38Corporate plan

38 Corporate plan

(1)  [Section 38 Subsection (1) amended by No. 35 of 2018, s. 13, Applied:17 Dec 2018] The Board, by 31 May in each year, is to prepare a corporate plan in respect of the period of 3 years commencing on 1 July in that year.

(2)  The corporate plan is to include the following:

(a) the objectives of the corporate plan;

(b) the major strategies to be used to progress those objectives;

(c) a statement of the Corporation's financial plans.

(3)  [Section 38 Subsection (3) amended by No. 35 of 2018, s. 13, Applied:17 Dec 2018] The corporate plan must be consistent with any site master plan for the time being in existence.

(4)  The Board is to provide a copy of the proposed corporate plan to the Minister for approval.

(5)  The Minister, may –

(a) approve the corporate plan; or

(b) require the Board to amend the corporate plan before approving it.

(6)  The Board may prepare an amendment of its corporate plan at any time.

(7)  An amendment of the corporate plan takes effect when the Minister approves the amendment.

(8)  An amendment of the corporate plan may take the form of a replacement corporate plan.

(9)  Except where the Minister otherwise approves, the Corporation must act in accordance with its corporate plan for the time being in existence.