(1) The board of directors must prepare, in consultation with the Secretary, a statement of priorities for the Institute for each financial year in accordance with subsection (4). (2) The board of directors must give a copy of the proposed statement of priorities to the Minister on or before 1 October in each year for approval. (3) If the board of directors and the Minister do not agree on a statement of priorities on or before 1 October, the Minister may make a statement of priorities for the relevant financial year in accordance with subsection (4). (4) A proposed statement of priorities must specify— (a) the services to be provided by the Institute and the funds to be provided to the Institute; and (b) the objectives, priorities and key performance outcomes to be met by the Institute; and (c) the performance indicators, targets or other measures against which the Institute's performance is to be assessed and monitored; and (d) how and when the Institute must report to the Minister and the Secretary on its performance in relation to the specified objectives, priorities and key performance outcomes; and (e) such other matters as, from time to time, are— (i) agreed by the Minister and the board of directors; or (ii) determined by the Minister.
(1) The board of directors must prepare, in consultation with the Secretary, a statement of priorities for the Institute for each financial year in accordance with subsection (4). (2) The board of directors must give a copy of the proposed statement of priorities to the Minister on or before 1 October in each year for approval. (3) If the board of directors and the Minister do not agree on a statement of priorities on or before 1 October, the Minister may make a statement of priorities for the relevant financial year in accordance with subsection (4). (4) A proposed statement of priorities must specify— (a) the services to be provided by the Institute and the funds to be provided to the Institute; and (b) the objectives, priorities and key performance outcomes to be met by the Institute; and (c) the performance indicators, targets or other measures against which the Institute's performance is to be assessed and monitored; and (d) how and when the Institute must report to the Minister and the Secretary on its performance in relation to the specified objectives, priorities and key performance outcomes; and (e) such other matters as, from time to time, are— (i) agreed by the Minister and the board of directors; or (ii) determined by the Minister.
14-26a002.docx