New South Wales Consolidated Acts

GOVERNMENT SECTOR FINANCE ACT 2018

- As at 21 March 2024 
- Act 55 of 2018 

TABLE OF PROVISIONS

           Long Title

   PART 1 - PRELIMINARY

           Division 1.1 - Introduction

   1.1.    Name of Act
   1.2.    Commencement
   1.3.    Objects of Act

           Division 1.2 - Interpretation generally

   1.4.    General definitions
   1.5.    Notes

           Division 1.3 - Application of Act

   1.6.    Act binds Crown
   1.7.    Extraterritorial operation of Act

           Division 1.4 - Relationship of Act with other laws

   1.8.    Relationship with other legislation generally
   1.9.    Exclusion or displacement of Corporations legislation

   PART 2 - KEY CONCEPTS

           Division 2.1 - Entities generally

   2.1.    Entities
   2.2.    Controlled entities
   2.3.    NSW Health entities

           Division 2.2 - GSF agencies and related concepts

   2.4.    GSF agencies
   2.5.    Separate GSF agency
   2.6.    Responsible Minister for GSF agencies
   2.7.    Accountable authorities for GSF agencies
   2.8.    Treasurer and Auditor-General to be notified of new GSF agencies

           Division 2.3 - Government officers

   2.9.    Government officers

           Division 2.4 - Annual reporting periods

   2.10.   Annual reporting periods for GSF agencies
   2.11.   Annual reporting period for NSW Government

   PART 3 - ROLES AND RESPONSIBILITIES

           Division 3.1 - Treasurer

   3.1.    Giving of Treasurer's directions
   3.2.    Basic content for Treasurer's directions
   3.3.    Application of Treasurer's directions
   3.4.    Duty to comply with Treasurer's directions
   3.5.    Consultation about certain proposed regulations, directions and determinations

           Division 3.2 - Accountable authorities

   3.6.    Policies and procedures for financial management of GSF agencies

           Division 3.3 - Government officers

   3.7.    Values and associated principles to guide government officers

   PART 4 - BUDGET, APPROPRIATIONS AND SPECIAL DEPOSITS ACCOUNT

           Division 4.1 - Budget

   4.1.    Budget Papers
   4.2.    Core content of Budget Papers
   4.3.    Additional content of Budget Papers
   4.4.    When Budget is to be presented to Parliament
   4.5.    Provision of budget information by GSF agencies

           Division 4.2 - Appropriations

   4.6.    Money to be paid out of Consolidated Fund or Special Deposits Account only if authorised
   4.7.    Deemed appropriations of certain money received by GSF agencies
   4.8.    Unused appropriations for annual reporting period
   4.9.    Appropriations affected by transfer of functions between Ministers or GSF agencies
   4.9A.   Deemed appropriations affected by transfer of functions between GSF agencies
   4.10.   Payments authorised on lapse of appropriation
   4.11.   Variations of annual appropriations for Commonwealth grants
   4.12.   Details of payments made from State contingencies appropriation to Treasurer
   4.13.   Payments out of Consolidated Fund for exigencies of Government
   4.14.   Payment of certain unclaimed money into Consolidated Fund

           Division 4.3 - Special Deposits Account

   4.15.   Special Deposits Account
   4.16.   Keeping of information concerning SDA accounts
   4.17.   Working accounts

   PART 5 - EXPENDITURE AND GIFTS

           Division 5.1 - Expenditure

   5.1.    Budget control authorities
   5.2.    Delegation of Minister's appropriation expenditure functions may limit amount and purposes of expenditure
   5.3.    Payment of tax-equivalents to Treasurer
   5.4.    Payment of financial distributions to Treasurer
   5.5.    Expenditure by accountable authorities and government officers must be authorised

           Division 5.2 - Gifts and act of grace payments

   5.6.    Gifts of government property
   5.7.    Act of grace payments

   PART 6 - FINANCIAL SERVICES AND ARRANGEMENTS

           Division 6.1 - Introduction

   6.1.    Application of Part
   6.2.    Exercise of functions for GSF agencies that are not persons
   6.3.    Authorisation to invest in government issued investments

           Division 6.2 - Key concepts

   6.4.    Concepts relating to banking
   6.5.    Arrangement
   6.6.    Financial services
   6.7.    Financial arrangements
   6.8.    Borrowings
   6.9.    Investments
   6.10.   Derivative arrangements
   6.11.   Joint financing arrangements
   6.12.   Joint venture arrangements and joint ventures
   6.13.   Appropriate prudential protections

