Commonwealth Numbered Acts

PUBLIC GOVERNANCE, PERFORMANCE AND ACCOUNTABILITY ACT 2013 (NO. 123, 2013) - SECT 95

Commonwealth companies

             (1)  The directors of a Commonwealth company must:

                     (a)  prepare a corporate plan for the entity; and

                     (b)  give the corporate plan to the responsible Minister and the Finance Minister in accordance with any requirements prescribed by the rules.

             (2)  The corporate plan must comply with, and be published in accordance with, any requirements prescribed by the rules.

             (3)  If:

                     (a)  a statement of the Australian Government's key priorities and objectives is published under section 34; and

                     (b)  the purposes of the Commonwealth company relate to those priorities and objectives;

then the corporate plan must set out how the activities of the company will contribute to achieving those priorities and objectives.

Subsidiaries

             (4)  If the Commonwealth company has subsidiaries, the corporate plan must cover both the company and its subsidiaries. In particular, for each subsidiary the corporate plan must include details of any matters prescribed by the rules, so far as they are applicable.