Western Australian Consolidated Acts

WESTERN AUSTRALIAN LAND AUTHORITY ACT 1992 - SECT 19

19 .         Authority to act on commercial principles

        (1)         The Authority is to —

            (a)         perform its functions in a cost-efficient manner; and

            (b)         endeavour to achieve or surpass the long term financial targets specified in its strategic development plan as existing from time to time; and

            (c)         ensure that no individual project undertaken by the Authority has an expected internal rate of return that is less than the minimum rate of return specified in its strategic development plan as existing from time to time.

        (2)         If there is any conflict or inconsistency between —

            (a)         the duty imposed by subsection (1) and a direction given by the Minister under section 24; or

            (b)         the duty imposed by subsection (1) and the duty imposed by section 16A,

                the direction given under section 24, or the duty imposed by section 16A, prevails.

        [Section 19 inserted by No. 60 of 1998 s. 12.]