Financial Management Act 1996

The responsible Minister or the responsible director‑general may open 1 or more banking accounts for the purposes of the relevant directorate.

A directorate banking account must be maintained by the director‑general.

A directorate banking account must not, without the Treasurer’s written approval, be opened or maintained otherwise than with an authorised deposit-taking institution with which an agreement is in force under section 32.

The responsible Minister or the responsible director‑general of a directorate may close a directorate banking account of the directorate.

If the responsible Minister or the responsible director‑general of a directorate closes a directorate banking account under subsection (4), the Minister or director-general must transfer any money standing to the credit of the account to another directorate banking account of the directorate or to the territory banking account.

The Treasurer may, at any time, after consultation with the responsible Minister, close or suspend the operation of a directorate banking account.

A Minister or a director‑general must not open or operate a directorate banking account otherwise than in accordance with this Act.