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STATE OWNED CORPORATIONS ACT 1989 - SECT 8 Principal objectives of company SOCs

STATE OWNED CORPORATIONS ACT 1989 - SECT 8

Principal objectives of company SOCs

8 Principal objectives of company SOCs

(1) The principal objectives of every company SOC are--
(a) to be a successful business and, to this end--
(i) to operate at least as efficiently as any comparable businesses, and
(ii) to maximise the net worth of the State's investment in the SOC, and
(b) to exhibit a sense of social responsibility by having regard to the interests of the community in which it operates, and
(c) where its activities affect the environment, to conduct its operations in compliance with the principles of ecologically sustainable development contained in section 6 (2) of the Protection of the Environment Administration Act 1991 , and
(d) to exhibit a sense of responsibility towards regional development and decentralisation in the way in which it operates.
(2) Each of the principal objectives of a company SOC is of equal importance.