Treasury (Borrowing) Act 2016 (TAS)

Treasury (Borrowing) Act 2016

An Act to authorise the borrowing of money by the Treasurer and to validate certain instruments and exercises of power

[Royal Assent 29 June 2016]

Be it enacted by Her Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows:

1Short titleThis Act may be cited as the Treasury (Borrowing) Act 2016. 2CommencementThis Act commences on the day on which this Act receives the Royal Assent. 34Validation (1)  In this section – Appropriation Act means an Appropriation Act, within the meaning of section 36 of the Constitution Act 1934, that commenced on or after 1 July 1986 but before 30 June 2016. (2) A Bill for an Appropriation Act is not to be taken to have contravened section 39 of the Constitution Act 1934 by reason only that it contained a provision specifying that the Treasurer may borrow such money as may be required for the purposes of the State. (3)  [Section 4 Subsection (3) amended by No. 38 of 2020, Sched. 1, Applied:27 Nov 2020] Despite section 40 of the Constitution Act 1934  – (a) a provision, in an Appropriation Act, that confers, or conferred, on the Treasurer a power to borrow such money as may be required for the purposes of the State; and (b) the exercise, or purported exercise, by the Treasurer, of a power conferred, or purportedly conferred, by such a provision in an Appropriation Act – is not to be taken, by reason only that the provision deals, or dealt, with a matter other than the issue, application, and appropriation of money out of the Consolidated Fund or the Public Account, to be, or to have ever been, of no effect or invalid. 5Administration of ActUntil provision is made in relation to this Act by order under section 4 of the Administrative Arrangements Act 1990  – (a) the administration of this Act is assigned to the Treasurer; and (b) the department responsible to that Minister in relation to the administration of this Act is the Department of Treasury and Finance.