In this Act, unless the context otherwise requires,

“annual performance contract” means a document agreed on by the Minister and a relevant sector Minister specifying key performance indicators and obligations of a State owned enterprise or other State entity.;

“Authority” means the State Interests and Governance Authority established under section 2;

“Board” means the governing body of the Authority established under section 5;

“Code of Corporate Governance” means the standards of good practice for corporate governance, issued by the Authority for compliance by specified entities;
“Director-General” means the person appointed under section 17;

“General Manager” means a person appointed under section 19;

“joint venture company” means an entity in which Government has majority or minority shares;

“Minister” means the Minister designated by the President to be responsible for the Authority;

“monitoring fee” means the fee payable under section 23;

“other State entity” means an entity

(a) other than a State-owned enterprise or joint venture company in which the State has an interest; and
(b) declared as a specified entity by the Minister in accordance with section 32;

“sector Minister” means the Minister responsible for the respective specified entity;

“specified entities” means a

(a) a State-owned enterprise;
(b) a joint venture company; or
(c) other State entities;

“State interests” means shares, assets, debentures, securities and other similar instruments owned by the State and provided for by law including ownership of other state entities; and

“State-owned enterprise” means an entity whether incorporated or not under the Companies Act, 1963 (Act 179) whose shares are wholly held or controlled by Government.