111Process before participating in beneficial enterprises

111 Process before participating in beneficial enterprises (1) A Council must in participating in a beneficial enterprise under section 110— (a) assess the total investment involved and the total risk exposure and ensure that its total risk exposure does not exceed its total investment; and (b) if section 110(1)(a), (b) or (c) applies, ensure that the corporation is a limited corporation; and (c) have regard to the risks involved; and (d) establish risk management arrangements; and (e) implement regular performance monitoring and reporting arrangements in relation to the beneficial enterprise; and (f) ensure that any changes to the operation or purpose of the beneficial enterprise are reported to the Council; and (g) identify and manage any risks associated with any changes to the operation or purpose of the beneficial enterprise. (2) A Council must report on the operations and performance of each beneficial enterprise in its annual report. Division 4—Powers in relation to land