(1) As soon as practicable after the establishment day, and thereafter within 6 months before each fifth anniversary of the establishment day, the Board shall prepare and submit to the Minister, for approval with or without amendment by the Minister, a strategic plan for the ensuing 5 year period.

(2) A strategic plan shall -

(a) comprise the key objectives, outputs and related strategies, including the use of resources, of the Board,

(b) be prepared in a form and manner in accordance with any directions issued from time to time by the Minister, and

(c) have regard to the need to ensure the most beneficial, effective and efficient use of the resources of the Board.

(3) The Minister shall, as soon as practicable after the strategic plan has been approved, cause a copy of the strategic plan to be laid before each House of the Oireachtas.