Document ID: chunk:federal_register_of_legislation:C2004A00638:clause:1_20a
Version: federal_register_of_legislation:C2004A00638
Segment Type: clause
Provision Reference: sch 1 cl 20A
Character Range: 12576–13866

20A  Winding‑up plan

 (1) The Corporation must:
 (a) prepare a plan setting out the manner in which the Corporation proposes to perform the functions conferred on it by paragraphs 8(1)(a), (b), (c) and (d); and
 (b) give a copy of the plan to the Minister.

 (2) The Corporation must do this as soon as practicable, and in any event within 90 days, after the commencement of this section.

Note: Paragraphs 8(1)(a), (b), (c) and (d) deal with the winding‑up of the Corporation and the joint Commonwealth/State scheme.

 (3) The plan is to be known as the winding‑up plan.

 (4) The winding‑up plan is to be expressed to relate to the period mentioned in paragraph 8(1)(a).

Note: The period mentioned in paragraph 8(1)(a) is the period over which the Corporation is to prepare itself for abolition by a future Act.

 (5) The Corporation must keep the Minister informed about matters that arise that might significantly affect the carrying out of the winding‑up plan.

 (6) The Corporation may vary the winding‑up plan.

 (7) If the Corporation varies the winding‑up plan, the Corporation must give a copy of the variation to the Minister.

 (8) The Minister may direct the Corporation to vary the winding‑up plan.

 (9) The Corporation must comply with a direction under subsection (8).