GOVERNMENT SECTOR FINANCE ACT 2018 - As at 21 March 2024 - Act 55 of 2018
- As at 21 March 2024 - Act 55 of 2018Table of Provisions
PART 1 - PRELIMINARY
Division 1.1 - Introduction
Division 1.2 - Interpretation generally
Division 1.3 - Application of Act
Division 1.4 - Relationship of Act with other laws
- 1.8 Relationship with other legislation generally
- 1.9 Exclusion or displacement of Corporations legislation
PART 2 - KEY CONCEPTS
Division 2.1 - Entities generally
Division 2.2 - GSF agencies and related concepts
- 2.4 GSF agencies
- 2.5 Separate GSF agency
- 2.6 Responsible Minister for GSF agencies
- 2.7 Accountable authorities for GSF agencies
- 2.8 Treasurer and Auditor-General to be notified of new GSF agencies
Division 2.3 - Government officers
- 2.9 Government officers
Division 2.4 - Annual reporting periods
PART 3 - ROLES AND RESPONSIBILITIES
Division 3.1 - Treasurer
- 3.1 Giving of Treasurer's directions
- 3.2 Basic content for Treasurer's directions
- 3.3 Application of Treasurer's directions
- 3.4 Duty to comply with Treasurer's directions
- 3.5 Consultation about certain proposed regulations, directions and determinations
Division 3.2 - Accountable authorities
- 3.6 Policies and procedures for financial management of GSF agencies
Division 3.3 - Government officers
- 3.7 Values and associated principles to guide government officers
PART 4 - BUDGET, APPROPRIATIONS AND SPECIAL DEPOSITS ACCOUNT
Division 4.1 - Budget
- 4.1 Budget Papers
- 4.2 Core content of Budget Papers
- 4.3 Additional content of Budget Papers
- 4.4 When Budget is to be presented to Parliament
- 4.5 Provision of budget information by GSF agencies
Division 4.2 - Appropriations
- 4.6 Money to be paid out of Consolidated Fund or Special Deposits Account only if authorised
- 4.7 Deemed appropriations of certain money received by GSF agencies
- 4.8 Unused appropriations for annual reporting period
- 4.9 Appropriations affected by transfer of functions between Ministers or GSF agencies
- 4.9A Deemed appropriations affected by transfer of functions between GSF agencies
- 4.10 Payments authorised on lapse of appropriation
- 4.11 Variations of annual appropriations for Commonwealth grants
- 4.12 Details of payments made from State contingencies appropriation to Treasurer
- 4.13 Payments out of Consolidated Fund for exigencies of Government
- 4.14 Payment of certain unclaimed money into Consolidated Fund
Division 4.3 - Special Deposits Account
- 4.15 Special Deposits Account
- 4.16 Keeping of information concerning SDA accounts
- 4.17 Working accounts
PART 5 - EXPENDITURE AND GIFTS
Division 5.1 - Expenditure
- 5.1 Budget control authorities
- 5.2 Delegation of Minister's appropriation expenditure functions may limit amount and purposes of expenditure
- 5.3 Payment of tax-equivalents to Treasurer
- 5.4 Payment of financial distributions to Treasurer
- 5.5 Expenditure by accountable authorities and government officers must be authorised
Division 5.2 - Gifts and act of grace payments
PART 6 - FINANCIAL SERVICES AND ARRANGEMENTS
Division 6.1 - Introduction
- 6.1 Application of Part
- 6.2 Exercise of functions for GSF agencies that are not persons
- 6.3 Authorisation to invest in government issued investments
Division 6.2 - Key concepts
- 6.4 Concepts relating to banking
- 6.5 Arrangement
- 6.6 Financial services
- 6.7 Financial arrangements
- 6.8 Borrowings
- 6.9 Investments
- 6.10 Derivative arrangements
- 6.11 Joint financing arrangements
- 6.12 Joint venture arrangements and joint ventures
- 6.13 Appropriate prudential protections
Division 6.3 - Financial services
- 6.14 Treasurer may enter State financial service agreements
- 6.15 Treasurer's directions may include directions concerning use of financial services
- 6.16 Treasurer may access certain information of GSF agencies about financial services
