{"id":"nsw:sl-2024-0251","name":"Government Sector Finance Regulation 2024","slug":"government-sector-finance-regulation-2024","collection":"regulation","jurisdiction":"nsw","status":"in_force","isInForce":true,"actNumber":"251 of 2024","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":175863,"registerId":"nsw-nsw:sl-2024-0251-current","compilationNumber":null,"startDate":"2026-04-05","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Part 1","sectionType":"part","heading":"Preliminary","content":"# Part 1 Preliminary\n\nPart 1 Preliminary","sortOrder":0},{"sectionNumber":"1","sectionType":"section","heading":"Name of regulation","content":"#### 1 Name of regulation\n\n1 Name of regulation\n\n> This regulation is the [Government Sector Finance Regulation 2024](/view/html/inforce/current/sl-2024-0251).","sortOrder":1},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"#### 2 Commencement\n\n2 Commencement\n\n> This regulation commences on 30 June 2024.","sortOrder":2},{"sectionNumber":"3","sectionType":"section","heading":"Definitions","content":"#### 3 Definitions\n\n3 Definitions\n\n> In this regulation—\n> \n> asset, contingent liability, expenses, income and liability, for Part 5, Division 2—see section 14.\n> \n> assurer, for Part 4—see section 9.\n> \n> bank guarantee, for Part 4—see section 9.\n> \n> commitment, for Part 5, Division 2—see section 14.\n> \n> common trust, for Part 5, Division 2—see section 14.\n> \n> Crown land manager, for Part 5, Division 2—see section 14.\n> \n> Crown Reserves Improvement Fund, for Part 5, Division 2—see section 14.\n> \n> customer good means a good acquired or created by a GSF agency for the purpose of sale or resale to customers.\n> \n> expenditure function, for Part 6—see section 24.\n> \n> finance recipient, for Part 4—see section 9.\n> \n> general guarantee, for Part 4—see section 9.\n> \n> guarantee recipient, for Part 4—see section 9.\n> \n> guarantor, for Part 4—see section 9.\n> \n> lessee, for Part 4—see section 9.\n> \n> letter of comfort, for Part 4—see section 9.\n> \n> letter of financial support, for Part 4—see section 9.\n> \n> operating or finance lease arrangement, for Part 4—see section 9.\n> \n> relevant transaction, for Part 5, Division 2—see section 14.\n> \n> retained State interest, for Part 5, Division 2—see section 14.\n> \n> social benefit bond, for Part 4—see section 9.\n> \n> supplier finance arrangement, for Part 4—see section 9.\n> \n> Teaching Service has the same meaning as in the [Teaching Service Act 1980](/view/html/inforce/current/act-1980-023).\n> \n> the Act means the [Government Sector Finance Act 2018](/view/html/inforce/current/act-2018-055).\n> \n> Note—\n> \n> The Act and the [Interpretation Act 1987](/view/html/inforce/current/act-1987-015) also contain definitions and other provisions that affect the interpretation and application of this regulation.\n> \n> **s 3:** Am 2024 (611), Sch 1\\[1\\].","sortOrder":3},{"sectionNumber":"Part 2","sectionType":"part","heading":"Key concepts","content":"# Part 2 Key concepts\n\nPart 2 Key concepts","sortOrder":4},{"sectionNumber":"3A","sectionType":"section","heading":"Prescribed NSW Health entities—the Act, s 2.3(1)(f)","content":"#### 3A Prescribed NSW Health entities—the Act, s 2.3(1)(f)\n\n3A Prescribed NSW Health entities—the Act, s 2.3(1)(f)\n\n> The Voluntary Assisted Dying Board is prescribed as a NSW Health entity.\n> \n> Note—\n> \n> The Act, section 2.4(1)(b) provides that a NSW Health entity is a GSF agency.\n> \n> **s 3A:** Ins 2025 (503), Sch 1\\[1\\].","sortOrder":5},{"sectionNumber":"4","sectionType":"section","heading":"Prescribed GSF agencies—the Act, s 2.4(1)(l)","content":"#### 4 Prescribed GSF agencies—the Act, s 2.4(1)(l)\n\n4 Prescribed GSF agencies—the Act, s 2.4(1)(l)\n\n> > (1) Each entity specified in Schedule 1 is a GSF agency.\n> \n> > (2) The following entities are GSF agencies for the purposes of the Act, Divisions 6.4–6.6—\n> > \n> > > (a) the corporation sole constituted under the [Heritage Act 1977, section 102](/view/html/inforce/current/act-1977-136),\n> > \n> > > (b) the Minister administering the [Tweed River Entrance Sand Bypassing Act 1995](/view/html/inforce/current/act-1995-055), but only for the purposes of functions exercised in connection with the carrying into effect of that Act.\n> \n> > (3) The Commissioner of Police is a GSF agency for the purposes of the Act, Divisions 6.4–6.6 to the extent the divisions apply to derivative arrangements.\n> \n> > (4) Anabranch Water is a GSF agency for the purposes of the Act, Divisions 6.4–6.6 to the extent the divisions apply to investments.\n> \n> > (5) The following are GSF agencies for the purposes of the Act, Part 7—\n> > \n> > > (a) the Border Fence Maintenance Board,\n> > \n> > > (b) the Statutory Trustee, or the Statutory Trustees, of a Fund within the meaning of the [Technical Education Trust Funds Act 1967](/view/html/inforce/current/act-1967-095).\n> \n> > (6) (Repealed)\n> \n> > (7) In this section—\n> > \n> > Anabranch Water means the board of management for the Great Anabranch of the Darling River Private Water Supply and Irrigation District, constituted by proclamation published in Gazette No 142 of 25 November 2005 at pages 9809–9810.\n> \n> **s 4:** Am 2024 (611), Sch 1\\[2\\].","sortOrder":6},{"sectionNumber":"5","sectionType":"section","heading":"Separate GSF agencies—the Act, s 2.5(1)(f)","content":"#### 5 Separate GSF agencies—the Act, s 2.5(1)(f)\n\n5 Separate GSF agencies—the Act, s 2.5(1)(f)\n\n> The Independent Planning Commission of New South Wales is prescribed as a separate GSF agency.","sortOrder":7},{"sectionNumber":"6","sectionType":"section","heading":"Accountable authorities—the Act, s 2.7(3)","content":"#### 6 Accountable authorities—the Act, s 2.7(3)\n\n6 Accountable authorities—the Act, s 2.7(3)\n\n> For the Act, section 2.7(3)—\n> \n> > (a) the Secretary of the Department of Climate Change, Energy, the Environment and Water is the accountable authority for the corporation sole constituted under the [Heritage Act 1977](/view/html/inforce/current/act-1977-136), section 102, and\n> \n> > (b) the Secretary of the Treasury is the accountable authority for the following GSF agencies, or kinds of GSF agencies—\n> > \n> > > (i) the Ministerial Holding Corporation constituted under the [State Owned Corporations Act 1989](/view/html/inforce/current/act-1989-134), section 37B,\n> > \n> > > (ii) (Repealed)\n> > \n> > > (iii) the Electricity Assets Ministerial Holding Corporation constituted under the [Electricity Generator Assets (Authorised Transactions) Act 2012](/view/html/inforce/current/act-2012-035), section 12,\n> > \n> > > (iv) the Ports Assets Ministerial Holding Corporation constituted under the [Ports Assets (Authorised Transactions) Act 2012](/view/html/inforce/current/act-2012-101), section 13,\n> > \n> > > (v) a Ministerial Holding Corporation constituted under the [Electricity Network Assets (Authorised Transactions) Act 2015](/view/html/inforce/current/act-2015-005), Schedule 7, clause 6,\n> > \n> > > (vi) a Ministerial Holding Corporation constituted under the [Electricity Network Assets (Authorised Transactions) Act 2015](/view/html/inforce/current/act-2015-005), Schedule 7, clause 9.\n> \n> **s 6:** Am 2024 (611), Sch 1\\[3\\]; 2025 No 66, Sch 3.2.","sortOrder":8},{"sectionNumber":"7","sectionType":"section","heading":"Prescribed government officers","content":"#### 7 Prescribed government officers\n\n7 Prescribed government officers\n\n> > (1) For the Act, section 2.9(1)(e), a person who is a member of a GSF agency, or is appointed to the GSF agency, is prescribed as a government officer unless the person is referred to in the Act, section 2.9(2).\n> \n> > (2) For the Act, section 2.9(1)(e) and (3)(b), each person specified in Schedule 2, table is prescribed as a government officer for the GSF agencies specified opposite in the table.