49
In forceTreasury offset account
Part 3Consolidated fund and Treasurer’s responsibilities
Division 6Investment by Treasurer
49 Treasury offset account
(1)
The Treasurer must establish—
(a)
in the treasury department, an account called the ‘treasury offset account’ for recording transactions about the matters mentioned in section 50; and
(b)
at a financial institution, an account relating to the treasury offset account called the ‘treasury offset bank account’.
(2)
For this Act—
(a)
the treasury offset account is taken to be a departmental account; and
(b)
the treasury offset bank account is taken to be a departmental financial institution account.
This Act’s bill:Explanatory memorandumSecond reading speech
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