sec.85When departments may enter into derivative transactions

### sec.85 When departments may enter into derivative transactions A department may enter into a derivative transaction under this division— in its own name; or in the name of a person who, under a Treasurer’s approval, has been appointed in writing by the department as its agent for this division. The department may enter into a derivative transaction only if— the Treasurer’s approval has been given for the department to enter into the derivative transaction or derivative transactions of that type; and the department enters into the derivative transaction to hedge against a risk to which the department is or will be exposed. To remove any doubt, it is declared that a department does not enter into a derivative transaction for the purposes of subsection (1) if the department merely takes over the administration of a derivative transaction entered into by another department under this section. s 85 amd 2015 No. 4 s 56 (sec.85-ssec.1) A department may enter into a derivative transaction under this division— in its own name; or in the name of a person who, under a Treasurer’s approval, has been appointed in writing by the department as its agent for this division. (sec.85-ssec.2) The department may enter into a derivative transaction only if— the Treasurer’s approval has been given for the department to enter into the derivative transaction or derivative transactions of that type; and the department enters into the derivative transaction to hedge against a risk to which the department is or will be exposed. (sec.85-ssec.3) To remove any doubt, it is declared that a department does not enter into a derivative transaction for the purposes of subsection (1) if the department merely takes over the administration of a derivative transaction entered into by another department under this section. - (a) in its own name; or - (b) in the name of a person who, under a Treasurer’s approval, has been appointed in writing by the department as its agent for this division. - (a) the Treasurer’s approval has been given for the department to enter into the derivative transaction or derivative transactions of that type; and - (b) the department enters into the derivative transaction to hedge against a risk to which the department is or will be exposed.