Public Governance, Performance and Accountability (Judo Bank) Delegations 2024
I, Steven Kennedy, Secretary to the Department of the Treasury, make the following delegations.
Dated 22 March 2024
Dr Steven Kennedy
Secretary
Department of the Treasury
Contents
Part 1—Preliminary
1 Name
2 Commencement
3 Authority
4 Definitions
Part 2—Delegations relating to guarantees, indemnities or warranties by the Commonwealth
5 Delegations relating to guarantees, indemnities or warranties by the Commonwealth
Part 1—Preliminary
1 Name
This instrument is the Public Governance, Performance and Accountability (Judo Bank) Delegations 2024.
2 Commencement
(1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information | ||
Column 1 | Column 2 | Column 3 |
Provisions | Commencement | Date/Details |
1. The whole of this instrument | The day after this instrument is registered. |
|
Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.
(2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.
3 Authority
This instrument is made under the Public Governance, Performance and Accountability Act 2013.
4 Definitions
Note: Expressions have the same meaning in this instrument as in the Public Governance, Performance and Accountability Act 2013 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003.
In this instrument:
ABN has the meaning given by the A New Tax System (Australian Business Number) Act 1999.
Judo Bank means Judo Bank Pty Ltd (ABN 11 615 995 581).
Secretary means the Secretary to the Treasury (also the accountable authority of the Treasury).
SME entities has the meaning given by the Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Act 2020.
the Act means the Public Governance, Performance and Accountability Act 2013.
the Treasury means the Department of the Treasury.
Part 2—Delegations relating to guarantees, indemnities or warranties by the Commonwealth
5 Delegations relating to guarantees, indemnities or warranties by the Commonwealth
(1) Under subsection 110(1) of the Act, each person holding, occupying or performing the duties of each of the following offices or positions in the Treasury, is delegated the Secretary’s powers under section 60 of the Act, as delegated to the Secretary by the Minister for Finance in writing on 13 December 2023 (MC23-004225 refers):
(a) a Deputy Secretary.
Directions
(2) Under subsection 110(6) of the Act, a delegate under subsection (1) is directed to exercise the power in a manner consistent with all of the following:
(a) the power is to be exercised only in connection with loans made by Judo Bank to SME entities that have previously been the subject of a guarantee under the Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Act 2020;
(b) guarantees provided under the power must be for either 50 percent or 80 percent of the loan amount, consistent with the guarantee previously in force under the Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Act 2020.