QueenslandStatutory Bodies
Financial Arrangements Act 1982StatutoryBodiesFinancialArrangementsRegulation1997Reprinted as in force on 1 December
2006Reprint No. 6This reprint is
prepared bythe Office of the Queensland Parliamentary
CounselWarning—This reprint is not an authorised
copyNOT FURTHER AMENDEDLAST REPRINT
BEFORE REPEALSee 2007 SL No. 209 s 14
Information about this reprintThis
regulation is reprinted as at 1 December 2006. The reprint shows
the law as amendedby all amendments that commenced on or before
that day (Reprints Act 1992 s 5(c)).The reprint
includes a reference to the law by which each amendment was
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QueenslandStatutory Bodies
Financial ArrangementsRegulation 1997Contents122A2B2C2D344A55A6789Schedule 1Schedule
1ASchedule 2Schedule 3Schedule 4Schedule
4APageShort title . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . .3Commencement . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . .3Entities that are not statutory
bodies—Act, s 6(1)(j). . . . . . . . . . .3Prescribed rate of interest—Act, s 23. . . .
. . . . . . . . . . . . . . . . . .3Appointee for statutory body—Act, s 24. . .
. . . . . . . . . . . . . . . . .3Operating leases entered into by local governments
arefinancial
accommodation—Act, s 32(3) . . . . . . . . . . . . . . . . . . .
.4Statutory bodies that may borrow under
pt 5—Act, s 33 . . . . . . .4Allocation of investment powers to statutory
bodies—Act, s 42 . .5Category 1
investment power—prescribed investmentarrangements with
QIC or QTC—Act, s 44 . . . . . . . . . . . . . . . . .5Category 1 investment power—prescribed
rating for
investmentarrangement—Act,
s 44(1)(e). . . . . . . . . . . . . . . . . . . . . . . . . . . .5Category 2 investment power—prescribed
investmentarrangements with
QIC or QTC—Act, s 45 . . . . . . . . . . . . . . . . .6Category 2 investment power—prescribed
rating for
investmentarrangement—Act,
s 45(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6Statutory bodies that may enter into derivative
transactions .
. . .7Periodic reports to Treasurer about
derivativetransactions—Act,
s 55(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . .7Prescribed
conditions of
special guarantee—Act, s 82(3) . . . . . .7Entities that are not statutory bodies. . . . . . . . . . . . . . . . .8Statutory bodies that may borrow under part
5 of the Act. .9Statutory bodies
allocated category 1 investment power. .12Statutory
bodies allocated category
2 investment
power. .15Statutory
bodies allocated category
3 investment
power. .18Prescribed
investment arrangements for
category 1investment power. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20
s
13s 2CStatutory Bodies
Financial Arrangements Regulation1997Statutory Bodies Financial
ArrangementsRegulation 1997[as amended by
all amendments that commenced on or before 1 December 2006]1Short titleThis regulation
may be cited as theStatutory Bodies FinancialArrangements Regulation 1997.2CommencementThisregulationcommencesonthecommencementoftheStatutoryBodiesFinancialArrangementsAmendmentAct1996, section
5.2AEntities that are not statutory
bodies—Act, s 6(1)(j)For section 6(1)(j)1of the Act, the entities set out in
schedule1 are declared not to be statutory
bodies.2BPrescribed rate of interest—Act, s
23For section 23(b) of the Act, interest is
calculated on a dailybasis using the Reserve Bank of
Australia’s official cash ratefor the
day.22CAppointee for
statutory body—Act, s 24(1)For section 24(1)
of the Act, Dr Judith Hancock AM of EagleHeights,QueenslandisappointedastheappointeefortheBoardofTrusteesoftheRockhamptonGirls’GrammarSchool
(theboard).1Section 6 (Entities that are not
statutory bodies) of the Act2The
Reserve Bank of Australia’s official cash rate is published on the
bank’s websiteat <www.rba.gov.au>.
s
2D4Statutory Bodies Financial Arrangements
Regulation1997s3(2)The
appointee is to take over and manage the affairs of theboard.(3)To
manage the affairs of the board, the appointee may exercisethe
board’s powers, and carry out the board’s functions, undertheGrammar Schools Act 1975.(4)The appointee is
entitled to the remuneration agreed betweentheappointeeandtheMinisterwhoisresponsibleforadministering theGrammar Schools
Act 1975.(5)The appointee’s
term of appointment ends on 31 December2003.2DOperating leases entered into by local
governments arefinancial accommodation—Act, s 32(3)(1)Each operating lease entered into by a
local government is aform of financial accommodation for
the definitionborrow.(2)Subsection (1) applies whether or not
the operating lease isentered into by the local government
in the ordinary course ofperforming its functions.3Statutory bodies that may borrow under
pt 5—Act, s 33(1)For part 53of
the Act, the statutory bodies set out in schedule1A
are declared to be statutory bodies that may borrow underthe
part.(2)The authorising Act for each statutory
body appears oppositethe body in the first column of the
schedule.43Part 5 (Borrowing
powers) of the Act4If the statutory body does not have a
particular name or the name is difficult tolocate in the
authorising Act, the relevant section in the authorising Act or
otherhelpful reference for the reader is also set
out in the first column.
