Government Sector Finance Regulation 2018 (NSW)

Does not include amendments by—

Government Sector Finance Amendment (Annual Reporting Requirements) Regulation 2023 (98), Sch 1[1], to the extent it inserts Part 3A, Div 5 (not commenced — to commence on 1.7.2024)

Cl 9J of this Regulation (cl 9J repeals Part 3A, Div 4 and Sch 2 at the beginning of 1.7.2024)

Part 1Preliminary1Name of Regulation

This Regulation is the Government Sector Finance Regulation 2018.

2Commencement(1)

This Regulation commences on 1 December 2018 and is required to be published on the NSW legislation website.

(2)

(Repealed)

cl 2: Am 2019 (257), Sch 1 [1].

3Definitions(1)

In this Regulation—

customer good means a good that was acquired or created by a GSF agency for the purpose of sale or resale to customers.

Teaching Service has the same meaning as in the Teaching Service Act 1980.

the Act means the Government Sector Finance Act 2018.

Note—

The Act and the Interpretation Act 1987 contain definitions and other provisions that affect the interpretation and application of this Regulation.

(2)

Notes included in this Regulation do not form part of this Regulation.

cl 3: Am 2019 (257), Sch 1 [2].

Part 2Key concepts4Prescribed GSF agencies—the Act, s 2.4(1)(l)(1)

The purpose of this clause is to prescribe certain entities as GSF agencies for the purposes of section 2.4 (1) (l) of the Act (whether generally or for specified provisions of the Act).

(2)

Each existing prescribed PAFA entity that is not already covered by section 2.4 (1) (a)–(k) of the Act is prescribed as a GSF agency only for the purposes of Divisions 6.4–6.6 of the Act.

(3)

Subclause (2) applies in relation to an existing prescribed PAFA entity that was prescribed as an authority or controlled entity for the purposes of certain provisions of the Public Authorities (Financial Arrangements) Act 1987 as follows—

• (a)

  if the entity was prescribed only for the purposes of Part 2A (Financial adjustments) of that Act—the entity is prescribed as a GSF agency only for the purposes of provisions that concern derivative arrangements,

• (b)

  if the entity was prescribed only for the purposes of Part 3 (Investments) of that Act—the entity is prescribed as a GSF agency only for the purposes of provisions that concern investments.

(4)

Each of the following entities is prescribed as a GSF agency only for the purposes of Part 7 of the Act—

• (a)

  the Statutory Trustee, or the Statutory Trustees, of a Fund (within the meaning of the Technical Education Trust Funds Act 1967),

• (b)

  the Border Fence Maintenance Board.

(4A)

(Repealed)

(5)

Subject to subclauses (2)–(4), each of the following entities is prescribed as a GSF agency for the purposes of the Act generally—

• (a)

  an entity not already covered by the Act, section 2.4(1)(a)–(k) that is specified in Schedule 3,

• (b)

  the FANMAC trustee within the meaning of Schedule 4 to the Housing Act 2001,

• (c)

  the Trustee of the Home Purchase Assistance Fund.

(6)

However, this clause does not operate to prescribe the following entities to be GSF agencies (whether generally or for specified provisions of the Act)—

• (a)

  the Teaching Service,

• (b)

  a university or the council or senate for a university.

(7)

In this clause—

existing prescribed PAFA entity means an entity that was prescribed as an authority or controlled entity in Schedule 1 to the Public Authorities (Financial Arrangements) Regulation 2013 immediately before its repeal, but does not include City West Housing Pty Limited.

cl 4: Am 2019 (257), Sch 1 [3]; 2020 (739), Sch 1[1]–[3]; 2021 (318), Sch 1[1] [2]; 2022 No 68, Sch 4.3[1] [2].

5ASeparate GSF agencies: section 2.5(1)(f) of Act

The Independent Planning Commission is prescribed as a separate GSF agency for the purposes of section 2.5(1)(f) the Act.

cl 5A: Ins 2020 (600), Sch 1.

5Accountable authority: section 2.7 (3) of Act

For the purposes of section 2.7 (3) of the Act, the Secretary of the Department of Planning and Environment is to be treated as the accountable authority for the corporation sole with the corporate name “Minister administering the Heritage Act 1977” incorporated under section 102 of the Heritage Act 1977.

cl 5: Am 2019 (257), Sch 1 [4]; 2023 No 35, Sch 4.15.

6Prescribed government officers—the Act, s 2.9(1)(e)(1)

For the purposes of the Act, section 2.9(1)(e), a person who is a member of a GSF agency or is appointed to or by or employed within the GSF agency is prescribed as a government officer, unless the person is referred to in the Act, section 2.9(2).

(2)

For the purposes of section 2.9 (1) (e) and (3) (b) of the Act, each person specified in Column 2 next to the GSF agency specified in Column 1 of the following Table is prescribed as a government officer of the agency—

Column 1	Column 2
GSF agency	Prescribed government officer
1	Department of Education	Each of the following is prescribed for the Department— (a) a member of the Teaching Service, (b) a person employed under the Education (School Administrative and Support Staff) Act 1987.
2	Department of Family and Community Services and Justice	Each of the following is prescribed for the Department— (a) the Advocate for Children and Young People appointed under the Advocate for Children and Young People Act 2014, (b) the Registrar appointed under section 10 of the Community Housing Providers (Adoption of National Law) Act 2012, (c) the Ageing and Disability Commissioner.
3	Department of Customer Service	A Workers Compensation Independent Review Officer.
3A	Department of Planning, Industry and Environment	The Valuer-General.
3B	Department of Regional NSW	Independent Biosecurity Commissioner under the Biosecurity Act 2015
4	NSW Self Insurance Corporation	A person authorised under an insurance services contract to exercise expenditure functions (regardless of whether the person is a party to that contract) is prescribed for the Corporation, but only in connection with the exercise of those functions that the person is authorised to exercise under the contract.
5	Office of the NSW State Emergency Service	Each of the following is prescribed for the Service— (a) a NSW State Emergency Service Local and Unit Commander (Volunteer role), (b) a NSW State Emergency Service Local and Unit Deputy Commander (Volunteer role), (c) during and for an operational event— (i) a State Duty Operations Controller, (ii) a Deputy State Duty Operations Controller, (iii) a State Logistics Officer, (iv) an Incident Controller (Zone or Area of Operations), (v) a Deputy Incident Controller (Zone or Area of Operations), (vi) a Logistics Officer (Zone or Area of Operations), (vii) a Unit Incident Officer, (viii) a Unit Logistics Officer.
6	Statutory health organisation	A person appointed under Chapter 8 of the Health Services Act 1997 as a visiting practitioner.
7	Transport for NSW	Each of the following is prescribed for Transport for NSW— (a) the Point to Point Transport Commissioner, (b) an employee of Serco Australia Pty Limited (ABN 44 003 677 352), but only in connection with the exercise of expenditure functions for or on behalf of Transport for NSW, (c) an employee of Cubic Transportation Systems (Australia) Pty Limited (ABN 82 003 617 561), but only in connection with the exercise of expenditure functions for or on behalf of Transport for NSW.

