Victorian Consolidated Legislation

State Owned Enterprises Act 1992 - SECT 41

Corporate plan

41. Corporate plan



(1) The board of a State business corporation must prepare a corporate plan
each year.

(2) The board must give a copy of the proposed plan to the relevant Minister
and the Treasurer on or before 31 May in each year.

(3) The proposed corporate plan must be in or to the effect of a form approved
by the relevant Minister and the Treasurer and must include-

   (a)  a statement of corporate intent in accordance with section 42;

   (b)  a business plan containing such information as the Treasurer or the
        relevant Minister requires;

   (c)  financial statements containing such information as the Treasurer
        requires.



(4) The board must consider any comments on the proposed plan that are made to
it by the Treasurer or the relevant Minister within 2 months after the plan
was submitted to the Treasurer and relevant Minister.

(5) The board must consult in good faith with the Treasurer and the relevant
Minister following communication to it of the comments, must make such changes
to the plan as are agreed between the Treasurer, the relevant Minister and the
board and must deliver the completed plan to the Treasurer and relevant
Minister within 2 months after the commencement of the financial year.

(6) The plan, or any part of the plan, must not be published or made available
except for the purposes of this Part without the prior approval of the board,
the Treasurer and the relevant Minister.

(7) The plan may be modified at any time by the board with the agreement of
the Treasurer and the relevant Minister.

(8) If the board, by written notice to the Treasurer and relevant Minister,
proposes a modification of the plan, the board may, within 14 days, make the
modification unless the Treasurer or relevant Minister, by written notice to
the board, directs the board not to make it.

(9) The Treasurer or relevant Minister may, from time to time, by written
notice to the board, direct the board to include in, or omit from, a statement
of corporate intent, a business plan or a prescribed financial statement, any
specified matters.

(10) Before giving the direction under this section, the Treasurer and
relevant Minister must consult with the board as to the matters to be referred
to in the notice.

(11) The State business corporation must comply with a direction under this
section.

(12) At any particular time, the statement of corporate intent, the business
plan or the financial statements for the State business corporation are the
statements and plan last completed, with any modifications or deletions made
in accordance with this Part.