41Statement of corporate intent

41 Statement of corporate intent

[Section 41 Subsection (2) amended by No. 42 of 2002, s. 28, Applied:27 Nov 2002] [Section 41 Substituted by No. 18 of 2025, s. 18, Applied:01 Jan 2026]

(1)  In this section –

relevant financial year, in relation to a statement of corporate intent of a Government Business Enterprise, means the financial year during which the statement is to be in force in respect of the Government Business Enterprise.

(2)  Before the commencement of each financial year, the Board of each Government Business Enterprise must prepare a statement of corporate intent, in respect of the Government Business Enterprise and its subsidiaries, that is to be in force for that financial year.

(3)  A statement of corporate intent of a Government Business Enterprise must not disclose any information that the Board considers –

(a) may, if disclosed –

(i) disadvantage or cause damage to the Government Business Enterprise or its subsidiaries, either directly or indirectly; or

(ii) enable another person, directly or indirectly, to gain an advantage; or

(b) may otherwise be unlawful, or inappropriate, to disclose publicly.

(4)  A draft of a statement of corporate intent prepared under this section in respect of a Government Business Enterprise is to –

(a) relate to the Government Business Enterprise and its subsidiaries; and

(b) be consistent with each of the following:

(i) the ministerial charter for the Government Business Enterprise;

(ii) the corporate plan in respect of the Government Business Enterprise and its subsidiaries that is in force for the financial year to which the statement relates;

(iii) each direction under section 9A that is in effect in respect of the Government Business Enterprise and its subsidiaries;