\n> \n> **s 7:** Am 2024 (611), Sch 1\\[4\\].","sortOrder":9},{"sectionNumber":"Part 3","sectionType":"part","heading":"Roles and responsibilities","content":"# Part 3 Roles and responsibilities\n\nPart 3 Roles and responsibilities","sortOrder":10},{"sectionNumber":"8","sectionType":"section","heading":"Treasurer’s directions—the Act, s 3.1(1)(c)","content":"#### 8 Treasurer’s directions—the Act, s 3.1(1)(c)\n\n8 Treasurer’s directions—the Act, s 3.1(1)(c)\n\n> > (1) The Treasurer’s directions may make provision about the following—\n> > \n> > > (a) the establishment and operation of securities and securities registries by GSF agencies in respect of GSF agency issued securities, including the inspection of the registries,\n> > \n> > > (b) the surrender, transfer, exchange and transmission of securities by GSF agencies in respect of GSF agency issued securities,\n> > \n> > > (c) the purchase of GSF agency issued securities,\n> > \n> > > (d) the making of payments, including interest payments, by GSF agencies in respect of GSF agency issued securities,\n> > \n> > > (e) the form of GSF agency issued securities,\n> > \n> > > (f) the making of payments by a GSF agency to the suppliers of goods and services to the GSF agency, including—\n> > > \n> > > > (i) the period within which payments must be made to suppliers, and\n> > > \n> > > > (ii) if payment is not made within the required period, the payment of penalty interest to suppliers.\n> \n> > (2) In this section—\n> > \n> > GSF agency issued security means a security issued by a GSF agency.\n> > \n> > security includes an inscribed stock, debenture, promissory note or bank bill of exchange.","sortOrder":11},{"sectionNumber":"Part 4","sectionType":"part","heading":"Financial services and arrangements","content":"# Part 4 Financial services and arrangements\n\nPart 4 Financial services and arrangements","sortOrder":12},{"sectionNumber":"9","sectionType":"section","heading":"Definitions","content":"#### 9 Definitions\n\n9 Definitions\n\n> In this part—\n> \n> assurer—\n> \n> > (a) under a letter of comfort—see definition of letter of comfort, or\n> \n> > (b) under a letter of financial support—see definition of letter of financial support.\n> \n> bank guarantee means an arrangement under which an entity that provides finance undertakes to do either of the following in relation to another entity (the guarantee recipient)—\n> \n> > (a) guarantee to a third party the performance of an obligation by the guarantee recipient,\n> \n> > (b) pay a third party on demand by the guarantee recipient.\n> \n> finance recipient—see definition of supplier finance arrangement.\n> \n> general guarantee means an arrangement under which an entity (a guarantor) promises to another entity to be responsible for performing the obligations of a third entity if the third entity fails to perform the obligations.\n> \n> guarantee recipient—see definition of bank guarantee.\n> \n> guarantor—see definition of general guarantee.\n> \n> lessee—see definition of operating or finance lease arrangement.\n> \n> letter of comfort means an arrangement—\n> \n> > (a) under which an entity (the assurer) gives a document to a second entity that is intended to generally reassure the second entity about a state of affairs and the assurer’s intention to perform obligations to facilitate a proposed arrangement, and\n> \n> > (b) that gives rise to a contingent liability for the assurer.\n> \n> letter of financial support means an arrangement—\n> \n> > (a) under which an entity (the assurer) gives a document to a second entity that verifies funding will be available for a third entity for the purposes of a proposed arrangement, and\n> \n> > (b) that gives rise to a contingent liability for the assurer.\n> \n> operating or finance lease arrangement means an arrangement under which an entity (the lessor) grants another entity (the lessee) for value—\n> \n> > (a) a right for the lessee to use an asset, other than land, of the lessor for a specified period, and\n> \n> > (b) any entitlements to the risks and rewards resulting from the use of the asset.\n> \n> social benefit bond means an arrangement created by an instrument under which any financial return is made contingent on the achievement of specified social outcomes.\n> \n> supplier finance arrangement means an agreement under which—\n> \n> > (a) a party (the finance provider) assumes the liability of another party (the finance recipient) for the payment of invoices from suppliers for the finance recipient, and\n> \n> > (b) the finance recipient has an obligation to repay the finance provider for any amounts paid, including interest or amounts in the form of interest.","sortOrder":13},{"sectionNumber":"10","sectionType":"section","heading":"Prescribed borrowings—the Act, s 6.8(1)(c)","content":"#### 10 Prescribed borrowings—the Act, s 6.8(1)(c)\n\n10 Prescribed borrowings—the Act, s 6.8(1)(c)\n\n> Each of the following arrangements is prescribed as a borrowing—\n> \n> > (a) issuing a social benefit bond,\n> \n> > (b) becoming a guarantee recipient under a bank guarantee,\n> \n> > (c) becoming a finance recipient under a supplier finance arrangement,\n> \n> > (d) becoming a lessee under an operating or finance lease arrangement.","sortOrder":14},{"sectionNumber":"11","sectionType":"section","heading":"Prescribed investments—the Act, s 6.9(1)(b)","content":"#### 11 Prescribed investments—the Act, s 6.9(1)(b)\n\n11 Prescribed investments—the Act, s 6.9(1)(b)\n\n> Each of the following arrangements is prescribed as an investment—\n> \n> > (a) purchasing a social benefit bond,\n> \n> > (b) depositing money in a banking account even if it is not primarily for the purpose or with the expectation of producing income, interest, profit, capital growth or any other financial benefit.","sortOrder":15},{"sectionNumber":"12","sectionType":"section","heading":"Prescribed joint ventures—the Act, s 6.12(2)(c)","content":"#### 12 Prescribed joint ventures—the Act, s 6.12(2)(c)\n\n12 Prescribed joint ventures—the Act, s 6.12(2)(c)\n\n> Each of the following common understandings is prescribed as a joint venture—\n> \n> > (a) becoming a guarantor under a general guarantee,\n> \n> > (b) becoming an assurer under a letter of comfort,\n> \n> > (c) becoming an assurer under a letter of financial support,\n> \n> > (d) an arrangement involving a combination of 2 or more of the common understandings specified in paragraphs (a)–(c), whether those understandings form the whole subject of the understanding or form only part of an understanding.","sortOrder":16},{"sectionNumber":"Part 5","sectionType":"part","heading":"Reporting GSF agencies","content":"# Part 5 Reporting GSF agencies\n\nPart 5 Reporting GSF agencies","sortOrder":17},{"sectionNumber":"Division 1","sectionType":"division","heading":"Prescribed reporting exemption criteria—criteria for excluding GSF agencies from reporting requirements","content":"## Division 1 Prescribed reporting exemption criteria—criteria for excluding GSF agencies from reporting requirements\n\nDivision 1 Prescribed reporting exemption criteria—criteria for excluding GSF agencies from reporting requirements","sortOrder":18},{"sectionNumber":"13","sectionType":"section","heading":"Prescribed reporting exemption criteria—the Act, s 7.3(4)(a)–(c)","content":"#### 13 Prescribed reporting exemption criteria—the Act, s 7.3(4)(a)–(c)\n\n13 Prescribed reporting exemption criteria—the Act, s 7.3(4)(a)–(c)\n\n> For the Act, section 7.3(4)(a)–(c), the following criteria are prescribed—\n> \n> > (a) whether there are users of information contained in the annual GSF financial statements for the relevant agencies,\n> \n> > (b) whether the relevant agencies are subject to the direction and control of—\n> > \n> > > (i) a responsible Minister, or\n> > \n> > > (ii) another GSF agency,\n> \n> > (c) whether the financial position and financial performance of the relevant agencies are consolidated within the financial statements of other GSF agencies,\n> \n> > (d) whether the relevant agencies generally hold cash or cash equivalents.","sortOrder":19},{"sectionNumber":"Division 2","sectionType":"division","heading":"Excluded GSF agencies—the Act, s 7.3","content":"## Division 2 Excluded GSF agencies—the Act, s 7.3\n\nDivision 2 Excluded GSF agencies—the Act, s 7.3","sortOrder":20},{"sectionNumber":"14","sectionType":"section","heading":"Definitions","content":"#### 14 Definitions\n\n14 Definitions\n\n> In this division—\n> \n> asset, contingent liability, expenses, income and liability have the same meanings as in the Australian Accounting Standards.