20EPrincipal objectives of statutory SOCs

20E Principal objectives of statutory SOCs

20E Principal objectives of statutory SOCs

(1) The principal objectives of every statutory SOC are—

(a) to be a successful business and, to this end—

(i) to operate at least as efficiently as any comparable businesses, and

(ii) to maximise the net worth of the State’s investment in the SOC, and

(b) to exhibit a sense of social responsibility by having regard to the interests of the community in which it operates, and

(c) where its activities affect the environment, to conduct its operations in compliance with the principles of ecologically sustainable development contained in section 6 (2) of the Protection of the Environment Administration Act 1991, and

(d) to exhibit a sense of responsibility towards regional development and decentralisation in the way in which it operates.

(2) Each of the principal objectives of a statutory SOC is of equal importance.

s 20E: Ins 1995 No 32, Sch 1 [13].