sec.49Treasury offset account

### sec.49 Treasury offset account The Treasurer must establish— in the treasury department, an account called the ‘treasury offset account’ for recording transactions about the matters mentioned in section 50 ; and at a financial institution, an account relating to the treasury offset account called the ‘treasury offset bank account’. For this Act— the treasury offset account is taken to be a departmental account; and the treasury offset bank account is taken to be a departmental financial institution account. (sec.49-ssec.1) The Treasurer must establish— in the treasury department, an account called the ‘treasury offset account’ for recording transactions about the matters mentioned in section 50 ; and at a financial institution, an account relating to the treasury offset account called the ‘treasury offset bank account’. (sec.49-ssec.2) For this Act— the treasury offset account is taken to be a departmental account; and the treasury offset bank account is taken to be a departmental financial institution account. - (a) in the treasury department, an account called the ‘treasury offset account’ for recording transactions about the matters mentioned in section 50 ; and - (b) at a financial institution, an account relating to the treasury offset account called the ‘treasury offset bank account’. - (a) the treasury offset account is taken to be a departmental account; and - (b) the treasury offset bank account is taken to be a departmental financial institution account.