately notify the
        Minister of its opinion and the reasons for the opinion.".