New South Wales Consolidated Acts

PUBLIC FINANCE AND AUDIT ACT 1983 - SECT 59B

59B Payment of certain amounts by statutory authority to Consolidated Fund

(1) In this section, "dividend", in relation to a statutory authority, means an amount calculated by applying a rate, determined by the Treasurer, to the assets, or some portion of the assets, of the statutory authority.

(2) Notwithstanding any other Act, the Treasurer may at any time require a prescribed statutory authority to pay to the credit of the Consolidated Fund, at such times and in such manner as the Treasurer directs, such amount by way of dividend as the Treasurer may determine and notify to the statutory authority.

(3) The Treasurer may require a statutory authority to prepare and submit to the Treasurer such accounting statements (if any), required for the determination of dividends payable by the statutory authority, in such manner (if any) and such form (if any) as the Treasurer determines.

(4) A statutory authority shall comply with a requirement made in respect of it by the Treasurer under this section.

(5) Notwithstanding any other Act, the Treasurer may, in relation to a payment by a statutory authority under this section, make any one or more of the following determinations:

(a) that the payment shall be deemed to be payment or part payment of another amount, specified by the Treasurer, which the statutory authority is required to pay to the Treasurer,

(b) that the payment shall be paid in addition to any other amount which the statutory authority is required to pay to the Treasurer,

(c) that the payment shall be deemed to be an obligation of the statutory authority under the Act by which the statutory authority is constituted.