(3)

In this clause—

expenditure function means a function that is conferred or imposed on a person or other entity by or under the Act or any other legislation (including an annual Appropriation Act) regarding the expenditure of money (including out of the Consolidated Fund).

insurance services contract means an agreement or arrangement entered into by the NSW Self Insurance Corporation in accordance with section 8 (1) (b) of the NSW Self Insurance Corporation Act 2004.

statutory health organisation has the same meaning as in the Health Services Act 1997.

cl 6: Am 2019 (257), Sch 1 [5]–[8]; 2021 (318), Sch 1[3] [4]; 2023 No 56, Sch 2.2.

Part 2ARoles and responsibilities

pt 2A: Ins 2019 (257), Sch 1 [9].

6ATreasurer’s directions—the Act, s 3.1(1)(c)(1)

For the purposes of section 3.1 (1) (c) of the Act, the following matters are prescribed as kinds of matters for which the Treasurer’s directions are authorised to make provision—

• (a)

  the establishment and operation of securities and their registries by GSF agencies in respect of securities they issue (including the inspection of those registries),

• (b)

  the surrender, transfer, exchange and transmission of securities by GSF agencies in respect of securities they issue,

• (c)

  the purchase of securities issued by GSF agencies,

• (d)

  the making of payments (including interest payments) by GSF agencies in respect of securities they issue,

• (e)

  the form of securities issued by GSF agencies,

• (f)

  the making of payments by a GSF agency to the suppliers of goods and services to the GSF agency, including—

  • (i)

    the period within which payments must be made to suppliers, and

  • (ii)

    if payment is not made within the required period, the payment of penalty interest to suppliers.

(2)

In this clause—

security includes an inscribed stock, debenture, promissory note or bank bill of exchange.

cl 6A: Ins 2019 (257), Sch 1 [9]. Am 2021 (318), Sch 1[5] [6].

6AA

(Repealed)

cl 6AA: Ins 2020 (739), Sch 1[4]. Rep 2022 No 68, Sch 4.3[3].

Part 3Financial services and arrangements7Definitions

In this Part—

bank guarantee means an arrangement under which an entity that provides finance (the guarantor) undertakes either of the following in relation to another entity (the guarantee recipient)—

• (a)

  to guarantee to a third party the performance of an obligation by the guarantee recipient,

• (b)

  to pay a third party on demand by the guarantee recipient.

operating or finance lease arrangement means an arrangement under which an entity (the lessor) grants another entity (the lessee) for value—

• (a)

  a right for the lessee to use an asset (other than land) of the lessor for a specified period, and

• (b)

  any entitlements to the risks and rewards resulting from the use of the asset.

social benefit bond means an arrangement created by an instrument under which any financial return is made contingent on the achievement of specified social outcomes.

supplier finance arrangement means an agreement between parties under which—

• (a)

  one party (the finance provider) assumes the liability of the other party (the finance recipient) for the payment of invoices from suppliers for the finance recipient, and

• (b)

  the finance recipient has an obligation to repay the finance provider for any amounts paid (including interest or an amount in the form of interest).

8Prescribed borrowings: section 6.8 (1) (c) of Act

For the purposes of section 6.8 (1) (c) of the Act, each of the following arrangements is prescribed as a borrowing—

• (a)

  issuing a social benefit bond,

• (b)

  becoming a guarantee recipient under a bank guarantee,

• (c)

  becoming a finance recipient under a supplier finance arrangement,

• (d)

  becoming a lessee under an operating or finance lease arrangement.

9Prescribed investment: section 6.9 (1) (b) of Act

For the purposes of section 6.9 (1) (b) of the Act, each of the following arrangements is prescribed as an investment—

• (a)

  purchasing a social benefit bond,

• (b)

  depositing money in a banking account even if it is not primarily for the purpose or with the expectation of producing income, interest, profit, capital growth or any other financial benefit.

Part 3AReporting GSF agenciesDivision 1Reporting exemption criteria

pt 3A, div 1 (cl 9A): Ins 2021 (160), cl 3.

9APrescribed reporting exemption criteria—section 7.3(4)(a) of Act

For the purposes of section 7.3(4)(a) of the Act, the following are the prescribed reporting exemption criteria for use in determining whether kinds of GSF agencies should be excluded from the definition of reporting GSF agency—

• (a)

  whether there are users of information contained in the annual GSF financial statements for the kind of GSF agency,

• (b)

  whether the kind of GSF agency is subject to the direction and control of a responsible Minister or another GSF agency,

• (c)

  whether the financial position and financial performance of the kind of GSF agency are consolidated within the financial statements of another GSF agency,

• (d)

  whether the kind of GSF agency does not generally hold cash or cash equivalents.

pt 3A, div 1 (cl 9A): Ins 2021 (160), cl 3.

Division 2Excluded GSF agencies

pt 3A, div 2: Ins 2021 (319), Sch 1.

9BCertain GSF agencies not to be reporting GSF agency—the Act, s 7.3(2)

The purpose of this Division is to prescribe certain kinds of GSF agencies not to be a reporting GSF agency for the purposes of the Act, section 7.3(2).

cl 9B: Ins 2021 (319), Sch 1.

