10AMembers' statement of expectations

10A Members' statement of expectations

[Section 10A Inserted by No. 9 of 2018, s. 7, Applied:10 Sep 2018]

(1)  The members are to provide the Board with a statement of expectations.

(2)  The statement of expectations is to specify –

(a) the expectations of the members in relation to the strategic priorities of the Company; and

(b) the policy expectations of the members for the performance of the Company and its subsidiaries.

(3)  The members, at any time, may at their own discretion or on the application of the Board –

(a) amend the statement of expectations; or

(b) revoke the statement of expectations and substitute another statement of expectations.

(4)  Before or while preparing a statement of expectations or an amendment to a statement of expectations, the members are to consult with the Board.

(5)  A statement of expectations and an amendment to a statement of expectations are to be in writing and signed by each member.

(6)  A statement of expectations, or an amendment to a statement of expectations, takes effect on a day specified in it, being a day not earlier than the day on which the statement or amendment is provided to the Company.

(7)  The Minister must cause a copy of the statement of expectations, or of an amendment to a statement of expectations, to be laid before each House of Parliament within 10 sitting-days after the statement or amendment has been signed as required by subsection (5) .