76. Notional payments and receipts by non-corporate Commonwealth entities

If:

(a) either:

(i) a non-corporate Commonwealth entity makes a notional payment to another non-corporate Commonwealth entity; or

(ii) one part of a non-corporate Commonwealth entity makes a notional payment to another part of that entity; and

(b) the transaction would involve the debiting of an appropriation if the notional payment were a real payment;

then:

(c) the finance law applies in relation to the notional payment as if it were a real payment; and

(d) the finance law applies in relation to the notional receipt of the notional payment as if it were a real receipt.

Note: This section applies to transactions that do not actually involve payments or receipts, because the parties to the transaction (non-corporate Commonwealth entities) are merely parts of the Commonwealth.

Last updated: 13 January 2016