9CDefinitions

In this Division—

assets, commitments, contingent liabilities, expenses, income and liabilities have the same meanings as in the Australian Accounting Standards.

common trust means a trust established under the Commons Management Act 1989, section 4(1).

Crown land manager has the same meaning as in the Crown Land Management Act 2016.

relevant transaction means a transaction, approved or directed by the Premier or Treasurer or other Minister, for the sale, lease, assignment, transfer or other disposal of assets or liabilities of the State to a non-government sector entity.

retained State interest, in relation to a relevant transaction, means an interest or right in or related to an asset or liability disposed of under a relevant transaction that is held by or on behalf of the State as a consequence of the transaction.

cl 9C: Ins 2021 (319), Sch 1. Am 2023 (298), Sch 1[1].

9DSmall agencies

A GSF agency meeting all of the following requirements is prescribed—

• (a)

  the assets, liabilities, income, expenses, commitments and contingent liabilities of the agency are each less than $5,000,000,

• (b)

  the total cash or cash equivalents held by the agency is less than $2,500,000,

• (c)

  at least 95% of the agency’s income is derived from money paid out of the Consolidated Fund or money provided by other GSF agencies,

• (d)

  the agency does not administer legislation for a Minister by or under which members of the public are regulated.

cl 9D: Ins 2021 (319), Sch 1.

9ECrown land managers(1)

A GSF agency meeting all of the following requirements is prescribed—

• (a)

  the agency is a Crown land manager,

• (b)

  the requirements referred to in clause 9D(a), (b) and (d),

• (c)

  the income of the agency, derived from sources other than money paid out of the Consolidated Fund, money paid out of the Crown Reserves Improvement Fund or money provided by other GSF agencies, is less than $100,000.

(2)

In this clause—

Crown Reserves Improvement Fund means the Crown Reserves Improvement Fund established under the Crown Land Management Act 2016, Division 12.5.

cl 9E: Ins 2021 (319), Sch 1. Am 2023 (298), Sch 1[2] [3].

9EACommon trusts(1)

A GSF agency meeting all of the following requirements is prescribed—

• (a)

  the agency is a common trust,

• (b)

  the requirements referred to in clause 9D(a), (b) and (d),

• (c)

  the income of the agency, derived from sources other than money paid out of the Consolidated Fund or money provided by other GSF agencies, is less than $100,000.

cl 9EA: Ins 2023 (298), Sch 1[4].

9FSpecial purpose staff agencies

A GSF agency that comprises solely of persons who are employed to enable another particular GSF agency to exercise its functions is prescribed.

cl 9F: Ins 2021 (319), Sch 1.

9GRetained State interests

A GSF agency meeting all of the following requirements is prescribed—

• (a)

  the sole purpose of the agency (the first agency) is to hold and manage retained State interests arising from a particular relevant transaction, and all of its activities relate to that purpose,

• (b)

  the first agency’s financial position and financial performance are consolidated within the financial statements of another GSF agency (the second agency),

• (c)

  the first agency and the second agency each has the same accountable authority,

• (d)

  if there is another GSF agency that is also a controlled entity of the second agency, the first agency and the controlled entity have the same sole purpose.

cl 9G: Ins 2021 (319), Sch 1.

Division 3Financial reporting exemption criteria

pt 3A, div 3: Ins 2023 (98), Sch 1[1].

9HFinancial reporting exemption criteria—the Act, s 7.8(3)

For the Act, section 7.8(3), the following are the prescribed reporting exemption criteria for the purposes of determining whether to give a direction that an SDA account, or SDA account of a kind, should be exempted from the operation of the Act, section 7.8—

• (a)

  whether there are users of information contained in the financial reports for the SDA account or kind of SDA account,

• (b)

  whether the SDA account or kind of SDA account is subject to the direction and control of a responsible Minister or GSF agency,

• (c)

  whether the financial position and financial performance of the SDA account or kind of SDA account are—

  • (i)

    consolidated within the financial statements of a GSF agency, or

  • (ii)

    disclosed as administered activities by a GSF agency in the notes to the financial statements of the GSF agency.

cl 9H: Ins 2023 (98), Sch 1[1].

Division 4Excluded reporting GSF agencies

pt 3A, div 4: Ins 2023 (98), Sch 1[1].

9IExcluded reporting GSF agencies—the Act, s 7.10(3)(1)

For the Act, section 7.10(3), the Act, Part 7, Division 7.3 does not apply to a reporting GSF agency other than a transitional reporting GSF agency.

(2)

In this clause—

transitional reporting GSF agency means a reporting GSF agency specified in Schedule 2, Part 1 or Part 2.

cl 9I: Ins 2023 (98), Sch 1[1].

9JRepeal of Division and Schedule 2

This Division and Schedule 2 are repealed at the beginning of 1 July 2024.

cl 9J: Ins 2023 (98), Sch 1[1].

Part 4Delegations10ADefinition

In this Part—

expenditure function of a Minister in relation to an entity means a function that is conferred or imposed on the Minister by or under the Act or any other legislation, including an annual Appropriation Act, regarding the expenditure of money, including out of the Consolidated Fund, in relation to the entity.

cl 10A: Ins 2021 (159), Sch 1[1].

10Prescribed delegates and subdelegates for Judicial Commission of New South Wales(1)

The purpose of this clause is to enable certain delegations and subdelegations in relation to the Judicial Commission of New South Wales to be made to members of staff of the Commission even though they are not government officers.

Note—

Section 2.9 (2) (e) of the Act provides that a government officer does not include a member of the staff of the Judicial Commission of New South Wales employed under the Judicial Officers Act 1986.

(2)

For the purposes of paragraph (b) of item 3 of the Table to section 9.9 (5) of the Act, a member of staff of the Judicial Commission of New South Wales is prescribed as an entity to which the accountable authority for the Commission may subdelegate.

(3)

For the purposes of section 9.11 (1) (b) of the Act, a member of staff of the Judicial Commission of New South Wales is prescribed as an entity to which the accountable authority for the Commission may delegate.

