Document ID: chunk:federal_register_of_legislation:C2004A03957:body:0:p11
Version: federal_register_of_legislation:C2004A03957
Segment Type: other
Provision Reference: 
Character Range: 25984–28763

profitability during the financial year; and

     (c) assessments of the financial performance of each Federal airport during the financial year.

"(3) Before giving financial statements to the Minister, the Corporation must submit them to the Auditor-General, who is to report to the Minister:

     (a) whether, in the Auditor-General's opinion, the statements are based on proper accounts and records; and

     (b) whether the statements are in agreement with the accounts and records and, in the Auditor-General's opinion, show fairly the financial transactions and the state of the affairs of the Corporation; and

     (c) whether, in the Auditor-General's opinion, the receipt, expenditure and investment of money, and the acquisition and disposal of assets by the Corporation, during the financial year concerned have been in accordance with this Act; and

     (d) as to such other matters arising out of the statements as the Auditor-General considers should be reported to the Minister.

"(4) The Minister must cause the annual report and financial statements, together with the report of the Auditor-General, to be laid before each House of the Parliament within 15 sitting days of that House after their receipt by the Minister.".

Delegation by Chief Executive Officer

37. (1) Section 67 of the Principal Act is amended by omitting subsection (1) and substituting the following subsection:

"(1) The Chief Executive Officer may, in writing, delegate all or any of the Corporation's powers under this Act to:

     (a) a member; or

     (b) an employee; or

(c) a person in respect of whose services arrangements under paragraph 61 (3) (a) are in force.".

(2) A delegation by the Corporation under section 67 of the Principal Act (other than a delegation to the Chief Executive Officer) that was in force immediately before the commencement of this section continues in force after that commencement as if it were a delegation made by the Chief Executive Officer under section 67 of the Principal Act as amended by this section.

38. After section 67 of the Principal Act the following section is inserted:

Delegation by Board

"67a. (1) The Board may, by resolution, delegate all or any of its powers to:

(a) a member; or

(b) an employee; or

(c) a person in respect of whose services arrangements under paragraph 61 (3) (a) are in force.

"(2) The delegate is, in the exercise of a delegated power, subject to the directions of the Board.

"(3) A delegation of a power under subsection (1):

    (a) may be revoked by resolution of the Board (whether or not constituted by the persons who constituted the Board when the power was delegated); and

(b) continues in force in spite of a change in the membership of the Board.

"(4) A certificate signed by the