13Duty of Board to notify Minister of developments

13 Duty of Board to notify Minister of developments

(1)  The Board must notify the Minister of any development which, in the opinion of the Board, may –

(a) have a significant impact on the Board achieving the Authority’s objectives or performing and exercising the Authority’s functions and powers under this Act; or

(b) prevent or significantly affect the achievement of the financial performance objectives under the current corporate plan; or

(c) significantly affect the financial viability or operating ability of the Authority.

(2)  A notification under subsection (1) is to be given as soon as practicable after the Board becomes aware of the development.