The Act allocates rights, duties and decision‑making authority among multiple stakeholders. Primary affected parties and how they are affected are set out below with statutory references.
The Commission and its board of commissioners: the Commission is the central legal actor established under s 4 and governed by a board (s 5). Commissioners are appointed by the Governor on the Minister’s nomination (s 5(1)(a)), receive remuneration from Commission funds (s 5(5)), and carry statutory duties to operate within the functions, powers and financial constraints of the Act. Schedule 1 prescribes terms, removal grounds, meeting rules, disclosure obligations and protections for commissioners (Sch 1 cll 2-11). The managing director is the chief executive and an ex officio commissioner, appointed by the Governor on Ministerial nomination, responsible for day‑to‑day administration subject to the board (s 11).
Treasurer: the Treasurer has multiple decision rights: approval of borrowings and security arrangements (s 7(2)(a); s 24), approval of bank accounts for Funds (s 7(2)(c)), approval of investment manager arrangements (s 19(1)), power to impose prudential investment requirements (s 19A), to concur in Ministerial dividend decisions (ss 28(3)(a), 29(3)(a)), and to authorise State guarantees (s 27). The Treasurer evaluates surplus for transfer (s 18(5)) and has concurrence rights over certain regulations under s 14B(4).
Minister: the Minister can give binding written directions that the Commission must follow (s 10(1)) and is entitled to obtain information and copies of documents from the Commission (s 10A). The Minister receives the Commission’s interim and annual dividend reports and, with the Treasurer’s concurrence, accepts or sets dividend amounts (ss 28(3), 29(3)). The Minister also must have directions included in the annual report (s 10(2)).
Public authorities and eligible community organisations: public authorities are defined broadly and are potential clients of the Commission for insurance and risk management arrangements (s 6(c)). The Act explicitly enables arrangements for eligible community organisations once the Treasurer determines eligibility (s 3A(2)) and allows the Commission to establish a fund specifically for eligible community organisations (s 16(1a)).
Insureds, claimants and customers: persons who are insured by the Commission or who make claims are "customers" for the purposes of confidentiality protections (s 10B(3)). The secrecy provision applies to persons with access to information (commissioners, officers, employees and persons rendering services under ss 12, 13, 13A) and protects customer identity and affairs from disclosure to the Minister except as allowed (s 10B(1)-(2)).
State financial interest (Consolidated Account): the Treasurer and the Minister can direct transfers of surplus to the Consolidated Account (s 18(2)(b)) and require dividends to be paid into the Consolidated Account (s 30(3)). State financial exposure is also engaged by guarantees the Treasurer may give on behalf of the State (s 27(1)-(4)), and any payment under such guarantee is charged to the Consolidated Account (s 27(4)).
Investment managers, insurers and contractors: the Commission may appoint investment managers with Treasurer approval (s 19(1)), must invite expressions of interest for such appointments (s 19(3)), and may make use of insurer staff and facilities under contracted terms (s 13A). Persons engaged as consultants or service providers to the Commission (s 12(4)) will be bound by the Commission’s secrecy rules (s 42) and must be managed under delegation and procurement controls.
Commission employees and public sector staff: the Commission employs officers and employees and may use public sector staff and facilities under arrangement (s 13). Officers and employees are eligible for pensions and retirement benefits provided by the Commission (s 14). The managing director and senior executive officers are subject to the Public Sector Management Act where inconsistencies arise (s 12A).
Auditor, Parliamentary oversight and the public: the Financial Management Act 2006 and Auditor General Act 2006 apply to the Commission (s 20), bringing financial audit and public reporting obligations (ss 22-23). Certain directions and notices are required to be included in public annual reports (ss 10(2), 14C(4), 30(1)), thereby affecting transparency for Parliament and the public.
Private sector counterparties: banks, counterparties to investments, reinsurers and business undertakings interacting with the Commission are affected by the Commission’s power to form business undertakings, borrow, give security, enter partnerships and underwriting (s 7(2)(a), (f), (i) and ss 24-27). The Treasurer’s power to guarantee obligations (s 27) affects counterparties’ credit assessment and the Commission’s risk profile because such guarantees may be charged to the Consolidated Account and create a floating charge on Commission revenue and assets (s 27(5)).
Overall, the Act creates a statutory insurer that interacts with a wide set of actors; most importantly, the Commission itself, the Treasurer and Minister (who exercise oversight and budgetary controls), public authorities and eligible community organisations (clients), customers and claimants (protected by confidentiality and secrecy rules), investors and counterparties (engaging with the Commission’s commercial powers), and auditors and Parliament (through public reporting obligations).