sec.56When reports about derivative transactions to be given to appropriate Ministers— Act , s 86

sec.56 When reports about derivative transactions to be given to appropriate Ministers— Act , s 86

This section prescribes, for section 86 (2) of the Act , when a department must give the appropriate Minister for the department a report about a derivative transaction administered by the department. If the duration of the derivative transaction is 90 days or more, the department must give the report— for the duration of the transaction— at the intervals, of not more than 3 months, decided by the Treasurer and stated in the Treasurer’s approval for the transaction; or if subparagraph (i) does not apply—as soon as practicable after the first day of each quarter; and as soon as practicable after the first day of the month after the transaction is completed. If the duration of the derivative transaction is less than 90 days, the department must give the report on the first day of the month after the transaction is completed. In this section— quarter means a period of 3 months starting on 1 January, 1 April, 1 July or 1 October. (sec.56-ssec.1) This section prescribes, for section 86 (2) of the Act , when a department must give the appropriate Minister for the department a report about a derivative transaction administered by the department. (sec.56-ssec.2) If the duration of the derivative transaction is 90 days or more, the department must give the report— for the duration of the transaction— at the intervals, of not more than 3 months, decided by the Treasurer and stated in the Treasurer’s approval for the transaction; or if subparagraph (i) does not apply—as soon as practicable after the first day of each quarter; and as soon as practicable after the first day of the month after the transaction is completed. (sec.56-ssec.3) If the duration of the derivative transaction is less than 90 days, the department must give the report on the first day of the month after the transaction is completed. (sec.56-ssec.4) In this section— quarter means a period of 3 months starting on 1 January, 1 April, 1 July or 1 October.

• (a) for the duration of the transaction— (i) at the intervals, of not more than 3 months, decided by the Treasurer and stated in the Treasurer’s approval for the transaction; or (ii) if subparagraph (i) does not apply—as soon as practicable after the first day of each quarter; and
• (i) at the intervals, of not more than 3 months, decided by the Treasurer and stated in the Treasurer’s approval for the transaction; or
• (ii) if subparagraph (i) does not apply—as soon as practicable after the first day of each quarter; and
• (b) as soon as practicable after the first day of the month after the transaction is completed.
• (i) at the intervals, of not more than 3 months, decided by the Treasurer and stated in the Treasurer’s approval for the transaction; or
• (ii) if subparagraph (i) does not apply—as soon as practicable after the first day of each quarter; and