Northern Territory Consolidated Acts Northern Territory Consolidated Acts28C. Port Corporation to report to Minister regarding financial position
(1) If the Port Corporation considers a matter is affecting, or is likely to affect, its operations in a way that hinders, prevents or otherwise adversely affects to a significant degree the performance of its functions or its financial position, the Corporation must, as soon as practicable after becoming aware of the matter, inform the Minister in writing of -
(a) the matter;
(b) the reasons why it considers the matter is affecting, or will affect, that performance or financial position; and
(c) the effect the matter is having, or the likely effect the matter will have, on that performance or financial position.
(2) The Port Corporation must, in writing, report to the Minister for each financial year or other reporting period determined by the Minister about its financial performance during that period and its expected financial performance during the next 2 reporting periods.
(3) The report must -
(a) specify the financial performance targets of the Port Corporation for the reporting period, identify the targets the Corporation achieved and the targets it exceeded and identify the targets it did not achieve and specify the reasons why it did not achieve them;
(b) detail the financial performance objectives of the Corporation for the next 2 reporting periods and include details of -
(i) the projected nature and scope of its activities for those periods, including material contracts and terms and conditions of any lease or sale or purchase of real property;
(ii) its financial projections for those periods; and
(iii) the likely financial risks for the Corporation and its strategies to minimise the risks; and
(c) contain any other information the Minister requires.
(4) The Port Corporation must give the report to the Minister within 3 months after the end of the reporting period it refers to.