Document ID: chunk:federal_register_of_legislation:C2004A04945:front:0:p12
Version: federal_register_of_legislation:C2004A04945
Segment Type: other
Provision Reference: 
Character Range: 28196–31043

notice in writing to the Corporation, advise the Corporation of his or her views in relation to the following matters:

  (a) the appropriate strategic direction of the Corporation;

  (b) the manner in which the Corporation should perform its functions.

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

"(3) The Board must, in preparing each Corporate plan, take account of notices given to the Corporation under subsection (1).

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

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

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

Minister may direct Corporation to give documents and information to nominee

"42B.(1) In this section:

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

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

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

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

SCHEDULE 1—continued

3. After section 46:

  Insert:

Interim dividends

  "46A.(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 46 for the financial year.

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

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

  (a) the matters specified in paragraphs 39(1)(a), (c), (d), (e) and (f); and

  (b) the extent of the Commonwealth's equity in the Corporation; and

  (c) such other commercial considerations as the Board considers fit.

"(4) The Minister must, within 45 days after receiving a recommendation, by written notice to the Board, either:

  (a) approve the recommendation; or

  (b) give directions to the Board in relation to the payment of an interim dividend.

"(5) The Minister must, in giving a notice under subsection (4), have regard to:

  (a) the matters specified in paragraphs 39(1)(a), (c), (d), (e), (ea) and (f); and

  (b) the extent of the Commonwealth's equity