9.1 The Board’s Strategic Directions 2016-2020 May 2016
Tabled paper 1883
Tabled Papers for 12th Assembly 2012 - 2016; Tabled Papers; ParliamentNT
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.
The Power and Water Corporation (Power and Water) is a Government Owned Corporation under the Government Owned Corporations Act 2001 (NT) ('GOC Act'). The objective (section 2) of the GOC Act is to provide a basis: "(a) for improved performance by Government owned businesses; and (b) for greater sustainable financial returns to the Territory on its investment in those businesses, by providing a framework of greater autonomy combined with appropriate accountability of government businesses." The accountabilities of directors' section (section 15) of the GOC Act states that: "(I) The board of a Government owned corporation is responsible for the operation of the corporation. (2) The board of a Government owned corporation /s accountable to the Government owned corporation's shareholding Minister for the financial performance of the corporation. (3) If the board of a Government owned corporation forms the opinion that matters have arisen: (a) that may prevent, or significantly affect, achievement of the objectives of the Government owned corporation and its subsidiaries in the corporation's statement of corporate intent; or (b) that may prevent, or significantly affect, achievement of the targets in the corporation's statement of corporate intent, the board must immediately notify the Government owned corporation's shareholding Minister of its opinion and the reasons for the opinion.