(b) give the corporate plan to the responsible Minister and the Finance Minister in accordance with any requirements prescribed by the rules. (2) The corporate plan must comply with, and be published in accordance with, any requirements prescribed by the rules. (3) If: (a) a statement of the Australian Government’s key priorities and objectives is published under section 34; and (b) the purposes of the Commonwealth company relate to priorities and objectives; then the corporate plan must set out how the activities of the company will contribute to achieving priorities and objectives. Subsidiaries If the Commonwealth company has subsidiaries, the corporate plan must cover both the company and its subsidiaries. In particular, for each subsidiary the corporate plan must include details of any matters prescribed by the rules, so far as they are applicable. Variation of corporate plan If the directors vary the plan, the directors must comply with any requirements relating to variations of corporate plans that are prescribed by the rules. Where there is non-compliance with the requirements of the PGPA Rule non-compliance is reportable against the relevant section of the Rule. Note that this provision of the PGPA Act does not apply for the 2014-15 reporting period as there are no additional requirements prescribed by the PGPA Rule. Section 96 Budget estimates for whollyowned Commonwealth companies (1) The directors of a whollyowned Commonwealth company must: (a) prepare budget estimates covering the company’s activities for each reporting period for the company, and for any other periods directed by the Finance Minister; and (b) give the budget estimates to the Finance Secretary in accordance with any directions under subsection (3). (2) The budget estimates must: Non-compliance is reportable against section 96 where the directors of a whollyowned Commonwealth company have not prepared budget estimates in accordance with section 96 or the written directions of the Finance Secretary. Company only
Finance Minister’s powers, functions or duties under this Act or the rules. (2) However, the Finance Minister may not delegate (except as provided in subsection (3)) any of the Finance Minister’s powers, functions or duties under: (a) paragraph 57(b) (which is about authorising borrowing by corporate Commonwealth entities); or (b) subsection 71(1) or (2) (which is about approving expenditure); or (c) subsection 72(1) is about notifying Parliament about certain events); or (d) section 75 (which is about transfers of functions between noncorporate Commonwealth entities); or (e) section 78 (which is about special accounts); or (f) section 85 (which is about the Commonwealth forming companies etc.); or (g) section 87 (which is about establishing new corporate Commonwealth entities); or (h) section 101 (which is about the rules); or (i) Part 41A (which is about some other instruments made under this Act). (3) The Finance Minister may, by written instrument, delegate to the Finance Secretary any of the Finance Minister’s powers, functions or duties under: (a) section 75 (which is about transfers of functions between noncorporate Commonwealth entities); or (b) section 85 (which is about the Commonwealth forming companies etc.); or (c) section 87 (which is about establishing new corporate Commonwealth entities). Directions by the Finance Minister about delegation (4) In exercising powers, performing functions or discharging duties under a delegation, the delegate must comply with any written direction given by the Finance Minister to the delegate. This section provides a discretionary power for the Finance Minister to delegate powers. Where an official does not follow the directions in the Delegation from the Finance Minister this is reportable against the relevant part of the Delegation.