21Statement of corporate intent: timetable and procedure

#### 21 Statement of corporate intent: timetable and procedure 21 Statement of corporate intent: timetable and procedure > > (1) The board of a State owned corporation must prepare and submit to the voting shareholders a draft written statement of corporate intent not later than one month after the commencement of each financial year of the corporation. > > > (2) The board must consider any comments on the draft statement of corporate intent that are made to it by the voting shareholders within 2 months after the commencement of the financial year of the corporation. > > > (3) The board must consult in good faith with the voting shareholders following communication to it of the comments, make such changes to the statement as are agreed between the voting shareholders and the board and deliver the completed written statement to the voting shareholders within 3 months after the commencement of the financial year. > > > (4) The statement may not, before it is laid before both Houses of Parliament, be published or made available to the public without the prior approval of the board and the voting shareholders. > > > (5) The statement may be modified at any time by the board with the agreement of the voting shareholders. > > > (6) If the board, by written notice to the voting shareholders, proposes a modification of the statement, the board may, within 14 days, make the modification unless the voting shareholders, by written notice to the board, direct the board not to make it. > > > (7) The voting shareholders may, from time to time, by written notice to the board, direct the board to include in, or omit from, a statement of corporate intent any specified matters. > > > (8) Before giving a direction under this section, the voting shareholders are to consult with the board as to the matters to be referred to in the notice. > > > (9) The corporation is required to comply with any such direction. > > > (10) At any particular time, the statement of corporate intent for the corporation is the completed statement, with any modifications or deletions made in accordance with this Part.