s45s5Statutory Bodies Financial Arrangements
Regulation19974Allocation of
investment powers to statutorybodies—Act, s
42(1)For part 65of
the Act, this section allocates investment powerto
statutory bodies.(2)Category1investmentpowerisallocatedtothestatutorybodies set out in
schedule 2.(3)Category2investmentpowerisallocatedtothestatutorybodies set out in
schedule 3.(4)Category3investmentpowerisallocatedtothestatutorybodies set out in
schedule 4.(5)If section 42(3) of the Act applies to
a statutory body, both thebody and the relevant fund or funds
are set out in the secondcolumn of the relevant
schedules.(6)TheauthorisingActforeachstatutorybodysetoutinschedules2,3and4appearsoppositethebodyinthefirstcolumn of the
schedules.64ACategory 1
investment power—prescribed investmentarrangements with
QIC or QTC—Act, s 44Forsection44(1)(d)7oftheAct,theprescribedinvestmentarrangements are
stated in schedule 4A.5Category 1
investment power—prescribed rating forinvestment
arrangement—Act, s 44(1)(e)For section 44(1)(e) of the Act, the
rating prescribed for aninvestment arrangement is—5Part 6 (Investment powers) of the
Act6Under section 42(3) (Investment power
depends on allocation under regulation) ofthe Act if a
statutory body has control of more than 1 fund, a different
category ofinvestment power may be allocated for each
fund to the body. A reference to asection of the
relevant authorising Act is included in the second column to help
areader locate a fund without a specific
name. Also, if the statutory body does nothave a particular
name or the name is difficult to locate in the authorising Act,
therelevant section in the authorising Act or
other helpful reference for the reader isalso set out in
the first column.7Section 44 (Category 1 investment
power) of the Act
s
5A6Statutory Bodies Financial Arrangements
Regulation1997s6(a)a
rating by Fitch IBCA (Australia) Pty Limited of F1+or
F1; or(b)a rating by Moody’s Investors Service
of Prime-1 (P-1);or(c)a rating by
Standard and Poor’s (Australia) Pty Ltd ofA-1+, A-1, AAm or
AAAm.5ACategory 2 investment power—prescribed
investmentarrangements with QIC or QTC—Act, s
45Forsection45(b)(iv)8oftheAct,theprescribedinvestmentarrangements are
stated in schedule 4B.6Category 2
investment power—prescribed rating forinvestment
arrangement—Act, s 45(c)(1)Forsection45(c)oftheAct,theratingprescribedforaninvestment
arrangement is—(a)a rating by Fitch IBCA (Australia) Pty
Limited of AA,AA+ or AAA; or(b)a
rating by Moody’s Investors Service of Aa2, Aa1 orAaa;
or(c)a rating by Standard and Poor’s
(Australia) Pty Ltd ofAA, AA+ or AAA.(2)A
rating mentioned in subsection (1)(b) is not prescribed foran
investment arrangement if it applies to a bond mutual fund.(3)A bond mutual fund is an investment
arrangement structuredas a unit investment trust—(a)with underlying assets that
are—(i)inarangeofshorttomediumandlongtermsecurities,withapredominantemphasisonfixedterm securities;
and(ii)valued on a mark-to-market basis;
and8Section 45 (Category 2 investment
power) of the Act
s77s9Statutory Bodies Financial Arrangements
Regulation1997(b)the units in
which are redeemable at a value based on themarket valuation
of the underlying assets of the fund.97Statutory bodies that may enter into
derivativetransactions(1)For
section 53(2)10of the Act, the statutory bodies set
out inschedule 5 are prescribed as statutory
bodies that may enterinto derivative transactions.(2)The authorising Act for each statutory
body appears oppositethe body in the first column of the
schedule.8Periodic reports to Treasurer about
derivativetransactions—Act, s 55(1)(1)For section 55(1)11of
the Act, the times at which a statutorybody must give to
the Treasurer a report about a derivativetransaction
are—(a)forthedurationofthetransaction—thefirstofeachcalendar month;
and(b)oncompletionofthetransaction—thefirstofthecalendar month
immediately after completion.(2)If
the duration of the transaction is less than 1 month, the
timeat which a statutory body must give the
report is the first ofthe calendar month immediately after
completion.9Prescribed conditions of special
guarantee—Act, s 82(3)For section 82(3)12of
the Act, the conditions prescribed for aspecial guarantee
are set out in schedule 6.9Bond mutual funds
are to be distinguished from cash mutual funds. For cash
mutualfunds, the underlying assets are
predominantly in short term securities. The units inthe
relevant unit investment trust are redeemable at par or face value
on an at callbasis. Income from the investment is a
return paid separately as appropriate.10Section 53 (Derivative transactions
permitted only for certain statutory bodies) ofthe Act11Section 55 (Requirement to report to
Treasurer about derivatives) of the Act12Section 82 (Certain loans by QTC taken to be
guaranteed) of the Act
8Statutory Bodies Financial Arrangements
Regulation1997Schedule 1Entities that are
not statutorybodiessection
2AColumn 1Authorising
ActAboriginal Land Act 1991Torres Strait
Islander LandAct 1991Column 2Entity•a
land trust formed under part 3 oftheAboriginal Land Regulation1991•an Aboriginal
land claimassociation incorporated under theAboriginal Land Regulation 1991•land trust formed under part 3
oftheTorres Strait Islander LandRegulation 1991•Torres Strait Islander Land ClaimAssociation incorporated undertheTorres Strait Islander LandRegulation 1991
9Statutory Bodies Financial Arrangements
Regulation1997Schedule 1AStatutory bodies
