17Common trusts—the Act, s 7.3(2)

17 Common trusts—the Act, s 7.3(2)

17 Common trusts—the Act, s 7.3(2)

(1) A GSF agency meeting all of the following requirements is prescribed not to be a reporting GSF agency—

(a) the agency is a common trust,

(b) the assets, liabilities, income, expenses, commitments and contingent liabilities of the agency are each less than $20,000,000,

(c) the total cash or cash equivalents held by the agency is less than $2,500,000,

(d) the income of the agency, excluding income derived from the following sources, is less than $2,000,000—

(i) money paid out of the Consolidated Fund,

(ii) money paid out of the Crown Reserves Improvement Fund,

(iii) money provided by other GSF agencies,

(iv) money provided by Commonwealth entities, within the meaning of the Public Governance, Performance and Accountability Act 2013 of the Commonwealth.

(e) (Repealed)

(2) In this section—

assets, of a GSF agency, does not include land held by the agency.

s 17: Am 2025 (503), Sch 1[4] [5] [9]–[11].