New South Wales Consolidated Acts

PUBLIC AUTHORITIES (FINANCIAL ARRANGEMENTS) ACT 1987 - SECT 8

8 Power to obtain financial accommodation

(1) This section applies to an authority in respect of which an approval is in force under section 7.

(2) For the purpose of exercising its functions, an authority may, in accordance with the written approval of the Treasurer, obtain financial accommodation within or outside Australia.

(3) The Treasurer’s approval:

(a) may be in respect of a specified purpose, or of 1 or more specified authorities, or of a specified class of authorities, and

(b) may be otherwise specific or may be general, and

(c) may be on such terms and subject to such conditions as the Treasurer thinks fit.

(4) The terms on which the Treasurer’s approval is given may include, but are not limited to, terms as to any of the following:

(a) the form of the financial accommodation to be obtained, including the currency in which it is to be obtained,

(b) the manner in which it is to be obtained,

(c) the terms and conditions on which it is to be obtained,

(d) the security to be provided for it,

(e) the instruments to be executed in connection with it.

(5) Without limiting subsection (4) (c), the Treasurer’s approval may be subject to a condition that an agreement under which financial accommodation is obtained contains provisions in or to the effect of those referred to in section 8A.