14Definitions

14 Definitions

14 Definitions

In this division—

asset, contingent liability, expenses, income and liability have the same meanings as in the Australian Accounting Standards.

commitment means a contractual commitment required to be disclosed in financial statements prepared in accordance with the Australian Accounting Standards.

common trust means a trust established under the Commons Management Act 1989, section 4(1).

Crown land manager has the same meaning as in the Crown Land Management Act 2016.

Crown Reserves Improvement Fund means the Crown Reserves Improvement Fund established under the Crown Land Management Act 2016, Division 12.5.

relevant transaction means a transaction, approved or directed by the Premier or Treasurer or other Minister, for the sale, lease, assignment, transfer or other disposal of assets or liabilities of the State to an entity that is not a government sector entity.

retained State interest, in relation to a transaction, means an interest or right in, or related to, an asset or liability disposed of under the transaction that is held by or on behalf of the State as a result of the transaction.

s 14: Am 2024 (611), Sch 1[5].