Commonwealth Consolidated Acts

EXPORT FINANCE AND INSURANCE CORPORATION ACT 1991 - SECT 49

    In determining or revising a financial target to be included in a corporate plan, the Board must have regard to:

  (a)   the need for EFIC to generate reserves sufficient to support expansion of its operations; and

  (b)   the adequacy of EFIC's capital, having regard to any determinations made by the Board for the purposes of section   56; and

  (c)   any direction by the Minister under subsection   55(2) for the payment of a dividend by EFIC in respect of the financial year to which the target relates; and

  (d)   any direction by the Minister under subsection   55A(2) for the payment of a dividend by EFIC in the financial year to which the target relates.

Note:   Section   35 of the Public Governance, Performance and Accountability Act 2013 requires the Board to prepare corporate plans.