Public Authorities (Financial Arrangements) Amendment (Sydney Motorway Corporation Pty Ltd) Regulation 2014 (NSW)

New South Wales

Public Authorities (Financial Arrangements) Amendment (Sydney Motorway Corporation Pty Ltd) Regulation 2014

under the

Public Authorities (Financial Arrangements) Act 1987

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

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

ANDREW CONSTANCE, MP

Treasurer

Explanatory note
The object of this Regulation is to include Sydney Motorway Corporation Pty Ltd and its subsidiaries in the definition of controlled entity in the Public Authorities (Financial Arrangements) Act 1987 (the Act), but only for the purposes of Part 4A of the Act, and to exclude Sydney Motorway Corporation Pty Ltd and its subsidiaries from the definition of authority for the purposes of the whole Act. Part 4A of the Act provides that an authority that controls a controlled entity must ensure that the controlled entity does not enter into or maintain any financial arrangements that the authority is not authorised to enter into, except as otherwise provided by that Part.

This Regulation is made under the Public Authorities (Financial Arrangements) Act 1987, including the definitions of authority and controlled entity in section 3 (1) and section 43 (the general regulation-making power).

Public Authorities (Financial Arrangements) Amendment (Sydney Motorway Corporation Pty Ltd) Regulation
2014 [NSW]

Public Authorities (Financial Arrangements) Amendment (Sydney Motorway Corporation Pty Ltd) Regulation 2014

under the

Public Authorities (Financial Arrangements) Act 1987

1      Name of Regulation

This Regulation is the Public Authorities (Financial Arrangements) Amendment
(Sydney Motorway Corporation Pty Ltd) Regulation 2014.

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

(1) Clause 5A

Insert after clause 5:

5A

Entities included in definition of “controlled entity”

(1)	Each entity listed in Part 2A of Schedule 1 is prescribed as being within the definition of controlled entity in section 3 (1) of the Act.
(2)	The prescribing of any such entity is subject to any limitation specified in Part 2A of Schedule 1 in relation to that entity.
(3)	Such an entity ceases to be a controlled entity, despite its inclusion in Part 2A of Schedule 1, if it ceases to be an entity of which an authority has control within the meaning of a standard referred to in section 39 (1A) or 45A (1A) of the Public Finance and Audit Act 1983.

(2)	Schedule 1 Definitions of “authority” and “controlled entity”
Insert in alphabetical order in Part 2:

Sydney Motorway Corporation Pty Ltd and its subsidiaries

(3)	Schedule 1, Part 2A
Insert after Part 2 of the Schedule:
Part 2A Entities included in definition of “controlled

entity”

Sydney Motorway Corporation Pty Ltd and its subsidiaries, but only for the purposes of Part 4A of the Act.