Common use of Changes to the Guidelines Clause in Contracts

Changes to the Guidelines. The Commonwealth may vary the Guidelines and/or impose new Guidelines from time to time. The Commonwealth must provide reasonable notice of any variations to the Guidelines, or new Guidelines to SRAL, and give SRAL a reasonable period to implement the effects of the variation or new Guidelines. ANNUAL REPORTS By 31 October of each year, SRAL must prepare and publish on its public website an Annual Report for the preceding financial year, that complies with the Act and financial reporting and other reporting requirements in Chapter 2M of the Corporations Act and includes: sources of income allowing for separate identification of Levy Funds, Matching Payments and Voluntary Contributions; significant R&D Activities and transactions undertaken in the year in the conduct of SRAL’s functions as the industry services body; the full cost of the R&D Activities; progress made in implementing the Strategic Plan and Performance Principles including progress against any key performance indicators; key RD&E deliverables and associated outcomes achieved; an assessment of the efficiency and effectiveness of SRAL’s investments; material changes to SRAL’s membership; how SRAL responded to any directions made under the Act or Rural Research and Development Priorities given by the Minister under the Agreement or the Guidelines; consultation with ▇▇▇▇ ▇▇▇▇▇▇ and Industry Representative Organisations on: SRAL’s Strategic Plan; and RD&E; SRAL’s contributions to relevant sugar industry sectoral and cross-sectoral strategies, including the strategies under the National Primary Industries Research Development and Extension Framework; details of senior executive and Board remuneration in the format required by the relevant Australian Accounting Standards; Research and Development agreements entered into by SRAL with third parties; corporate governance practices in place during the Financial Year; the rationale for the mix of projects included in the Balanced Portfolio; and other matters notified to SRAL by the Commonwealth. STRATEGIC PLAN The parties acknowledge that, as at the date of this Agreement, SRAL has, and will maintain, an approved Strategic Plan that has regard to the Performance Principles and Guidelines. SRAL may satisfy the requirement to have an approved Strategic Plan in place at the date of this Agreement if the following conditions are met: SRAL has an existing strategic plan at the date of this agreement that has been approved by the Commonwealth; and SRAL provides a transition statement in relation to the existing strategic plan that has regard to the Performance Principles and Guidelines. SRAL must implement and maintain a Strategic Plan for its portfolio and must: consult with the stakeholders, including the Commonwealth, during the term of this Agreement to ensure that its Strategic Plan has regard to the Principles and Guidelines; and publish the Strategic Plan (and any updates) on its public website. The Strategic Plan may include R&D Activities for Australian sugar products to address market access and international trade activities.

Changes to the Guidelines. The Commonwealth may vary the Guidelines and/or impose new Guidelines from time to time. The Commonwealth must provide reasonable notice of any variations to the Guidelines, or new Guidelines to SRALFWPA, and give SRAL FWPA a reasonable period to implement the effects of the variation or new Guidelines. ANNUAL REPORTS By 31 October of each year, SRAL FWPA must prepare and publish on its public website an Annual Report for the preceding financial year, that complies with the Act and financial reporting and other reporting requirements in Chapter 2M of the Corporations Act and includes: sources of income allowing for separate identification of Levy Funds, Matching Payments and Voluntary Contributions; significant R&D Activities and transactions undertaken in the year in the conduct of SRALFWPA’s functions as the industry services body; the full cost of the R&D Activities and Marketing Activities; progress made in implementing the Strategic Plan and Performance Principles including progress against any key performance indicators; key RD&E and marketing deliverables and associated outcomes achieved; an assessment of the efficiency and effectiveness of SRALFWPA’s investments; material changes to SRALFWPA’s membership; how SRAL FWPA responded to any directions made under the Act or Rural Research and Development Priorities given by the Minister under the Agreement or the Guidelines; consultation with ▇▇▇▇ ▇▇▇▇▇▇ and Industry Representative Organisations on: SRALFWPA’s Strategic Plan; and RD&ERD&E and Marketing Activities; SRALFWPA’s contributions to relevant sugar industry forestry Industry sectoral and cross-sectoral strategies, including the strategies under the National Primary Industries Research Development and Extension RD&E Framework; details of senior executive and Board remuneration in the format required by the relevant Australian Accounting Standards; Research and Development and marketing agreements entered into by SRAL FWPA with third parties; corporate governance practices in place during the Financial Year; the rationale for the mix of projects included in the Balanced Portfolio; and other matters notified to SRAL FWPA by the Commonwealth. STRATEGIC PLAN The parties Parties acknowledge that, as at the date of this Agreement, SRAL FWPA has, and will maintain, an approved Strategic Plan that has regard to the Performance Principles and Guidelines. SRAL may satisfy the requirement to have an approved Strategic Plan in place at the date of this Agreement if the following conditions are met: SRAL has an existing strategic plan at the date of this agreement that has been approved by the Commonwealth; and SRAL provides a transition statement in relation to the existing strategic plan that has regard to the Performance Principles and Guidelines. SRAL FWPA must implement and maintain a Strategic Plan for its portfolio and must: consult with the stakeholders, including the Commonwealth, during the term of this Agreement to ensure that its Strategic Plan has regard to the Principles and Guidelines; and publish the Strategic Plan (and any updates) on its public website. The Strategic Plan may include R&D Activities for Australian sugar forestry products to address market access and international trade activities.