Periodic reports to Treasurer about derivative transactions—Act, s 55
12 Periodic reports to Treasurer about derivative transactions—Act, s 55
This section prescribes, for section 55(1) of the Act, when a statutory body must give the Treasurer a report about a derivative transaction.
If the duration of the derivative transaction is 90 days or more, the statutory body must give a report—
for the duration of the transaction—
at the end of a period, of not more than 3 months, decided by the Treasurer and stated in the Treasurer’s approval for the transaction; or
if subparagraph (i) does not apply—on the first day of each quarter; and
on the first day of the calendar month immediately after completion of the transaction.
However, if, under subsection (2)(a)(ii), the statutory body would be required to give a report on a day that is less than 14 days after the day the derivative transaction was entered into, the statutory body is not required to give the report.
If the duration of the derivative transaction is less than 90 days, the statutory body must give a report on the first day of the calendar month immediately after completion of the transaction.
In this section—
quarter means a period of 3 months starting on 1 January, 1 April, 1 July or 1 October.
Treasurer’s approval, for a derivative transaction, means the approval given by the Treasurer under part 9, division 2 or 3 of the Act for a statutory body to enter into the transaction.
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