sec.87When department may invest or otherwise lend an amount

### sec.87 When department may invest or otherwise lend an amount A department may not do any of the following other than under this section— make an investment based on all or part of the balance in the departmental accounts of a department at the time of the investment; or otherwise lend an amount even if lending the amount may be for the department’s purposes; or pay moneys out of a departmental financial institution account for making an investment or otherwise lending an amount under paragraphs (a) or (b) . Subsection (1) does not prevent a department operating a deposit and withdrawal account with a financial institution if the account— does not include an overdraft facility; or includes an overdraft facility under a Treasurer’s approval. Subsection (1) does not apply to a department to the extent the department is— doing a thing mentioned in subsection (1) — under a Treasurer’s approval; or for entering into a derivative transaction under part 5 , division 6 ; or making an investment under an express power under another Act. For subsection (3) (b) , a department does not have an express power to make an investment merely because the other Act states that the department has— the powers of a corporation or individual; or the power generally to enter into contracts; or the power to do all things necessary or convenient for, or in connection with, the performance of the department’s functions. (sec.87-ssec.1) A department may not do any of the following other than under this section— make an investment based on all or part of the balance in the departmental accounts of a department at the time of the investment; or otherwise lend an amount even if lending the amount may be for the department’s purposes; or pay moneys out of a departmental financial institution account for making an investment or otherwise lending an amount under paragraphs (a) or (b) . (sec.87-ssec.2) Subsection (1) does not prevent a department operating a deposit and withdrawal account with a financial institution if the account— does not include an overdraft facility; or includes an overdraft facility under a Treasurer’s approval. (sec.87-ssec.3) Subsection (1) does not apply to a department to the extent the department is— doing a thing mentioned in subsection (1) — under a Treasurer’s approval; or for entering into a derivative transaction under part 5 , division 6 ; or making an investment under an express power under another Act. (sec.87-ssec.4) For subsection (3) (b) , a department does not have an express power to make an investment merely because the other Act states that the department has— the powers of a corporation or individual; or the power generally to enter into contracts; or the power to do all things necessary or convenient for, or in connection with, the performance of the department’s functions. - (a) make an investment based on all or part of the balance in the departmental accounts of a department at the time of the investment; or - (b) otherwise lend an amount even if lending the amount may be for the department’s purposes; or - (c) pay moneys out of a departmental financial institution account for making an investment or otherwise lending an amount under paragraphs (a) or (b) . - (a) does not include an overdraft facility; or - (b) includes an overdraft facility under a Treasurer’s approval. - (a) doing a thing mentioned in subsection (1) — (i) under a Treasurer’s approval; or (ii) for entering into a derivative transaction under part 5 , division 6 ; or - (i) under a Treasurer’s approval; or - (ii) for entering into a derivative transaction under part 5 , division 6 ; or - (b) making an investment under an express power under another Act. - (i) under a Treasurer’s approval; or - (ii) for entering into a derivative transaction under part 5 , division 6 ; or - (a) the powers of a corporation or individual; or - (b) the power generally to enter into contracts; or - (c) the power to do all things necessary or convenient for, or in connection with, the performance of the department’s functions.