New South Wales Consolidated Acts

PUBLIC FINANCE AND AUDIT ACT 1983 - SECT 17

17 Official account not to be opened without authority

(1) An accounting officer shall not, without the authorisation in writing of the Treasurer, open an account with a bank, building society or credit union for the payment or receipt of public money.

(2) A bank, building society or credit union shall not, without the authorisation in writing of the Treasurer, permit an accounting officer to open an account referred to in subsection (1), or to have an overdraft on such an account.

(3) The Treasurer may permit a statutory body (being a person, group of persons or body specified in Schedule 2) to operate and keep funds in an account referred to in subsection (1).

(4) If permission is given under subsection (3), the Treasurer may:

(a) close any account within the Special Deposits Account established in relation to the statutory body, and

(b) transfer any balance in that account to the account referred to in subsection (3).

(5) Subsections (3) and (4) have effect notwithstanding the provisions of any other Act.