15ACorporate plan

15A Corporate plan

[Section 15A Inserted by No. 76 of 1995, s. 12 ]

(1)  In each financial year, the Board must prepare a corporate plan for TDR and its subsidiaries.

(2)  The corporate plan is to –

(a) cover a period of not less than 3 financial years commencing on the day when it takes effect; and

(b) contain a summary of the projected financial results of TDR and each of its subsidiaries in respect of the current financial year and each financial year covered by the plan; and

(c) contain a summary of the financial results of TDR and each of its subsidiaries in respect of the financial year immediately preceding the current financial year; and

(d) contain a statement of corporate intent; and

(e) be in such form and contain such information as the Minister specifies.

(3)  The Board must provide a draft of the corporate plan to the Minister and the Treasurer not later than 90 days before the day on which the corporate plan will take effect.

(4)  When a draft corporate plan is approved by the Minister it becomes the corporate plan of TDR.

(5)  The Minister must approve a corporate plan, prepared in accordance with this section and section 15B , by not later than 30 days before the day on which the corporate plan will take effect.

(6)  A corporate plan takes effect on the first day of the financial year next commencing after its approval by the Minister or such other time as the Minister may approve.

(7)  TDR may prepare an amendment of its corporate plan at any time.

(8)  An amendment of a corporate plan takes effect when it is approved by the Minister.

(9)  The Board must provide a copy of its corporate plan and an amended corporate plan to the Treasurer within 14 days after the Board has been notified of its approval by the Minister.

(10)  Except where the Minister otherwise approves, TDR must act in accordance with its corporate plan or amended corporate plan and ensure that a subsidiary acts in accordance with that corporate plan or amended corporate plan.