New South Wales Consolidated Acts

GOVERNMENT SECTOR FINANCE ACT 2018 - SECT 6.36

6.36 Functions of funds managers

(1) A GSF agency that is engaged to act as a funds manager under this Division has (and is authorised to exercise) the functions of a funds manager under this Division despite any other law.

Note--: The functions of a fund manager conferred by this section are delegable functions under Division 9.2.

(2) A funds manager that a GSF agency has engaged under this Division may do any of the following on behalf of the GSF agency--

(a) invest (subject to the Treasurer's directions, the regulations and the terms and conditions of a funds manager approval) money held by the GSF agency under management in any investment in which the funds manager is authorised to invest its own money or other money,

(b) exercise any functions in relation to the management of the financial arrangements of the GSF agency that the funds manager manages as may be required or permitted by or under the Treasurer's directions or the regulations in accordance with those directions or regulations.

(3) Without limiting section 6.35 (4) or subsection (2), the Treasurer's directions and regulations may make provision for or with respect to--

(a) terms and conditions for funds manager approvals, and

(b) kinds of investments that can or cannot be made by funds managers who are engaged to manage investments of GSF agencies, and

(c) entities (or kinds of entities) in respect of which funds manager approvals can or cannot be given.