(4)

For the purposes of item 2 of the Table to section 9.11 (4) of the Act, a member of staff of the Judicial Commission of New South Wales is prescribed as an entity to which a delegate prescribed by subclause (3) may subdelegate.

11Prescribed delegates and subdelegates for transport GSF agencies(1)

The purpose of this clause is to enable certain delegations and subdelegations to be made in relation to a transport GSF agency to a member of the Transport Service of New South Wales even if the member is not a government officer of the agency concerned.

Note—

Division 9.2 of the Act already makes provision for delegations and subdelegations to be made to persons who are government officers for a transport GSF agency.

(2)

For the purposes of section 9.9 (2) (f) of the Act, a member of the Transport Service of New South Wales who is not a government officer of a transport GSF agency for which the Minister is the responsible Minister is prescribed as an entity to which a Minister may delegate.

(3)

For the purposes of paragraph (b) of item 4 of the Table to section 9.9 (5) of the Act, a member of the Transport Service of New South Wales who is not a government officer of a transport GSF agency is prescribed as an entity to which the accountable authority for that agency may subdelegate.

(4)

For the purposes of paragraph (b) of item 6 of the Table to section 9.9 (5) of the Act, a member of the Transport Service of New South Wales who is not a government officer of a transport GSF agency is prescribed as an entity to which a government officer of that agency may subdelegate.

(5)

For the purposes of section 9.11 (1) (b) of the Act, a member of the Transport Service of New South Wales who is not a government officer of a transport GSF agency is prescribed as an entity to which the accountable authority for that agency may delegate.

(6)

For the purposes of paragraph (b) of item 1 of the Table to section 9.11 (4) of the Act, a member of the Transport Service of New South Wales who is not a government officer of the agency concerned is prescribed as an entity to which a government officer of the agency may subdelegate.

(7)

In this clause—

transport GSF agency means—

• (a)

  a transport authority within the meaning of Part 6B of the Transport Administration Act 1988, or

• (b)

  a public subsidiary corporation within the meaning of section 55C of that Act.

11APrescribed delegates for Premier

For the purposes of section 9.9(2)(f) of the Act, a person employed under Part 2 of the Members of Parliament Staff Act 2013 is prescribed as an entity to which the Premier may delegate.

cl 11A: Ins 2020 (739), Sch 1[5].

11B

(Repealed)

cl 11B: Ins 2020 (739), Sch 1[5]. Rep 2022 No 68, Sch 4.3[4].

11CPrescribed subdelegate for delegated expenditure functions in relation to New South Wales Electoral Commission

For the purposes of section 9.9(5), table, item 3, paragraph (b) of the Act, the Electoral Commissioner is prescribed as an entity to which the accountable authority for the New South Wales Electoral Commission (the Commission) may subdelegate an expenditure function of a Minister in relation to the Commission.

cll 11C–11F: Ins 2021 (159), Sch 1[2].

11DPrescribed subdelegates for delegated expenditure functions in relation to Independent Commission Against Corruption

For the purposes of section 9.9(5), table, item 3, paragraph (b) of the Act, a Commissioner of the Independent Commission Against Corruption (the Commission) is prescribed as an entity to which the accountable authority for the Commission may subdelegate an expenditure function of a Minister in relation to the Commission.

cll 11C–11F: Ins 2021 (159), Sch 1[2].

11EPrescribed delegate for delegated expenditure functions in relation to Inspector of the Independent Commission Against Corruption

For the purposes of section 9.9(2)(f) of the Act, the Inspector of the Independent Commission Against Corruption (the Inspector) is prescribed as an entity to which a Minister may delegate an expenditure function of the Minister in relation to the Inspector.

cll 11C–11F: Ins 2021 (159), Sch 1[2].

11FPrescribed delegates and subdelegates for delegated expenditure functions in relation to Law Enforcement Conduct Commission(1)

For the purposes of section 9.9(2)(f) of the Act, a Commissioner of the Law Enforcement Conduct Commission (the Commission) is prescribed as an entity to which a Minister may delegate an expenditure function of the Minister in relation to the Commission.

(2)

For the purposes of section 9.9(5), table, item 4, paragraph (b) of the Act, a Commissioner of the Commission is prescribed as an entity to which the accountable authority for the Commission may subdelegate an expenditure function of a Minister in relation to the Commission.

cll 11C–11F: Ins 2021 (159), Sch 1[2].

12Prescribed subdelegates for delegated expenditure functions of Planning Minister(1)

(Repealed)

(2)

For the purposes of the following provisions of the Table to section 9.9 (5) of the Act, the Planning Secretary and Planning government officers are prescribed as entities to which a delegate of the Planning Minister may subdelegate an expenditure function of the Minister—

• (a)

  paragraph (d) of item 1,

• (b)

  paragraph (c) of item 2,

• (c)

  paragraph (b) of item 4,

• (d)

  paragraph (c) of item 5,

• (e)

  paragraph (b) of item 6.

(3)

In this clause—

expenditure function of the Planning Minister means a function that is conferred or imposed on the Planning Minister by or under the Act or any other legislation (including an annual Appropriation Act) regarding the expenditure of money (including out of the Consolidated Fund).

Planning Minister means the Minister for Planning and Public Spaces.

Planning Secretary means the Secretary of the Department of Planning, Industry and Environment.

Planning government officer means a government officer of the Department of Planning, Industry and Environment.

cl 12: Am 2019 (257), Sch 1 [10] [11].

Part 5Budget, appropriations and Special Deposits Account

pt 5: Ins 2019 (257), Sch 1 [12].

12AConsumer price adjustments for payments authorised on lapse of appropriation—section 4.10 of Act(1)

The purpose of this clause is to provide for the purposes of section 4.10(4)(a) of the Act for the adjustment for consumer prices in an annual reporting period for the NSW Government (the current period) of the amount appropriated under the annual Appropriation Act (the previous appropriated amount) for the previous annual reporting period (the previous period).

