Statutory Bodies Financial Arrangements Act 1982 (Qld)

Statutory Bodies Financial Arrangements Act 1982

An Act to provide for the constitution of the Queensland Government Development Authority, to provide for guarantees by the Treasurer of statutory bodies' financial arrangements, to confer on statutory bodies power to enter into and perform financial arrangements, to confer on statutory bodies authority to invest moneys and for related purposes

Part 1 Preliminary

1 Short title This Act may be cited as the Statutory Bodies Financial Arrangements Act 1982.

2 Object of Act (1) The object of this Act is to provide for the efficient and effective management of the powers of statutory bodies to enter into financial arrangements. (2) The object is achieved by a coordinated and prudent approach towards— (a) the guarantees the Treasurer may give, for the State, for financial arrangements entered into by statutory bodies under this Act or another Act; and (b) the general banking powers, and the borrowing and investment powers, of statutory bodies; and (c) the way in which statutory bodies may, with the Treasurer's approval, enter into derivative transactions, appoint funds managers and enter into other financial arrangements.

3 Act to bind Crown This Act binds the Crown.

3A Dictionary The dictionary in the schedule defines particular words used in this Act.

3B References to members of statutory bodies (1) A reference in this Act to a statutory body's members is, for a body without members, a reference to the person or other entity that makes its decisions or controls its funds as mentioned in section 5(2)(c). (2) Subsection (1) does not apply to references to a statutory body's members in section 5.

Part 2 Queensland Government Development Authority

4 Constitution of the authority The Under Treasurer is hereby constituted a corporation sole under the name and style 'The Queensland Government Development Authority' and under that name and style shall have perpetual succession and an official seal.