sch.4-sec.122Board to keep shareholding Ministers informed

### sch.4-sec.122 Board to keep shareholding Ministers informed The board of a prescribed GOC subsidiary (the first subsidiary ) must— keep each of the first subsidiary’s shareholding GOCs reasonably informed of the operations, financial performance and financial position of the first subsidiary and its subsidiaries, including the assets and liabilities, profits and losses and prospects of the first subsidiary and its subsidiaries; and give to each shareholding GOC of the first subsidiary reports and information that the GOC requires to enable it to make informed assessments of matters mentioned in paragraph (a) ; and if matters arise that in the board’s opinion may prevent, or significantly affect, achievement of the objectives outlined in the statement of corporate intent or targets under the corporate plan of a shareholding GOC of the first subsidiary —immediately inform the shareholding GOC of the matters and its opinion in relation to them. Subsection (1) does not limit the matters of which the board is required to keep a shareholding GOC of a prescribed GOC subsidiary informed, or limit the reports or information that the board is required, or may be required, to give to a shareholding GOC of a prescribed GOC subsidiary , by the Corporations Act or another Act. sch 4 pt 2 ch 3 pt 11 s 122 ins 1998 No. 21 s 3 sch 1 amd 2001 No. 45 s 29 sch 3 ; 2007 No. 10 s 62 sch ; 2009 No. 9 s 127 (sch.4-sec.122-ssec.1) The board of a prescribed GOC subsidiary (the first subsidiary ) must— keep each of the first subsidiary’s shareholding GOCs reasonably informed of the operations, financial performance and financial position of the first subsidiary and its subsidiaries, including the assets and liabilities, profits and losses and prospects of the first subsidiary and its subsidiaries; and give to each shareholding GOC of the first subsidiary reports and information that the GOC requires to enable it to make informed assessments of matters mentioned in paragraph (a) ; and if matters arise that in the board’s opinion may prevent, or significantly affect, achievement of the objectives outlined in the statement of corporate intent or targets under the corporate plan of a shareholding GOC of the first subsidiary —immediately inform the shareholding GOC of the matters and its opinion in relation to them. (sch.4-sec.122-ssec.2) Subsection (1) does not limit the matters of which the board is required to keep a shareholding GOC of a prescribed GOC subsidiary informed, or limit the reports or information that the board is required, or may be required, to give to a shareholding GOC of a prescribed GOC subsidiary , by the Corporations Act or another Act. - (a) keep each of the first subsidiary’s shareholding GOCs reasonably informed of the operations, financial performance and financial position of the first subsidiary and its subsidiaries, including the assets and liabilities, profits and losses and prospects of the first subsidiary and its subsidiaries; and - (b) give to each shareholding GOC of the first subsidiary reports and information that the GOC requires to enable it to make informed assessments of matters mentioned in paragraph (a) ; and - (c) if matters arise that in the board’s opinion may prevent, or significantly affect, achievement of the objectives outlined in the statement of corporate intent or targets under the corporate plan of a shareholding GOC of the first subsidiary —immediately inform the shareholding GOC of the matters and its opinion in relation to them.