(1)  Within 3 months after receiving the ministerial statement of expectation or any amendment to the ministerial statement of expectation, the Board must provide to the Minister a statement of intent.

(2)  A statement of intent is to –

(a) specify the objectives of the Board for the period covered by the statement of intent; and

(b) address matters raised in the ministerial statement of expectation; and

(c) state the nature and scope of the activities to be carried out by the Board during the period covered by the statement of intent; and

(d) specify the performance criteria and other measures by which the performance of the Board is to be assessed against the objectives of the Board for the period covered by the statement of intent.

(3)  The statement of intent may contain any other matter the Board considers appropriate.

(4)  The Board may at any time at its own discretion or on the request of the Minister –

(a) amend the statement of intent; or

(b) revoke the statement of intent and substitute another statement of intent.

(5)  The statement of intent and any amendment to the statement of intent are to be in writing and signed by the chairperson of the Board.

(6)  The statement of intent or any amendment to the statement of intent takes effect on the day on which it is approved by the Minister or on a later day specified by the Minister.

(7)  The Board is to make a statement of intent approved by the Minister under subsection (6) available to the public in the manner determined by the Board.