108. Treasurer

When Treasurer may delegate

(1) The Treasurer may, by written instrument, delegate to an eligible delegate (see subsection (2)) any of the Treasurer’s powers, functions or duties under this Act or the rules.

(2) An eligible delegate is an official of the Department of the Treasury, or a listed entity that is prescribed by the rules, who:

(a) is an SES employee; or

(b) is an APS employee who holds or performs the duties of an Executive Level 2, or equivalent, position; or

(c) occupies an office or position at an equivalent level to that of an SES employee, or an Executive Level 2.

(3) However, the Treasurer may not delegate any of the Treasurer’s powers, functions or duties under:

(a) subsection 71(1) or (3) (which is about approving expenditure); or

(b) subsection 72(1) (which is about notifying Parliament about certain events).

Directions by the Treasurer about delegation

(4) The Treasurer may, by written instrument, give directions in relation to either or both of the following:

(a) the class or classes of authorised investment in which relevant money may be invested;

(b) matters of risk and return.

(5) The Treasurer must not give a direction under subsection (4) that has the purpose, or has or is likely to have the effect, of directly or indirectly requiring an eligible delegate to allocate financial assets to a particular company, partnership, trust, body politic or business.

(6) If, at any time, a delegation is in force under subsection (1), there must be at least one direction in force under subsection (4).

(7) In exercising powers, performing functions or discharging duties under a delegation, an eligible delegate must comply with:

(a) a direction in force under subsection (4); and

(b) any other written direction given by the Treasurer to the eligible delegate.

(8) The Treasurer must table a direction given under subsection (4) or paragraph (7)(b) in each House of the Parliament no later than 15 sitting days of that House after it is given.

Last updated: 13 January 2016