South Australian Consolidated Acts

MOTOR ACCIDENT COMMISSION ACT 1992 - SECT 29

29—Annual report

        (1)         The board must, on or before 30 September in each year, deliver to the Minister a report on the operations of the Commission during the preceding financial year.

        (2)         The report must—

            (a)         incorporate the audited accounts and financial statements for the financial year; and

            (b)         incorporate the Commission's charter as for the time being in force and set out any amendments to the charter made during the financial year; and

            (c)         set out any directions given to the board by the Minister that are not contained in the Commission's charter; and

            (d)         set out details of any approval given by the Treasurer during the financial year in respect of any borrowing by the Commission or any security given by the Commission for the repayment of a loan; and

            (e)         set out details of any approval given by the Minister during the financial year in respect of a contract, arrangement or understanding in restraint of trade or commerce or any other transaction referred to in section 24; and

            (f)         set out the current formula determined by the Treasurer for calculating the sufficient level of solvency for the purposes of the Compulsory Third Party Fund.

        (3)         The Minister must cause a copy of the report to be laid before both Houses of Parliament within 12 sitting days after his or her receipt of the report.