\n> \n> commitment means a contractual commitment required to be disclosed in financial statements prepared in accordance with the Australian Accounting Standards.\n> \n> common trust means a trust established under the [Commons Management Act 1989](/view/html/inforce/current/act-1989-013), section 4(1).\n> \n> Crown land manager has the same meaning as in the [Crown Land Management Act 2016](/view/html/inforce/current/act-2016-058).\n> \n> Crown Reserves Improvement Fund means the Crown Reserves Improvement Fund established under the [Crown Land Management Act 2016](/view/html/inforce/current/act-2016-058), Division 12.5.\n> \n> relevant transaction means a transaction, approved or directed by the Premier or Treasurer or other Minister, for the sale, lease, assignment, transfer or other disposal of assets or liabilities of the State to an entity that is not a government sector entity.\n> \n> retained State interest, in relation to a transaction, means an interest or right in, or related to, an asset or liability disposed of under the transaction that is held by or on behalf of the State as a result of the transaction.\n> \n> **s 14:** Am 2024 (611), Sch 1\\[5\\].","sortOrder":21},{"sectionNumber":"15","sectionType":"section","heading":"Small agencies—the Act, s 7.3(2)","content":"#### 15 Small agencies—the Act, s 7.3(2)\n\n15 Small agencies—the Act, s 7.3(2)\n\n> A GSF agency meeting all of the following requirements is prescribed not to be a reporting GSF agency—\n> \n> > (a) the assets, liabilities, income, expenses, commitments and contingent liabilities of the agency are each less than $5,000,000,\n> \n> > (b) the total cash or cash equivalents held by the agency is less than $2,500,000,\n> \n> > (c) if the agency has income—less than $500,000 of the agency’s income is from sources other than the following—\n> > \n> > > (i) money paid out of the Consolidated Fund,\n> > \n> > > (ii) money provided by other GSF agencies,\n> > \n> > > (iii) money paid out of an SDA account.\n> \n> > (d) (Repealed)\n> \n> **s 15:** Am 2025 (503), Sch 1\\[2\\].","sortOrder":22},{"sectionNumber":"15A","sectionType":"section","heading":"Small controlled agencies—the Act, s 7.3(2)","content":"#### 15A Small controlled agencies—the Act, s 7.3(2)\n\n15A Small controlled agencies—the Act, s 7.3(2)\n\n> A GSF agency meeting all of the following requirements is prescribed not to be a reporting GSF agency—\n> \n> > (a) the agency is a controlled entity of a reporting GSF agency (the parent agency),\n> \n> > (b) the agency’s financial position and financial performance are consolidated within the financial statements of the parent agency,\n> \n> > (c) the assets, liabilities, income, expenses, commitments and contingent liabilities of the agency are each less than $20,000,000,\n> \n> > (d) the total cash or cash equivalents held by the agency is less than $10,000,000,\n> \n> > (e) if the agency has income—less than $2,000,000 of the agency’s income is from sources other than the following—\n> > \n> > > (i) money paid out of the Consolidated Fund,\n> > \n> > > (ii) money provided by other GSF agencies,\n> > \n> > > (iii) money paid out of an SDA account.\n> \n> **s 15A:** Ins 2025 (503), Sch 1\\[3\\].","sortOrder":23},{"sectionNumber":"16","sectionType":"section","heading":"Crown land managers—the Act, s 7.3(2)","content":"#### 16 Crown land managers—the Act, s 7.3(2)\n\n16 Crown land managers—the Act, s 7.3(2)\n\n> > (1) A GSF agency meeting all of the following requirements is prescribed not to be a reporting GSF agency—\n> > \n> > > (a) the agency is a Crown land manager,\n> > \n> > > (b) the assets, liabilities, income, expenses, commitments and contingent liabilities of the agency are each less than $20,000,000,\n> > \n> > > (c) the total cash or cash equivalents held by the agency is less than $2,500,000,\n> > \n> > > (d) the income of the agency, excluding income derived from the following sources, is less than $2,000,000—\n> > > \n> > > > (i) money paid out of the Consolidated Fund,\n> > > \n> > > > (ii) money paid out of the Crown Reserves Improvement Fund,\n> > > \n> > > > (iii) money provided by other GSF agencies,\n> > > \n> > > > (iv) money provided by Commonwealth entities, within the meaning of the [Public Governance, Performance and Accountability Act 2013](http://www.legislation.gov.au/) of the Commonwealth.\n> > \n> > > (e) (Repealed)\n> \n> > (2) In this section—\n> > \n> > assets, of a GSF agency, does not include land held by the agency.\n> \n> **s 16:** Am 2025 (503), Sch 1\\[4\\]–\\[8\\].","sortOrder":24},{"sectionNumber":"17","sectionType":"section","heading":"Common trusts—the Act, s 7.3(2)","content":"#### 17 Common trusts—the Act, s 7.3(2)\n\n17 Common trusts—the Act, s 7.3(2)\n\n> > (1) A GSF agency meeting all of the following requirements is prescribed not to be a reporting GSF agency—\n> > \n> > > (a) the agency is a common trust,\n> > \n> > > (b) the assets, liabilities, income, expenses, commitments and contingent liabilities of the agency are each less than $20,000,000,\n> > \n> > > (c) the total cash or cash equivalents held by the agency is less than $2,500,000,\n> > \n> > > (d) the income of the agency, excluding income derived from the following sources, is less than $2,000,000—\n> > > \n> > > > (i) money paid out of the Consolidated Fund,\n> > > \n> > > > (ii) money paid out of the Crown Reserves Improvement Fund,\n> > > \n> > > > (iii) money provided by other GSF agencies,\n> > > \n> > > > (iv) money provided by Commonwealth entities, within the meaning of the [Public Governance, Performance and Accountability Act 2013](http://www.legislation.gov.au/) of the Commonwealth.\n> > \n> > > (e) (Repealed)\n> \n> > (2) In this section—\n> > \n> > assets, of a GSF agency, does not include land held by the agency.\n> \n> **s 17:** Am 2025 (503), Sch 1\\[4\\] \\[5\\] \\[9\\]–\\[11\\].","sortOrder":25},{"sectionNumber":"18","sectionType":"section","heading":"Special purpose staff agencies—the Act, s 7.3(2)","content":"#### 18 Special purpose staff agencies—the Act, s 7.3(2)\n\n18 Special purpose staff agencies—the Act, s 7.3(2)\n\n> A GSF agency comprised solely of persons who are employed to enable another GSF agency to exercise its functions is prescribed not to be a reporting GSF agency.","sortOrder":26},{"sectionNumber":"19","sectionType":"section","heading":"Retained State interests—the Act, s 7.3(2)","content":"#### 19 Retained State interests—the Act, s 7.3(2)\n\n19 Retained State interests—the Act, s 7.3(2)\n\n> A GSF agency meeting all of the following requirements is prescribed not to be a reporting GSF agency—\n> \n> > (a) the sole purpose of the agency is to hold and manage retained State interests arising from a relevant transaction and all of the agency’s activities relate to the purpose,\n> \n> > (b) the agency’s financial position and financial performance are consolidated within the financial statements of another GSF agency (the second agency),\n> \n> > (c) the agency has the same accountable authority as the second agency,\n> \n> > (d) if there is another GSF agency (a controlled agency) that is a controlled entity of the second agency—the agency has the same sole purpose as the controlled agency.","sortOrder":27},{"sectionNumber":"19A","sectionType":"section","heading":"ERIC subsidiaries—the Act, s 7.3(2)","content":"#### 19A ERIC subsidiaries—the Act, s 7.3(2)\n\n19A ERIC subsidiaries—the Act, s 7.3(2)\n\n> A GSF agency meeting all of the following requirements is prescribed not to be a reporting GSF agency—\n> \n> > (a) the agency is a controlled entity of a corporation constituted by the [Electricity Retained Interest Corporations Act 2015](/view/html/inforce/current/act-2015-006) (an ERIC subsidiary),\n> \n> > (b) the agency’s financial position and financial performance are consolidated within the financial statements of another GSF agency (the second agency),\n> \n> > (c) the agency has the same accountable authority as the second agency.