(2)

The previous appropriated amount is to be adjusted by whichever of the following percentages is the greater—

• (a)

  the percentage change in the Consumer Price Index (All Groups Index) for Sydney published by the Australian Bureau of Statistics between the March quarter immediately before the commencement of the current period compared with the March quarter immediately before the commencement of the previous period,

• (b)

  the percentage (as at 31 March immediately before the commencement of the current period) declared by a regulation made for the purposes of section 146C of the Industrial Relations Act 1996 to be government policy in respect of the maximum percentage for increases in the remuneration of public sector employees.

cl 12A: Ins 2020 No 6, Sch 1.2.

13Deemed appropriations—the Act, s 4.7(1)

Each of the following kinds of government money received or recovered by a GSF agency is prescribed to be deemed appropriation money for the purposes of the definition of deemed appropriation money in section 4.7 (3) of the Act—

• (a)

  money from a fee, rent or charge for a service or customer good provided by the GSF agency to a customer, including—

  • (i)

    money from a surcharge charged for the use of a credit card to pay for a supplied service or good, and

  • (ii)

    money from interest or a charge paid for any overdue fee, rent or charge for a supplied service or good,

• (b)

  money from a bequest, donation, sponsorship or gift made to the GSF agency by another entity, including money allocated to the GSF agency under clause 63 of the Legal Profession Uniform Law Application Regulation 2015,

• (c)

  money from the proceeds of a sale or other disposal by the GSF agency of a minor asset,

• (d)

  money paid to the GSF agency from the Treasury Managed Fund or by an insurer, including—

  • (i)

    any repayment to the agency of some or all of a contribution or premium paid to the Fund or an insurer, and

  • (ii)

    any payments made by MetLife Insurance Limited in full or partial settlement of any entitlement of a police officer in respect of injuries or other loss sustained by the officer,

• (e)

  money paid to the GSF agency as compensation under a judgment of a court or tribunal or in a settlement of proceedings for compensation, including any interest payable on the amount of compensation,

• (f)

  money from a Commonwealth grant or other payment (except a general purpose Commonwealth grant) paid to the GSF agency for its benefit,

• (g)

  money from returns on investments and derivative arrangements made by or on behalf of the GSF agency, including—

  • (i)

    interest received by the agency from a banking account of the agency, and

  • (ii)

    interest payments made to the agency by the Treasury instead of interest received by the agency from a banking account of the agency as a result of the operation of banking account structuring under a State financial service agreement, and

  • (iii)

    interest from a loan made by or on behalf of the agency,

• (h)

  money from a grant, contribution or subsidy provided to the GSF agency to cover some or all of the cost of a service or good the agency is responsible for providing,

• (i)

  money from a refund or rebate received or recovered by the GSF agency in respect of a purchase made by the agency.

(2)

Subclause (1) (d), (e), (f) and (h) apply regardless of whether the money concerned was paid to the GSF agency for its own benefit or for the benefit of another entity.

(3)

An appropriation under section 4.7 of the Act of money of the kind referred to in subclause (1) (h) is subject to the condition that it may only be spent in accordance with any terms or conditions applicable to the grant, contribution or subsidy concerned.

(4)

The kinds of government money prescribed by this clause extend to government money that was received or recovered before the commencement of section 4.7 of the Act.

(5)

An appropriation under the Act, section 4.7 of government money is taken to have been given—

• (a)

  for money received or recovered before the commencement of the Act, section 4.7 in respect of which expenditure occurred before that commencement—on the day the money was received or recovered, and

• (b)

  for money received or recovered after the commencement of the Act, section 4.7—on the day the money was received or recovered, and

• (c)

  otherwise—on the day which the Act, section 4.7 commenced.

(6)

(Repealed)

(7)

In this clause—

minor asset means an asset with an acquisition cost of less than $200,000, but does not include—

• (a)

  a customer good, or

• (b)

  a building (or an interest in land or a building).

cl 13: Ins 2019 (257), Sch 1 [12]. Am 2023 (298), Sch 1[5]–[7].

14Working accounts: section 4.17 of Act(1)

For the purposes of section 4.17 of the Act, a GSF agency may establish and operate a working account only if—

• (a)

  the accountable authority for the agency applies to the Treasurer in a form approved by the Treasurer for authorisation to establish and operate the account, and

• (b)

  the Treasurer gives written authorisation for the account to be established and operated.

(2)

Without limiting subclause (1) (b), the written authorisation may specify—

• (a)

  the kinds of working account money that may be paid into the working account, and

• (b)

  the purposes for which money may be paid out of the working account, and

• (c)

  the use of investment returns on the money in the working account, and

• (d)

  any other terms or conditions relating to the establishment or operation of the working account.

(3)

The Treasurer may, by written order given to the accountable authority for a GSF agency, direct that—

• (a)

  the working account specified in the order is to be dissolved, and

• (b)

  money in the account is to be paid into the Consolidated Fund or into another specified working account of a GSF agency.

(4)

Each of the following sources of money received by a GSF agency is prescribed for the purposes of the definition of working account money in section 4.17 (2) of the Act (regardless of whether or not it is also deemed appropriation money for the purposes of section 4.7 of the Act)—

• (a)

  money from a fee, rent or charge for a service or customer good provided by the GSF agency to a customer, including—

  • (i)

    money from a surcharge charged for the use of a credit card to pay for a supplied service or good, and

  • (ii)

    money from interest or a charge paid for any overdue fee, rent or charge for a supplied service or good,

• (b)

  money from rent for land or a building paid to the GSF agency by another entity for a lease the other entity has over the land or building,

• (c)

  money from a bequest, donation, sponsorship or gift made to the GSF agency by another entity, including money allocated to the GSF agency under clause 63 of the Legal Profession Uniform Law Application Regulation 2015,

• (d)

  money from the proceeds of a sale or other disposal by the GSF agency of an asset unless legislation (other than the Act or the Constitution Act 1902) specifically requires the money to be paid into the Consolidated Fund,

• (e)

  money paid to the GSF agency from the Treasury Managed Fund or by an insurer, including—

  • (i)

    any repayment to the agency of some or all of a contribution or premium paid to the Fund or an insurer, and

  • (ii)

    any payments made by MetLife Insurance Limited in full or partial settlement of any entitlement of a police officer in respect of injuries or other loss sustained by the officer,

