Liability of department for borrowing fee
56 Liability of department for borrowing fee
This section applies if the Treasurer borrows amounts for the State and considers all or part of the amounts borrowed have been used by a department.
The Treasurer may, by notice given to the accountable officer of the department, declare the department liable for an amount (the borrowing fee).
The notice must state—
the amount of the borrowings the Treasurer considers have been used by the department; and
the borrowing fee for which the department is liable; and
the date by which the borrowing fee is to be paid to the Treasurer.
An accountable officer given a notice under subsection (2) must comply with the notice.
This Act’s bill:Explanatory memorandumSecond reading speech
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