57Corporate Plan

57 Corporate Plan

(1) The board must prepare a corporate plan for each financial year.

(2) The board must give a copy of the proposed plan to the 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 Minister and the Treasurer and must include—

(a) a statement of corporate intent in accordance with section 58;

(b) a business plan containing such information as the Minister or the Treasurer 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 Minister or the Treasurer within 2 months after the plan was submitted to the Minister and the Treasurer.

(5) The board must consult in good faith with the Minister and the Treasurer following communication to it of the comments, must make such changes to the plan as are agreed between the Minister, the Treasurer and the board and must deliver the completed plan to the Minister and the Treasurer 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(6) The plan, or any part of the plan, must not be published or made available except for the purposes of this Part without the prior approval of the Minister and the Treasurer.

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

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

(9) The Treasurer, after consultation with the 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 financial statement of a specified kind, any specified matters.

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

(11) The board must comply with a direction under this section.

S. 57(12) amended by No. 10/2017 s. 25(2).

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

S. 58 amended by Nos 35/2011 s. 14, 10/2017 s. 25(2).