• (f)

  money paid to the GSF agency as compensation under a judgment of a court or tribunal or in a settlement of proceedings for compensation, including any interest payable on the amount of compensation,

• (g)

  money from a Commonwealth grant or other payment (except a general purpose Commonwealth grant) paid to the GSF agency for its benefit,

• (h)

  money from returns on investments and derivative arrangements made by or on behalf of the GSF agency, including—

  • (i)

    interest received by the agency from a banking account of the agency, and

  • (ii)

    interest payments made to the agency by the Treasury instead of interest received by the agency from a banking account of the agency as a result of the operation of banking account structuring under a State financial service agreement, and

  • (iii)

    interest from a loan made by or on behalf of the agency,

• (i)

  money from a grant, contribution or subsidy provided to the GSF agency to cover some or all of the cost of a service or good the agency is responsible for providing,

• (j)

  money from a refund or rebate received or recovered by the GSF agency in respect of a purchase made by the agency,

• (k)

  money from a loan provided to the GSF agency under a financial arrangement that is authorised for the purposes of section 6.22 of the Act,

• (l)

  money directed to be paid into the working account concerned in an order made by the Treasurer under subclause (3).

Note—

The fact that money is prescribed to be working account money does not mean that it must be paid into a working account. Section 4.17 (1) of the Act provides that a GSF agency may establish and operate a working account in the circumstances permitted by the regulations.

(5)

Subclause (4) (b), (e), (f), (g) and (i) apply regardless of whether the money concerned was paid to the GSF agency for its own benefit or for the benefit of another entity.

(6)

To avoid doubt, subclause (4) covers money that is received from any other entity (including another GSF agency).

cl 14: Ins 2019 (257), Sch 1 [12].

Part 6Expenditure and gifts

pt 6 (cll 15, 16): Ins 2019 (257), Sch 1 [12].

15Relevant tax-equivalent regimes: section 5.3 (5) of Act(1)

For the purposes of the definition of relevant tax-equivalent regime in section 5.3 (5) of the Act, the National tax-equivalent regime and State tax-equivalent regime are prescribed.

(2)

The National tax-equivalent regime means the arrangements between the Commonwealth and the States and Territories relating to income tax equivalent payments to be made by government businesses under a National Tax Equivalent Regime, as referred to in Schedule B to the Intergovernmental Agreement and given effect to from time to time by a memorandum of understanding between the Commonwealth, the Commissioner of Taxation of the Commonwealth and the States and Territories.

(3)

The State tax-equivalent regime means the arrangements approved from time to time by the Treasurer relating to income tax equivalent payments to be made by government businesses that are not subject to the National tax-equivalent regime.

(4)

In this section—

Intergovernmental Agreement means the Intergovernmental Agreement on Federal Financial Relations entered into by the parties to the Council of Australian Governments, as in force from time to time.

pt 6 (cll 15, 16): Ins 2019 (257), Sch 1 [12].

16Act of grace payments: section 5.7 (4) (c) of Act

Each of the following is prescribed for the purposes of section 5.7 (4) (c) of the Act—

• (a)

  any person employed in or by the NSW Health Service,

• (b)

  any member of the NSW Police Force.

pt 6 (cll 15, 16): Ins 2019 (257), Sch 1 [12].

Part 717–20

(Repealed)

pt 7: Ins 2021 (320), Sch 2[1]. Rep 2018 (685), cl 20.

cl 17: Ins 2021 (320), Sch 2[1]. Rep 2018 (685), cl 20.

cl 18: Ins 2021 (320), Sch 2[1]. Rep 2018 (685), cl 20.

cl 19: Ins 2021 (320), Sch 2[1]. Rep 2018 (685), cl 20.

cl 20: Ins 2021 (320), Sch 2[1]. Rep 2018 (685), cl 20.

Schedule 1

(Repealed)

sch 1: Rep 2018 (685), cl 2 (2). Ins 2020 (642), cl 3. Rep 2018 (685), Sch 1.

Schedule 2Transitional reporting GSF agencies

clause 9I(2)

Part 1Statutory bodies

Aboriginal and Torres Strait Islander Health Practice Council

Aboriginal Housing Office

Agricultural industry services committee constituted by the Agricultural Industry Services Act 1998

Art Gallery of New South Wales Trust

Audit Office of New South Wales

Australian Museum Trust

Biodiversity Conservation Trust

Board of Surveying and Spatial Information

Board of Trustees of the Western Sydney University

Border Fence Maintenance Board

Building Insurers’ Guarantee Corporation

Cemeteries and Crematoria NSW

Centennial Park and Moore Park Trust

Chief Investigator of the Office of Transport Safety Investigations

Chinese Medicine Council of New South Wales

Chiropractic Council of New South Wales

Cobar Water Board

A corporation constituted by the Electricity Retained Interest Corporations Act 2015

A corporation constituted by the Growth Centres (Development Corporations) Act 1974

Council of the Charles Sturt University

Council of the Macquarie University

Council of the Southern Cross University

Council of the University of New England

Council of the University of New South Wales

Council of the University of Newcastle

Council of the University of Technology Sydney

Council of the University of Wollongong

Dams Safety NSW

Dental Council of New South Wales

Destination NSW

Energy Corporation of NSW

Environment Protection Authority

Environmental Trust

Essential Energy

Forestry Corporation of NSW

Greater Sydney Parklands Trust

Health Care Complaints Commission

Heritage Council of New South Wales

Hunter Water Corporation

Independent Liquor and Gaming Authority

Independent Pricing and Regulatory Tribunal

Independent Review Officer

Infrastructure NSW

Insurance and Care NSW

Jenolan Caves Reserve Trust

Landcom

Legal Aid Commission of New South Wales

Legal Profession Admission Board constituted under the Legal Profession Uniform Law Application Act 2014

