Land Information Authority Act 2006

The Authority’s board of management, as soon as is practicable after the end of each financial year, is to make a recommendation to the Minister as to —

whether the Authority should pay to the Consolidated Account a final dividend for that year; and

if so, the amount that should be paid.

The Minister, with the Treasurer’s concurrence —

may accept a recommendation under subsection (1); or

after consultation with the Authority’s board of management, is to direct the Authority to pay a final dividend of an amount fixed in the direction.

The Authority is to pay the dividend —

as soon as practicable after the Minister fixes an amount under subsection (2); and

in any case not later than —

6 months after the end of the financial year for which the final dividend is to be paid; or

such other time as the Treasurer and the Authority’s board of management may agree.

If the Authority’s board of management considers that payment to the Consolidated Account of an interim dividend for a financial year is justified, the board may make a recommendation to the Minister as to the amount of the interim dividend that should be paid.

The Minister, with the Treasurer’s concurrence —

may accept a recommendation under subsection (4); or

after consultation with the Authority’s board of management, is to direct the Authority to pay an interim dividend of an amount fixed in the direction.

The Authority is to pay the dividend —

as soon as practicable after the Minister fixes an amount under subsection (5); and

in any case not later than the end of the financial year for which the interim dividend is to be paid.

The Minister must, within 14 days after a direction is given under subsection (2) or (5), cause the text of it to be laid before each House of Parliament or dealt with under section 91.