\n> \n> **s 19A:** Ins 2025 (503), Sch 1\\[12\\].","sortOrder":28},{"sectionNumber":"Division 3","sectionType":"division","heading":"Prescribed reporting exemption criteria—criteria for exempting SDA accounts from financial reporting requirements","content":"## Division 3 Prescribed reporting exemption criteria—criteria for exempting SDA accounts from financial reporting requirements\n\nDivision 3 Prescribed reporting exemption criteria—criteria for exempting SDA accounts from financial reporting requirements","sortOrder":29},{"sectionNumber":"20","sectionType":"section","heading":"Prescribed reporting exemption criteria—the Act, s 7.3(4)(d)","content":"#### 20 Prescribed reporting exemption criteria—the Act, s 7.3(4)(d)\n\n20 Prescribed reporting exemption criteria—the Act, s 7.3(4)(d)\n\n> For the Act, section 7.3(4)(d), the following criteria are prescribed—\n> \n> > (a) whether there are users of information contained in the financial reports for the relevant SDA accounts,\n> \n> > (b) whether the relevant SDA accounts are subject to the direction and control of a responsible Minister or GSF agency,\n> \n> > (c) whether the financial position and financial performance of the relevant SDA accounts are—\n> > \n> > > (i) consolidated within the financial statements of a GSF agency, or\n> > \n> > > (ii) disclosed as administered activities by a GSF agency in the notes to the financial statements of the GSF agency.","sortOrder":30},{"sectionNumber":"Division 4","sectionType":"division","heading":null,"content":"## Division 4\n\nDivision 4\n\n21, 22 (Repealed)\n\n**pt 5, div 4:** Rep 2024 (251), sec 22.\n\n**s 21:** Rep 2024 (251), sec 22.\n\n**s 22:** Rep 2024 (251), sec 22.","sortOrder":31},{"sectionNumber":"Division 5","sectionType":"division","heading":"Annual reporting information","content":"## Division 5 Annual reporting information\n\nDivision 5 Annual reporting information","sortOrder":32},{"sectionNumber":"23","sectionType":"section","heading":"Presentation of annual reporting information—the Act, s 7.11(2)","content":"#### 23 Presentation of annual reporting information—the Act, s 7.11(2)\n\n23 Presentation of annual reporting information—the Act, s 7.11(2)\n\n> A reporting GSF agency must present the annual reporting information for the reporting GSF agency under the following high-level headings—\n> \n> > (a) Overview,\n> \n> > (b) Strategy,\n> \n> > (c) Operations and performance,\n> \n> > (d) Management and accountability,\n> \n> > (e) Sustainability,\n> \n> > (f) Financial performance.","sortOrder":33},{"sectionNumber":"Part 6","sectionType":"part","heading":"Delegations","content":"# Part 6 Delegations\n\nPart 6 Delegations","sortOrder":34},{"sectionNumber":"24","sectionType":"section","heading":"Definition","content":"#### 24 Definition\n\n24 Definition\n\n> In this part—\n> \n> expenditure function, of a Minister, means a function conferred or imposed on the Minister by or under an Act or other legislation, including an annual Appropriation Act, regarding the expenditure of money, including out of the Consolidated Fund.","sortOrder":35},{"sectionNumber":"25","sectionType":"section","heading":"Prescribed delegates and subdelegates for Judicial Commission","content":"#### 25 Prescribed delegates and subdelegates for Judicial Commission\n\n25 Prescribed delegates and subdelegates for Judicial Commission\n\n> > (1) For the Act, section 9.9(5), table, item 3, paragraph (b), a member of staff of the Judicial Commission is prescribed as an entity to which the accountable authority for the Commission may subdelegate.\n> \n> > (2) For the Act, section 9.11(1)(b), a member of staff of the Judicial Commission is prescribed as an entity to which the accountable authority for the Commission may delegate.\n> \n> > (3) For the Act, section 9.11(4), table, item 2, a member of staff of the Judicial Commission is prescribed as an entity to which a delegate prescribed by subsection (2) may subdelegate.\n> \n> **s 25:** Am 2025 No 48, Sch 4.7.","sortOrder":36},{"sectionNumber":"26","sectionType":"section","heading":"Prescribed delegates and subdelegates for transport GSF agencies","content":"#### 26 Prescribed delegates and subdelegates for transport GSF agencies\n\n26 Prescribed delegates and subdelegates for transport GSF agencies\n\n> > (1) For the Act, section 9.9(2)(f), a member of the Transport Service of New South Wales who is not a government officer of a transport GSF agency for which the Minister is the responsible Minister is prescribed.\n> \n> > (2) For the Act, section 9.9(5), table, item 4, paragraph (b), a member of the Transport Service of New South Wales who is not a government officer of a transport GSF agency is prescribed.\n> \n> > (3) For the Act, section 9.9(5), table, item 6, paragraph (b), a member of the Transport Service of New South Wales who is not a government officer of a transport GSF agency is prescribed.\n> \n> > (4) For the Act, section 9.11(1)(b), a member of the Transport Service of New South Wales who is not a government officer of a transport GSF agency is prescribed.\n> \n> > (5) For the Act, section 9.11(4), table, item 1, paragraph (b), a member of the Transport Service of New South Wales who is not a government officer of the agency concerned is prescribed.\n> \n> > (6) In this section—\n> > \n> > transport GSF agency means—\n> > \n> > > (a) a transport authority within the meaning of the [Transport Administration Act 1988](/view/html/inforce/current/act-1988-109), Part 6B, or\n> > \n> > > (b) a public subsidiary corporation within the meaning of the [Transport Administration Act 1988](/view/html/inforce/current/act-1988-109), section 55C.","sortOrder":37},{"sectionNumber":"27","sectionType":"section","heading":"Prescribed delegates for Premier","content":"#### 27 Prescribed delegates for Premier\n\n27 Prescribed delegates for Premier\n\n> For the Act, section 9.9(2)(f), a person employed under the [Members of Parliament Staff Act 2013](/view/html/inforce/current/act-2013-041), Part 2 is prescribed.","sortOrder":38},{"sectionNumber":"28","sectionType":"section","heading":null,"content":"#### 28\n\n28 (Repealed)","sortOrder":39},{"sectionNumber":"29","sectionType":"section","heading":"Delegated expenditure functions—Independent Commission Against Corruption","content":"#### 29 Delegated expenditure functions—Independent Commission Against Corruption\n\n29 Delegated expenditure functions—Independent Commission Against Corruption\n\n> For the Act, section 9.9(5), table, item 3, paragraph (b), a Commissioner of the Independent Commission Against Corruption is prescribed as an entity to which the accountable authority for the Commission may subdelegate an expenditure function of a Minister in relation to the Commission.","sortOrder":41},{"sectionNumber":"30","sectionType":"section","heading":"Delegated expenditure functions—Inspector of the Independent Commission Against Corruption","content":"#### 30 Delegated expenditure functions—Inspector of the Independent Commission Against Corruption\n\n30 Delegated expenditure functions—Inspector of the Independent Commission Against Corruption\n\n> For the Act, section 9.9(2)(f), the Inspector of the Independent Commission Against Corruption is prescribed as an entity to which a Minister may delegate an expenditure function of the Minister in relation to the Inspector.","sortOrder":42},{"sectionNumber":"31","sectionType":"section","heading":"Delegated expenditure functions—Law Enforcement Conduct Commission","content":"#### 31 Delegated expenditure functions—Law Enforcement Conduct Commission\n\n31 Delegated expenditure functions—Law Enforcement Conduct Commission\n\n> > (1) For the Act, section 9.9(2)(f), a Commissioner of the Law Enforcement Conduct Commission is prescribed as an entity to which a Minister may delegate an expenditure function of the Minister in relation to the Commission.