Territory Stories

TIO MAC Report Statement of Corporate Intent 1 July 2008-30 June 2009



TIO MAC Report Statement of Corporate Intent 1 July 2008-30 June 2009

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Tabled paper 541


Tabled papers for 11th Assembly 2008 - 2012; Tabled papers; ParliamentNT




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Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.




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INTRODUCTION The Territory Insurance Office (TIO) is a statutory entity established under the Territory Insurance Office Act 1979. The TIO Board is responsible to the shareholding Minister for TIO's operations and financial performance. Each year TIO sets out in a Statement of Corporate Intent (SCI): strategic objectives, scope of business, risk management strategies and financial performance targets over a three year period. Following each financial year TIO provides a report to the Minister reviewing the past years performance and achievements. In accordance with section 8C of the Territory Insurance Office Act TIO is required to provide a SCI report: (1) The Office must, within 3 months after the end of each financial year or by a later time approved by the Minister, give the Minister a report for each statement of corporate intent for that year. (2) The report must: (a.) Specify the Office's performance by reference to the statement; and (b.) Identify any significant departures from the statement; and (c.) Specify the reasons for the departures. (3) The Minister must table in the Legislative Assembly a copy of the report within 6 sitting days after receiving it. (4) Before tabling a copy of the report, the Minister: (a.) Must ask the Board to consider whether it contains any commercially sensitive information; and (b.) May delete from it any such information (whether as a result of the Board's advice or not).

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