20Members' statement of expectations

### 20 Members' statement of expectations > > (1)  As soon as practicable after the day on which the Company is incorporated, the members are to provide the Board with a statement of expectations. > > > (2)  The statement of expectations is to specify – > > > > > > (a) 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 may at any time 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)  [*\[Section 20 Subsection (5) inserted by No. 9 of 2018, s. 31, Applied:10 Sep 2018\]*](/view/html/inforce/2018-09-10/act-2018-009#GS31@EN) A statement of expectations and an amendment to a statement of expectations are to be in writing and signed by each member. > > > (6)  [*\[Section 20 Subsection (6) inserted by No. 9 of 2018, s. 31, Applied:10 Sep 2018\]*](/view/html/inforce/2018-09-10/act-2018-009#GS31@EN) 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)  [*\[Section 20 Subsection (7) inserted by No. 9 of 2018, s. 31, Applied:10 Sep 2018\]*](/view/html/inforce/2018-09-10/act-2018-009#GS31@EN) 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)](#GS20@Gs5@EN) .