21Strategic plans

21 Strategic plans

(1)  Every third financial year, the Board is to prepare a plan (strategic plan).

(2)  The strategic plan may be in respect of the following 3 financial years or, if the Board so determines, a greater number of financial years (the planning period).

(3)  In preparing a strategic plan, the Board is to have regard to the TMAG objectives and its obligations in respect of those objectives.

(4)  A strategic plan is to include the following:

(a) a statement of the Board's objectives for the planning period with particular regard to the general management, operation, financial sustainability and development of TMAG including the Board's financial plans;

(b) strategies for attaining those objectives;

(c) strategies for monitoring progress towards the attainment of those objectives and for managing risk and measuring success;

(d) an appraisal, if applicable, regarding the effectiveness and the attainment of the objectives of the previous strategic plan.

(5)  A strategic plan is to be consistent with –

(a) any applicable Ministerial statement of expectation; and

(b) any applicable Ministerial directions.

(6)  A strategic plan is to be in such form as the Board thinks fit.

(7)  In preparing a strategic plan, the Board –

(a) is to consult the Minister; and

(b) may consult such other persons as it thinks fit.

(8)  After preparing a strategic plan, the Board is to submit a draft of it to the Minister for approval.

(9)  The Minister may –

(a) approve the draft strategic plan as submitted; or

(b) require the Board to amend the draft strategic plan and resubmit it for approval.