New South Wales Consolidated Acts

TREASURY CORPORATION ACT 1983 - SECT 6B

6B Limitations on powers

(1) The Corporation is not to invest funds of or under the control of the Corporation except:

(a) in the manner authorised by the Public Authorities (Financial Arrangements) Act 1987 , or

(b) if that Act does not confer power on the Corporation to invest the funds concerned, in any other manner approved by the Treasurer.

(2) The regulations may make provision for or with respect to the manner in which the Corporation is to assume the responsibility of the Government, a public authority or other public body for the administration of any matter relating to financial accommodation obtained.

(3) The Corporation is not to enter into a contract of guarantee except on such terms and conditions as are approved by the Treasurer.

(4) The Corporation is not to appoint or employ person (whether or not a public authority or other public body) to act as agent for the purpose of exercising the powers of the Corporation under the funding Act except with the approval of the Treasurer.

(5) The Corporation is not to act as agent for a public authority or other public body in obtaining financial accommodation under the funding Act or any other Act when the financial accommodation is obtained from the Corporation.