7Corporate plan

7 Corporate plan

7 Corporate plan

(1) The Authority is required to prepare and deliver to the Minister, at least 3 months before the beginning of each financial year, a draft corporate plan for the financial year.

(2) The Authority must—

(a) consider any comments on the draft corporate plan made by the Minister within 2 months after delivery of the plan to the Minister, and

(b) deliver the completed corporate plan to the Minister before the beginning of the financial year concerned.

(3) The corporate plan must specify—

(a) the objectives of the activities of the Authority for the financial year concerned and for future financial years, and

(b) the strategies, policies and budgets for achieving those objectives, and

(c) targets and criteria for assessing the Authority’s performance.

(4) The Authority is, as far as practicable, to exercise its functions in accordance with its corporate plan.

(5) This section is subject to the requirements of any directions of the Minister.