11Functions and powers of the Corporation

11 Functions and powers of the Corporation

[Section 11 Subsection (2) amended by No. 52 of 1995, s. 3 and Sched. 1 ]

(1)  *[Section 11 Subsection (1) amended by No. 4 of 1995, s. 10 ]*The functions of the Corporation are –

(a) to develop and implement borrowing and investment programmes for the benefit of participating authorities; and

(b) to engage in such other activities relating to the finances of the Government of the State or participating authorities as are contemplated by this Act or approved by the Treasurer.

(2)  *[Section 11 Subsection (2) amended by No. 4 of 1995, s. 10 ]*For the purposes of this Act, and notwithstanding the Government Business Enterprises Act 1995 , the Corporation may, but only if it has the approval of the Treasurer –

(a) borrow money within or outside Australia;

(b) lend money to participating authorities;

(c) accept money on deposit or loan from the Treasurer or a participating authority;

(d) [Section 11 Subsection (2) amended by No. 74 of 1999, Sched. 2, Applied:01 Jan 2000] place on deposit with the Treasurer or an authorised deposit-taking institution money held by the Corporation;

(e) invest money held by the Corporation;

(f) issue, sell, purchase, pay-off, re-purchase, redeem, convert, or otherwise deal in or with securities;

(g) .  .  .  .  .  .  .  .  

(h) [Section 11 Subsection (2) amended by No. 74 of 1999, Sched. 2, Applied:01 Jan 2000] appoint an authorised deposit-taking institution or other person to act as underwriter, manager, trustee, or agent in connection with any transaction within or outside Australia;

(i) enter into contracts of guarantee;

(j) .  .  .  .  .  .  .  .  

(ja) enter into any agreement or arrangement for the purpose of returning a gain, avoiding a loss, or with a view to avoiding a loss by reference to currency obligations, currency exchange rate movement or interest rate movement; or