sec.57ONotice of proposed significant action

### sec.57O Notice of proposed significant action This section applies if a dual sector entity proposes to— do anything that may have a significant adverse effect on the entity’s ability to meet its obligations under its operational plan; or sell, lease or mortgage property transferred to the entity, as a relevant TAFE entity, under a transfer regulation; or enter into an arrangement for any of its operations that commits to spending more than the amount prescribed under a regulation. Before taking any action mentioned in subsection (1) (the proposed significant action ), and as soon as practicable after proposing to take the action, the dual sector entity must give the Minister notice of the action. A dual sector entity is not required to comply with subsection (2) before taking the proposed significant action if details of the action, and a clear intention to take the action, are included in the entity’s operational plan for its current operational plan year. s 57O ins 2014 No. 24 s 6 (sec.57O-ssec.1) This section applies if a dual sector entity proposes to— do anything that may have a significant adverse effect on the entity’s ability to meet its obligations under its operational plan; or sell, lease or mortgage property transferred to the entity, as a relevant TAFE entity, under a transfer regulation; or enter into an arrangement for any of its operations that commits to spending more than the amount prescribed under a regulation. (sec.57O-ssec.2) Before taking any action mentioned in subsection (1) (the proposed significant action ), and as soon as practicable after proposing to take the action, the dual sector entity must give the Minister notice of the action. (sec.57O-ssec.3) A dual sector entity is not required to comply with subsection (2) before taking the proposed significant action if details of the action, and a clear intention to take the action, are included in the entity’s operational plan for its current operational plan year. - (a) do anything that may have a significant adverse effect on the entity’s ability to meet its obligations under its operational plan; or - (b) sell, lease or mortgage property transferred to the entity, as a relevant TAFE entity, under a transfer regulation; or - (c) enter into an arrangement for any of its operations that commits to spending more than the amount prescribed under a regulation.