20OPower of portfolio Minister to notify board of public sector policies

#### 20O Power of portfolio Minister to notify board of public sector policies 20O Power of portfolio Minister to notify board of public sector policies > > (1) The portfolio Minister with the approval of the Treasurer may notify the board of a statutory SOC, in writing, of a public sector policy that is to apply to the SOC and its subsidiaries if the portfolio Minister is satisfied that it is necessary to give the notification in the public interest. > > > (2) The board must ensure that the policy is carried out in relation to the SOC and must, as far as practicable, ensure that the policy is carried out in relation to its subsidiaries. > > > (3) Before giving a notification under this section, the portfolio Minister must— > > > > > (a) consult with the board, and > > > > > (b) request the board to advise the portfolio Minister whether, in its opinion, carrying out the policy would not be in the best interests of the SOC or any of its subsidiaries. > > > (4) The SOC may be reimbursed, from money advanced by the Treasurer or appropriated by Parliament for the purpose, amounts not exceeding the estimated net cost of complying with such a notification, or the estimated net amount of revenue forgone through complying with such a notification, as determined by the Treasurer having regard to such factors as the Treasurer considers relevant in the circumstances. > > > (5) The portfolio Minister is required to cause a notice to be published in the Gazette setting out the reasons why a notification was given under this section and why it is in the public interest that the notification be given. > > > (6) A notice referred to in subsection (5) is to be published within 1 month after the notification is given. > > **ss 20K–20P:** Ins 1995 No 32, Sch 1 \[13\].