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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 (Repealed) 25B. (Repealed)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

PART 5 - BORROWING POWERS

Division 1 - Interpretation

  • 32 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

  • 69 Application of part

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

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