New South Wales Consolidated Acts

PUBLIC AUTHORITIES (FINANCIAL ARRANGEMENTS) ACT 1987 - SECT 2B

2B Exclusive operation of Act

(1) If an Act or statutory rule (other than this Act and the regulations) expressly or impliedly confers or imposes any function on an authority for or with respect to the entry into and maintenance of financial arrangements or joint venture arrangements, the authority is not to exercise those functions unless:

(a) the authority is authorised to do so under subsection (3) or by or under any other provision of this Act, or

(b) the arrangements are approved under this Act.

(2) The regulations may provide that subsection (1) does not apply to any arrangement or any arrangement of a class prescribed by the regulations.

(3) The Treasurer may, by order in writing, authorise a specified authority to exercise any specified function referred to in subsection (1), either generally or in relation to any specified arrangement or arrangement of a specified class. Any such authorisation may be given unconditionally or subject to such conditions as the Treasurer thinks appropriate.