\n> \n> > (2) For the Act, section 9.9(5), table, item 4, paragraph (b), a Commissioner of the of the Law Enforcement Conduct Commission is prescribed as an entity to which the accountable authority for the Commission may subdelegate an expenditure function of a Minister in relation to the Commission.","sortOrder":43},{"sectionNumber":"32","sectionType":"section","heading":null,"content":"#### 32\n\n32\n\n**s 32:** Rep 2024 (611), Sch 1\\[7\\].","sortOrder":44},{"sectionNumber":"32A","sectionType":"section","heading":"Prescribed delegates and subdelegates for corporations constituted under Electricity Retained Interest Corporations Act 2015","content":"#### 32A Prescribed delegates and subdelegates for corporations constituted under Electricity Retained Interest Corporations Act 2015\n\n32A Prescribed delegates and subdelegates for corporations constituted under [Electricity Retained Interest Corporations Act 2015](/view/html/inforce/current/act-2015-006)\n\n> > (1) For the Act, section 9.11(1)(b), a government officer of the Treasury is prescribed as an entity to which the accountable authority of a corporation or subsidiary constituted by the [Electricity Retained Interest Corporations Act 2015](/view/html/inforce/current/act-2015-006) may delegate delegable functions.\n> \n> > (2) For the Act, section 9.11(4), table, item 2, a government officer of the Treasury is prescribed as an entity to which a delegate prescribed by subsection (1) may subdelegate.\n> \n> **s 32A:** Ins 2024 (611), Sch 1\\[8\\].","sortOrder":45},{"sectionNumber":"Part 7","sectionType":"part","heading":"Budget, appropriations and Special Deposits Account","content":"# Part 7 Budget, appropriations and Special Deposits Account\n\nPart 7 Budget, appropriations and Special Deposits Account","sortOrder":46},{"sectionNumber":"33","sectionType":"section","heading":"Consumer price adjustments for payments authorised on lapse of appropriation—the Act, section 4.10(4)(a)","content":"#### 33 Consumer price adjustments for payments authorised on lapse of appropriation—the Act, section 4.10(4)(a)\n\n33 Consumer price adjustments for payments authorised on lapse of appropriation—the Act, section 4.10(4)(a)\n\n> > (1) This section provides for the adjustment for changes in consumer prices in an annual reporting period for the NSW Government (the current period) of amounts appropriated under the annual Appropriation Act for the previous annual reporting period (the previous appropriated amount).\n> \n> > (2) The previous appropriated amount is to be adjusted by the percentage change in the Consumer Price Index (All Groups Index) for Sydney published by the Australian Bureau of Statistics between the March quarter immediately before the beginning of the current period compared with the March quarter immediately before the beginning of the previous annual reporting period.","sortOrder":47},{"sectionNumber":"34","sectionType":"section","heading":"Deemed appropriations—the Act, s 4.7","content":"#### 34 Deemed appropriations—the Act, s 4.7\n\n34 Deemed appropriations—the Act, s 4.7\n\n> > (1) For the Act, section 4.7(3), definition of deemed appropriation money, paragraphs (a) and (b), each of the following kinds of government money received or recovered by a GSF agency is prescribed—\n> > \n> > > (a) money from a fee, rent or charge for a service or customer good provided by the GSF agency to a customer, including—\n> > > \n> > > > (i) money from a surcharge charged for the use of a credit card to pay for a supplied service or good, and\n> > > \n> > > > (ii) money from interest or a charge paid for any overdue fee, rent or charge for a supplied service or good,\n> > \n> > > (b) money from a bequest, donation, sponsorship or gift made to the GSF agency by another entity, including money allocated to the GSF agency under the [Legal Profession Uniform Law Application Regulation 2015](/view/html/repealed/current/sl-2015-0330), clause 63,\n> > \n> > > (c) money from the proceeds of a sale or other disposal by the GSF agency of a minor asset,\n> > \n> > > (d) money paid to the GSF agency from the Treasury Managed Fund or by an insurer, including—\n> > > \n> > > > (i) any repayment to the agency of some or all of a contribution or premium paid to the Fund or an insurer, and\n> > > \n> > > > (ii) any payments made by MetLife Insurance Limited in full or partial settlement of any entitlement of a police officer in respect of injuries or other loss sustained by the officer,\n> > \n> > > (e) money paid to the GSF agency as compensation under a judgment of a court or tribunal or in a settlement of proceedings for compensation, including any interest payable on the amount of compensation,\n> > \n> > > (f) money from a Commonwealth grant or other payment, except a general purpose Commonwealth grant, paid to the GSF agency for its benefit,\n> > \n> > > (g) money from returns on investments and derivative arrangements made by or on behalf of the GSF agency, including—\n> > > \n> > > > (i) interest received by the agency from a banking account of the agency, and\n> > > \n> > > > (ii) interest payments made to the agency by the Treasury instead of interest received by the agency from a banking account of the agency as a result of the operation of banking account structuring under a State financial service agreement, and\n> > > \n> > > > (iii) interest from a loan made by or on behalf of the agency,\n> > \n> > > (h) money from a grant, contribution or subsidy provided to the GSF agency to cover some or all of the cost of a service or good the agency is responsible for providing,\n> > \n> > > (i) money from a refund or rebate received or recovered by the GSF agency in respect of a purchase made by the agency\n> > \n> > > (j) money received or recovered by a GSF agency (the delivering agency) from another GSF agency for the purposes of meeting some or all of the costs and expenses of a program, project, service or good that the delivering agency delivers or provides.\n> \n> > (2) Subsection (1)(d), (e), (f) and (h) apply regardless of whether the money concerned was paid to the GSF agency for its own benefit or for the benefit of another entity.\n> \n> > (3) An appropriation under the Act, section 4.7 of money of the kind referred to in subsection (1)(h) is subject to the condition that it may only be spent in accordance with any terms or conditions applicable to the grant, contribution or subsidy concerned.\n> \n> > (4) The kinds of government money prescribed by this section extend to government money received or recovered before the commencement of the Act, section 4.7.\n> \n> > (5) An appropriation under the Act, section 4.7 of government money is taken to have been given—\n> > \n> > > (a) for money received or recovered before the commencement of the Act, section 4.7 for which expenditure occurred before that commencement—on the day the money was received or recovered, and\n> > \n> > > (b) for money received or recovered after the commencement of the Act, section 4.7—on the day the money was received or recovered, and\n> > \n> > > (c) otherwise—on the day which the Act, section 4.7 commenced.