Western Australian Consolidated Acts Western Australian Consolidated Acts (1) The
Authority’s board of management, as soon as is practicable after the end
of each financial year, is to make a recommendation to the Minister as
to —
(a)
whether the Authority should pay to the Consolidated Account a final dividend
for that year; and
(b) if
so, the amount that should be paid.
(2) The Minister, with
the Treasurer’s concurrence —
(a) may
accept a recommendation under subsection (1); or
(b)
after consultation with the Authority’s board of management, is to
direct the Authority to pay a final dividend of an amount fixed in the
direction.
(3) The Authority is
to pay the dividend —
(a) as
soon as practicable after the Minister fixes an amount under
subsection (2); and
(b) in
any case not later than —
(i)
6 months after the end of the financial year for
which the final dividend is to be paid; or
(ii)
such other time as the Treasurer and the
Authority’s board of management may agree.
(4) If the
Authority’s board of management considers that payment to the
Consolidated Account of an interim dividend for a financial year is justified,
the board may make a recommendation to the Minister as to the amount of the
interim dividend that should be paid.
(5) The Minister, with
the Treasurer’s concurrence —
(a) may
accept a recommendation under subsection (4); or
(b)
after consultation with the Authority’s board of management, is to
direct the Authority to pay an interim dividend of an amount fixed in the
direction.
(6) The Authority is
to pay the dividend —
(a) as
soon as practicable after the Minister fixes an amount under
subsection (5); and
(b) in
any case not later than the end of the financial year for which the interim
dividend is to be paid.
(7) The Minister must,
within 14 days after a direction is given under subsection (2)
or (5), cause the text of it to be laid before each House of Parliament
or dealt with under section 91.
[Section 71 amended by No. 77 of 2006
s. 4.]