Western Australian Treasury Corporation Act 1986 (WA)

Western Australia Western Australian Treasury Corporation Act 1986 Western Australia Western Australian Treasury Corporation Act 1986 Contents Part I — Preliminary 1. Short title 2 2. Commencement 2 3. Terms used 2 4. Act to prevail over certain written laws 3 Part II — Western Australian Treasury Corporation 5. Western Australian Treasury Corporation established as body corporate 6 5A. Agent of Crown 6 5B. Board of directors 6 5C. Constitution and proceedings of board 7 5D. Remuneration of directors and committee members 7 6. Common seal, agents, attorneys and facsimiles of Corporation 7 7. Liability of Corporation for duties, taxes etc. 8 8. Chief executive officer 9 8AA. Remuneration of chief executive officer while Corporation is not a Government entity 10 8AB. Remuneration of chief executive officer while Corporation is a Government entity 11 8A. Role of chief executive officer 11 8B. Staff 11 8C. Use of other government staff etc. 12 Part III — Functions and powers of Corporation 9. Functions of Corporation 14 9A. Further provision as to assumption of liabilities on behalf of State 15 9B. Duty to observe policy instruments 16 10. General powers of Corporation 16 10A. Borrowing limits 21 11. Payment of debts incurred by Corporation 21 12. Advances to Corporation from Treasurer 22 13. State guarantee 22 14. Disposal of moneys borrowed by Corporation 24 15. Borrowers to pay certain amounts to Corporation 24 16. Repayment of guarantee moneys 25 Part IIIA — Corporate planning documents Division 1 — Strategic development plans 16A. Draft strategic development plan to be submitted to Minister 26 16C. Matters to be included in strategic development plan 26 16D. Strategic development plan to be agreed if possible 27 16E. Minister's powers in relation to draft strategic development plan 27 16F. Strategic development plan pending agreement 28 16G. Minister's agreement to draft strategic development plan 28 16H. Modification of strategic development plan 29 16HA. Concurrence of Treasurer 29 Division 2 — Statement of corporate intent 16I. Draft statement of corporate intent to be submitted to Minister 29 16K. Matters to be included in statement of corporate intent 30 16L. Statement of corporate intent to be agreed if possible 31 16M. Minister's powers in relation to draft statement of corporate intent 31 16N. Statement of corporate intent pending agreement 32 16O. Minister's agreement to draft statement of corporate intent 32 16P. Modification of statement of corporate intent 33 16PA. Concurrence of Treasurer 33 Division 3 — Supplementary provision as to laying directions before Parliament 16Q. Procedure where a House is not sitting 34 Part IV — General 17. Western Australian Treasury Corporation Account 35 17A. Dividends 36 18. Delegation by Corporation 36 19. Delegation by Minister of power of approval 37 20. Directions by Minister 37 21. Financial administration, audit and reporting 38 21A. Treasurer and Minister to have access to information 38 21B. Quarterly reports 39 22. Regulations 40 Part V — Transitional, validation and consequential amendment 23. Repeal 42 24. Transitional provisions 42 25. Validation 44 Schedule 1 — Bodies that are not authorities Schedule 2 — Constitution and proceedings of board Division 1 — Terms of office, meetings etc. 1. Term of office 46 2. Resignation, removal etc. 46 3. Leave of absence 46 4. Director under section 5B(1)(b) unable to act 47 5. Chief executive officer unable to attend 47 6. Appointed director unable to act 47 7. Saving 47 8. Calling of meetings 48 9. Presiding officer 48 10. Quorum 48 11. Voting 49 12. Minutes 49 13. Resolution without meeting 49 14. Telephone or video meetings 49 15. Committees 49 16. Board to determine own procedures 50 Division 2 — Disclosure of interests etc. 17. Disclosure of interests 50 18. Voting by interested directors 50 19. Clause 18 may be declared inapplicable 51 20. Quorum where clause 18 applies 51 21. Minister may declare clauses 18 and 20 inapplicable 51 Notes Compilation table 53 Other notes 55 Defined terms Western Australia Western Australian Treasury Corporation Act 1986 An Act to establish a corporation to provide financial management services to the Western Australian public sector. [Long title inserted: No. 25 of 1998 s. 4.]