sec.110Statement of corporate intent pending agreement

### sec.110 Statement of corporate intent pending agreement If a draft statement of corporate intent has not been agreed to by the shareholding Ministers within 2 months from the day on which the GOC becomes a GOC, the draft statement of corporate intent submitted, or last submitted, by the board to the shareholding Ministers before that time (with any modifications made by the board, whether before or after that time, at the direction of the shareholding Ministers) is taken to be the GOC’s statement of corporate intent until a draft statement of corporate intent becomes the GOC’s statement of corporate intent under section 109 (Statement of corporate intent on agreement). If, in the case of a subsequent financial year, the shareholding Ministers of a GOC have not agreed to a draft statement of corporate intent before the start of the financial year, the draft statement of corporate intent submitted, or last submitted, by the board to the shareholding Ministers before the start of the financial year (with any modifications made by the board, whether before or after that time, at the direction of the shareholding Ministers) is taken to be the GOC’s statement of corporate intent until a draft statement of corporate intent becomes the GOC’s statement of corporate intent under section 109 . (sec.110-ssec.1) If a draft statement of corporate intent has not been agreed to by the shareholding Ministers within 2 months from the day on which the GOC becomes a GOC, the draft statement of corporate intent submitted, or last submitted, by the board to the shareholding Ministers before that time (with any modifications made by the board, whether before or after that time, at the direction of the shareholding Ministers) is taken to be the GOC’s statement of corporate intent until a draft statement of corporate intent becomes the GOC’s statement of corporate intent under section 109 (Statement of corporate intent on agreement). (sec.110-ssec.2) If, in the case of a subsequent financial year, the shareholding Ministers of a GOC have not agreed to a draft statement of corporate intent before the start of the financial year, the draft statement of corporate intent submitted, or last submitted, by the board to the shareholding Ministers before the start of the financial year (with any modifications made by the board, whether before or after that time, at the direction of the shareholding Ministers) is taken to be the GOC’s statement of corporate intent until a draft statement of corporate intent becomes the GOC’s statement of corporate intent under section 109 .