sec.55Requirement to report to Treasurer about derivatives

### sec.55 Requirement to report to Treasurer about derivatives For each derivative transaction entered into under this division by a statutory body, the body must give the Treasurer a report about the transaction at the times prescribed under a regulation. Each report must contain the following— details sufficient to identify the derivative transaction; a statement about the underlying exposure against which the statutory body is trying to hedge; the stated purpose of the derivative transaction, including details of the Treasurer’s approval under which the transaction was entered into and verification of compliance with the conditions of the approval; details of any realised or unrealised gains or losses from the derivative transaction. However, if a statutory body satisfies the Treasurer that, because of the number of derivative transactions entered into by the body, it is an undue burden on it to prepare a report under subsection (2) for each transaction, the report for subsection (1) may be a statement summarising the matters mentioned in subsection (2) for all of the body’s derivative transactions. s 55 ins 1996 No. 54 s 8 (sec.55-ssec.1) For each derivative transaction entered into under this division by a statutory body, the body must give the Treasurer a report about the transaction at the times prescribed under a regulation. (sec.55-ssec.2) Each report must contain the following— details sufficient to identify the derivative transaction; a statement about the underlying exposure against which the statutory body is trying to hedge; the stated purpose of the derivative transaction, including details of the Treasurer’s approval under which the transaction was entered into and verification of compliance with the conditions of the approval; details of any realised or unrealised gains or losses from the derivative transaction. (sec.55-ssec.3) However, if a statutory body satisfies the Treasurer that, because of the number of derivative transactions entered into by the body, it is an undue burden on it to prepare a report under subsection (2) for each transaction, the report for subsection (1) may be a statement summarising the matters mentioned in subsection (2) for all of the body’s derivative transactions. - (a) details sufficient to identify the derivative transaction; - (b) a statement about the underlying exposure against which the statutory body is trying to hedge; - (c) the stated purpose of the derivative transaction, including details of the Treasurer’s approval under which the transaction was entered into and verification of compliance with the conditions of the approval; - (d) details of any realised or unrealised gains or losses from the derivative transaction.