Western Australian Current Acts Western Australian Current Acts (1) The Board is the
governing body of Gold Corporation and its subsidiaries, the Mint and
GoldCorp.
(2) Subject to this
Act, the Board has power —
(a) to
determine the policy of Gold Corporation, the Mint and GoldCorp in relation to
any matter and to control the affairs of Gold Corporation and each of its
subsidiaries; and
(b) to
determine the respective functions and operations to be performed by Gold
Corporation and each of its subsidiaries.
(3) Subject to this
Act, the Board shall —
(a)
perform the functions and develop and expand the business of Gold Corporation
and its subsidiaries for the benefit and to the greatest advantage of the
people of Australia;
(b)
perform its functions in accordance with prudent commercial principles; and
(c) use
its best endeavours to ensure that the revenue of Gold Corporation is
sufficient to meet its expenditure and to derive a profit by earning a
commercial rate of return on its capital.
(4) The Board and the
Minister shall, at the request of either, consult together, either personally
or through appropriate representatives, in relation to any aspect of the
policy, functions or management of Gold Corporation or any of its
subsidiaries.
(5) The Minister may
give directions in writing to Gold Corporation with respect to its functions
and powers, either generally or with respect to a particular matter (but not
in relation to its dealings with any particular person), and the Board shall
ensure that the Corporation gives effect to any such direction.
(6) The text of any
direction received by Gold Corporation under subsection (5) shall be included
in the annual report submitted by the accountable authority of Gold
Corporation under Part 5 of the Financial Management Act 2006 .
(7) For parliamentary
purposes, or for the proper conduct of the Minister’s public business
—
(a) Gold
Corporation shall furnish to the Minister all information in the possession of
Gold Corporation relating to the business of Gold Corporation or a subsidiary;
and
(b) the
Board shall ensure that the Minister shall have and may retain copies of any
documents requested.
(8) Gold Corporation
shall exercise such control over any subsidiary as to ensure that the Board is
provided with all the information relating to the subsidiary that Gold
Corporation needs in order to comply with subsection (7).
(9) For the purposes
specified in subsection (7) the Minister may —
(a)
request Gold Corporation to furnish information to the Minister;
(b)
request the Board to ensure that the Minister is given access to information;
and
(c) make
use of the staff of Gold Corporation or of any subsidiary to obtain
information and to furnish it to the Minister.
(10) Gold Corporation
shall comply with a request under subsection (9) and make staff and facilities
available to the Minister for the purposes of paragraph (c) of that
subsection.
(11) For the purposes
of this section —
document includes any data that is recorded or
stored mechanically, photographically, or electronically and any tape, disc or
other device or medium on which it is recorded or stored;
information means documents or other information
relating to the business of Gold Corporation or a subsidiary of Gold
Corporation being information, as so defined, specified, or of a description
specified, by the Minister; and
parliamentary purposes means the purpose of
—
(a)
answering a question asked in a House of Parliament; or
(b)
complying with a written law, or an order or resolution of a House of
Parliament, that requires information to be furnished to a House of
Parliament.
[Section 6 amended: No. 10 of 1990 s. 6 and 11;
No. 73 of 1994 s. 4; No. 77 of 2006 s. 17.]