Commonwealth Numbered Acts

AUSTRALIAN NATIONAL RAILWAYS COMMISSION ACT 1983 No. 140 of 1983 - SECT 55

55. (1) The Commission shall, not later than 60 days before the commencement
of each financial year -

   (a)  determine, by instrument in writing, that the financial target of the
        Commission for the financial year is to be -

        (i)    a specified profit;

        (ii)   neither a profit nor a loss; or

        (iii)  a specified loss; and

   (b)  inform the Minister, by notice in writing, of the financial target
        that it has determined for the financial year.

(2) The Minister may, before the expiration of the period of 60 days after
receipt by him of notice under sub-section (1) of the financial target that
the Commission has determined for the financial year -

   (a)  determine, by instrument in writing, a different financial target for
        the
financial year; and

   (b)  inform the Commission, by notice in writing, of the financial target
that he has determined for the financial year and the reasons for his
determination.

(3) Subject to sub-section 19 (3), the Commission shall pursue a policy in the
financial year directed at ensuring that it attains the financial target for
the financial year.

(4) Subject to sub-section (6), the Commission shall, whenever it considers it
necessary or desirable to do so during the financial year, review the
financial results of its operations during the part of the financial year that
has elapsed and, if on any such review it appears to the Commission that its
progress towards attaining the financial target for the financial year has not
been satisfactory, the Commission shall, subject to sub-section (5) -

   (a)  forthwith consider what specific measures should be adopted by it in
        order to ensure that it attains the financial target; and

   (b)  inform the Minister, by notice in writing, of the respects in which
        its progress towards attaining the financial target has not been
        satisfactory, of the measures that it proposes to adopt in order to
        ensure that it attains the financial target and of the effect that, in
        its opinion, the adoption of those measures will have on the financial
        results of its operations for the financial year.

(5) The Commission shall not, for the purposes of sub-section (4), propose
that the financial target for the financial year should be attained, in whole
or in part, by means of moneys appropriated by the Parliament.

(6) The Commission shall ensure that not more than 6 months elapse between -

   (a)  the commencement of the financial year and the commencement of the
        first review under sub-section (4) in relation to the financial year;
        or

   (b)  the commencement of a review under sub-section (4) in relation to the
        financial year and the commencement of the next such review.

(7) A reference in sub-section (3), (4) or (5) of this section or in
sub-section 56 (1) to the financial target of the Commission for a financial
year is a reference to -

   (a)  the financial target determined by the Commission under sub-section

(1) for the financial year; or

   (b)  where the Minister has, under sub-section (2), determined a different
financial target for the financial year - the financial target so
determined.