- 6.17 Guarantees and indemnities concerning money in banking accounts under State financial service agreement
- 6.18 Treasurer may operate banking accounts
- 6.19 Accountable authority may operate banking accounts
- 6.20 GSF agencies to give written consent for access to banking accounts
Division 6.4 - Financial arrangements
- 6.21 Treasurer may enter financial arrangements for State and GSF agencies
- 6.22 Financial arrangements for GSF agencies
- 6.23 Financial arrangement approvals
- 6.24 Borrowings to be obtained from New South Wales Treasury Corporation
- 6.25 Derivative arrangements by New South Wales Treasury Corporation
Division 6.5 - Guarantees for financial arrangements
- 6.26 Mandatory statutory guarantee of certain borrowings repayments
- 6.27 Discretionary guarantees
- 6.28 Statutory charge on income or revenue for payments under certain financial arrangements
- 6.29 Guarantee fees for certain guaranteed payments
- 6.30 Priorities of obligations under certain financial arrangements and guarantees
- 6.31 Payments by Government for certain financial arrangements if GSF agency prevented
- 6.32 Recovery of money paid under guarantee
- 6.33 Appropriations for liabilities under Division
Division 6.6 - Funds managers
- 6.34 New South Wales Treasury Corporation may act as and engage funds manager
- 6.35 Funds managers for GSF agencies
- 6.36 Functions of funds managers
- 6.37 Effect of Division on New South Wales Treasury Corporation
PART 7 - REPORTING
Division 7.1 - Interpretation
- 7.1 Application and objects of Part
- 7.2 Definitions
- 7.3 Reporting GSF agencies and prescribed reporting exemption criteria
Division 7.2 - Financial reporting
- 7.4 Application of Division
- 7.5 Accounts and records of GSF agencies
- 7.6 Annual GSF financial statements
- 7.7 Final annual GSF financial statements for former reporting GSF agencies
- 7.8 Financial reports concerning SDA accounts
- 7.9 Special purpose financial reports
Division 7.3 - Annual reporting information for reporting GSF agencies
- 7.10 Application of Division
- 7.11 Annual reporting information
- 7.12 Preparation of annual reporting information
- 7.13 Responsible Minister to cause annual reporting information to be tabled
- 7.14 Final annual reporting information for former reporting GSF agencies
Division 7.4 - Consolidated government sector reporting
- 7.15 Monthly statements
- 7.16 Half-yearly reviews
- 7.17 Consolidated State Financial Statements
- 7.18 Tabling of Consolidated State Financial Statements
PART 8 - PERFORMANCE INFORMATION OF GSF AGENCIES
PART 9 - ADMINISTRATION
Division 9.1 - Information sharing
- 9.1 Relevant agency information
- 9.2 Treasurer may request certain information about GSF agencies
- 9.3 Minister may request relevant agency information about funded GSF agencies
- 9.4 Content of requests
- 9.5 Compliance with requests
- 9.6 Division does not limit information sharing
Division 9.2 - Delegations
Note- 9.7 Delegable functions
- 9.8 Delegations by Treasurer of certain functions
- 9.9 Delegations by Ministers
- 9.10 Delegations by GSF agencies that are persons
- 9.11 Delegations by accountable authorities
Division 9.3 - Documents
- 9.12 Tabling of documents in Parliament when it is not sitting
- 9.13 Service of documents
- 9.14 Language of records
Division 9.4 - Civil recovery
- 9.15 Debt for unauthorised gifts of government property
- 9.16 Debt for loss of resources because of misconduct by persons handling government resources
- 9.17 Amount of debt
- 9.18 Recovery and writing off of debt
- 9.19 Relationship of Division with Government Sector Employment Act 2013
PART 10 - MISCELLANEOUS
- 10.1 Status of Workers Compensation Insurance Fund
- 10.2 Exemption from duty under Duties Act 1997
- 10.3 Reference of matters to Public Accounts Committee
- 10.3A Administration of government grants
- 10.4 Regulations
- 10.5 Repeal of Schedule 2
- SCHEDULE 1 Schedule 2 (Repealed)