Section 119: Where –

(a) in the opinion of the Minister, there is a risk that the actual financial outcomes of a public enterprise deviate significantly from the financial targets specified in the financial planning documents of the public enterprise; (b) a public enterprise or its vote controller contravenes any provision under this Act or regulations made thereunder; (c) a public enterprise fails to implement an action plan which has been submitted under paragraph (i) of this section; (d) a public enterprise has causes, or is likely to cause, a material deterioration in the financial condition; or (e) the vote controller of a public enterprise fails to submit, or submits with significant delay, its budget, financial planning documents, quarterly financial report, annual report, or any other information according to the timelines or other requirements of this Act, the Minister may, in consultation with the responsible authority, – (i) require the vote controller of the public enterprise to submit or resubmit an action plan to resolve underlying problems within a specific period of time; (ii) recommend the responsible authority to do whatever necessary to correct underlying problems, including removal of members of the vote controller, through shareholder resolution or exercise of powers available under any enactment; (iii) if the public enterprise is a body corporate established by a specific enactment, require prior approval of the Minister for any borrowing of the public enterprise and such other key financial decisions of the public enterprise as specified by the Minister; and (iv) reduce or suspend grants ortransfers from the State budget to the public enterprise. PART IX–LIABILITY AND OFFENCES