that mayborrow under part 5 of the Actsection 3Authorising
ActAgricultural College Act 2005Central Queensland UniversityAct
1998Chicken Meat IndustryCommittee Act
1976City of Brisbane Act 1924Community
Services (TorresStrait) Act 1984Community
Services (TorresStrait) Act 1984Community
Services (TorresStrait) Act 1984Education
(General Provisions)Act 2006Education
(Queensland Collegeof Teachers) Act 2005Education
(Queensland StudiesAuthority) Act 2002Food Production
(Safety) Act2000Grain Research Foundation Act1976Grammar Schools Act 1975(seesection 7)Griffith
University Act 1998Statutory bodyAustralian
Agricultural CollegeCorporationCentral
Queensland UniversityChicken Meat IndustryCommitteeBrisbane City
CouncilIsland Co-ordinating CouncilIsland CouncilsIsland Industries
Boardparents and citizens associationsQueensland College of TeachersQueensland Studies AuthoritySafe
Food Production QLDGrain Research FoundationBoards of TrusteesGriffith
University
10Statutory Bodies Financial Arrangements
Regulation1997Schedule 1A (continued)Authorising ActHospitals
Foundations Act 1982(see part 3)Industrial
Development Act 1963(see section 5)James Cook
University Act 1997Land Act 1994(see section
44)Legal Aid Queensland Act 1997Local
Government (AboriginalLands) Act 1978Local Government
(AboriginalLands) Act 1978Local Government
Act 1993Local Government Act 1993Local Government
Act 1993Mt. Gravatt Showgrounds Act1988National Trust of Queensland Act1963Queensland Institute of MedicalResearch Act 1945Queensland Museum
Act 1970Queensland Performing Arts TrustAct
1977Queensland Theatre Company Act1970Statutory bodybodies corporate
(HospitalFoundations and Trusts)the corporation
of the Minister forIndustrial Development ofQueenslandJames Cook
Universitytrustees of trust landLegal Aid
QueenslandCouncil of the Shire of ArukunCouncil of the Shire ofMorningtona
local government ownedcorporationlocal governments
and joint localgovernmentsTownsville-Thuringowa WaterSupply Joint BoardMt Gravatt
Showgrounds TrustThe National Trust of QueenslandQueensland Institute of MedicalResearch TrustBoard of the
Queensland MuseumQueensland Performing Arts TrustQueensland Theatre Company
11Statutory Bodies Financial Arrangements
Regulation1997Schedule 1A (continued)Authorising ActStatutory
bodyQueensland University ofTechnology Act
1998Racing Act 2002Racing Act
2002Racing Venues Development Act1982River Improvement Trust Act 1940(see
section 4)Rural and Regional AdjustmentAct
1994South Bank Corporation Act 1989Sugar
Industry Act 1999Tourism Queensland Act 1979University of Queensland Act1998University of SouthernQueensland Act 1998University of the
Sunshine CoastAct 1998Water Act
2000Workers’ Compensation andRehabilitation
Act 2003Queensland University ofTechnologyGreyhound Racing AuthorityQueensland Harness RacingBoardTrustees of the
Albion ParkPacewaytrustsQRAASouth Bank CorporationSugar
Industry CommissionerTourism QueenslandThe University of
QueenslandUniversity of SouthernQueenslandUniversity of the Sunshine Coastwater
authoritiesWorkers’ CompensationRegulatory
Authority
12Statutory Bodies Financial Arrangements
Regulation1997Schedule 2Statutory bodies
allocatedcategory 1 investment powersection 4(2)Authorising
ActAboriginal Communities (Justiceand
Land Matters) Act 1984(seesection 57)Agricultural College Act 2005Ambulance Service Act 1991Anti-Discrimination Act 1991Anzac
Day Act 1995Chicken Meat Industry CommitteeAct
1976Commission for Children andYoung
People and Child GuardianAct 2000Community
Services (TorresStrait) Act 1984(see section
180)Community Services (TorresStrait) Act 1984Community
Services (TorresStrait) Act 1984Community
Services (TorresStrait) Act 1984Crime and
Misconduct Act 2001Education (General Provisions)Act
2006Statutory bodybankerAustralian Agricultural CollegeCorporationlocal ambulance
committeesAnti-Discrimination CommissionAnzac
Day TrustChicken Meat Industry CommitteeCommission for Children andYoung
People and Child GuardianbankerIsland
Coordinating CouncilIsland CouncilsIsland Industries
BoardCrime and MisconductCommissionparents and citizens
associations
13Statutory Bodies Financial Arrangements
Regulation1997Schedule 2 (continued)Authorising ActStatutory
bodyEducation (Queensland Collegeof
Teachers) Act 2005Education (Queensland StudiesAuthority) Act 2002Food Production
(Safety) Act 2000Grain Research Foundation Act1976Health Quality and ComplaintsCommission Act 2006Land Act
1994(see section 44)Land Protection
(Pest and StockRoute Management) Act 2002Local
Government (AboriginalLands) Act 1978Local Government
(AboriginalLands) Act 1978Local Government
Act 1993Local Government Act 1993Local Government
Act 1993Queensland College of TeachersQueensland Studies AuthoritySafe
Food Production QLDGrain Research FoundationHealth Quality and ComplaintsCommissiontrustees of trust
landDarling Downs–Moreton RabbitBoardCouncil of the
Shire of ArukunCouncil of the Shire ofMorningtona
local government ownedcorporationlocal governments
and joint localgovernments, but not includingthe
following localgovernments—•Brisbane City Council•Cairns City Council•Gold
Coast City Council•Ipswich City Council•Logan City Council•Maroochy Shire Council•Pine
Rivers Shire CouncilTownsville-Thuringowa WaterSupply Joint Board
14Statutory Bodies Financial Arrangements
Regulation1997Schedule 2 (continued)Authorising ActStatutory
bodyLocal Government Act 1993Major Sports
