STATUTORY BODIES FINANCIAL ARRANGEMENTS ACT 1982 - As at 23 September 2013 - Act 33 of 1982
- As at 23 September 2013
- Act 33 of 1982
Table of Provisions
PART 1 - PRELIMINARY
- 1 Short title
- 2 Object of Act
- 3 Act to bind Crown
- 3A Dictionary
- 3B References to members of statutory bodies
PART 2 - QUEENSLAND GOVERNMENT DEVELOPMENT AUTHORITY
PART 2A - ENTITIES TO WHICH ACT APPLIES
- 5 Act applies to statutory bodies
- 6 Entities that are not statutory bodies
PART 2B - POWERS UNDER THIS ACT AND RELATIONSHIP WITH OTHER ACTS
- 7 Exercise of powers under this Act
- 8 Status of general banking powers under pt 4
- 9 Statutory bodies’ borrowing powers under pt 5 and other Acts
- 10 Statutory bodies’ investment powers under pt 6 and other Acts
- 11 Relationship of pt 7 to other parts of Act and other Acts
- 11A Relationship of pt 7A with other parts of this Act and other Acts
- 12 Statutory bodies acting as trustees or otherwise holding property
- 13 Application of future laws to statutory bodies
- 13A Excluded matter for Corporations legislation
- 14 Conditions precedent to financial arrangements and other matters
PART 3 - GUARANTEE OF STATUTORY BODIES’ FINANCIAL ARRANGEMENTS
Division 1 - Guarantees by Treasurer about obligations of statutory bodies
- 15 State guarantee may only be given under this division
- 16 Guarantees for the State
- 16A Treasurer may charge for a guarantee under s 16
- 17 Appropriation
- 18 Requirement for security
- 19 Guarantee may include waiver of immunity and other provisions
Division 2 - Miscellaneous provisions about guarantees
- 20 Guarantee not affected by transfer of liability
- 21 Loans from QTC to statutory bodies
Division 3 - Consequences if payment required under guarantee
- 22 Application of division
- 23 Treasurer entitled to recover guarantee amount, interest etc.
- 24 Appointing a person to recover guarantee amount etc.
- 25 Purpose of appointment and necessary powers of appointee
25A. (Repealed)
25B. (Repealed)
- 26 Exercise of powers by members of statutory bodies
- 27 Treasurer may give directions to appointee and members
- 28 Way amounts collected by appointee are to be dealt with
- 29 Recovery of amounts as debt from statutory body
- 30 Treasurer may take security held by person paid guarantee amount
PART 4 - GENERAL BANKING POWERS
- 31 General banking powers for day-to-day operations
Division 1 - Interpretation
Division 2 - Power to borrow
- 33 Application of borrowing power by regulation
- 34 Statutory bodies may borrow with the Treasurer’s approval
Division 3 - Creation of encumbrances over property and income
- 35 Treasurer’s approval before creating encumbrance etc.
- 36 Ranking of encumbrances on income and property
Division 4 - Creditor remedies
- 37 Creditor may only recover overdue amounts if notice given
- 38 Remuneration of receiver
- 39 Receiver to collect revenue and may exercise powers of statutory body
- 40 Way amounts collected by receiver are to be dealt with
- 41 Debentures, bonds or inscribed stock may include alternative remedies
PART 6 - INVESTMENT POWERS
Division 1 - Categories of investment powers
- 42 Investment power depends on allocation under regulation
- 43 Limitation on investment power
Division 2 - Particulars of categories
- 44 Category 1 investment power
- 45 Category 2 investment power
- 46 Category 3 investment power
Division 3 - Duties of statutory body when investing
- 47 Statutory body to try to invest at most advantageous rate
- 48 Investment documents to be held by statutory body or as approved
Division 4 - Secured investments
- 49 Division applies to secured investments
- 50 Security for investment arrangement at time of investment
- 51 Regulations about valuations
Division 5 - Rated investment arrangements
- 52 Requirements if an investment arrangement’s rating changes
PART 7 - DERIVATIVE TRANSACTIONS, FUNDS MANAGERS AND TYPE 1 FINANCIAL ARRANGEMENTS
Division 1 - Derivative transactions
- 53 Derivative transactions permitted only for certain statutory bodies
- 54 Body to enter into derivative transaction only for hedging purposes
- 55 Requirement to report to Treasurer about derivatives
- 56 Requirement to report to relevant Minister about derivative
- 57 Statutory bodies’ Minister must monitor derivative transactions
Division 2 - Appointment of funds managers
- 58 Application of division
- 59 Appointment of funds managers with Treasurer’s approval
- 60 Management of statutory body’s funds by funds manager
Division 3 - Type 1 financial arrangements
- 60A Statutory body may enter into a type 1 financial arrangement
PART 7A - POWER FOR TYPE 2 FINANCIAL ARRANGEMENTS
- 61 Application of pt 7A
- 61A Statutory body may enter into a type 2 financial arrangement with Treasurer’s approval
PART 8 - OTHER PROVISIONS ABOUT FINANCIAL ARRANGEMENTS
Division 1 - Documents for financial arrangements under this Act
- 62 Statutory body may sign necessary documents
- 63 Conditions waiving immunity, rules of contract etc.
- 64 Conditions about buildings, structures or other fixtures
65. (Repealed)
Division 2 - Matters about trusts
- 66 Notice of trusts not to be received
Division 3 - Other parties to financial arrangements
- 67 Protection of persons who enter into financial arrangements with statutory bodies
- 68 Illegal financial arrangements
PART 9 - APPROVALS BY TREASURER
Division 1 - Application
Division 2 - General approvals
- 70 Approval may be general in nature
Division 3 - Specific approvals
- 71 Way statutory body may apply for approval
- 72 Treasurer may ask for documents
- 73 Approval to state conditions
- 74 Register about approvals for a statutory body
Division 4 - Offences in relation to certain documents
- 75 False or misleading documents
PART 10 - MISCELLANEOUS
- 76 Delegations by Treasurer
77. (Repealed)
- 78 Regulation-making power
PART 11 - TRANSITIONAL PROVISIONS
Division 1 - Transitional provisions for Statutory Bodies Financial Arrangements Amendment Act 1996
- 79 Interpretation for div 1
- 80 Existing arrangements, existing authorities and guarantees under other Acts
- 81 Existing guarantees
- 82 Certain loans by QTC taken to be guaranteed
- 83 Debentures, bonds and inscribed stock issued, and charges over income created, before commencement
84. (Repealed)
- 85 No automatic default for existing arrangements
Division 2 - Transitional provisions for Statutory Bodies Financial Arrangements Amendment Act 2003
- 86 Definitions for div 2
- 87 Approval before commencement for arrangement that is a type 1 financial arrangement
- 88 Approval before commencement for arrangement that is a type 2 financial arrangement
- 89 Approval on condition under s 70 before commencement
Schedule 1 (Repealed)
Schedule 2 (Repealed)
Schedule 3 (Repealed)