(1) A port authority must, for the first half of a financial year, give to the Minister a report on the operations of the port authority and of each subsidiary.

(2) A half-yearly report is to be prepared on a consolidated basis.

(3) A half-yearly report must be given to the Minister ¾

(a) within 2 months after the end of the reporting period; or

(b) if another period after the end of the reporting period is agreed between the board and the Minister, within the agreed period.

(4) The port authority must give a copy of each half-yearly report to the Treasurer.

(5) A half-yearly report must include the information required to be given in the report by a relevant statement of corporate intent under Division 2.