139C Responsible Minister may grant extension of time for requirement to provide statement of intent: COVID-19

(1)

If a Crown entity is due to provide a statement of intent for a period beginning on 1 July 2020, the responsible Minister may grant the Crown entity an extension, of up to 3 months, of the period specified in section 139(3).

(2)

However, the responsible Minister must not grant an extension unless the responsible Minister is satisfied that, as a consequence of the effects of COVID-19,—

(a)

the Crown entity is unable to, or will experience significant difficulties if required to, provide the information on or before 1 July 2020; or

(b)

the Crown entity is unable to adequately assess how its future operations will be affected and the extension will enable it to provide a better statement of intent than it would be able to if the extension were not granted.

(3)

If the responsible Minister grants an extension under this section,—

(a)

the time for providing a draft statement of intent to the responsible Minister under section 146(2)(a)(i) is extended by the same period; and

(b)

the entity must (despite section 146(2)(c)(i)) provide the final statement of intent to its responsible Minister as soon as practicable after receiving the responsible Minister’s comments (if any) but before the end of the period of the extension; and

(c)

the statement of intent must, if provided after 1 July 2020, relate to the then current financial year and at least the following 3 financial years (despite section 139(2)); and

(d)

the responsible Minister must, as soon as practicable after granting the extension, notify the Crown entity of the extension and the Minister’s reasons for granting it; and

(e)

the Crown entity must, as soon as practicable after receiving notice under paragraph (d), publish notice of the extension, and the Minister’s reasons for granting it, on an Internet site maintained by or on behalf of the Crown entity; and

(f)

the Crown entity must include, in the next annual report that it provides to its responsible Minister for presentation to the House of Representatives under section 150, a statement of the extension and the Minister’s reasons for granting it.

(4)

This section is repealed on 1 October 2020.

Section 139C: inserted, on 30 April 2020, by section 39 of the COVID-19 Response (Taxation and Other Regulatory Urgent Measures) Act 2020 (2020 No 10).