{"id":"sr:treasury-corporation-victoria-prescribed-agencies-regulations-2024","name":"Treasury Corporation of Victoria (Prescribed Agencies) Regulations 2024","slug":"treasury-corporation-of-victoria-prescribed-agencies-regulations-2024","collection":"regulation","jurisdiction":"vic","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":181476,"registerId":"vic-sr:treasury-corporation-victoria-prescribed-agencies-regulations-2024-current","compilationNumber":null,"startDate":"2026-04-05","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Treasury Corporation of Victoria (Prescribed Agencies) Regulations 2024","content":"Version No. 002\n\n**Treasury Corporation of Victoria (Prescribed Agencies) Regulations 2024**\n\n**S.R. No. 68/2024**\n\nVersion incorporating amendments as at  \n15 October 2024\n\n**TABLE OF PROVISIONS**\n\n*Regulation Page*\n\n1 Objective 1\n\n2 Authorising provision 1\n\n3 Commencement 1\n\n4 Revocations 1\n\n5 Prescribed agencies 2\n\n═════════════\n\nEndnotes 3\n\n1 General information 3\n\n2 Table of Amendments 5\n\n3 Explanatory details 6\n\n**Version No.** **002**\n\n**Treasury Corporation of Victoria (Prescribed Agencies) Regulations 2024**\n\n**S.R. No. 68/2024**\n\nVersion incorporating amendments as at  \n15 October 2024\n\n\t1 Objective\n\nThe objective of these Regulations is to prescribe certain bodies as bodies to which the **Treasury Corporation of Victoria Act 1992** applies.\n\n\t2 Authorising provision\n\nThese Regulations are made under section 44 of the **Treasury Corporation of Victoria Act 1992**.\n\n\t3 Commencement\n\nThese Regulations come into operation on 14 July 2024.\n\n\t4 Revocations\n\nThe following Regulations are **revoked**—\n\n(a) the Treasury Corporation of Victoria (Prescribed Agencies) Regulations 2014[[1]](#endnote-1);\n\n(b) the Treasury Corporation of Victoria (Prescribed Agencies) Amendment Regulations 2015[[2]](#endnote-2);\n\n(c) the Treasury Corporation of Victoria (Prescribed Agencies) Amendment Regulations 2017[[3]](#endnote-3).\n\n\t5 Prescribed agencies\n\nFor the purposes of the definition of ***prescribed agency*** in section 3 of the **Treasury Corporation of Victoria Act 1992**, the following bodies are prescribed—\n\nReg. 5(a) amended by S.R. No. 112/2024 reg. 3(a).\n\n(a) Agriculture Victoria Services Pty Ltd (ACN 006 598 198);\n\nReg. 5(b) amended by S.R. No. 112/2024 reg. 3(b).\n\n(b) Rolling Stock Holdings (Victoria) Pty Limited (ACN 104 780 056);\n\nReg. 5(c) inserted by S.R. No. 112/2024 reg. 3(c).\n\n(c) SEC Energy Pty Ltd (ACN 670 408 134);\n\nReg. 5(d) inserted by S.R. No. 112/2024 reg. 3(c).\n\n(d) SEC Infrastructure Pty Ltd (ACN 670 408 125);\n\nReg. 5(e) inserted by S.R. No. 112/2024 reg. 3(c).\n\n(e) SEC Victoria Pty Ltd (ACN 670 408 116).\n\n═════════════\n\nEndnotes\n\n1 General information\n\nSee [www.legislation.vic.gov.au](http://www.legislation.vic.gov.au) for Victorian Bills, Acts and current Versions of legislation and up-to-date legislative information.\n\nThe Treasury Corporation of Victoria (Prescribed Agencies) Regulations 2024, S.R. No. 68/2024 were made on 2 July 2024 by the Governor in Council under section 44 of the **Treasury Corporation of Victoria Act 1992**, No. 80/1992 and came into operation on 14 July 2024: regulation 3.\n\nThe Treasury Corporation of Victoria (Prescribed Agencies) Regulations 2024 will sunset 10 years after the day of making on 2 July 2034 (see section 5 of the **Subordinate Legislation Act 1994**).\n\nINTERPRETATION OF LEGISLATION ACT 1984 (ILA)\n\nStyle changes\n\nSection 54A of the ILA authorises the making of the style changes set out in Schedule 1 to that Act.\n\nReferences to ILA s. 39B\n\nSidenotes which cite ILA s. 39B refer to section 39B of the ILA which provides that where an undivided regulation, rule or clause of a Schedule is amended by the insertion of one or more subregulations, subrules or subclauses the original regulation, rule or clause becomes subregulation, subrule or subclause (1) and is amended by the insertion of the expression \"(1)\" at the beginning of the original regulation, rule or clause.\n\nInterpretation\n\nAs from 1 January 2001, amendments to section 36 of the ILA have the following effects:\n\n• Headings\n\nAll headings included in a Statutory Rule which is made on or after  \n1 January 2001 form part of that Statutory Rule. Any heading inserted in a Statutory Rule which was made before 1 January 2001, by a Statutory Rule made on or after 1 January 2001, forms part of that Statutory Rule.  \nThis includes headings to Parts, Divisions or Subdivisions in a Schedule; Orders; Parts into which an Order is divided; clauses; regulations; rules; items; tables; columns; examples; diagrams; notes or forms.  \nSee section 36(1A)(2A)(2B).\n\n• Examples, diagrams or notes\n\nAll examples, diagrams or notes included in a Statutory Rule which is made on or after 1 January 2001 form part of that Statutory Rule. Any examples, diagrams or notes inserted in a Statutory Rule which was made before 1 January 2001, by a Statutory Rule made on or after 1 January 2001, form part of that Statutory Rule. See section 36(3A).\n\n• Punctuation\n\nAll punctuation included in a Statutory Rule which is made on or after  \n1 January 2001 forms part of that Statutory Rule. Any punctuation inserted in a Statutory Rule which was made before 1 January 2001, by a Statutory Rule made on or after 1 January 2001, forms part of that Statutory Rule.  \nSee section 36(3B).\n\n• Provision numbers\n\nAll provision numbers included in a Statutory Rule form part of that Statutory Rule, whether inserted in the Statutory Rule before, on or after  \n1 January 2001. Provision numbers include regulation numbers, rule numbers, subregulation numbers, subrule numbers, paragraphs and subparagraphs. See section 36(3C).\n\n• Location of \"legislative items\"\n\nA \"legislative item\" is a penalty, an example or a note. As from 13 October 2004, a legislative item relating to a provision of a Statutory Rule is taken to be at the foot of that provision even if it is preceded or followed by another legislative item that relates to that provision. For example, if a penalty at the foot of a provision is followed by a note, both of these legislative items will be regarded as being at the foot of that provision. See section 36B.\n\n• Other material\n\nAny explanatory memorandum, table of provisions, endnotes, index and other material printed after the Endnotes does not form part of a Statutory Rule. See section 36(3)(3D)(3E).\n\n2 Table of Amendments\n\nThis publication incorporates amendments made to the Treasury Corporation of Victoria (Prescribed Agencies) Regulations 2024 by statutory rules, subordinate instruments and Acts.\n\n–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––\n\nTreasury Corporation of Victoria (Prescribed Agencies) Amendment Regulations 2024, S.R. No. 112/2024\n\n| *Date of Making:* | 15.10.24 |\n| --- | --- |\n| *Date of Commencement:* | 15.10.24 |\n\n\n–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––\n\n3 Explanatory details\n\n1. Reg. 4(a): S.R. No. 101/2014 as amended by S.R. Nos 5/2015 and 80/2017. [↑](#endnote-ref-1)\n\n2. Reg. 4(b): S.R. No. 5/2015. [↑](#endnote-ref-2)\n\n3. Reg. 4(c): S.R. No. 80/2017. [↑](#endnote-ref-3)","sortOrder":0}],"analysis":{"issue_detection":{"absurdities":[],"contradictions":[]},"kimi_summary":{"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"The legislation maintains its original narrow purpose: listing which bodies are subject to the parent Act. The 2024 version expands the list to include new SEC entities, but this is consistent with the original intent of capturing government-owned commercial bodies as they are created or restructured. No mission creep detected."},"complexity_factors":["Only 5 substantive regulations, with the core content in a single list (Regulation 5)","No defined terms within the instrument itself – relies entirely on definitions in the parent Act","No conditional logic, exceptions, or nested provisions","No cross-references to other legislation except the enabling Act","Straightforward amendment history tracked through endnotes rather than complex integration","Total length: approximately 2 pages of substantive content"],"plain_english_summary":"**What this legislation does:**\n\nThese regulations are essentially a **name list**. They tell us which specific government-owned companies in Victoria must follow the rules set out in the *Treasury Corporation of Victoria Act 1992*.\n\n**Who it affects:**\n\nFive specific companies are now on the hook:\n- **Agriculture Victoria Services Pty Ltd** – handles commercial services for the state's agriculture department\n- **Rolling Stock Holdings (Victoria) Pty Limited** – owns and leases trains and trams to public transport operators\n- **SEC Energy Pty Ltd** – the new government energy company (part of the revived State Electricity Commission)\n- **SEC Infrastructure Pty Ltd** – another piece of the revived State Electricity Commission, handling infrastructure\n- **SEC Victoria Pty Ltd** – the main holding company for the revived State Electricity Commission\n\n**Why it matters:**\n\nBeing \"prescribed\" under this Act means these companies can access special government banking and financial services through Treasury Corporation of Victoria (TCV). TCV is essentially the government's own bank – it raises money for the state and lends it to government entities at better rates than commercial banks.