New South Wales Consolidated Acts

PUBLIC AUTHORITIES (FINANCIAL ARRANGEMENTS) ACT 1987 - SECT 10

10 Provision of financial accommodation from Treasury Corporation

(1) Despite anything in this Act, but subject to subsection (2), an authority must not obtain financial accommodation otherwise than from the Treasury Corporation.

(2) Subsection (1) does not apply:

(a) in respect of the provision of financial accommodation by way of an advance of money by the Treasurer under section 9, or

(b) to the extent of any exemptions under subsection (3).

(3) The Treasurer may, by order in writing, grant exemptions from subsection (1). Such an exemption may be granted in relation to specified authorities, specified classes of authorities or all authorities or in relation to specified transactions, specified classes of transactions or all transactions, or any combination.