Australian Capital Territory Current Acts

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FINANCIAL MANAGEMENT ACT 1996 - SECT 110

Assistance given by authorities for div 9.6

    (1)     A division 9.6 authority may, on the authority's own initiative, give the Territory assistance in relation to the transfer of the authority's assets.

Examples of forms of assistance

1     giving information

2     giving financial assistance

3     giving a financial benefit to an entity

4     giving facilities, information and other assistance in relation to the conduct of a due diligence procedure or market briefing

5     entering into an agreement with the Territory

    (2)     A division 9.6 authority must, if asked in writing by the responsible Minister for the authority, assist the Territory in relation to the transfer of the authority's assets.

    (3)     If a division 9.6 authority must give assistance under subsection (2), the assistance must be given within the period, and in the way, stated in the request.

    (4)     To remove any doubt, a division 9.6 authority that gives assistance under this section does not incur civil liability only because of the giving of assistance.

    (5)     Any liability that would, apart from this section, attach to the division 9.6 authority attaches instead to the Territory.



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