(1) TransLink must prepare, approve and give the Minister a written fare strategy making recommendations about fares for mass transit services under service contracts relating to the TransLink area during the following periods from TransLink's establishment--
(a) generally--each 5 year period;
(b) if the Minister, by notice, directs shorter periods--each of the shorter periods.
(2) A fare strategy can not be implemented unless it has been approved by the Minister.