Official bank accounts
27 Official bank accounts
The Treasurer must open an official bank account under the name
"Northern Territory Government Account" and may, as he or she thinks fit, open other official bank accounts.
An official bank account may only be opened under subsection (1) with an ADI.
A person shall not, except by the authority of the Treasurer, open an official bank account.
Except as otherwise provided by or under this or any other Act, all money shall be kept in an official bank account.
Overdraft accommodation shall not be granted on an official bank account except by the authority of the Treasurer.
All moneys collected or received by an employee of an Agency shall be paid daily, or at such other intervals of time as the
Treasurer directs, to the credit of the Northern Territory Government
Account or such other official bank account as the Treasurer directs.
Money received and paid into an official bank account that is later ascertained to be not so payable may, with the approval of an
Accountable Officer, be withdrawn from the official bank account and paid to the person lawfully entitled to it.
This section does not apply to a bank account opened and maintained as required under the NHFP Act.
This Act’s bill:Second reading speech
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