18Strategic plans

18 Strategic plans

(1)  As soon as practicable after the commencement of this section, and, subject to subsection (2) , every third financial year after that, the Board is to prepare a plan (strategic plan).

(2)  The strategic plan may be in respect of the following 3 financial years or, if the Board so determines, a greater number of financial years (the planning period).

(3)  In preparing a strategic plan, the Board is to have regard to the Authority’s objectives, functions and powers.

(4)  In preparing a strategic plan, the Board –

(a) is to consult the Minister; and

(b) may consult such other persons as it thinks fit.

(5)  After preparing a strategic plan, the Board is to submit a draft of it to the Minister for approval.

(6)  The Minister may –

(a) approve the draft strategic plan as submitted; or

(b) require the Board to amend the draft strategic plan and resubmit it for approval.

(7)  To avoid doubt, the Minister's power under subsection (6)(b) may be exercised more than once.

(8)  Once a draft strategic plan has been approved by the Minister for a planning period –

(a) it takes effect as the strategic plan of the Board for that planning period; and

(b) the Board is to act during that planning period in accordance with the strategic plan.

(9)  The Board, having regard to changes of circumstance or for other reasonable cause, may prepare an amendment to its strategic plan at any time.

(10)  Subsections (4) , (5) , (6) and (7) have the same application to an amendment as they have to the plan itself, and the amendment takes effect once it has been approved by the Minister.