Commonwealth Numbered Acts

COMMONWEALTH AUTHORITIES AND COMPANIES ACT 1997 No. 153 of 1997 - SECT 17

(1) This section applies to a Commonwealth authority that is a GBE.

(2) The directors must prepare a corporate plan at least once a year and give
it to the responsible Minister.

(3) The plan must cover a period of at least 3 years.

(4) If the Commonwealth authority has subsidiaries, the plan must cover both
the authority and its subsidiaries. In particular, for each subsidiary the
plan must include details of the matters in subsection (6), so far as they are
applicable.

(5) The directors must keep the responsible Minister informed about:

   (a)  significant changes to the plan; and

   (b)  matters that arise that might significantly affect the achievement of
        the objectives in the plan.

(6) The plan must include details of the following matters (so far as they are
applicable):

   (a)  the objectives of the authority;

   (b)  assumptions about the business environment in which the authority
        operates;

   (c)  the business strategies of the authority;

   (d)  the investment and financing programs of the authority, including
        strategies for managing financial risk;

   (e)  financial targets and projections for the authority;

   (f)  the dividend policy of the authority;

   (g)  non-financial performance measures for the authority;

   (h)  community service obligations of the authority and the strategies and
        policies the authority is to follow to carry out those obligations;

   (i)  review of performance against previous corporate plans and targets;

   (j)  analysis of factors likely to affect achievement of targets or create
        significant financial risk for the authority or for the Commonwealth;

   (k)  price control and quality control strategies for goods or services
        supplied by the authority under a monopoly;

   (l)  human resource strategies and industrial relations strategies.

(7) The plan must also cover any other matters required by the responsible
Minister (which may include further details about the matters in subsection
(6)).

(8) The responsible Minister may give written guidelines to the directors that
are to be used by the directors in deciding which matters are covered by
subsection (5).