Part 1 Preliminary
1 Name of Regulation
This Regulation is the Government Sector Finance Regulation 2018.
2 Commencement and repeal
(1) This Regulation commences on 1 December 2018 and is required to be published on the NSW legislation website.(2) Schedule 1 is repealed on 2 December 2018.
3 Definitions
(1) In this Regulation:Teaching Service has the same meaning as in the Teaching Service Act 1980.the Act means the Government Sector Finance Act 2018.Note—The Act and the Interpretation Act 1987 contain definitions and other provisions that affect the interpretation and application of this Regulation.(2) Notes included in this Regulation do not form part of this Regulation.
Part 2 Key concepts
4 Prescribed GSF agencies: section 2.4 (1) (l) of Act
(1) The purpose of this clause is to prescribe certain entities as GSF agencies for the purposes of section 2.4 (1) (l) of the Act (whether generally or for specified provisions of the Act).(2) Each existing prescribed PAFA entity that is not already covered by section 2.4 (1) (a)–(k) or (2) of the Act is prescribed as a GSF agency only for the purposes of Divisions 6.4–6.6 of the Act.(3) Subclause (2) applies in relation to an existing prescribed PAFA entity that was prescribed as an authority or controlled entity for the purposes of certain provisions of the Public Authorities (Financial Arrangements) Act 1987 as follows:(a) if the entity was prescribed only for the purposes of Part 2A (Financial adjustments) of that Act—the entity is prescribed as a GSF agency only for the purposes of provisions that concern derivative arrangements,(b) if the entity was prescribed only for the purposes of Part 3 (Investments) of that Act—the entity is prescribed as a GSF agency only for the purposes of provisions that concern investments.(4) Each of the following entities is prescribed as a GSF agency only for the purposes of Part 7 of the Act:(a) the Statutory Trustee, or the Statutory Trustees, of a Fund (within the meaning of the Technical Education Trust Funds Act 1967),(b) the Border Fence Maintenance Board.(5) Subject to subclauses (2)–(4), each of the following entities is prescribed as a GSF agency for the purposes of the Act generally:(a) an entity not already covered by section 2.4 (1) (a)–(k) or (2) of the Act that is:(i) an authority within the meaning of the Public Finance and Audit Act 1983, or(ii) any other entity specified in Schedule 2 or Column 1 of Schedule 3 to that Act,(b) the FANMAC trustee within the meaning of Schedule 4 to the Housing Act 2001,(c) the Trustee of the Home Purchase Assistance Fund.(6) However, this clause does not operate to prescribe the following entities to be GSF agencies (whether generally or for specified provisions of the Act):(a) the Teaching Service,(b) a university or the council or senate for a university.(7) In this clause:existing prescribed PAFA entity means an entity that was prescribed as an authority or controlled entity in Schedule 1 to the Public Authorities (Financial Arrangements) Regulation 2013 immediately before its repeal.
5 Accountable authority: section 2.7 (3) of Act
For the purposes of section 2.7 (3) of the Act, the Chief Executive of the Office of Environment and Heritage is to be treated as the accountable authority for the corporation sole with the corporate name “Minister administering the Heritage Act 1977” incorporated under section 102 of the Heritage Act 1977.
6 Prescribed government officers: section 2.9 (1) (e) of Act
(1) For the purposes of section 2.9 (1) (e) of the Act, any person who is an officer of an authority within the meaning of the Public Finance and Audit Act 1983 (and not already covered by section 2.9 (1) (a)–(d) of the Act) is prescribed as a government officer.(2) For the purposes of section 2.9 (1) (e) and (3) (b) of the Act, each person specified in Column 2 next to the GSF agency specified in Column 1 of the following Table is prescribed as a government officer of the agency:
Part 3 Financial services and arrangements
7 Definitions
In this Part:bank guarantee means an arrangement under which an entity that provides finance (the guarantor) undertakes either of the following in relation to another entity (the guarantee recipient):(a) to guarantee to a third party the performance of an obligation by the guarantee recipient,(b) to pay a third party on demand by the guarantee recipient.operating or finance lease arrangement means an arrangement under which an entity (the lessor) grants another entity (the lessee) for value:(a) a right for the lessee to use an asset (other than land) of the lessor for a specified period, and(b) any entitlements to the risks and rewards resulting from the use of the asset.means an arrangement created by an instrument under which any financial return is made contingent on the achievement of specified social outcomes.supplier finance arrangement means an agreement between parties under which:(a) one party (the finance provider) assumes the liability of the other party (the finance recipient) for the payment of invoices from suppliers for the finance recipient, and(b) the finance recipient has an obligation to repay the finance provider for any amounts paid (including interest or an amount in the form of interest).