\n> \n> > (6) In this section—\n> > \n> > minor asset means an asset with an acquisition cost of less than $200,000, but does not include—\n> > \n> > > (a) a customer good, or\n> > \n> > > (b) a building, or an interest in land or a building.\n> \n> **s 34:** Am 2025 (503), Sch 1\\[13\\].","sortOrder":48},{"sectionNumber":"35","sectionType":"section","heading":"Working accounts—the Act, s 4.17","content":"#### 35 Working accounts—the Act, s 4.17\n\n35 Working accounts—the Act, s 4.17\n\n> > (1) For the Act, section 4.17(1) and (4), a GSF agency may establish and operate a working account only if—\n> > \n> > > (a) the accountable authority for the agency applies to the Treasurer, in a form approved by the Treasurer, for authorisation to establish and operate the account, and\n> > \n> > > (b) the Treasurer gives written authorisation for the account to be established and operated.\n> \n> > (2) Without limiting subsection (1)(b), the written authorisation may specify—\n> > \n> > > (a) the kinds of working account money that may be paid into the working account, and\n> > \n> > > (b) the purposes for which money may be paid out of the working account, and\n> > \n> > > (c) the use of investment returns on the money in the working account, and\n> > \n> > > (d) any other terms or conditions relating to the establishment or operation of the working account.\n> \n> > (3) For the Act, section 4.17(4)(d), the Treasurer may, by written order given to the accountable authority for a GSF agency, direct that—\n> > \n> > > (a) the working account specified in the order is to be dissolved, and\n> > \n> > > (b) money in the account is to be paid into—\n> > > \n> > > > (i) the Consolidated Fund, or\n> > > \n> > > > (ii) another specified working account of a GSF agency.\n> \n> > (4) For the Act, section 4.17(2), definition of working account money, each of the following sources of money is prescribed regardless of whether or not the money is also deemed appropriation money—\n> > \n> > > (a) money from a fee, rent or charge for a service or customer good provided by the GSF agency to a customer, including—\n> > > \n> > > > (i) money from a surcharge charged for the use of a credit card to pay for a supplied service or good, and\n> > > \n> > > > (ii) money from interest or a charge paid for any overdue fee, rent or charge for a supplied service or good,\n> > \n> > > (b) money from rent for land or a building paid to the GSF agency by another entity for a lease the other entity has over the land or building,\n> > \n> > > (c) money from a bequest, donation, sponsorship or gift made to the GSF agency by another entity, including money allocated to the GSF agency under the [Legal Profession Uniform Law Application Regulation 2015](/view/html/repealed/current/sl-2015-0330), clause 63,\n> > \n> > > (d) money from the proceeds of a sale or other disposal by the GSF agency of an asset unless legislation, other than the Act or the [Constitution Act 1902](/view/html/inforce/current/act-1902-032), specifically requires the money to be paid into the Consolidated Fund,\n> > \n> > > (e) money paid to the GSF agency from the Treasury Managed Fund or by an insurer, including—\n> > > \n> > > > (i) any repayment to the agency of some or all of a contribution or premium paid to the Fund or an insurer, and\n> > > \n> > > > (ii) any payments made by MetLife Insurance Limited in full or partial settlement of any entitlement of a police officer in respect of injuries or other loss sustained by the officer,\n> > \n> > > (f) money paid to the GSF agency as compensation under a judgment of a court or tribunal or in a settlement of proceedings for compensation, including any interest payable on the amount of compensation,\n> > \n> > > (g) money from a Commonwealth grant or other payment, except a general purpose Commonwealth grant, paid to the GSF agency for its benefit,\n> > \n> > > (h) money from returns on investments and derivative arrangements made by or on behalf of the GSF agency, including—\n> > > \n> > > > (i) interest received by the agency from a banking account of the agency, and\n> > > \n> > > > (ii) interest payments made to the agency by the Treasury instead of interest received by the agency from a banking account of the agency as a result of the operation of banking account structuring under a State financial service agreement, and\n> > > \n> > > > (iii) interest from a loan made by or on behalf of the agency,\n> > \n> > > (i) money from a grant, contribution or subsidy provided to the GSF agency to cover some or all of the cost of a service or good the agency is responsible for providing,\n> > \n> > > (j) money from a refund or rebate received or recovered by the GSF agency in respect of a purchase made by the agency,\n> > \n> > > (k) money from a loan provided to the GSF agency under a financial arrangement that is authorised for the purposes of the Act, section 6.22,\n> > \n> > > (l) money directed to be paid into the working account concerned in an order made by the Treasurer under subsection (3),\n> > \n> > > (m) money received or recovered by the GSF agency (the delivering agency) from another GSF agency for the purposes of meeting some or all of the costs and expenses of a program, project, service or good the delivering agency delivers or provides.\n> > \n> > Note—\n> > \n> > The fact that money is prescribed to be working account money does not mean it must be paid into a working account. The Act, section 4.17(1) provides that a GSF agency may establish and operate a working account in the circumstances permitted by the regulations.\n> \n> > (5) Subsection (4)(b), (e), (f), (g) and (i) apply regardless of whether the money concerned was paid to the GSF agency for its own benefit or for the benefit of another entity.\n> \n> > (6) To avoid doubt, subsection (4) includes money received by the GSF agency from any other entity, including from another GSF agency.","sortOrder":49},{"sectionNumber":"Part 8","sectionType":"part","heading":"Expenditure and gifts","content":"# Part 8 Expenditure and gifts\n\nPart 8 Expenditure and gifts","sortOrder":50},{"sectionNumber":"36","sectionType":"section","heading":"Relevant tax-equivalent regimes","content":"#### 36 Relevant tax-equivalent regimes\n\n36 Relevant tax-equivalent regimes\n\n> > (1) For the Act, section 5.3(5), definition of relevant tax-equivalent regime, the following arrangements are prescribed—\n> > \n> > > (a) the national tax-equivalent regime,\n> > \n> > > (b) the State tax-equivalent regime.\n> \n> > (2) In this section—\n> > \n> > Intergovernmental Agreement means the Intergovernmental Agreement on Federal Financial Relations entered into by the parties to the Council of Australian Governments, as in force from time to time.\n> > \n> > national tax-equivalent regime means the arrangements between the Commonwealth and the States and Territories relating to income tax-equivalent payments to be made by government businesses under a National Tax-Equivalent Regime, as referred to in Schedule B of the Intergovernmental Agreement and given effect to from time to time by a memorandum of understanding between the Commonwealth, the Commissioner of Taxation of the Commonwealth and the States and Territories.