New South Wales Consolidated Acts New South Wales Consolidated Acts(cf State Owned Corporations Act 1989 , section 20P)
(1) The voting shareholders may give the Board a written direction in relation to the Corporation and its subsidiaries if they are satisfied that, because of exceptional circumstances, it is necessary to give the direction in the public interest.
(2) The Board must ensure that the direction is carried out in relation to the Corporation and must, as far as practicable, ensure that the direction is complied with in relation to its subsidiaries.
(3) Before giving a direction under this section, the voting shareholders:(a) must consult with the Board, and(b) must request the Board to advise the voting shareholders whether, in its opinion, complying with the direction would not be in the best interests of the Corporation or any of its subsidiaries.
(4) The Corporation may be reimbursed, from money advanced by the constituent councils for the purpose, amounts not exceeding the estimated net cost of complying with such a direction, or the estimated net amount of revenue forgone through complying with such a direction, as determined by the voting shareholders having regard to such factors as they consider relevant in the circumstances.
(5) The voting shareholders are required to cause a notice to be published in the Gazette setting out the reasons why a direction was given under this section and why it is in the public interest that the direction be given.
(6) A notice referred to in subsection (5) is to be published within one month after the direction is given.