Facilities Act 2001New South Wales–QueenslandBorder Rivers Act 1946Queensland
Competition AuthorityAct 1997Racing Act
2002Racing Act 2002Racing Venues
Development Act1982River Improvement Trust Act 1940(see
section 4)South Bank Corporation Act 1989Sugar
Industry Act 1999Tourism Queensland Act 1979Valuers Registration Act 1992Water
Act 2000Trustees of the LocalGovernment’s Debt
RedemptionFundMajor Sports Facilities
AuthorityThe Dumaresq–Barwon BorderRivers CommissionQueensland
CompetitionAuthorityGreyhound Racing
AuthorityQueensland Harness RacingBoardTrustees of
Parklands Gold CoasttrustsSouth Bank
CorporationSugar Industry CommissionerTourism QueenslandValuers
Registration Board ofQueenslandwater authorities
other thanPioneer Valley Water Board
15Statutory Bodies Financial Arrangements
Regulation1997Schedule 3Statutory bodies
allocatedcategory 2 investment powersection 4(3)Authorising
ActStatutory bodyArchitects Act
2002Building and ConstructionIndustry
(Portable Long ServiceLeave) Act 1991Chiropractors
Registration Act2001Contract Cleaning Industry(Portable Long Service Leave)Act
2005Dental Practitioners RegistrationAct
2001Dental Technicians and DentalProsthetists Registration Act2001Health Practitioner RegistrationBoards (Administration) Act1999Libraries Act 1988Local Government
Act 1993Local Government Act 1993Local Government
Act 1993Local Government Act 1993Local Government
Act 1993Local Government Act 1993Board of
Architects of QueenslandBuilding and ConstructionIndustry (Portable Long ServiceLeave) AuthorityChiropractors
Board ofQueenslandContract Cleaning
Industry(Portable Long Service Leave)AuthorityDental Board of
QueenslandDental Technicians and DentalProsthetists Board of QueenslandOffice of Health PractitionerRegistration BoardsLibrary Board of
QueenslandCairns City CouncilGold Coast City
CouncilIpswich City CouncilLogan City
CouncilMaroochy Shire CouncilPine Rivers Shire
Council
16Statutory Bodies Financial Arrangements
Regulation1997Schedule 3 (continued)Authorising ActStatutory
bodyMedical PractitionersRegistration Act
2001Medical Radiation TechnologistsRegistration Act 2001Motor Accident
Insurance Act1994Motor Accident Insurance Act1994Nursing Act 1992Occupational
TherapistsRegistration Act 2001Optometrists
Registration Act2001Osteopaths Registration Act2001Pharmacists Registration Act2001Physiotherapists Registration
Act2001Podiatrists Registration Act
2001Professional Engineers Act 2002Psychologists Registration Act2001Queensland Art Gallery Act 1987Queensland Building ServicesAuthority Act 1991The Medical Board
of QueenslandMedical Radiation TechnologistsBoard
of QueenslandMotor Accident InsuranceCommissionNominal DefendantQueensland
Nursing CouncilOccupational Therapists Board ofQueenslandOptometrists
Board of QueenslandOsteopaths Board of QueenslandPharmacists Board ofQueensland—•allfundsotherthanthePharmacyCollegeTrustAccountPhysiotherapists
Board ofQueenslandPodiatrists Board
of QueenslandBoard of Professional Engineers ofQueenslandPsychologists
Board ofQueenslandQueensland Art
Gallery Board ofTrusteesQueensland
Building ServicesAuthority
18Statutory Bodies Financial Arrangements
Regulation1997Schedule 4Statutory bodies
allocatedcategory 3 investment powersection 4(4)Authorising
ActStatutory bodyCentral
Queensland UniversityAct 1998City of Brisbane
Act 1924Funeral Benefit Business Act 1982Future Growth Fund Act 2006Grammar Schools Act 1975(seesection 7)Griffith
University Act 1998Hospitals Foundations Act 1982(see
part 3)Industrial Development Act 1963James
Cook University Act 1997Legal Aid Queensland Act 1997Legal
Profession Act 2004National Trust of Queensland Act1963Newstead House Trust Act 1939Central Queensland UniversityBrisbane City CouncilTrustees of the
Funeral BenefitTrust FundQueensland Future
GrowthCorporationBoards of
TrusteesGriffith Universitybodies corporate
(HospitalFoundations and Trusts)the corporation
of the Minister forIndustrial Development ofQueenslandJames Cook
UniversityLegal Aid QueenslandQueensland Law
SocietyIncorporated—•Legal
Practitioners’ FidelityGuarantee FundThe National
Trust of QueenslandBoard of Trustees of NewsteadHouse
19Statutory Bodies Financial Arrangements
Regulation1997Schedule 4 (continued)Authorising ActPharmacists
Registration Act2001Queensland Institute of MedicalResearch Act 1945Queensland
Institute of MedicalResearch Act 1945Queensland Museum
Act 1970Queensland Performing Arts TrustAct
1977Queensland Theatre Company Act1970Queensland University ofTechnology Act 1998Supreme Court
Library Act 1968University of Queensland Act1998University of SouthernQueensland Act 1998University of the
Sunshine CoastAct 1998Statutory
bodyPharmacists Board ofQueensland—•Pharmacy College TrustAccountQueensland Institute of MedicalResearch Trust—•Trust
Fund under section 8NThe Council of The QueenslandInstitute of Medical Research—•General Fund under section 13Board
of the Queensland MuseumQueensland Performing Arts
TrustQueensland Theatre CompanyQueensland University ofTechnologySupreme Court LibraryCommitteeThe
University of QueenslandUniversity of SouthernQueenslandUniversity of the
Sunshine Coast
20Statutory Bodies Financial Arrangements
Regulation1997Schedule 4APrescribed
investmentarrangements for category 1investment powersection
4APart 1Investment
arrangementsmanaged or offered by QIC•QIC Cash FundPart 2Investment arrangementsmanaged or
offered by QTC•QTC Capital Guaranteed Cash
Fund•QTC Debt Offset Facility•QTC Fixed Rate Deposit (up to 12
