Rail Company Act 2009

In this section – relevant financial year, in relation to a statement of corporate intent of the Company, means the financial year during which the statement is to be in force in respect of the Company.

Before the commencement of each financial year, the Board is to prepare a statement of corporate intent, in respect of the Company and its subsidiaries, that is to be in force for that financial year.

A statement of corporate intent of the Company must not disclose any information that the Board considers – may, if disclosed – disadvantage or cause damage to the Company or its subsidiaries, either directly or indirectly; or enable another person, either directly or indirectly, to gain an advantage; or may otherwise be unlawful, or inappropriate, to disclose publicly.

A draft of a statement of corporate intent prepared under this section in respect of the Company is to – relate to the Company and its subsidiaries; and be consistent with each of the following:the statement of expectations in respect of the Company and its subsidiaries that is in force under section 20; each direction under section 20A that is in effect in respect of the Company and its subsidiaries; the Treasurer’s Instructions that are in force in respect of the Company and its subsidiaries; and be in a form, and contain the information, specified in the Treasurer's Instructions; and be provided to the members before – 31 March in the financial year immediately preceding the relevant financial year; or such later day, being a day before the commencement of the relevant financial year, as approved by the members.

After receiving a draft statement of corporate intent under subsection (4)(d), the members may – request that the Board make changes to the draft statement of corporate intent before it is approved under this section; or approve the draft statement of corporate intent if satisfied that – the statement complies with this section; and the statement does not disclose information in contravention of subsection (3).

A statement of corporate intent approved under this section in respect of the Company – takes effect on the day on which it is approved by the members under subsection (5)(b); and while it remains in force, is to be published on a website operated by, or on behalf of, the Company, so that it is freely available to members of the public.

The Board may amend, or substitute, the statement of corporate intent for the Company at any time.

An amendment to a statement of corporate intent, or a substitute statement of corporate intent, for the Company takes effect – on the day on which it is approved by the members; or on such later day as is specified in the amended or substituted statement of corporate intent.