(b) give the corporate plan to the responsible Minister and Where there is non-compliance with the requirements the Finance Minister in accordance with any of the PGPA Rule non-compliance is reportable requirements prescribed by the rules. against the relevant section of the Rule. (2) The corporate plan must comply with, and be published in Note that this provision of the PGPA Act does not accordance with, any requirements prescribed by the rules. apply for the 2014-15 reporting period as there are no (3) If: additional requirements prescribed by the PGPA Rule. (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. Section 96 Budget estimates for (1) The directors of a whollyowned Commonwealth company Non-compliance is reportable against section 96 Company only whollyowned must: where the directors of a whollyowned Commonwealth companies Commonwealth company have not prepared budget (a) prepare budget estimates covering the company’s estimates in accordance with section 96 or the written activities for each reporting period for the company, and directions of the Finance Secretary. 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:
(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
the-pgpa-act-and-pgpa-rule-compliance-summary.docx