New South Wales Consolidated Acts

GOVERNMENT SECTOR FINANCE ACT 2018 - SECT 4.6

4.6 Money to be paid out of Consolidated Fund or Special Deposits Account only if authorised

(1) Money must not be paid out of the Consolidated Fund except under the authority of an Act.

Note : See also Part 5 of the Constitution Act 1902 , which requires certain kinds of government money to form one Consolidated Fund.

(2) Money must not be paid out of an SDA account except for the purposes of the account and under the authority that may be applicable to the constitution of the account.

(3) To avoid doubt--

(a) money is not paid out of the Consolidated Fund merely because--

(i) the money is deposited in a banking account of the State or a GSF agency if the deposited money continues to be held by, for or on behalf of the State, or

(ii) the money is used to purchase securities if the securities continue to be held by, for or on behalf of the State (regardless of whether the value of those securities increases or decreases after their purchase), and

(b) money is not paid out of an SDA account merely because--

(i) the money is deposited in a banking account of the State or a GSF agency if the deposited money continues to be held for use for the purposes of that account, or

(ii) the money is used to purchase securities if the securities continue to be held for use for the purposes of that account (regardless of whether the value of those securities increases or decreases after their purchase).

(4) In this section--

"securities" has the same meaning as in section 39 of the Constitution Act 1902 .