2013 AnnuAl RepoRt - Australian Grand Prix

2. General Informationa. IntroductionThe Australian Grand Prix Corporation is a statutory authority established pursuant to theAustralian Grands Prix Act 1994 (Vic) (as amended) (“AGP Act”).The Corporation is subject to the direction and control of the Minister administering theAGP Act, the Minister for Tourism and Major Events, The Honourable Louise Asher, MP.b. Mission StatementOur mission is to provide Melbourne and Victoria with world class internationalmotorsport events that deliver increased promotional and economic benefits to theState of Victoria.c. Vision StatementTo stage the best international events.d. Functions and Strategic PrioritiesFunctionsThe functions of the Corporation are:• To negotiate, enter into and vary agreements under which Formula One events areheld;• To undertake and facilitate the organisation, conduct, management and promotionof Formula One events and Motorcycle Grand Prix events;• To establish at Albert Park a temporary motor racing circuit and supporting facilitiesfor Formula One events;• To do all other things necessary for or in connection with the conduct and financialand commercial management of each Formula One event by the Corporation;• With the consent of the Minister, to negotiate and enter into an agreement for theholding of, and to undertake the organisation, conduct, management andpromotion of, a motor sport event approved by the Minister; and• Such other functions as are conferred on the Corporation under the AGP Act or anyother Act.Australian Grand Prix Corporation Annual Report 2013 Australian Grand Prix Corporation Annual Report 2013 7 7