165Corporate plan

165 Corporate plan

(1) The requirements in this section are in addition to the requirements under section 64.

(2) The board of directors of a Transport Corporation must give a copy of the proposed corporate plan to the Minister on or before 31 May in each year.

S. 165(3) substituted by No. 49/2019 s. 31(1).

(3) The proposed corporate plan must be in a form approved by the Minister.

S. 165(3A) inserted by No. 49/2019 s. 31(1).

(3A) The Minister must give any comments on the proposed corporate plan within 6 weeks after the proposed corporate plan was given to the Minister.

S. 165(4) amended by No. 61/2011 s. 19, substituted by No. 49/2019 s. 31(1).

(4) The board of directors of a Transport Corporation must consider any comments on the proposed corporate plan made by the Minister within 6 weeks after the comments were given by the Minister.

(5) The board of directors of a Transport Corporation must—

(a) consult in good faith with the Minister following communication to the board of directors of the comments;

(b) make such changes to the plan as are agreed between the Minister and the board of directors;

(c) deliver the completed corporate plan to the Minister within 2 months after the commencement of the financial year.

(6) The corporate plan, or any part of the corporate plan, must not be published or made available except for the purposes of this Part without the prior approval of the board of directors of the Transport Corporation and the Minister.

(7) The corporate plan may be modified at any time by the board of directors of the Transport Corporation with the agreement of the Minister.

(8) If the board of directors of a Transport Corporation, by written notice to the Minister, proposes a modification to the corporate plan, the board of directors may make the modification unless the Minister, by written notice within 14 days, directs the board of directors not to make the modification.

S. 165(9) amended by No. 49/2019 s. 31(2).

(9) The Minister may, by written notice, direct the board of directors of a Transport Corporation to include in, or omit from, a business plan or a financial statement of a specified kind, any specified matters.

(10) Before giving a direction under this section, the Minister must consult with the board of directors of the Transport Corporation as to the matters referred to in the notice.

(11) The board of directors of the Transport Corporation must comply with a direction under this section.

S. 165(12) amended by No. 49/2019 s. 31(3).

(12) At any particular time, the business plan or the financial statements for a Transport Corporation are the statements and plan last completed, with any modifications or deletions made in accordance with this Division.