Hospital Foundations Act 2018

For each derivative transaction entered into by a foundation, the foundation must give the Minister a report about the transaction at the times—

stated in an approval under division 4; or

if no times are stated in an approval under division 4—prescribed by regulation.

Each report must contain the following information—

details sufficient to identify the derivative transaction;

a statement about the underlying exposure against which the foundation is trying to hedge;

the stated purpose of the derivative transaction, including details of the Minister’s approval under which the transaction was entered into and verification of compliance with the conditions of the approval;

details of any realised or unrealised gains or losses from the derivative transaction.

However, if a foundation satisfies the Minister that, because of the number of derivative transactions entered into by the foundation, it is an undue burden on it to prepare a report under subsection (2) for each transaction, the report for subsection (1) may be a statement summarising the matters mentioned in subsection (2) for all of the foundation’s derivative transactions.