Land Information Authority Act 2006

The Authority’s board of management must notify the Minister if it forms the opinion that the Authority is unable to, or will be unlikely to be able to, satisfy any of its financial obligations from the financial resources available or likely to be available to it at the time the financial obligation is due.

The notice is to be in writing, giving reasons for the board’s opinion.

Within 7 days of receipt of the notice, the Minister must —

confer with the Treasurer and the Authority for the purpose of determining what action is required to ensure that the Authority is able to satisfy the relevant financial obligation when it is due; and

initiate such action as is required to ensure that the Authority is able to satisfy the relevant financial obligation when it is due.

For the purposes of subsection (3) the Minister may, with the Treasurer’s concurrence, give the Authority a direction under section 65 requiring the Authority to cease or limit the performance of any function.