months)•QTC Working Capital
Facility
21Statutory Bodies Financial Arrangements
Regulation1997Schedule 4BPrescribed
investmentarrangements for category 2investment powersection
5APart 1Investment
arrangementsmanaged or offered by QIC•QIC Australian Fixed Interest
Fund•QIC Cash Fund•QIC
Growth Fund No 1•QIC Growth Fund No 2•QIC Stable FundPart 2Investment arrangementsmanaged or
offered by QTC•QTC Capital Guaranteed Cash
Fund•QTC Debt Offset Facility•QTC Fixed Rate Deposit (up to 3
years)•QTC Working Capital
Facility
22Statutory Bodies Financial Arrangements
Regulation1997Schedule 5Statutory bodies
that may enterinto derivative transactionssection 7Authorising
ActStatutory bodyBuilding and
Construction Industry(Portable Long Service Leave)
Act1991City of Brisbane Act 1924Future Growth Fund Act 2006Griffith University Act 1998Residential Tenancies Act 1994Tourism Queensland Act 1979University of Queensland Act 1998Workers’ Compensation andRehabilitation
Act 2003Building and Construction Industry(Portable Long Service Leave)AuthorityBrisbane City
CouncilQueensland Future GrowthCorporationGriffith
UniversityResidential Tenancies AuthorityTourism QueenslandThe University of
QueenslandWorkCover Queensland
23Statutory Bodies Financial Arrangements
Regulation1997Schedule 6Special guarantee
conditionsunder section 82(3) of the Actsection 9Forsection82(3)oftheAct,thisschedulesetsouttheconditionsofaspecialguaranteeforaloanbyQTCtoanentity.1In
this guarantee—default amountmeans the amount
of the guaranteed moneystheTreasurerisrequestedtopaytoQTCinanoticeunderclause
2(4).guaranteedmoneysmeansallmoneyswhicharepayable,owing but not
payable or contingently owing, by the entity toQTC under the
loan.this guaranteemeans these
conditions.2(1)If the entity defaults in the due and
punctual payment of thewholeorpartoftheguaranteedmoneys,QTCmayserveanotice (adefault
notice) upon the entity.(2)IfQTCservesadefaultnoticeupontheentity,QTCmustwithin 3 days of
the service give a copy of the notice to theTreasurer.(3)In the default notice, QTC
must—(a)specify the default; and(b)require the entity to remedy the
default.(4)If the entity does not remedy the
default within 14 days afterreceiving the
default notice, QTC may serve a written noticeupon the
Treasurer.(5)In the notice, QTC must—(a)certifythedefaulthasoccurredandremainsunremedied;
and(b)requesttheTreasurertopaytheamountoftheunremedied
default to QTC.
24Statutory Bodies Financial Arrangements
Regulation1997Schedule 6 (continued)3(1)AssoonaspracticableafterreceivinganoticefromQTCunder clause 2(4), the Treasurer must
pay the default amountto QTC from funds or reserves that the
Treasurer considersappropriate.(2)If
the Treasurer is obliged or elects to seek an appropriationfrom
Parliament before paying the whole or part of the defaultamount out of a particular fund or reserve,
the Treasurer mustpromptly seek the appropriation.4The Treasurer may at any time direct
QTC not to provide—(a)any further financial accommodation to
the entity; or(b)financialaccommodationtotheentityinexcessofaspecified aggregate amount.5IfQTCprovidesfinancialaccommodationtotheentitycontrary to the
Treasurer’s direction under clause 4—(a)the
financial accommodation is not part of the loan, oranother loan to which section 82 of
theStatutory BodiesFinancialArrangementsAct1982applies,andtheTreasurer has no obligation to QTC
under this guaranteefor the financial accommodation; and(b)any payments made by or for the entity
to QTC must beapplied by QTC firstly in reduction of the
loan for whichtheTreasurer(fortheState)isliableunderthisguarantee.6TheTreasurerisundernoobligationtopaythedefaultamount to QTC if—(a)QTC
or the entity materially contravened theStatutoryBodiesFinancialArrangementsAct1982,theQueenslandTreasuryCorporationAct1988ortheentity’s authorising Act in relation to the
loan; or(b)theapprovalsrequiredundertheStatutoryBodiesFinancialArrangementsAct1982,theQueenslandTreasuryCorporationAct1988ortheentity’sauthorising Act
to enter into the loan were not obtainedoranyconditionsoftheapprovalwerenotmateriallycomplied with;
or
25Statutory Bodies Financial Arrangements
Regulation1997Schedule 6 (continued)(c)QTC has materially contravened this
guarantee.7(1)QTC may, from time to time, grant the
entity any time, waiverforbearanceorotherconcessionwithoutdischargingorlimiting the rights of QTC under this
guarantee.(2)On each occasion QTC grants any time,
waiver, forbearanceor other concession to the entity, QTC must
give the Treasurernotice of—(a)the
time, waiver, forbearance or other concession; and(b)particulars of the default by the
entity which resulted inthegrantingofthetime,waiver,forbearanceorotherconcession.8(1)A
failure to exercise, or any delay by QTC in exercising, anyrightorremedyunderthisguaranteedoesnotoperateasawaiver of the right or remedy.(2)The exercise or partial exercise by
QTC of a right or remedydoes not prevent any further or other
exercise of the right orremedy.9QTC
may not assign or transfer all or any part of its rights orobligations under this guarantee to a third
party.10The Treasurer does not incur any
personal liability under thisguarantee.11On request by the Treasurer, QTC must
give to the Treasurerany information about its transactions
and dealings with theentity.12Anotice,communication,consentordirectionthatmaybegiven by or to
the Treasurer may be given by or to the UnderTreasurerorapersonactinginthepositionoftheUnderTreasurer.
