Document ID: chunk:federal_register_of_legislation:C2004A04945:front:0:p8
Version: federal_register_of_legislation:C2004A04945
Segment Type: other
Provision Reference: 
Character Range: 17729–20686

the manner in which the Commission should perform its functions.

"(2) The Commission must, in performing its functions, take account of notices given to it under subsection (1).

"(3) The Commission must, in developing objectives, strategies and policies under subsection 22(1), take account of notices given to it under subsection (1) of this section.

"(4) The Commission must include in the annual report for a financial year:

  (a) a summary of notices given to the Commission, in that financial year, under subsection (1); and

    (b) a summary of action taken by the Commission, in that financial year, because of notices given to the Commission under subsection (1) in that or any other financial year

    SCHEDULE 1—continued

Minister may direct Commission to give documents and information to nominee

"20B.(1) In this section:

'ministerial nominee' means a person whose responsibilities or duties include advising the Minister about the performance and strategies of the Commission.

"(2) The Minister may direct the Commission to give to a specified ministerial nominee any documents or information relating to the operations of the Commission that the nominee requests.

"(3) The Commission must comply with a direction by the Minister under subsection (2).

"(4) The Commission must include in the annual report for a financial year particulars of any directions given to the Commission by the Minister under subsection (2) in that financial year.".

2. After subsection 32(3):

Insert:

"(3A) If:

    (a) the Minister is of the opinion that the Commission has failed to comply with section 20B of this Act; and

    (b) the Minister proposes that the appointment of all or specified Commissioners be terminated;

the Governor-General is to terminate the appointment of all Commissioners, or the specified Commissioners, as the case may be.".

3. Subsection 36A(1):

Omit the subsection, substitute:

"(1) The Managing Director is to be appointed by the Commission.".

4. Subsection 36A(2):

Omit "The Minister shall", substitute "The Commission must".

5. Subsection 36F(1):

Omit "The Minister", substitute "The Commission".

6. Before subparagraph 55(1)(a)(i):

Insert:

  "(ia) a specified rate of return on the Commission's assets; or".

7. Subparagraph 55(1)(a)(i):

 Add at the end:

 "or".

SCHEDULE 1—continued

8. After section 57:

  Insert:

Interim dividends

"57A.(1) In this section:

'interim dividend', in relation to a financial year, means an amount paid on account of the dividend that may become payable under section 57 for the financial year.

"(2) The Commission must, before 1 March in each financial year, by notice in writing given to the Minister, recommend that the Commission pay a specified interim dividend, or not pay any interim dividend, to the Commonwealth for the financial year.

"(3) In making a recommendation, the Commission must have regard to:

   (a) the need to ensure that the Commonwealth