South Australian Consolidated Acts South Australian Consolidated Acts12H—Prudential requirements for certain activities
(1)
The Executive Board must obtain and consider a report that addresses the
prudential issues set out in subsection (2) before the Executive Board
engages in any project (whether commercial or otherwise and including through
participation in a joint venture, trust, partnership or other similar body) if
the expected expenditure of A n angu Pitjantjatjara Yankunytjatjara in
relation to the project is likely to exceed 20 per cent of A n angu
Pitjantjatjara Yankunytjatjara's approved budget for the year during which the
project would be undertaken.
(2) The following are
prudential issues for the purposes of subsection (1):
(a) the
relationship between the project and relevant strategic management plans (if
any);
(b) the
level of consultation with A n angu, including contact with A n angu who may
be affected by the project and the representations that have been made by
them, and the means by which A n angu can influence or contribute to the
project or its outcomes;
(c) if
the project is intended to produce revenue, revenue projections and potential
financial risks;
(d) the
recurrent and whole-of-life costs associated with the project including any
costs arising out of proposed financial arrangements;
(e) the
financial viability of the project, and the short and longer term estimated
net effect of the project on the financial position of A n angu Pitjantjatjara
Yankunytjatjara;
(f) any
risks associated with the project, and the steps that can be taken to manage,
reduce or eliminate those risks (including by the provision of periodic
reports to the Executive Board and the Minister);
(g) the
most appropriate mechanisms or arrangements for carrying out the project.
(3) A report must be
prepared by a person whom the Executive Board reasonably believes to be
qualified to address the prudential issues set out in subsection (2).
(4) A copy of the
report must be provided to the Minister as soon as practicable after being
received by the Executive Board.
(5) Once
the Executive Board has made a decision on the relevant project, a copy of the
report must be made available for inspection (without charge) by A n
angu—
(a) at
the places on the lands, and during the times, nominated by the
Executive Board and approved by the Minister; and
(b)
during ordinary office hours at the principal office of A n angu
Pitjantjatjara Yankunytjatjara,
(and may also be made available at an earlier time).
(6) However,
the Executive Board may take steps to prevent the disclosure of specific
information in order to protect its commercial value or to avoid disclosing
the financial affairs of a person (other than A n angu Pitjantjatjara
Yankunytjatjara).