Public Governance, Performance and Accountability (Consequential and Transitional Provisions) Act 2014 (62 of 2014)

Schedule 7   Amendments of Acts starting with A

Australia Council Act 2013

156   Section 45

Repeal the section, substitute:

45 Corporate Plan

(1) A corporate plan prepared by the Board under section 35 of the Public Governance, Performance and Accountability Act 2013 must include details of the following:

(a) the investment and financing programs of the Council, including strategies for managing financial risk;

(b) the financial targets and projections for the Council;

(c) an analysis of factors likely to affect achievement of targets or create significant financial risk for the Council or for the Commonwealth;

(d) a review of the Council’s performance since the start of the year previous to the year in which the plan is prepared, measured against the most recent plan for any part of that period;

(e) such other matters (if any) as the Minister directs.

(2) The Board must give a copy of the plan to the Minister, before the start of the period covered by the plan, for the Minister’s approval.

(3) If the Board varies the plan, the Board must give a copy of the variation to the Minister for the Minister’s approval.

(4) The plan, or a variation of the plan, does not take effect unless the Minister approves it.