Liability Management Ministerial Corporation

Library Council of New South Wales

Lifetime Care and Support Authority of New South Wales

Local Land Services

Long Service Corporation

Lord Howe Island Board

Luna Park Reserve Trust

Medical Council of New South Wales

Medical Radiation Practice Council of New South Wales

Mental Health Commission

Multicultural NSW

Museums of History NSW

Natural Resources Commission

New South Wales Electoral Commission

New South Wales Government Telecommunications Authority

New South Wales Institute of Sport

New South Wales Land and Housing Corporation

New South Wales Rural Assistance Authority

New South Wales Treasury Corporation

NSW Architects Registration Board

NSW Education Standards Authority

NSW Food Authority

NSW Independent Casino Commission

NSW Self Insurance Corporation

NSW Skills Board

NSW Trains

NSW Trustee and Guardian

Nursing and Midwifery Council of New South Wales

Occupational Therapy Council of New South Wales

Optometry Council of New South Wales

Osteopathy Council of New South Wales

Paramedicine Council of New South Wales

Parramatta Park Trust

Pharmacy Council of New South Wales

Physiotherapy Council of New South Wales

Place Management NSW

Podiatry Council of New South Wales

Port Authority of NSW

Property and Development NSW

Psychology Council of New South Wales

Rental Bond Board

Rice Marketing Board constituted under the Rice Marketing Act 1983

Royal Botanic Gardens and Domain Trust

SAS Trustee Corporation

Senate of the University of Sydney

Sporting Injuries Compensation Authority

State Insurance Regulatory Authority

State Records Authority NSW

State Sporting Venues Authority

State Transit Authority of New South Wales

Statutory Trustees or a Statutory Trustee of a Fund within the meaning of the Technical Education Trust Funds Act 1967

Sydney Ferries

Sydney Metro

Sydney Olympic Park Authority

Sydney Opera House Trust

Sydney Trains

Sydney Water Corporation

Teacher Housing Authority of New South Wales

Technical and Further Education Commission

Transport Asset Holding Entity of New South Wales

Transport for NSW

The Trustees of the Anzac Memorial Building

The Trustees of the Museum of Applied Arts and Sciences

The Trustees of the Parliamentary Contributory Superannuation Fund

Venues NSW

Veterinary Practitioners Board

Waste Assets Management Corporation

Water NSW

Wentworth Park Sporting Complex Land Manager constituted under the Crown Land Management Act 2016

Western Parkland City Authority

Western Sydney Parklands Trust

Workers Compensation (Dust Diseases) Authority

Zoological Parks Board of New South Wales

Part 2Departments and other agencies

Office of the Ageing and Disability Commissioner

Office of the Children’s Guardian

Department of Communities and Justice

Crown Solicitor’s Office

Department of Customer Service

Office of the Director of Public Prosecutions

Dumaresq-Barwon Border Rivers Commission

Department of Education

Department of Enterprise, Investment and Trade

Fire and Rescue NSW

Greyhound Welfare and Integrity Commission

Ministry of Health

Independent Commission Against Corruption

Office of the Independent Planning Commission

Information and Privacy Commission

Judicial Commission

Law Enforcement Conduct Commission

New South Wales Crime Commission

NSW Police Force

NSW Reconstruction Authority

Office of the NSW Rural Fire Service

Office of the NSW State Emergency Service

Ombudsman’s Office

Parliamentary Counsel’s Office

Department of Planning and Environment

Department of Premier and Cabinet

Public Service Commission

Department of Regional NSW

Service NSW

Office of Sport

Department of Transport

Treasury

sch 2: Ins 2021 (320), Sch 2[2]. Am 2021 (575), sec 3(1) (2); 2022 (224), sec 3(1)–(3); 2022 (495), sec 3; 2022 No 68, Sch 4.3[5]. Rep 2018 (685), cl 20. Ins 2023 (98), Sch 1[2]. Am 2023 No 52, Sch 2.2; 2024 No 27, Sch 2.6.

Schedule 3GSF agencies

clause 4(5)(a)

Agricultural industry services committee constituted by the Agricultural Industry Services Act 1998

C. B. Alexander Foundation

Legal Profession Admission Board constituted under the Legal Profession Uniform Law Application Act 2014

Liability Management Ministerial Corporation constituted under the General Government Liability Management Fund Act 2002

Library Council of New South Wales

Luna Park Reserve Trust

Mental Health Commission

Natural Resources Commission

NSW Architects Registration Board

Office of Transport Safety Investigations

Rice Marketing Board constituted under the Rice Marketing Act 1983

The Trustees of the Anzac Memorial Building

The Trustees of the Museum of Applied Arts and Sciences

The Trustees of the Parliamentary Contributory Superannuation Fund

Wentworth Park Sporting Complex Land Manager constituted under the Crown Land Management Act 2016

Veterinary Practitioners Board

sch 3: Ins 2021 (318), Sch 1[7].

Historical notesTable of amending instruments

Government Sector Finance Regulation 2018 (685). LW 30.11.2018. Date of commencement, 1.12.2018, cl 2 (1). This Regulation has been amended by cll 2 (2) and 20 and Schedule 1, cl 3 of this Regulation and as follows—

