Treasury Corporation Act 1983
4New South Wales Treasury Corporation
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4 New South Wales Treasury Corporation
4 New South Wales Treasury Corporation
(1) There is hereby constituted a corporation with the corporate name “New South Wales Treasury Corporation”.
(2) The policies of the Corporation shall be as determined by the Board.
(3) The affairs of the Corporation shall be managed by the Chief Executive in accordance with such policies as may be determined by, and such directions as may be given by, the Board.
(4) Any act, matter or thing done in the name of, or on behalf of, the Corporation by the Chief Executive, or with the authority of the Chief Executive, shall be taken to have been done by the Corporation.
(5) The Corporation is subject to the control and direction of the Treasurer.
(6) If the Corporation is of the opinion that compliance with a direction given under subsection (5) is likely to have a significantly adverse effect on the performance by the Corporation of its functions:
(a) the Corporation may request the Treasurer to review the direction, and
(b) if the Corporation is of the same opinion after the direction has been reviewed, the Corporation must include particulars of the direction, and of its opinion as to the effect of compliance with the direction, in the annual reporting information prepared for it under the Government Sector Finance Act 2018.
(7) A direction given by the Treasurer under subsection (5) does not cease to have effect merely because a request has been made for a review of the direction under subsection (6).
(8) In the event of an inconsistency between a direction given by the Treasurer and a direction given by the Board, the direction given by the Treasurer prevails to the extent of the inconsistency.
(9) Any act, matter or thing done by the Chief Executive may not be called into question, by any person transacting any business or otherwise dealing with the Corporation, because of a contravention of any direction under this section.
(10) The Corporation may employ staff. The provisions of the Government Sector Employment Act 2013 relating to the employment of Public Service employees do not apply to the staff employed by the Corporation.