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STATUTORY BODIES FINANCIAL ARRANGEMENTS ACT 1982 - SECT 53
Derivative transactions permitted only for certain statutory bodies
53 Derivative transactions permitted only for certain statutory bodies
(1) A statutory body may enter into a derivative transaction under this
division— (a) in its own name; or
(b) in the name of a person who, with the
Treasurer’s approval, has been appointed in writing by the body as its agent
for this division.
(2) The statutory body may enter into the derivative
transaction only if— (a) the body is prescribed, under a regulation, as a
statutory body that may enter into derivative transactions; and
(b) the
Treasurer’s approval has been given for the body to enter into the
derivative transaction, or derivative transactions of the type concerned.
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