36. (1) An tÚdarás shall, following engagement with a relevant body, enter into a performance agreement with the relevant body for a period of not more than 5 years.

(2) An tÚdarás may, following engagement with a designated institution of higher education that is not a relevant body, enter into a performance agreement with the institution for a period of not more than 5 years.

(3) A performance agreement referred to in subsection (1) or (2) shall be in accordance with the performance framework then in place under section 35 and shall take account of the strategic development plan (if any) of the relevant body or the designated institution of higher education that is not a relevant body, as the case may be, concerned.

(4) A performance agreement with a relevant body under subsection (1), or a designated institution of higher education that is not a relevant body under subsection (2), shall include—

(a) the performance objectives, and

(b) the implementation, monitoring, assessment and reporting processes,

for the relevant body or the designated institution of higher education that is not a relevant body, as the case may be, concerned.

(5) An tÚdarás shall, in consultation with a relevant body or a designated institution of higher education that is not a relevant body, review annually the performance agreement with that body under subsection (1) or institution under subsection (2), as the case may be, and agree any amendments of the performance agreement arising from that review with that body or institution, as the case may be.

(6) A relevant body or a designated institution of higher education that is not a relevant body shall report to An tÚdarás on a regular basis in accordance with the monitoring, assessment and reporting processes specified in the performance agreement concerned or, as may be appropriate, the performance agreement as amended under subsection (5).

(7) In this section a “relevant body” means a designated institution of higher education referred to in any of subparagraphs (i) to (v) of section 53(1)(a).