Victorian Current Acts Victorian Current Acts(1) Subject to subsection (6), a Council must develop, adopt and keep in force an Asset Plan in accordance with its deliberative engagement practices.
(2) The scope of an Asset Plan is a period of at least the next 10 financial years.
(3) An Asset Plan must include the following—
(a) information about maintenance, renewal, acquisition, expansion, upgrade, disposal and decommissioning in relation to each class of infrastructure asset under the control of the Council;
(b) any other matters prescribed by the regulations.
(4) Subject to subsection (6), a Council must develop or review the Asset Plan in accordance with its deliberative engagement practices and adopt the Asset Plan by 31 October in the year following a general election, other than the first general election to be conducted under section 257(1)(a).
(5) The Asset Plan adopted under subsection (4) has effect from 1 July in the year following a general election.
(6) A Council must develop and adopt an Asset Plan under this section in accordance with its community engagement policy by 30 June 2022 following the first general election to be conducted under section 257(1)(a).
(7) The Asset Plan adopted under subsection (6) has effect from 1 July 2022.