sec.53Corporation sole of The Treasurer of Queensland

### sec.53 Corporation sole of The Treasurer of Queensland The corporation sole constituted by the Treasurer under the Financial Administration and Audit Act 1977 , section 43 is continued in existence under the name The Treasurer of Queensland (the Treasurer ). The Treasurer — is a body corporate with perpetual succession; and has a seal; and may sue and be sued in the Treasurer’s corporate name. The Treasurer represents the State. Without limiting subsection (3) , the Treasurer has all the State’s privileges and immunities. The Treasurer has all the powers of an individual and may, for example— enter into contracts; and acquire, hold, dispose of, and deal with, property; and appoint agents and attorneys; and engage consultants; and fix charges, and other terms, for services the Treasurer supplies; and enter into derivative transactions; and do anything necessary or convenient to be done in the performance of the Treasurer’s functions under this or another Act. However, the Treasurer may enter into a derivative transaction only to hedge against a risk to which the State is or will be exposed. The Treasurer also has the powers conferred on the Treasurer by this or another Act. The Treasurer may exercise the Treasurer’s powers inside and outside Queensland. Without limiting subsection (8) , the Treasurer may exercise the Treasurer’s powers outside Australia. s 53 amd 2015 No. 4 s 54 (sec.53-ssec.1) The corporation sole constituted by the Treasurer under the Financial Administration and Audit Act 1977 , section 43 is continued in existence under the name The Treasurer of Queensland (the Treasurer ). (sec.53-ssec.2) The Treasurer — is a body corporate with perpetual succession; and has a seal; and may sue and be sued in the Treasurer’s corporate name. (sec.53-ssec.3) The Treasurer represents the State. (sec.53-ssec.4) Without limiting subsection (3) , the Treasurer has all the State’s privileges and immunities. (sec.53-ssec.5) The Treasurer has all the powers of an individual and may, for example— enter into contracts; and acquire, hold, dispose of, and deal with, property; and appoint agents and attorneys; and engage consultants; and fix charges, and other terms, for services the Treasurer supplies; and enter into derivative transactions; and do anything necessary or convenient to be done in the performance of the Treasurer’s functions under this or another Act. (sec.53-ssec.6) However, the Treasurer may enter into a derivative transaction only to hedge against a risk to which the State is or will be exposed. (sec.53-ssec.7) The Treasurer also has the powers conferred on the Treasurer by this or another Act. (sec.53-ssec.8) The Treasurer may exercise the Treasurer’s powers inside and outside Queensland. (sec.53-ssec.9) Without limiting subsection (8) , the Treasurer may exercise the Treasurer’s powers outside Australia. - (a) is a body corporate with perpetual succession; and - (b) has a seal; and - (c) may sue and be sued in the Treasurer’s corporate name. - (a) enter into contracts; and - (b) acquire, hold, dispose of, and deal with, property; and - (c) appoint agents and attorneys; and - (d) engage consultants; and - (e) fix charges, and other terms, for services the Treasurer supplies; and - (f) enter into derivative transactions; and - (g) do anything necessary or convenient to be done in the performance of the Treasurer’s functions under this or another Act.