(1) The Minister may
give directions in writing to the Corporation in relation to the exercise of
the powers, or of any specified power, conferred on the Corporation by Part
III, including a direction that the Corporation shall not exercise such a
power without the prior approval in writing of the Minister, and the
Corporation shall give effect to any such direction.
(2) The approval in
writing referred to in subsection (1) may be given on, or subject to, such
terms and conditions as the Minister thinks fit.
(3) The text of any
direction given under subsection (1) shall be included in the annual report
submitted by the accountable authority of the Corporation under Part 5 of the
Financial Management Act 2006 .
(4) Subsection (1) has
effect subject to the Statutory Corporations (Liability of Directors) Act
1996 .
[Section 20 amended: No. 24 of 1992 s. 11; No. 25
of 1998 s. 22; No. 28 of 2006 s. 450; No. 77 of 2006 Sch. 1 cl. 186(1).]