New South Wales Consolidated Acts

PUBLIC AUTHORITIES (FINANCIAL ARRANGEMENTS) ACT 1987 - SECT 37A

37A Controlled entities

(1) An authority that controls an entity must ensure that the controlled entity does not enter into or maintain any financial arrangements that the authority itself is not authorised by or under this Act to enter into, except to the extent that:

(a) the authority is permitted by the Treasurer under subsection (2) to authorise the entity to enter into or maintain (or both) any such financial arrangements, or

(b) this subsection does not apply to any such financial arrangements because of the regulations under subsection (3).

(2) The Treasurer may, by order in writing, permit a specified authority to authorise a controlled entity to enter into or maintain (or both) financial arrangements of the kind referred to in subsection (1). Permission may be given in respect of a specified financial arrangement or financial arrangements of a specified class.

(3) The regulations may provide that subsection (1) does not apply to financial arrangements of a specified class.

(4) This section does not itself confer power on a controlled entity to enter into or maintain any financial arrangements.

(5) This section does not affect any obligations imposed on a controlled entity by or under any Act or law, other than an obligation imposed on the controlled entity by the authority at its discretion.

(6) The fact that a Minister may exercise control over or give directions to an authority does not make the authority a controlled entity of that Minister for the purposes of this Act.

(7) In this section:
"authority" includes any person who may exercise functions on behalf of the authority.
"financial arrangements" includes arrangements for or with respect to carrying on a joint venture.