(1) This section applies to the Authority's first strategic and operational plans.
(2) The time within which the Authority's board must prepare and give a draft of each plan under section 47 is 1 month after the Authority's establishment or another time agreed between the board and the responsible Ministers.
(3) If a draft plan has not been agreed to within 1 month after giving it to the responsible Ministers, the responsible Ministers may give a direction under section 48(3) about the draft plan.
(4) The period for which the strategic or operational plan applies is—
(a) the remainder of the financial year in which it is agreed to by the responsible Ministers; and
(b) if the Authority and the responsible Ministers agree the plan is also to apply for the following financial year, for that financial year.