Victorian Current Acts

LOCAL GOVERNMENT ACT 2020 - SECT 111

    (1)     A Council must in participating in a beneficial enterprise under section 110—

        (a)     assess the total investment involved and the total risk exposure and ensure that its total risk exposure does not exceed its total investment; and

        (b)     if section 110(1)(a), (b) or (c) applies, ensure that the corporation is a limited corporation; and

        (c)     have regard to the risks involved; and

        (d)     establish risk management arrangements; and

        (e)     implement regular performance monitoring and reporting arrangements in relation to the beneficial enterprise; and

        (f)     ensure that any changes to the operation or purpose of the beneficial enterprise are reported to the Council; and

        (g)     identify and manage any risks associated with any changes to the operation or purpose of the beneficial enterprise.

    (2)     A Council must report on the operations and performance of each beneficial enterprise in its annual report.

Division 4—Powers in relation to land