sec.88Approval before commencement for arrangement that is a type 2 financial arrangement

### sec.88 Approval before commencement for arrangement that is a type 2 financial arrangement This section applies to a Treasurer’s approval for section 61 of the pre-amended Act, as that approval was in force immediately before the commencement, to the extent the approval authorised a statutory body to enter into an arrangement that, if the statutory body were to enter into the arrangement after the commencement, would be an arrangement that is not a type 1 financial arrangement. The approval continues to have effect, and may be dealt with, after the commencement as if it were a Treasurer’s approval for section 61A. An arrangement entered into before the commencement under the approval continues to have effect, and may be dealt with, after the commencement as if it were a type 2 financial arrangement. If the approval provided that a further arrangement may be entered into, other than an arrangement that would be a type 1 financial arrangement, the further arrangement— may be entered into under the approval after the commencement; and is to be dealt with as if it were a type 2 financial arrangement. Subsections (3) and (4) apply even if the arrangement mentioned in either of those subsections is not a financial arrangement under this Act. s 88 ins 2003 No. 12 s 21 (sec.88-ssec.1) This section applies to a Treasurer’s approval for section 61 of the pre-amended Act, as that approval was in force immediately before the commencement, to the extent the approval authorised a statutory body to enter into an arrangement that, if the statutory body were to enter into the arrangement after the commencement, would be an arrangement that is not a type 1 financial arrangement. (sec.88-ssec.2) The approval continues to have effect, and may be dealt with, after the commencement as if it were a Treasurer’s approval for section 61A. (sec.88-ssec.3) An arrangement entered into before the commencement under the approval continues to have effect, and may be dealt with, after the commencement as if it were a type 2 financial arrangement. (sec.88-ssec.4) If the approval provided that a further arrangement may be entered into, other than an arrangement that would be a type 1 financial arrangement, the further arrangement— may be entered into under the approval after the commencement; and is to be dealt with as if it were a type 2 financial arrangement. (sec.88-ssec.5) Subsections (3) and (4) apply even if the arrangement mentioned in either of those subsections is not a financial arrangement under this Act. - (a) may be entered into under the approval after the commencement; and - (b) is to be dealt with as if it were a type 2 financial arrangement.