Public Finance and Audit Act 1987

In this Division—

financial arrangement means—

a contract or arrangement under which a semi-government authority immediately or prospectively—

borrows money or obtains any other form of financial accommodation;

or

obtains the use or benefit of any other property owned by another person; or

a contract or arrangement entered into by a semi-government authority for the purpose of—

managing, protecting against or reducing risks arising from changes in currency exchange rates, interest rates or discount rates or managing, protecting against or reducing any other financial risks; or

managing, obtaining or increasing financial returns from movements in currency exchange rates, interest rates or discount rates; or

a contract or arrangement entered into by a semi-government authority for any other purpose relating to its financial affairs that is of a kind declared by the Treasurer, by notice published in the Gazette, to be included in the ambit of this definition, but does not include a contract or arrangement of a kind excluded by the

Treasurer, by notice published in the Gazette, from the ambit of this definition;

guarantee includes a contract or arrangement of a prescribed kind;

semi-government authority means a body corporate—

that—

is constituted of a Minister of the Crown; or

has a governing body comprised of or including persons or a person appointed by the Governor or a Minister or other instrumentality of the Crown;

or

is financed wholly or in part out of public money;

and

that is declared by proclamation to be a semi-government authority for the purposes of this Act, but does not include a council constituted under the

Local Government

Act 1999.

A notice published by the Treasurer in the Gazette for the purposes of the definition of financial arrangement may be varied or revoked by the Treasurer by subsequent notice published in the

Gazette.

The Governor may, by proclamation, declare a body corporate to be a semi-government authority for the purposes of this

Act.

The Governor may, by proclamation, vary or revoke a declaration under subsection (2).