41.— (1) IFI shall, in accordance with this section, prepare, adopt and, at the times specified in subsection (2), submit to the Minister for approval a 5 year rolling corporate plan for the 5 year period following the date of its submission.

(2) A corporate plan must be submitted at the following times—

(a) within 6 months after the establishment day,

(b) within 6 months after the appointment of a person as a Minister of the Government having charge of the Department of Communications, Energy and Natural Resources, if that person requests that a corporate plan be submitted, or

(c) at the end of the 5 year period since the last corporate plan was submitted.

(3) The corporate plan must be prepared, having regard to the functions of IFI, and in a form and manner in accordance with any directions issued by the Minister and must specify—

(a) the key objectives of IFI for the 5 year period concerned and the strategies for achieving those objectives,

(b) the manner in which IFI proposes to measure its achievement of those objectives, and

(c) the uses for which IFI proposes to apply its resources.

(4) In preparing the corporate plan, IFI shall have regard to the policies of the Government or a Minister of the Government to the extent that those policies may affect or relate to the functions of IFI.

(5) Within 3 months after receiving a corporate plan, the Minister shall—

(a) approve the plan, or

(b) if the plan is not amended in accordance with any directions that may be issued by the Minister to IFI, refuse to approve the plan.

(6) An approved corporate plan may be amended by the Minister at any time or may be amended by IFI, but in the latter case only after—

(a) IFI submits the proposed amendment to the Minister for approval, and

(b) the amendment is approved by the Minister.

(7) Subsections (5) and (6) apply with the necessary modifications in respect of an amendment by IFI to an approved corporate plan.

(8) Nothing in a corporate plan is to be taken to prevent IFI from, or to limit IFI in, performing its functions.