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STATUTORY BODIES FINANCIAL ARRANGEMENTS ACT 1982 - SECT 88
Approval before commencement for arrangement that is a type 2 financial arrangement
88 Approval before commencement for arrangement that is a type 2 financial
arrangement
(1) This section applies to a Treasurer’s approval for section 61 of the
pre-amended Act, as that approval was in force immediately before the
commencement, to the extent the approval authorised a statutory body to enter
into an arrangement that, if the statutory body were to enter into the
arrangement after the commencement, would be an arrangement that is not a type
1 financial arrangement.
(2) The approval continues to have effect, and may
be dealt with, after the commencement as if it were a Treasurer’s approval
for section 61A .
(3) An arrangement entered into before the commencement
under the approval continues to have effect, and may be dealt with, after the
commencement as if it were a type 2 financial arrangement.
(4) If the
approval provided that a further arrangement may be entered into, other than
an arrangement that would be a type 1 financial arrangement, the further
arrangement— (a) may be entered into under the approval after the
commencement; and
(b) is to be dealt with as if it were a type 2 financial
arrangement.
(5) Subsections (3) and (4) apply even if the arrangement
mentioned in either of those subsections is not a financial arrangement under
this Act.
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