26Statutory Bodies Financial Arrangements
Regulation1997Endnotes1Index to endnotesPage2Date to which amendments incorporated
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
.263Key . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . .264Table of reprints
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . .275List
of legislation . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . .286List of annotations . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . .322Date to which amendments
incorporatedThis is the reprint date mentioned in the
Reprints Act 1992, section 5(c). Accordingly, thisreprint includes all amendments that
commenced operation on or before 1 December2006. Future
amendments of the Statutory Bodies Financial Arrangements
Regulation1997 may be made in accordance with this
reprint under the Reprints Act 1992, section49.3KeyKey to
abbreviations in list of legislation and annotationsKeyAIAamdamdtchdefdivexpgazhdginslapnotfdo in comorigpparaprecpresprevExplanation=Acts
Interpretation Act 1954=amended=amendment=chapter=definition=division=expires/expired=gazette=heading=inserted=lapsed=notified=order
in council=omitted=original=page=paragraph=preceding=present=previousKey(prev)procprovptpubdR[X]RArelocrenumrep(retro)rvsschsdivSIASIRSLsubunnumExplanation=previously=proclamation=provision=part=published=Reprint No.[X]=Reprints Act 1992=relocated=renumbered=repealed=retrospectively=revised edition=section=schedule=subdivision=Statutory Instruments Act 1992=Statutory Instruments Regulation
2002=subordinate legislation=substituted=unnumbered
27Statutory Bodies Financial Arrangements
Regulation19974Table of
reprintsReprints are issued for both future and past
effective dates. For the most up-to-date tableof reprints, see
the reprint with the latest effective date.Ifareprintnumberincludesaletterofthealphabet,thereprintwasreleasedinunauthorised, electronic form only.ReprintNo.11A22A2B2C2D2E2F33A3B3C3D3E3F3GAmendments
tonone1997 SL No. 2321998 SL No.
3121999 SL No. 471999 Act No.
511999 Act No. 512000 SL No.
1842000 SL No. 2942001 SL No.
272001 SL No. 272001 SL No.
2692001 SL No. 2692002 SL No.
312002 SL No. 572002 SL No.
832002 SL No. 982002 SL No.
103Effective1 June
19971 August 199727 November
19981 April 19991 April
19991 January 200030 June
200024 November 20006 April
20016 April 20011 January
20021 February 20021 March
20025 April 20021 May 200212
May 200217 May 2002Reprint
date3 June 199726 November
19971 December 19988 April
19996 December 199917 January
200021 July 20008 December
200020 April 20013 October
200115 January 20028 February
20027 March 200212 April
200210 May 200217 May
200228 May 2002ReprintNo.3H44A4B4C4D4E4F4G4H4I55A5B5C5D5E5F5G5HAmendments included2002 SL No.
152—2002 SL No. 2602002 SL No.
2642003 SL No. 622003 SL No.
912003 SL No. 1122003 SL No.
3332004 SL No. 1252004 SL No.
3192005 SL No. 9—2005
SL No. 892005 SL No. 2022005 SL No.
2692005 SL No. 3102006 SL No.
482006 SL No. 1412006 Act No.
252006 SL No. 246Effective1
July 20021 July 20021 October
20024 October 200211 April
200323 May 20031 July
20031 January 200416 July
20041 January 200518 February
200518 February 200520 May
200519 August 200518 November
20051 January 200631 March
200623 June 20061 July
200630 October 2006NotesR3H
withdrawn, see R4R4I withdrawn, see R5
28Statutory Bodies Financial Arrangements
Regulation1997ReprintNo.5I5J6Amendments included2006 SL No.
2682006 SL No. 288—Effective10 November
20061 December 20061 December
2006NotesR5J withdrawn,
see R65List of legislationStatutory Bodies Financial Arrangements
Regulation 1997 SL No. 129made by the Governor in Council on 29
May 1997notfd gaz 30 May 1997 pp 485–7ss
1–2 commenced on date of notificationremaining
provisions commenced 1 June 1997 (see s 2 and 1997 SL No.
128)exp 1 September 2007 (see SIA s 54)Note—The expiry date may have changed since
this reprint was published. See thelatest reprint of
the SIR for any change.amending legislation—Statutory Bodies Financial Arrangements
Amendment Regulation (No. 1) 1997 SLNo. 232notfd
gaz 1 August 1997 pp 1552–4commenced on date of
notificationStatutory Bodies Financial Arrangements
Amendment Regulation (No. 1) 1998 SLNo. 312notfd
gaz 27 November 1998 pp 1180–1commenced on date
of notificationStatutory Bodies Financial Arrangements
Amendment Regulation (No. 1) 1999 SLNo. 47notfd
gaz 1 April 1999 pp 1534–6commenced on date of
notificationSugar Industry Act 1999 No. 51 ss 1, 2(2),
228 sch 1date of assent 18 November 1999ss
1–2 commenced on date of assentremaining
provisions commenced 1 January 2000 (see s 2(2))Statutory Bodies Financial Arrangements
Amendment Regulation (No. 1) 2000 SLNo. 142notfd
gaz 30 June 2000 pp 736–48commenced on date of
notificationPrimary Industries and Natural Resources
Legislation Consequential AmendmentRegulation (No.
