Section 50, Act, 2002 (Act No 12 0f 2002);

(1) The Company shall prepare a rolling medium-term planof five years or at such duration as the Board may determine which shall specify the objectives and the strategies to be adopted for their implementation together with a forecast of its effect on the key aspects of the performance of the Company. (2) The medium-term plan shall be elaborated into detailed operational annual plans supported by annual income and expenditure budgets. (3) An annual plan of activities prepared and finalised by the Managing-Director shall be submitted not later than 3 months before the beginning of the financial year of the Company for the approval of the Board.