(1) If a territory authority has a governing board, the governing board has the following functions:
(a) setting the authority's policies and strategies;
(b) governing the authority consistently with the authority's establishing Act and other relevant legislation;
(c) ensuring, as far as practicable, that the authority operates in a proper, effective and efficient way;
(d) ensuring, as far as practicable, that the authority complies with applicable governmental policies (if any).
Examples of policies for par (a)
1 risk management
2 communication with government
3 corporate planning
(2) This section does not limit the functions of a governing board.