Public Authorities (Financial Arrangements) Amendment (Ministerial Investments) Regulation 2018 (NSW)

New South Wales

Public Authorities (Financial Arrangements)

Amendment (Ministerial Investments)

Regulation 2018

under the

Public Authorities (Financial Arrangements) Act 1987

His Excellency the Governor, with the advice of the Executive Council, has made the following

Regulation under the Public Authorities (Financial Arrangements) Act 1987.

DOMINIC PERROTTET, MP

Treasurer

Explanatory note

The object of this Regulation is to authorise Ministers of the Crown to invest (whether or not by way of a joint venture), on terms and conditions approved by the Treasurer, in corporations or trusts established:

(a)	for the purpose of the development or operation of the WestConnex Motorway, or
(b)	for investment in a corporation or trust established for that purpose.

This Regulation is made under the Public Authorities (Financial Arrangements) Act 1987, including section 43 (the general regulation-making power) and clause 2 (c) of Schedule 4.

Public Authorities (Financial Arrangements) Amendment (Ministerial Investments) Regulation 2018 [NSW]

Public Authorities (Financial Arrangements) Amendment

(Ministerial Investments) Regulation 2018

under the

Public Authorities (Financial Arrangements) Act 1987

1      Name of Regulation

This Regulation is the Public Authorities (Financial Arrangements) Amendment
(Ministerial Investments) Regulation 2018.

2      Commencement

This Regulation commences on the day on which it is published on the NSW legislation website.

3 Amendment of Public Authorities (Financial Arrangements) Regulation 2013

Schedule 5 Authorities having additional investment powers

Insert after clause 14B:

14C Ministers of the Crown

The following additional investments are prescribed in respect of
Ministers of the Crown:

Direct or indirect investments (including in shares or units), made on terms and conditions approved by the Treasurer, whether or not by way of a joint venture, in a corporation or trust:

(a)	established for the purpose of the development or operation of the WestConnex Motorway, or
(b)	established for the purpose of direct or indirect investment in a corporation or trust established for the purpose referred to in paragraph (a).