(1)     A council must develop and adopt plans (which may take various forms) for the management of its area, to be called collectively the strategic management plans, which—

(a)     identify the council's objectives for the area over a period of at least 4 years (the relevant period), and provide a clear indication of—

(i)     the extent to which the council has participated with other councils, and with State and national governments, in setting public policy objectives, and the extent to which the council's objectives are related to regional, State and national objectives; and

(ii)     the extent to which the council has given consideration to regional, State and national objectives and strategies which are relevant to the economic, social, physical and environmental development and management of its area; and

(iii)    the extent to which the council intends to co-ordinate with State and national governments in the planning and delivery of services in which there is a common interest; and

(ab)    provide assessments that relate to the following matters (with particular reference to the relevant period):

(i)     the sustainability of the council's financial performance and position; and

(ii)     the extent or levels of services that will be required to be provided by the council to achieve its objectives; and

(iii)    the extent to which any infrastructure will need to be maintained, replaced or developed by the council; and

(iv)    anticipated changes in its area with respect to—

(A)    real property development; and

(B)    demographic characteristics of its community to the extent that is reasonable taking into account the availability of appropriate and accurate data; and

(v)     the council's proposals with respect to debt levels; and

(vi)    any anticipated or predicted changes in any factors that make a significant contribution to the costs of the council's activities or operations; and

(b)     identify the principal activities that the council intends to undertake to achieve its objectives; and

(d)     state the measures (financial and non-financial) that are to be used to monitor and assess the performance of the council against its objectives over the relevant period; and

(e)     identify the means by which its activities are to be carried out and its objectives achieved; and

(g)     address issues associated with arranging its affairs so as to separate its regulatory activities from its other activities, so far as this is reasonable to do so; and

(h)     make provision for the regular review of the charters, activities and plans of any subsidiary of the council.

(1a)    A council must, in conjunction with the plans required under subsection (1), develop and adopt—

(a)     a long-term financial plan for a period of at least 10 years; and

(b)     an infrastructure and asset management plan, relating to the management and development of infrastructure and major assets by the council for a period of at least 10 years,

(and these plans will also be taken to form part of the council's strategic management plans).

(2)     Strategic management plans—

(a)     should—

(i)     address the strategic planning issues within the area of the council, with particular reference to (and in a manner consistent with) the Planning Strategy; and

(ii)     set out the council's priorities for the implementation of planning policies,

(although these matters may be satisfied by referring to the council's most recent Strategic Directions Report under section 30 of the Development Act 1993); and

(b)     should (as far as practicable) be consistent with the Development Plan or Plans for the council's area, other than where the council proposes to amend the Plan or Plans in accordance with the procedures set out in the Development Act 1993 and the council obtains an agreement with the Minister to whom the administration of the Development Act 1993 is committed relating to the implementation of a program to undertake any relevant amendment or amendments; and

(c)     should (as far as practicable) be consistent with any relevant statutory policy or plan (not referred to above).

(3)     In addition to the requirements of subsection (2), a council must, in formulating its strategic management plans, have regard to—

(a)     the council's roles and responsibilities under this or any other Act; and

(b)     the council's objectives for its area.

(4)     A council may review its strategic management plans under this section at any time but must—

(a)     undertake a review of—

(i)     its long-term financial plan; and

(ii)     any other elements of its strategic management plans prescribed by the regulations for the purposes of this paragraph,

as soon as practicable after adopting the council's annual business plan for a particular financial year; and

(b)     in any event, undertake a comprehensive review of its strategic management plans within 2 years after each general election of the council.

(4a)    A council must, for the purposes of a review under subsection (4), take into account—

(a)     in relation to a review under subsection (4)(a)(i)—a report from the chief executive officer on the sustainability of the council's long-term financial performance and position taking into account the provisions of the council's annual business plan and strategic management plans; and

(b)     insofar as may be relevant—any other material prescribed by the regulations.

(5)     A council may amend its strategic management plans or adopt new plans.

(6)     A council must adopt a process or processes to ensure that members of the public are given a reasonable opportunity to be involved in the development and review of its strategic management plans.

(7)     A council must ensure that copies of its strategic management plans under this section are available for inspection (without charge) and purchase (on payment of a fee fixed by the council) by the public at the principal office of the council.

(8)     A council must, for the purposes of this section, specifically declare which plans will constitute the strategic management plans of the council.