1) 2000 SL No. 184 pts 1, 5notfd gaz 30 June 2000 pp
736–48ss 1–2 commenced on date of
notificationremaining provisions commenced at 6p.m. on
30 June 2000 (see s 2)
29Statutory Bodies Financial Arrangements
Regulation1997Statutory Bodies Financial Arrangements
Amendment Regulation (No. 2) 2000 SLNo. 294notfd
gaz 24 November 2000 pp 1188–9commenced on date
of notificationStatutory Bodies Financial Arrangements
Amendment Regulation (No. 1) 2001 SLNo. 27notfd
gaz 6 April 2001 pp 1452–3commenced on date of
notificationDental Practitioners Registration Regulation
2001 SL No. 264 ss 1–2, 17 sch 5notfd gaz 14
December 2001 pp 1351–4ss 1–2 commenced on date of
notificationremaining provisions commenced 1 January
2002 (see s 2)Occupational Therapists Registration
Regulation 2001 SL No. 265 ss 1–2, 10 sch 3notfd gaz 14
December 2001 pp 1351–4ss 1–2 commenced on date of
notificationremaining provisions commenced 1 February
2002 (see s 2)Optometrists Registration Regulation 2001 SL
No. 266 ss 1–2, 10 sch 3notfd gaz 14 December 2001 pp
1351–4ss 1–2 commenced on date of
notificationremaining provisions commenced 1 February
2002 (see s 2)Pharmacists Registration Regulation 2001 SL
No. 267 ss 1–2, 14 sch 4notfd gaz 14 December 2001 pp
1351–4ss 1–2 commenced on date of
notificationremaining provisions commenced 1 February
2002 (see s 2)Physiotherapists Registration Regulation 2001
SL No. 268 ss 1–2, 10 sch 3notfd gaz 14 December 2001 pp
1351–4ss 1–2 commenced on date of
notificationremaining provisions commenced 1 February
2002 (see s 2)Speech Pathologists Registration Regulation
2001 SL No. 269 ss 1–2, 10 sch 3notfd gaz 14
December 2001 pp 1351–4ss 1–2 commenced on date of
notificationremaining provisions commenced 1 February
2002 (see s 2)Medical Practitioners Registration Regulation
2002 SL No. 31 ss 1–2, 16 sch 4notfd gaz 1 March
2002 pp 850–2ss 1–2 commenced on date of
notificationremaining provisions commenced 1 March 2002
(see s 2)Statutory Bodies Financial Arrangements
Amendment Regulation (No. 1) 2002 SLNo. 57notfd
gaz 5 April 2002 pp 1320–1commenced on date of
notificationChiropractors Registration Regulation 2002 SL
No. 79 ss 1–2, 11 sch 4notfd gaz 26 April 2002 pp
1540–3
30Statutory Bodies Financial Arrangements
Regulation1997ss 1–2 commenced on date of
notificationremaining provisions commenced 1 May 2002
(see s 2)Podiatrists Registration Regulation 2002 SL
No. 80 ss 1–2, 10 sch 3notfd gaz 26 April 2002 pp
1540–3ss 1–2 commenced on date of
notificationremaining provisions commenced 1 May 2002
(see s 2)Osteopaths Registration Regulation 2002 SL
No. 81 ss 1–2, 14 sch 4notfd gaz 26 April 2002 pp
1540–3ss 1–2 commenced on date of
notificationremaining provisions commenced 1 May 2002
(see s 2)Psychologists Registration Regulation 2002 SL
No. 82 ss 1–2, 60 sch 2notfd gaz 26 April 2002 pp
1540–3ss 1–2 commenced on date of
notificationremaining provisions commenced 1 May 2002
(see s 2)Dental Technicians and Dental Prosthetists
Registration Regulation 2002 SL No. 83ss 1–2, 13notfd
gaz 26 April 2002 pp 1540–3ss 1–2 commenced on date of
notificationremaining provisions commenced 1 May 2002
(see s 2)Medical Radiation Technologists Registration
Regulation 2002 SL No. 98 ss 1–2, 59sch 3notfd
gaz 10 May 2002 pp 157–8ss 1–2 commenced on date of
notificationremaining provisions commenced 12 May 2002
(see s 2)Note—A regulatory impact statement and
explanatory note were preparedStatutory Bodies
Financial Arrangements Amendment Regulation (No. 2) 2002 SLNo.
103notfd gaz 17 May 2002 pp 235–6commenced on date of notificationStatutory Bodies Financial Arrangements
Amendment Regulation (No. 3) 2002 SLNo. 152notfd
gaz 28 June 2002 pp 876–83ss 1–2 commenced on date of
notificationremaining provisions commenced 1 July 2002
(see s 2)Electrical Safety Regulation 2002 SL No. 260
ss 1–2, 235 sch 7notfd gaz 27 September 2002 pp 340–4ss
1–2 commenced on date of notificationremaining
provisions commenced 1 October 2002 (see s 2)Note—A regulatory
impact statement and explanatory note were preparedStatutory Bodies Financial Arrangements
Amendment Regulation (No. 4) 2002 SLNo. 264notfd
gaz 4 October 2002 pp 423–4commenced on date of
notification
31Statutory Bodies Financial Arrangements
Regulation1997Statutory Bodies Financial Arrangements
Amendment Regulation (No. 1) 2003 SLNo. 62notfd
gaz 11 April 2003 pp 1315–6commenced on date of
notificationStatutory Bodies Financial Arrangements
Amendment Regulation (No. 2) 2003 SLNo. 91notfd
gaz 23 May 2003 pp 287–8ss 1–2 commenced on date of
notificationremaining provisions commenced 23 May 2003
(see s 2)Statutory Bodies Financial Arrangements
Amendment Regulation (No. 3) 2003 SLNo. 112notfd
gaz 20 June 2003 pp 633–6ss 1–2 commenced on date of
notificationremaining provisions commenced 1 July 2003
(see s 2)Housing Regulation 2003 SL No. 333 ss 1–2(1),
59 sch 4notfd gaz 12 December 2003 pp 1203–7ss
1–2 commenced on date of notificationremaining
provisions commenced 1 January 2004 (see s 2(1))Statutory Bodies Financial Arrangements
Amendment Regulation (No. 1) 2004 SLNo. 125notfd
gaz 16 July 2004 pp 856–7commenced on date of
notificationLocal Government (Community Government Areas)
Regulation 2004 SL No. 319 ss1–2, 23 sch
1notfd gaz 17 December 2004 pp 1277–85ss
1–2 commenced on date of notificationremaining
provisions commenced 1 January 2005 (see s 2)Statutory Bodies
Financial Arrangements Amendment Regulation (No. 1) 2005 SLNo.