\n> > \n> > State tax-equivalent regime means the arrangements approved from time to time by the Treasurer relating to income tax-equivalent payments to be made by government businesses that are not subject to the national tax-equivalent regime.","sortOrder":51},{"sectionNumber":"37","sectionType":"section","heading":"Act of grace payments—the Act, s 5.7(4)(c)","content":"#### 37 Act of grace payments—the Act, s 5.7(4)(c)\n\n37 Act of grace payments—the Act, s 5.7(4)(c)\n\n> The following are prescribed—\n> \n> > (a) a person employed in or by the NSW Health Service,\n> \n> > (b) a member of the NSW Police Force.","sortOrder":52},{"sectionNumber":"Part 9","sectionType":"part","heading":"Miscellaneous","content":"# Part 9 Miscellaneous\n\nPart 9 Miscellaneous","sortOrder":53},{"sectionNumber":"38","sectionType":"section","heading":"Repeal and savings","content":"#### 38 Repeal and savings\n\n38 Repeal and savings\n\n> > (1) The [Government Sector Finance Regulation 2018](/view/html/repealed/current/sl-2018-0685) is repealed\n> \n> > (2) An act, matter or thing that, immediately before the repeal of the [Government Sector Finance Regulation 2018](/view/html/repealed/current/sl-2018-0685), had effect under that regulation continues to have effect under this regulation.","sortOrder":54},{"sectionNumber":"Schedule 1","sectionType":"schedule","heading":"Entities that are GSF agencies","content":"# Schedule 1 Entities that are GSF agencies\n\nSchedule 1 Entities that are GSF agencies\n\nsection 4(1)\n\nAgricultural industry services committee constituted by the [Agricultural Industry Services Act 1998](/view/html/inforce/current/act-1998-045)\n\nC. B. Alexander Foundation\n\nThe FANMAC trustee within the meaning of the [Housing Act 2001](/view/html/inforce/current/act-2001-052), Schedule 4\n\nLegal Profession Admission Board constituted under the [Legal Profession Uniform Law Application Act 2014](/view/html/inforce/current/act-2014-016)\n\nLiability Management Ministerial Corporation constituted under the [General Government Liability Management Fund Act 2002](/view/html/inforce/current/act-2002-060)\n\nLuna Park Reserve Trust\n\nMental Health Commission of New South Wales\n\nNatural Resources Commission\n\nNSW Architects Registration Board\n\nOffice of Transport Safety Investigations\n\nRice Marketing Board constituted under the [Rice Marketing Act 1983](/view/html/inforce/current/act-1983-176)\n\nThe Trustee of the Home Purchase Assistance Fund\n\nThe Trustees of the Anzac Memorial Building\n\nThe Trustees of the Museum of Applied Arts and Sciences\n\nThe Trustees of the Parliamentary Contributory Superannuation Fund\n\nVeterinary Practitioners Board\n\nWentworth Park Sporting Complex Land Manager constituted under the [Crown Land Management Act 2016](/view/html/inforce/current/act-2016-058)","sortOrder":55},{"sectionNumber":"Schedule 2","sectionType":"schedule","heading":"Prescribed government officers","content":"# Schedule 2 Prescribed government officers\n\nSchedule 2 Prescribed government officers\n\nsection 7(2)\n\n|  | Column 1 | Column 2 |\n|  | GSF agency | Prescribed government officer |\n| 1 | Premier’s Department | Public Service Commissioner appointed under the Government Sector Employment Act 2013. |\n| 2 | Department of Education | Each of the following is prescribed for the Department—(a) a member of the Teaching Service,(b) a person employed under the Education (School Administrative and Support Staff) Act 1987. |\n| 3 | Department of Communities and Justice | Each of the following is prescribed for the Department—(a) the Advocate for Children and Young People appointed under the Advocate for Children and Young People Act 2014,(b) the Registrar appointed under the Community Housing Providers (Adoption of National Law) Act 2012, section 10(c) the Ageing and Disability Commissioner appointed under the Ageing and Disability Commissioner Act 2019,(d) during an emergency within the meaning of the State Emergency and Rescue Management Act 1989—government officers from another GSF agency who temporarily work in an evacuation centre. |\n| 4 | Department of Planning, Housing and Infrastructure | The Valuer-General. |\n| 5 | Department of Primary Industries and Regional Development | Each of the following is prescribed for the Department—(a) the Independent Biosecurity Commissioner appointed under the Biosecurity Act 2015,(b) the Agriculture Commissioner appointed under the Agriculture Commissioner Act 2024. |\n| 6 | Transport for NSW | Each of the following is prescribed for Transport for NSW—(a) the Point to Point Transport Commissioner appointed under the Point to Point Transport (Taxis and Hire Vehicles) Act 2016,(b) an employee of Serco Australia Pty Limited (ABN 44 003 677 352), but only in connection with the exercise of expenditure functions for or on behalf of Transport for NSW,(c) an employee of Cubic Transportation Systems (Australia) Pty Limited (ABN 82 003 617 561), but only in connection with the exercise of expenditure functions for or on behalf of Transport for NSW. |\n| 7 | NSW Self Insurance Corporation | A person authorised under an insurance services contract to exercise expenditure functions (regardless of whether the person is a party to that contract) is prescribed for the Corporation, but only in connection with the exercise of those functions that the person is authorised to exercise under the contract. |\n| 8 | Office of the NSW State Emergency Service | Each of the following is prescribed for the Service—(a) a NSW State Emergency Service Local and Unit Commander (volunteer role),(b) a NSW State Emergency Service Local and Unit Deputy Commander (volunteer role),(c) during and for an operational event—(i) a State Duty Operations Controller,(ii) a Deputy State Duty Operations Controller,(iii) a State Logistics Officer,(iv) an Incident Controller (Zone or Area of Operations),(v) a Deputy Incident Controller (Zone or Area of Operations),(vi) a Logistics Officer (Zone or Area of Operations),(vii) a Unit Incident Officer,(viii) a Unit Logistics Officer. |\n| 9 | Statutory health organisation | A person appointed under the Health Services Act 1997, Chapter 8 as a visiting practitioner. |\n\n**sch 2:** Am 2024 No 77, Sch 3.3; 2026 (62), Sch 1.","sortOrder":56},{"sectionNumber":"Schedule 3","sectionType":"schedule","heading":null,"content":"# Schedule 3\n\nSchedule 3 (Repealed)\n\n**sch 3:** Am 2024 (611), Sch 1\\[9\\]. Rep 2024 (251), sec 22.","sortOrder":58}],"analysis":{"flash_summary":{"complexity_score":6,"scope_assessment":{"changed":true,"description":"This instrument replaces the Government Sector Finance Regulation 2018 and updates scope and rules: it prescribes new financial instruments as borrowings/investments/joint ventures (ss10–12), revises reporting‑exemption categories and numeric thresholds for small and specialised agencies (ss15,15A,16–19A), adds and clarifies prescribed GSF agencies and officers (Schs 1–2), and formalises Treasurer and accountable authority powers over working accounts and delegations (s35; ss25–32A). The changes redefine which entities report, how transactions are classified, and who may authorise or subdelegate expenditure."},"complexity_factors":["Extensive cross-references to the Government Sector Finance Act 2018 and multiple other Acts, requiring readers to consult primary legislation for full effect (throughout; e.g. definitions and operation of Parts).","Detailed definitions of financial instruments and arrangements (social benefit bonds, supplier finance, bank guarantees, leases, letters of comfort/support) that determine accounting/treatment (Part 4, s9; ss10–12).","Multiple, numerically‑specified reporting exemption thresholds and categories (small agencies, small controlled agencies, Crown land managers, common trusts, retained State interest entities, ERIC subsidiaries) which vary by asset, cash and income caps (Part 5, Div 2; ss15,15A,16–19A).","Prescriptive treatment of appropriations, deemed appropriations and working account money with conditions and exclusions, and Treasurer authorisation powers creating administrative processes and conditional spending rules (Part 7; ss34–35).","Delegation and subdelegation rules differing by agency type (Judicial Commission, transport agencies, ERIC corporations, ICAC, LECC), producing varied delegation chains and role‑specific limits (Part 6; ss25–32A).","Schedules listing prescribed GSF agencies