Queensland Consolidated Acts

STATUTORY BODIES FINANCIAL ARRANGEMENTS ACT 1982

- As at 23 September 2013 
- Act 33 of 1982 

TABLE OF PROVISIONS

           Long Title

   PART 1 - PRELIMINARY

   1.      Short title
   2.      Object of Act
   3.      Act to bind Crown
   3A.     Dictionary
   3B.     References to members of statutory bodies

   PART 2 - QUEENSLAND GOVERNMENT DEVELOPMENT AUTHORITY

   4.      Constitution of the authority
   4A.     Continuation of the authority

   PART 2A - ENTITIES TO WHICH ACT APPLIES

   5.      Act applies to statutory bodies
   6.      Entities that are not statutory bodies

   PART 2B - POWERS UNDER THIS ACT AND RELATIONSHIP WITH OTHER ACTS

   7.      Exercise of powers under this Act
   8.      Status of general banking powers under pt 4
   9.      Statutory bodies’ borrowing powers under pt 5 and other Acts
   10.     Statutory bodies’ investment powers under pt 6 and other Acts
   11.     Relationship of pt 7 to other parts of Act and other Acts
   11A.    Relationship of pt 7A with other parts of this Act and other Acts
   12.     Statutory bodies acting as trustees or otherwise holding property
   13.     Application of future laws to statutory bodies
   13A.    Excluded matter for Corporations legislation
   14.     Conditions precedent to financial arrangements and other matters

   PART 3 - GUARANTEE OF STATUTORY BODIES’ FINANCIAL ARRANGEMENTS

           Division 1 - Guarantees by Treasurer about obligations of statutory bodies

   15.     State guarantee may only be given under this division
   16.     Guarantees for the State
   16A.    Treasurer may charge for a guarantee under s 16
   17.     Appropriation
   18.     Requirement for security
   19.     Guarantee may include waiver of immunity and other provisions

           Division 2 - Miscellaneous provisions about guarantees

   20.     Guarantee not affected by transfer of liability
   21.     Loans from QTC to statutory bodies

           Division 3 - Consequences if payment required under guarantee

   22.     Application of division
   23.     Treasurer entitled to recover guarantee amount, interest etc.
   24.     Appointing a person to recover guarantee amount etc.
   25.     Purpose of appointment and necessary powers of appointee
   25A.    (Repealed)
   25B.    (Repealed)
   26.     Exercise of powers by members of statutory bodies
   27.     Treasurer may give directions to appointee and members
   28.     Way amounts collected by appointee are to be dealt with
   29.     Recovery of amounts as debt from statutory body
   30.     Treasurer may take security held by person paid guarantee amount

   PART 4 - GENERAL BANKING POWERS

   31.     General banking powers for day-to-day operations

   PART 5 - BORROWING POWERS

           Division 1 - Interpretation

   32.     Interpretation

           Division 2 - Power to borrow

   33.     Application of borrowing power by regulation
   34.     Statutory bodies may borrow with the Treasurer’s approval

           Division 3 - Creation of encumbrances over property and income

   35.     Treasurer’s approval before creating encumbrance etc.
   36.     Ranking of encumbrances on income and property

           Division 4 - Creditor remedies

   37.     Creditor may only recover overdue amounts if notice given
   38.     Remuneration of receiver
   39.     Receiver to collect revenue and may exercise powers of statutory body
   40.     Way amounts collected by receiver are to be dealt with
   41.     Debentures, bonds or inscribed stock may include alternative remedies

   PART 6 - INVESTMENT POWERS

           Division 1 - Categories of investment powers

   42.     Investment power depends on allocation under regulation
   43.     Limitation on investment power

           Division 2 - Particulars of categories

   44.     Category 1 investment power
   45.     Category 2 investment power
   46.     Category 3 investment power

           Division 3 - Duties of statutory body when investing

   47.     Statutory body to try to invest at most advantageous rate
   48.     Investment documents to be held by statutory body or as approved

           Division 4 - Secured investments

   49.     Division applies to secured investments
   50.     Security for investment arrangement at time of investment
   51.     Regulations about valuations

           Division 5 - Rated investment arrangements

   52.     Requirements if an investment arrangement’s rating changes

   PART 7 - DERIVATIVE TRANSACTIONS, FUNDS MANAGERS AND TYPE 1 FINANCIAL ARRANGEMENTS

           Division 1 - Derivative transactions

   53.     Derivative transactions permitted only for certain statutory bodies
   54.     Body to enter into derivative transaction only for hedging purposes
   55.     Requirement to report to Treasurer about derivatives
   56.     Requirement to report to relevant Minister about derivative
   57.     Statutory bodies’ Minister must monitor derivative transactions

           Division 2 - Appointment of funds managers

   58.     Application of division
   59.     Appointment of funds managers with Treasurer’s approval
   60.     Management of statutory body’s funds by funds manager

           Division 3 - Type 1 financial arrangements

   60A.    Statutory body may enter into a type 1 financial arrangement

   PART 7A - POWER FOR TYPE 2 FINANCIAL ARRANGEMENTS

   61.     Application of pt 7A
   61A.    Statutory body may enter into a type 2 financial arrangement with Treasurer’s approval

   PART 8 - OTHER PROVISIONS ABOUT FINANCIAL ARRANGEMENTS

           Division 1 - Documents for financial arrangements under this Act

   62.     Statutory body may sign necessary documents
   63.     Conditions waiving immunity, rules of contract etc.
   64.     Conditions about buildings, structures or other fixtures
   65.     (Repealed)

           Division 2 - Matters about trusts

   66.     Notice of trusts not to be received

           Division 3 - Other parties to financial arrangements

   67.     Protection of persons who enter into financial arrangements with statutory bodies
   68.     Illegal financial arrangements

   PART 9 - APPROVALS BY TREASURER

           Division 1 - Application

   69.     Application of part

           Division 2 - General approvals

   70.     Approval may be general in nature

           Division 3 - Specific approvals

   71.     Way statutory body may apply for approval
   72.     Treasurer may ask for documents
   73.     Approval to state conditions
   74.     Register about approvals for a statutory body

           Division 4 - Offences in relation to certain documents

   75.     False or misleading documents

   PART 10 - MISCELLANEOUS

   76.     Delegations by Treasurer
   77.     (Repealed)
   78.     Regulation-making power

   PART 11 - TRANSITIONAL PROVISIONS

           Division 1 - Transitional provisions for Statutory Bodies Financial Arrangements Amendment Act 1996

   79.     Interpretation for div 1
   80.     Existing arrangements, existing authorities and guarantees under other Acts
   81.     Existing guarantees
   82.     Certain loans by QTC taken to be guaranteed
   83.     Debentures, bonds and inscribed stock issued, and charges over income created, before commencement
   84.     (Repealed)
   85.     No automatic default for existing arrangements

           Division 2 - Transitional provisions for Statutory Bodies Financial Arrangements Amendment Act 2003

   86.     Definitions for div 2
   87.     Approval before commencement for arrangement that is a type 1 financial arrangement
   88.     Approval before commencement for arrangement that is a type 2 financial arrangement
   89.     Approval on condition under s 70 before commencement
           Schedule 1 (Repealed)
           Schedule 2 (Repealed)
           Schedule 3 (Repealed)
           SCHEDULE - Dictionary