49Matters to be included in corporate plans

49 Matters to be included in corporate plans

In determining or revising a financial target to be included in a corporate plan, the Board must have regard to: (a) the need for EFIC to generate reserves sufficient to support expansion of its operations; and (b) the adequacy of EFIC’s capital, having regard to any determinations made by the Board for the purposes of section 56; and (c) any direction by the Minister under subsection 55(2) for the payment of a dividend by EFIC in respect of the financial year to which the target relates; and (d) any direction by the Minister under subsection 55A(2) for the payment of a dividend by EFIC in the financial year to which the target relates.

Note: Section 35 of the Public Governance, Performance and Accountability Act 2013 requires the Board to prepare corporate plans.