STATE OWNED CORPORATIONS ACT 1989 - SECT 24A Annual reporting information: statutory SOCs

STATE OWNED CORPORATIONS ACT 1989 - SECT 24A

24A Annual reporting information: statutory SOCs

The annual reporting information prepared for a statutory SOC under the Government Sector Finance Act 2018 is to include a section that--

(a) identifies any actual departures from the performance targets (including financial targets) set out in the statement of corporate intent for the SOC for the period to which the report relates, and

(b) sets out the reasons for each of the departures from the performance targets.

Note : Both company SOCs and statutory SOCs are GSF agencies under the Government Sector Finance Act 2018 and therefore subject to its provisions (including in relation to the preparation of annual reporting information).