New South Wales Consolidated Acts

PUBLIC FINANCE AND AUDIT ACT 1983 - SECT 15

15 Agreement with bank, building society or credit union

(1) The Treasurer may agree with any bank, building society or credit union upon such terms and conditions as the Treasurer may think fit for:

(a) the receipt, custody, payment and transmission of public money,

(b) the inscription, management and payment of interest on the public debt within or without New South Wales,

(c) the making of advances, the charges relating to advances and the interest payable by or to the bank, building society or credit union upon balances or advances, and

(d) the conduct of the banking business of the State generally.

(2) An agreement referred to in subsection (1) shall not be made to have effect within New South Wales for more than 1 year unless it contains a provision that it may be terminated at any time on the giving of 6 months’ notice.