           Division 6.3 - Financial services

   6.14.   Treasurer may enter State financial service agreements
   6.15.   Treasurer's directions may include directions concerning use of financial services
   6.16.   Treasurer may access certain information of GSF agencies about financial services
   6.17.   Guarantees and indemnities concerning money in banking accounts under State financial service agreement
   6.18.   Treasurer may operate banking accounts
   6.19.   Accountable authority may operate banking accounts
   6.20.   GSF agencies to give written consent for access to banking accounts

           Division 6.4 - Financial arrangements

   6.21.   Treasurer may enter financial arrangements for State and GSF agencies
   6.22.   Financial arrangements for GSF agencies
   6.23.   Financial arrangement approvals
   6.24.   Borrowings to be obtained from New South Wales Treasury Corporation
   6.25.   Derivative arrangements by New South Wales Treasury Corporation

           Division 6.5 - Guarantees for financial arrangements

   6.26.   Mandatory statutory guarantee of certain borrowings repayments
   6.27.   Discretionary guarantees
   6.28.   Statutory charge on income or revenue for payments under certain financial arrangements
   6.29.   Guarantee fees for certain guaranteed payments
   6.30.   Priorities of obligations under certain financial arrangements and guarantees
   6.31.   Payments by Government for certain financial arrangements if GSF agency prevented
   6.32.   Recovery of money paid under guarantee
   6.33.   Appropriations for liabilities under Division

           Division 6.6 - Funds managers

   6.34.   New South Wales Treasury Corporation may act as and engage funds manager
   6.35.   Funds managers for GSF agencies
   6.36.   Functions of funds managers
   6.37.   Effect of Division on New South Wales Treasury Corporation

   PART 7 - REPORTING

           Division 7.1 - Interpretation

   7.1.    Application and objects of Part
   7.2.    Definitions
   7.3.    Reporting GSF agencies and prescribed reporting exemption criteria

           Division 7.2 - Financial reporting

   7.4.    Application of Division
   7.5.    Accounts and records of GSF agencies
   7.6.    Annual GSF financial statements
   7.7.    Final annual GSF financial statements for former reporting GSF agencies
   7.8.    Financial reports concerning SDA accounts
   7.9.    Special purpose financial reports

           Division 7.3 - Annual reporting information for reporting GSF agencies

   7.10.   Application of Division
   7.11.   Annual reporting information
   7.12.   Preparation of annual reporting information
   7.13.   Responsible Minister to cause annual reporting information to be tabled
   7.14.   Final annual reporting information for former reporting GSF agencies

           Division 7.4 - Consolidated government sector reporting

   7.15.   Monthly statements
   7.16.   Half-yearly reviews
   7.17.   Consolidated State Financial Statements
   7.18.   Tabling of Consolidated State Financial Statements

   PART 8 - PERFORMANCE INFORMATION OF GSF AGENCIES

   8.1.    Application of Part
   8.2.    Performance information of GSF agencies

   PART 9 - ADMINISTRATION

           Division 9.1 - Information sharing

   9.1.    Relevant agency information
   9.2.    Treasurer may request certain information about GSF agencies
   9.3.    Minister may request relevant agency information about funded GSF agencies
   9.4.    Content of requests
   9.5.    Compliance with requests
   9.6.    Division does not limit information sharing

           Division 9.2 - Delegations
           Note

   9.7.    Delegable functions
   9.8.    Delegations by Treasurer of certain functions
   9.9.    Delegations by Ministers
   9.10.   Delegations by GSF agencies that are persons
   9.11.   Delegations by accountable authorities

           Division 9.3 - Documents

   9.12.   Tabling of documents in Parliament when it is not sitting
   9.13.   Service of documents
   9.14.   Language of records

           Division 9.4 - Civil recovery

   9.15.   Debt for unauthorised gifts of government property
   9.16.   Debt for loss of resources because of misconduct by persons handling government resources
   9.17.   Amount of debt
   9.18.   Recovery and writing off of debt
   9.19.   Relationship of Division with Government Sector Employment Act 2013

   PART 10 - MISCELLANEOUS

   10.1.   Status of Workers Compensation Insurance Fund
   10.2.   Exemption from duty under Duties Act 1997
   10.3.   Reference of matters to Public Accounts Committee
   10.3A.  Administration of government grants
   10.4.   Regulations
   10.5.   Repeal of Schedule 2
           SCHEDULE 1
           Schedule 2 (Repealed)