12
CurrentFinancial management
Part 3Financial powers and relations of the Authority, semi‑government authorities and the Treasurer
12 Financial management
(1)
The Authority must, in the exercise and performance of its powers and functions, act in accordance with proper principles of financial management and, having regard to the nature of the captive insurance function of the Authority, with a view to avoiding a loss.
(2)
Any surplus of funds remaining after the costs of the Authority have been met in any financial year must be paid into the General Revenue of the State or otherwise dealt with as the Treasurer may determine.
(3)
Subsection (2) does not apply to funds related to the captive insurance function of the Authority.
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