Loans Securities Act 1919

The Treasurer may, by signed instrument, delegate all or any of the Treasurer’s powers and functions under section 5BA to:

an SES employee in the Department; or

an APS employee who holds or performs the duties of an Executive Level 2, or equivalent, position in the Department; or

a person appointed as a staff member of the Reserve Bank Service under section 67 of the Reserve Bank Act 1959 who occupies an office or position at an equivalent level to that of an SES employee, or an Executive Level 2, in the Department.

The Treasurer must, by signed instrument, give a direction as to the kinds of collateral that must be received in relation to securities lending arrangements entered into under subsection 5BA(1).

In exercising the Treasurer’s powers and functions under section 5BA, a delegate must comply with:

a direction in force under subsection (2); and

any other direction given, by signed instrument, to the delegate by the Treasurer.

The Treasurer must table a direction given under subsection (2) or paragraph (3)(b) in each House of the Parliament no later than 15 sitting days of that House after it is given.