19Retained State interests—the Act, s 7.3(2)

19 Retained State interests—the Act, s 7.3(2)

19 Retained State interests—the Act, s 7.3(2)

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

(a) the sole purpose of the agency is to hold and manage retained State interests arising from a relevant transaction and all of the agency’s activities relate to the purpose,

(b) the agency’s financial position and financial performance are consolidated within the financial statements of another GSF agency (the second agency),

(c) the agency has the same accountable authority as the second agency,

(d) if there is another GSF agency (a controlled agency) that is a controlled entity of the second agency—the agency has the same sole purpose as the controlled agency.