New South Wales Consolidated Acts

GOVERNMENT SECTOR FINANCE ACT 2018 - SECT 6.21

6.21 Treasurer may enter financial arrangements for State and GSF agencies

(1) The Treasurer may enter into financial arrangements for or on behalf of--

(a) the State, or

(b) one or more GSF agencies (including those without power to enter the arrangements directly).

(2) Without limiting subsection (1), the Treasurer may do any of the following (whether or not under a financial arrangement or other arrangement)--

(a) repay debts of the State or GSF agencies,

(b) loan money to GSF agencies,

(c) invest money forming part of the Consolidated Fund or held in an SDA account or statutory special purpose fund (including by depositing that money in one or more banking accounts) if a GSF agency is not authorised to invest the money.

Note--: Section 6.14 (8)-(11) also authorise the Treasurer to include any money held in an SDA account or statutory special purpose fund in banking account structuring under a State financial service agreement. The depositing of the money in the banking account structuring is taken to be an investment of the money for the purposes of this Act even if the use of the money does not directly generate interest for payment into the SDA account or statutory special purpose fund.

(3) The Treasurer may enter a financial arrangement or other arrangements under this section on any terms and conditions that the Treasurer considers appropriate.

(4) To avoid doubt, the Treasurer's power to enter financial arrangements or other arrangements under this section for loaning money to GSF agencies extends to providing loans in the future if and when required.

(5) If the Treasurer repays debts of the State or GSF agencies under this section, the Treasurer is taken to have been given an appropriation out of the Consolidated Fund under the authority of this section at the time the debts are paid for the amount of the debts paid.

(6) This section does not--

(a) authorise the Treasurer to enter into financial arrangements in respect of money forming part of the Consolidated Fund, or held in an SDA account or statutory special purpose fund, if a GSF agency is authorised to enter into financial arrangements of the same kind in respect of that money (whether under this Part or another law), or

(b) except as authorised by section 6.14 (8)-(11)--authorise the Treasurer to spend or pay out money held in an SDA account or statutory special purpose fund for a purpose that is not authorised under the authority that is applicable to the constitution of the account or fund, or

(c) limit the powers of the Treasurer under Division 6.3.

Note--: Section 4.6 (3) extends to money forming part of the Consolidated Fund or held in an SDA account deposited or invested under the authority of this section.