and prescribed government officers, producing operational scope that must be reconciled with agency structures (Schedules 1–2).","Interaction with Australian Accounting Standards for key terms (assets, liabilities, contingent liabilities, commitments), meaning accounting treatment affects reporting obligations (Part 5, s14).","Use of contingent liabilities and retained State interest concepts that impose ongoing disclosure obligations and potential fiscal exposure for agencies (Part 5, ss14,19).","Transitional and repeal provisions preserving prior acts, so historical transactions remain effective under the new regulation, complicating compliance for entities with legacy arrangements (s38)."],"plain_english_summary":"This regulation replaces the 2018 rules and sets which public entities are GSF agencies, which financial arrangements count as borrowings, investments or joint ventures, and the reporting exemptions, delegation and budget procedures that apply. It affects GSF agencies, accountable authorities, Ministers and Treasury because it allocates decision‑making (for example, Treasury authorises working accounts), establishes reporting thresholds and contingent‑liability classifications, and creates disclosure and compliance tasks that agencies must fund and administer (see s35)."},"issue_detection":{"absurdities":[],"contradictions":[]},"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"summary":{"complexity_score":6,"scope_assessment":{"changed":true,"description":"Based on the frequency of amendments (7 versions between June 2024 and February 2026), the regulation's scope has likely been adjusted and expanded from its original form. This pattern of rapid amendment suggests the regulation has been refined in response to implementation issues, policy changes, or the need to bring additional entities or financial arrangements within its coverage. Without access to the full text and amendment histories, the precise nature of scope changes cannot be confirmed, but the amendment frequency is a strong indicator of evolving coverage."},"complexity_factors":["Operates as delegated legislation (a regulation) under a parent Act, requiring understanding of both instruments together","Multiple amendments since commencement (at least 7 versions in under 2 years), creating a layered amendment history that is difficult to track","Applies across a wide and varied range of government entities with potentially different obligations","Interacts with broader public sector financial management frameworks, accounting standards, and Treasury directions","Staged repeal mechanism adds a temporal complexity dimension — the regulation has a built-in expiry requiring monitoring","Full text not available in the provided excerpt, meaning the actual substantive provisions (which are likely detailed and technical) cannot be assessed — but government finance regulations are typically dense with defined terms, thresholds, and procedural requirements","NSW-specific framework that may differ from Commonwealth or other state equivalents, limiting transferable knowledge"],"plain_english_summary":"This regulation, made under the Government Sector Finance Act 2018, is the detailed financial rulebook for NSW government agencies, setting day-to-day requirements for budgeting, spending, reporting and accountability.\n\nIt affects departments, statutory bodies and public servants who manage public money, and matters because it governs how taxpayer funds are handled. It has been amended several times and is due for automatic repeal on 1 September 2029."},"kimi_summary":{"content_quality":"ok","complexity_score":6,"scope_assessment":{"changed":false,"description":"The regulation appears consistent with its original purpose as a machinery provision supporting the Government Sector Finance Act 2018. While it has been amended to add new entity types (Voluntary Assisted Dying Board, ERIC subsidiaries) and refine reporting thresholds, these represent natural evolution of the financial management framework rather than scope creep into unrelated policy areas."},"complexity_factors":["Multiple cross-references to the parent Act (Government Sector Finance Act 2018) and other legislation (Teaching Service Act, Heritage Act, etc.)","Nested conditional logic in reporting exemptions — sections 15, 15A, 16, and 17 each contain 4-5 cumulative criteria that must ALL be met","Context-specific definitions — terms like 'assurer', 'bank guarantee', and 'commitment' are defined separately for specific Parts rather than globally","Delegated legislative authority — many provisions simply 'prescribe' things that the Act authorises the regulation to prescribe, creating a two-layer legal structure","Multiple amendment notes indicating evolving structure (sections repealed, inserted, and renumbered in 2024 and 2025)","Threshold-based categorisation with different dollar amounts for different entity types ($5M vs $20M depending on whether controlled entity, Crown land manager, etc.)","Schedule-based entity listing requiring cross-checking against other Acts to understand scope"],"plain_english_summary":"This regulation sets out the detailed rules for how New South Wales government agencies manage their money, report their finances, and delegate decision-making powers. It works alongside the main Government Sector Finance Act 2018.\n\n**Key things it does:**\n\n- **Defines which organisations count as 'GSF agencies'** (government bodies covered by these rules), including specific entities like the Voluntary Assisted Dying Board, various trusts, and certain corporations.\n\n- **Sets financial thresholds for reporting exemptions** — small agencies with assets, income and expenses under $5 million (or $20 million in some cases) may not need to produce full financial statements if they meet other criteria.\n\n- **Prescribes specific financial arrangements** — it formally classifies things like social benefit bonds, bank guarantees, supplier finance arrangements, and leases as either 'borrowings' or 'investments' under the Act.\n\n- **Rules on working accounts** — agencies can set up special bank accounts for specific purposes (like fees or donations), but need Treasurer approval first.\n\n- **Deemed appropriations** — it lists types of money that agencies can keep and spend without needing a specific annual budget allocation, including fees, insurance payouts, compensation, and investment returns.\n\n- **Delegation rules** — it specifies who can make financial decisions on behalf of ministers and agency heads, including staff of the Judicial Commission, Transport Service members, and certain contractors.\n\n- **Annual reporting format** — it mandates six specific headings for agency annual reports: Overview, Strategy, Operations and performance, Management and accountability, Sustainability, and Financial performance.\n\n**Who it affects:**\nAnyone working in NSW government agencies (especially finance officers), ministers, the Treasurer, and entities that do business with the government. It also affects small agencies trying to determine if they need to produce full financial statements.\n\n**Why it matters:**\nThis is the operational rulebook for billions of dollars of public money. It determines which agencies must produce audited accounts, how agencies can borrow or invest, who can sign off on spending, and what happens to money from fees, fines, and donations."}},"importantCases":[],"_links":{"self":"/api/acts/government-sector-finance-regulation-2024","history":"/api/acts/government-sector-finance-regulation-2024/history","analysis":"/api/acts/government-sector-finance-regulation-2024/analysis","conflicts":"/api/acts/government-sector-finance-regulation-2024/conflicts","importantCases":"/api/acts/government-sector-finance-regulation-2024/important-cases","documents":"/api/acts/government-sector-finance-regulation-2024/documents"}}