50. (1) The Agency shall, as soon as practicable after it is established, prepare and submit to the Minister for approval a code of governance that includes an outline of—

(a) the guiding principles applicable to the Agency as a public body having regard to its functions under section 8,

(b) the structure of the Agency, including the roles and responsibilities of the Board and chief executive officer,

(c) the processes and guidelines to be followed to ensure compliance with the reporting requirements imposed on the Agency by or under this Act,

(d) the Agency’s internal controls, including its procedures relating to internal audits, risk management, public procurement and financial reporting, and

(e) the nature and quality of service that persons being provided with or seeking services provided by the Agency in accordance with its functions can expect.

(2) The first code of governance shall include details of the methods to be used to bring about the integration of the governance systems deriving from a transfer of functions to the Agency from—

(a) the Health Service Executive, and

(b) the dissolved bodies.

(3) The Agency shall review the code of governance periodically and at such intervals as may be specified by the Minister and shall revise the code as the Agency considers appropriate.

(4) In preparing or making any revisions to the code of governance, the Agency shall have regard to the Performance Framework issued pursuant to section 41.

(5) Following the Minister’s approval of the code of governance or of any revisions to it, the Agency shall arrange for the publication of the code or revised code.

(6) The Agency shall indicate in its annual report its arrangements for implementing and maintaining adherence to the code of governance.