2019	(257)	Government Sector Finance Amendment Regulation 2019. LW 21.6.2019. Date of commencement, 1.7.2019, cl 2.
2020	No 6	COVID-19 Legislation Amendment (Emergency Measures—Treasurer) Act 2020. Assented to 14.5.2020. Date of commencement, assent, sec 2.
(600)	Government Sector Finance Amendment (Independent Planning Commission) Regulation 2020. LW 9.10.2020. Date of commencement, on publication on LW, cl 2.
(642)	Government Sector Finance Amendment (Reporting Deadlines) Regulation 2020. LW 30.10.2020. Date of commencement, on publication on LW, cl 2.
(739)	Government Sector Finance Amendment Regulation 2020. LW 18.12.2020. Date of commencement, on publication on LW, cl 2.
2021	(159)	Government Sector Finance Amendment (Delegations) Regulation 2021. LW 1.4.2021. Date of commencement, on publication on LW, cl 2.
(160)	Government Sector Finance Amendment (Prescribed Reporting Exemption Criteria) Regulation 2021. LW 1.4.2021. Date of commencement, 1.5.21, cl 2.
(318)	Government Sector Finance Amendment (Miscellaneous) Regulation 2021. LW 25.6.2021. Date of commencement, 1.7.2021, cl 2.
(319)	Government Sector Finance Amendment (Reporting GSF Agency Exclusions) Regulation 2021. LW 25.6.2021. Date of commencement, 1.7.2021, cl 2.
(320)	Government Sector Finance Amendment (Transitional) Regulation 2021. LW 25.6.2021. Date of commencement, 1.7.2021, cl 2.
(575)	Government Sector Finance Amendment (Statutory Bodies) Regulation 2021. LW 1.10.2021. Date of commencement, on publication on LW, sec 2.
2022	(224)	Government Sector Finance Amendment (Annual Reporting Requirements) Regulation 2022. LW 20.5.2022. Date of commencement, on publication on LW, sec 2.
(495)	Government Sector Finance Amendment (Departments) Regulation 2022. LW 26.8.2022. Date of commencement, on publication on LW, sec 2.
No 68	Aboriginal Land Rights Amendment Act 2022. Assented to 25.11.2022. Date of commencement of Sch 4.3, assent, sec 2(b).
2023	(98)	Government Sector Finance Amendment (Annual Reporting Requirements) Regulation 2023. LW 2.3.2023. Date of commencement of Sch 1[1], except to the extent it inserts Part 3A, Div 5, and [2], 1.7.2023, sec 2(b); date of commencement of Sch 1[1] to the extent it inserts Part 3A, Div 5: not in force.
(298)	Government Sector Finance Amendment (Deemed Appropriations) Regulation 2023. LW 16.6.2023. Date of commencement, on publication on LW, sec 2.
No 35	Statute Law (Miscellaneous Provisions) Act (No 2) 2023. Assented to 30.10.2023. Date of commencement of Sch 4, assent, sec 2(c).
No 52	Greater Cities Commission Repeal Act 2023. Assented to 12.12.2023. Date of commencement, 1.1.2024, sec 2.
No 56	Biosecurity Amendment (Independent Biosecurity Commissioner) Act 2023. Assented to 12.12.2023. Date of commencement, assent, sec 2.
2024	No 27	Property NSW Amendment Act 2024. Assented to 31.5.2024. Date of commencement, assent, sec 2.

Table of amendments

Cl 2	Am 2019 (257), Sch 1 [1].
Cl 3	Am 2019 (257), Sch 1 [2].
Cl 4	Am 2019 (257), Sch 1 [3]; 2020 (739), Sch 1[1]–[3]; 2021 (318), Sch 1[1] [2]; 2022 No 68, Sch 4.3[1] [2].
Cl 5A	Ins 2020 (600), Sch 1.
Cl 5	Am 2019 (257), Sch 1 [4]; 2023 No 35, Sch 4.15.
Cl 6	Am 2019 (257), Sch 1 [5]–[8]; 2021 (318), Sch 1[3] [4]; 2023 No 56, Sch 2.2.
Part 2A	Ins 2019 (257), Sch 1 [9].
Cl 6A	Ins 2019 (257), Sch 1 [9]. Am 2021 (318), Sch 1[5] [6].
Cl 6AA	Ins 2020 (739), Sch 1[4]. Rep 2022 No 68, Sch 4.3[3].
Part 3A, Div 1 (cl 9A)	Ins 2021 (160), cl 3.
Part 3A, Div 2	Ins 2021 (319), Sch 1.
Cl 9B	Ins 2021 (319), Sch 1.
Cl 9C	Ins 2021 (319), Sch 1. Am 2023 (298), Sch 1[1].
Cl 9D	Ins 2021 (319), Sch 1.
Cl 9E	Ins 2021 (319), Sch 1. Am 2023 (298), Sch 1[2] [3].
Cl 9EA	Ins 2023 (298), Sch 1[4].
Cl 9F	Ins 2021 (319), Sch 1.
Cl 9G	Ins 2021 (319), Sch 1.
Part 3A, Div 3	Ins 2023 (98), Sch 1[1].
Cl 9H	Ins 2023 (98), Sch 1[1].
Part 3A, Div 4	Ins 2023 (98), Sch 1[1].
Cl 9I	Ins 2023 (98), Sch 1[1].
Cl 9J	Ins 2023 (98), Sch 1[1].
Cl 10A	Ins 2021 (159), Sch 1[1].
Cl 11A	Ins 2020 (739), Sch 1[5].
Cl 11B	Ins 2020 (739), Sch 1[5]. Rep 2022 No 68, Sch 4.3[4].
Cll 11C–11F	Ins 2021 (159), Sch 1[2].
Cl 12	Am 2019 (257), Sch 1 [10] [11].
Part 5	Ins 2019 (257), Sch 1 [12].
Cl 12A	Ins 2020 No 6, Sch 1.2.
Cl 13	Ins 2019 (257), Sch 1 [12]. Am 2023 (298), Sch 1[5]–[7].
Cl 14	Ins 2019 (257), Sch 1 [12].
Part 6 (cll 15, 16)	Ins 2019 (257), Sch 1 [12].
Part 7	Ins 2021 (320), Sch 2[1]. Rep 2018 (685), cl 20.
Cl 17	Ins 2021 (320), Sch 2[1]. Rep 2018 (685), cl 20.
Cl 18	Ins 2021 (320), Sch 2[1]. Rep 2018 (685), cl 20.
Cl 19	Ins 2021 (320), Sch 2[1]. Rep 2018 (685), cl 20.
Cl 20	Ins 2021 (320), Sch 2[1]. Rep 2018 (685), cl 20.
Sch 1	Rep 2018 (685), cl 2 (2). Ins 2020 (642), cl 3. Rep 2018 (685), Sch 1.
Sch 2	Ins 2021 (320), Sch 2[2]. Am 2021 (575), sec 3(1) (2); 2022 (224), sec 3(1)–(3); 2022 (495), sec 3; 2022 No 68, Sch 4.3[5]. Rep 2018 (685), cl 20. Ins 2023 (98), Sch 1[2]. Am 2023 No 52, Sch 2.2; 2024 No 27, Sch 2.6.
Sch 3	Ins 2021 (318), Sch 1[7].