11Operating Mandate

#### 11 Operating Mandate (1) The responsible Ministers must, by legislative instrument, give directions (the Operating Mandate) to the Corporation about the performance of the Corporation’s functions. > Note: Part 4 of Chapter 3 (sunsetting) of the Legislation Act 2003 does not apply to the directions (see regulations made for the purposes of paragraph 54(2)(b) of that Act). (2) Without limiting subsection (1), a direction forming part of the Operating Mandate may be given in relation to the following: (a) the objectives that the Corporation is to pursue in administering: (i) farm business loans; or (ii) financial assistance in relation to water infrastructure projects; or (iii) programs prescribed by the rules under subsection 8(5); (b) expectations in relation to the strategies and policies to be followed for the effective performance of the Corporation’s functions; (c) eligibility criteria for loans or financial assistance; (d) financial arrangements in relation to the Corporation, including how amounts received by the Corporation are to be dealt with and the circumstances in which they are to be remitted to the Commonwealth; (e) any other matters the responsible Ministers think appropriate. (3) The Operating Mandate must not direct, or have the effect of directing, the Corporation in relation to: (a) a particular farm business loan; or (b) a particular loan provided by the Corporation under a program prescribed by the rules under subsection 8(5). (4) Despite regulations made for the purposes of paragraph 44(2)(b) of the Legislation Act 2003, section 42 (disallowance) of that Act applies to a direction forming part of the Operating Mandate.