Financial Accountability Act 2009

Subject to this Act, the Treasurer may—

if the balance of the Treasurer’s consolidated fund bank account and the departmental financial institution accounts is a net credit balance—

make an investment under subsection (4) based on the balance at the time of the investment; and

pay moneys out of the treasury offset bank account to make the investment; or

if the balance of the Treasurer’s consolidated fund bank account is a net credit balance—

make an investment under subsection (4) based on the balance at the time of the investment; and

pay moneys out of the Treasurer’s consolidated fund bank account to make the investment; or

if the balance in a departmental financial institution account is a net credit balance—

make an investment under subsection (4) based on the balance at the time of the investment; and

pay moneys out of the departmental financial institution account to make the investment.

However, if the balance of the Treasurer’s consolidated fund bank account and the departmental financial institution accounts is a net debit balance, the Treasurer may—

arrange with the Queensland Treasury Corporation to offset the net debit balance by paying moneys into the treasury offset bank account; and

pay all or part of the moneys mentioned in paragraph (a) from the treasury offset bank account into the Treasurer’s consolidated fund bank account.

If non-public moneys are held by or given to the Treasurer for investment or as security, the Treasurer may—

pay the non-public moneys into the treasury offset bank account; and

invest the non-public moneys and, for that purpose, pay moneys out of the treasury offset bank account.

For subsections (1) and (3), the Treasurer may make the following investments—

in securities of, guaranteed by, accepted by or endorsed by the Commonwealth or a State;

a loan to, investment in or financial arrangement with an entity authorised by an Act or law to borrow money from the Treasurer, on the security the Treasurer considers appropriate;

with, or on deposit with, a bank, or in securities of, guaranteed by, accepted by or endorsed by a bank;

with, or on deposit with, the Queensland Investment Corporation or the Queensland Treasury Corporation for investment in a fund of either of the corporations that the Treasurer considers appropriate;

in other securities approved by the Governor in Council;

by deposit on the security of any of the securities in which the Treasurer is permitted by this subsection to invest;

in other investments or financial arrangements approved by the Governor in Council.

However, if the Treasurer invests non-public moneys under subsection (3), moneys received from the investment are moneys payable to the person entitled to the non-public moneys despite section 51.