8 Prescribed borrowings: section 6.8 (1) (c) of Act
For the purposes of section 6.8 (1) (c) of the Act, each of the following arrangements is prescribed as a borrowing:(a) issuing a social benefit bond,(b) becoming a guarantee recipient under a bank guarantee,(c) becoming a finance recipient under a supplier finance arrangement,(d) becoming a lessee under an operating or finance lease arrangement.
9 Prescribed investment: section 6.9 (1) (b) of Act
For the purposes of section 6.9 (1) (b) of the Act, each of the following arrangements is prescribed as an investment:(a) purchasing a social benefit bond,(b) depositing money in a banking account even if it is not primarily for the purpose or with the expectation of producing income, interest, profit, capital growth or any other financial benefit.
Part 4 Delegations
10 Prescribed delegates and subdelegates for Judicial Commission of New South Wales
(1) The purpose of this clause is to enable certain delegations and subdelegations in relation to the Judicial Commission of New South Wales to be made to members of staff of the Commission even though they are not government officers.Note—Section 2.9 (2) (e) of the Act provides that a government officer does not include a member of the staff of the Judicial Commission of New South Wales employed under the Judicial Officers Act 1986.(2) For the purposes of paragraph (b) of item 3 of the Table to section 9.9 (5) of the Act, a member of staff of the Judicial Commission of New South Wales is prescribed as an entity to which the accountable authority for the Commission may subdelegate.(3) For the purposes of section 9.11 (1) (b) of the Act, a member of staff of the Judicial Commission of New South Wales is prescribed as an entity to which the accountable authority for the Commission may delegate.(4) For the purposes of item 2 of the Table to section 9.11 (4) of the Act, a member of staff of the Judicial Commission of New South Wales is prescribed as an entity to which a delegate prescribed by subclause (3) may subdelegate.
11 Prescribed delegates and subdelegates for transport GSF agencies
(1) The purpose of this clause is to enable certain delegations and subdelegations to be made in relation to a transport GSF agency to a member of the Transport Service of New South Wales even if the member is not a government officer of the agency concerned.Note—Division 9.2 of the Act already makes provision for delegations and subdelegations to be made to persons who are government officers for a transport GSF agency.(2) For the purposes of section 9.9 (2) (f) of the Act, a member of the Transport Service of New South Wales who is not a government officer of a transport GSF agency for which the Minister is the responsible Minister is prescribed as an entity to which a Minister may delegate.(3) For the purposes of paragraph (b) of item 4 of the Table to section 9.9 (5) of the Act, a member of the Transport Service of New South Wales who is not a government officer of a transport GSF agency is prescribed as an entity to which the accountable authority for that agency may subdelegate.(4) For the purposes of paragraph (b) of item 6 of the Table to section 9.9 (5) of the Act, a member of the Transport Service of New South Wales who is not a government officer of a transport GSF agency is prescribed as an entity to which a government officer of that agency may subdelegate.(5) For the purposes of section 9.11 (1) (b) of the Act, a member of the Transport Service of New South Wales who is not a government officer of a transport GSF agency is prescribed as an entity to which the accountable authority for that agency may delegate.(6) For the purposes of paragraph (b) of item 1 of the Table to section 9.11 (4) of the Act, a member of the Transport Service of New South Wales who is not a government officer of the agency concerned is prescribed as an entity to which a government officer of the agency may subdelegate.(7) In this clause:transport GSF agency means:(a) a transport authority within the meaning of Part 6B of the Transport Administration Act 1988, or(b) a public subsidiary corporation within the meaning of section 55C of that Act.
12 Prescribed subdelegates for delegated expenditure functions of Planning Minister
(1) This purpose of this clause is to enable certain subdelegations to be made to the Planning Secretary and Planning government officers in relation to expenditure functions of the Planning Minister that have been initially delegated to another Minister or a Secretary of a Department (other than the Planning Secretary).(2) For the purposes of the following provisions of the Table to section 9.9 (5) of the Act, the Planning Secretary and Planning government officers are prescribed as entities to which a delegate of the Planning Minister may subdelegate an expenditure function of the Minister:(a) paragraph (d) of item 1,(b) paragraph (c) of item 2,(c) paragraph (b) of item 4,(d) paragraph (c) of item 5,(e) paragraph (b) of item 6.(3) In this clause:expenditure function of the Planning Minister means a function that is conferred or imposed on the Planning Minister by or under the Act or any other legislation (including an annual Appropriation Act) regarding the expenditure of money (including out of the Consolidated Fund).Planning Minister means the Minister for Planning.Planning Secretary means the Secretary of the Department of Planning and Environment.Planning government officer means a government officer of the Department of Planning and Environment.
Schedule 1 (Repealed)
sch 1: Rep 2018 (685), cl 2 (2).