9notfd gaz 18 February 2005 pp 596–7commenced on date of notificationStatutory Bodies Financial Arrangements
Amendment Regulation (No. 2) 2005 SLNo. 89notfd
gaz 20 May 2005 pp 224–6commenced on date of
notificationStatutory Bodies Financial Arrangements
Amendment Regulation (No. 3) 2005 SLNo. 202notfd
gaz 19 August 2005 pp 1380–1commenced on date
of notificationStatutory Bodies Financial Arrangements
Amendment Regulation (No. 4) 2005 SLNo. 269notfd
gaz 18 November 2005 pp 1052–3commenced on date
of notification
32Statutory Bodies Financial Arrangements
Regulation1997Education and Other Legislation
Amendment Regulation (No. 1) 2005 SL No. 310pts 1, 6notfd
gaz 16 December 2005 pp 1490–6ss 1–2 commenced
on date of notificationremaining provisions commenced 1
January 2006 (see s 2)Statutory Bodies Financial Arrangements
Amendment Regulation (No. 1) 2006 SLNo. 48notfd
gaz 31 March 2006 pp 1282–5commenced on date of
notificationStatutory Bodies Financial Arrangements
Amendment Regulation (No. 2) 2006 SLNo. 141notfd
gaz 23 June 2006 pp 898–902commenced on date of
notificationHealth Quality and Complaints Commission Act
2006 No. 25 ss 1–2(1), 241(1) sch 3date of assent 29
May 2006ss 1–2 commenced on date of assentremaining provisions commenced 1 July 2006
(see s 2(1))Education (General Provisions) Regulation
2006 SL No. 246 ss 1, 2(3), 90(1) sch 1notfd gaz 6
October 2006 pp 577–80ss 1–2 commenced on date of
notificationremaining provisions commenced 30 October
2006 (see s 2(3))Statutory Bodies Financial Arrangements
Amendment Regulation (No. 3) 2006 SLNo. 268notfd
gaz 10 November 2006 pp 1211–2commenced on date
of notificationStatutory Bodies Financial Arrangements
Amendment Regulation (No. 4) 2006 SLNo. 288notfd
gaz 1 December 2006 pp 1587–90commenced on date
of notification6List of annotationsEntities that are not statutory bodies—Act, s
6(1)(j)s 2Ains 1998 SL No. 312 s 3Prescribed rate of interest—Act, s 23s
2Bins 2002 SL No. 264 s 4Appointee for
statutory body—Act, s 24s 2Cins 2002 SL No.
264 s 4amd 2003 SL No. 112 s 4
33Statutory Bodies Financial Arrangements
Regulation1997Operatingleasesenteredintobylocalgovernmentsarefinancialaccommodation—Act, s 32(3)s
2D(prev s 2B) ins 2000 SL No. 142 s 3renum
2002 SL No. 264 s 3Statutory bodies that may borrow under pt
5—Act, s 33s 3amd 1998 SL No. 312 s 4Category 1 investment power—prescribed
investment arrangements with QIC orQTC—Act, s
44s 4Ains 2003 SL No. 91 s 4Category 1 investment power—prescribed rating
for investment arrangement—Act,s 44(1)(e)s
5amd 1998 SL No. 312 s 5Category 2
investment power—prescribed investment arrangements with QIC
orQTC—Act, s 45s 5Ains
2003 SL No. 91 s 5Category 2 investment power—prescribed rating
for investment arrangement—Act,s 45(c)s
6amd 1998 SL No. 312 s 6Repealss
10om R1 (see RA s 40)SCHEDULE
1—ENTITIES THAT ARE NOT STATUTORY BODIESins 1998 SL No.
312 s 8SCHEDULE 1A—STATUTORY BODIES THAT MAY BORROW
UNDER PART 5OF THE ACT(prev sch 1) amd
1997 SL No. 232 s 3; 1998 SL No. 312 s 7(1)–(4)renum 1998 SL No.
312 s 7(5)amd 1999 SL No. 47 s 3; 1999 Act No. 51 s
228 sch 1; 2000 SL No. 184 s 30;2000 SL No. 294 s
3; 2001 SL No. 27 s 3; 2002 SL No. 57 s 3; 2002 SLNo.
103 s 3; 2002 SL No. 152 s 4; 2003 SL No. 62 s 3; 2003 SL No. 112
s5; 2003 SL No. 333 s 59 sch 4; 2004 SL No.
125 s 3; 2004 SL No. 319 s 23sch 1; 2005 SL
No. 9 s 3; 2005 SL No. 310 s 12; 2006 SL No. 246 s 90(1)sch
1; 2006 SL No. 288 s 3SCHEDULE2—STATUTORYBODIESALLOCATEDCATEGORY1INVESTMENT POWERamd 1997 SL No.
232 s 4; 1998 SL No. 312 s 9; 1999 SL No. 47 s 4; 1999 ActNo.
51 s 228 sch 1; 2000 SL No. 184 s 30; 2000 SL No. 294 s 4; 2001
SLNo. 27 s 4; 2002 SL No. 57 s 4; 2002 SL No.
103 s 4; 2002 SL No. 152 s 5;2002 SL No. 260 s
235 sch 7; 2003 SL No. 62 s 4; 2003 SL No. 91 s 6;2004
SL No. 125 s 4; 2004 SL No. 319 s 23 sch 1; 2005 SL No. 9 s 4;
2005SL No. 269 s 3; 2005 SL No. 310 s 12; 2006
Act No. 25 s 241(1) sch 3;2006 SL No. 246 s 90(1) sch 1; 2006 SL
No. 288 s 4