\n\nThis is particularly significant for the three new SEC companies (c, d, and e), which were added in October 2024. It shows the government is setting up the financial plumbing for its plan to bring energy generation and infrastructure back into public hands.\n\nThe regulations also **revoke** (cancel) three older sets of regulations from 2014, 2015, and 2017, cleaning up the rulebook."},"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"},"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":true,"description":"The instrument updates the list of entities captured as \"prescribed agencies\" by revoking earlier regulations (Reg 4) and adding or amending entries in Reg 5 — including entities added by S.R. No. 112/2024 (see Table of Amendments and Reg 5 annotations). That alters which corporate bodies fall within the Treasury Corporation of Victoria Act 1992’s legal regime and shifts compliance obligations accordingly."},"complexity_factors":["Single-purpose, short instrument: primary effect is to prescribe agencies and revoke prior regulations (Reg 5; Reg 4).","Dependence on external statute: effect and obligations flow from the Treasury Corporation of Victoria Act 1992, which is not reproduced here (Reg 2; definition reference in Reg 5).","Amendment history and cross-references: recent amendments inserted new entities via S.R. No. 112/2024, requiring attention to historical versions (Table of Amendments; Reg 5 notes).","Precise corporate identification: prescribed bodies listed by corporate name and ACN, so accuracy of identification matters for applicability (Reg 5).","Administrative timings and lifecycle: explicit commencement date and endnote note of 10‑year sunset require calendaring for compliance and review (Reg 3; Endnotes)."],"plain_english_summary":"These Regulations (commencing 14 July 2024) designate certain corporate bodies as \"prescribed agencies\" under the Treasury Corporation of Victoria Act 1992 (reg 5), bringing those entities within that Act’s legal framework. They revoke earlier prescribed‑agency regulations (reg 4), changing which companies are subject to the Act and therefore to the Act’s administrative, financial and governance requirements."},"summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"The regulation appears consistent with its original intent — maintaining an up-to-date list of prescribed agencies eligible to access Treasury Corporation of Victoria services. This is a routine regulatory update with no evident expansion or contraction of scope beyond what the parent Act contemplates."},"complexity_factors":["Narrow, administrative scope — simply prescribes a list of agencies","Operates within a well-established legislative framework (the Treasury Corporation of Victoria Act)","No novel legal concepts or obligations created for private individuals","Limited analysis possible due to minimal substantive content provided in the legislation text — the document appears to be largely metadata/version history rather than full legislative text","Technical financial/government law context may be unfamiliar to laypeople but the regulation itself is straightforward"],"plain_english_summary":"This regulation updates which Victorian government bodies are officially recognised as “prescribed agencies” able to access the Treasury Corporation of Victoria’s borrowing and financial services. It affects government agencies (and, indirectly, taxpayers) because it determines which public bodies can use state-backed financing—often cheaper than commercial loans—and keeps the framework current as agencies change."}},"importantCases":[],"_links":{"self":"/api/acts/treasury-corporation-of-victoria-prescribed-agencies-regulations-2024","history":"/api/acts/treasury-corporation-of-victoria-prescribed-agencies-regulations-2024/history","analysis":"/api/acts/treasury-corporation-of-victoria-prescribed-agencies-regulations-2024/analysis","conflicts":"/api/acts/treasury-corporation-of-victoria-prescribed-agencies-regulations-2024/conflicts","importantCases":"/api/acts/treasury-corporation-of-victoria-prescribed-agencies-regulations-2024/important-cases","documents":"/api/acts/treasury-corporation-of-victoria-prescribed-agencies-regulations-2024/documents"}}