Queensland Treasury Corporation Regulation 1999

Queensland Queensland Treasury Corporation Act 1988 Queensland Treasury Corporation Regulation 1999 Reprinted as in force on 3 September 1999 Reprint No. 1 * This reprint is prepared by the Office of the Queensland Parliamentary Counsel Warning—This reprint is not an authorised copy NOT FURTHER AMENDED LAST REPRINT BEFORE REPEAL See 2010 SL No. 209 s 37 * Minor differences in presentation between this reprint and another reprint with the same number are due to the conversion to new styles. The content has not changed.

Information about this reprint This regulation is reprinted as at 3 September 1999. Minor editorial changes allowed under the provisions of the Reprints Act 1992 have been made to use aspects of format and printing style consistent with current drafting practice (s 35). This page is specific to this reprint. A table of reprints is included in the endnotes. See endnotes for information about when provisions commenced. Dates shown on reprints Reprints dated at last amendment All reprints produced on or after 1 July 2002, hard copy and electronic, are dated as at the last date of amendment. Previously reprints were dated as at the date of publication. If a hard copy reprint is dated earlier than an electronic version published before 1 July 2002, it means the legislation was not further amended and the reprint date is the commencement of the last amendment. If the date of a hard copy reprint is the same as the date shown for an electronic version previously published, it merely means that the electronic version was published before the hard copy version. Also, any revised edition of the previously published electronic version will have the same date as that version. Replacement reprint date If the date of a hard copy reprint is the same as the date shown on another hard copy reprint it means that one is the replacement of the other.

Queensland Queensland Treasury Corporation Regulation 1999 Contents Part 1 1 2 3 Part 2 Division 1 4 5 Division 2 6 7 8 Division 3 9 10 Division 4 11 12 13 Division 5 14 15 16 Page Preliminary Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Dictionary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Inscribed stock Inscribed stock register Keeping inscribed stock register. . . . . . . . . . . . . . . . . . . . . . . . . . 4 Inspection of owners’ ledgers etc. . . . . . . . . . . . . . . . . . . . . . . . . 5 Applications for inscribed stock Corporation to issue prospectus for each series of inscribed stock ........................................ 5 Applications to purchase inscribed stock . . . . . . . . . . . . . . . . . . . 6 Decisions about applications and subsequent actions. . . . . . . . . 6 Powers of attorney and authorised signatory lists Powers of attorney . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Authorised signatory lists . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Recording changes in inscribed stock register, other than changes resulting from transfers of inscribed stock Change of name, or address for service of documents, of owner of inscribed stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Death of joint owner of inscribed stock. . . . . . . . . . . . . . . . . . . . . 8 Death, bankruptcy or liquidation of owner of inscribed stock . . . . 9 Transfers of inscribed stock Registering instruments of transfer . . . . . . . . . . . . . . . . . . . . . . . 9 Marking of instruments of transfer . . . . . . . . . . . . . . . . . . . . . . . . 10 Restrictions on registration of instruments of transfer . . . . . . . . . 11

2 Queensland Treasury Corporation Regulation 1999 Division 6 17 18 19 Part 3 Division 1 20 21 22 23 24 25 26 27 Division 2 28 29 30 31 Division 3 32 33 Part 4 34 35 Part 5 36 37 38 39 40 41 42 43 44 Miscellaneous Accuracy of information or documents given to the Corporation . Change of details in owners’ ledgers, other than under s 11 or 14 Certain information to be kept confidential . . . . . . . . . . . . . . . . . . Performance dividend and attributed amounts Interpretation Meaning of benchmark portfolio . . . . . . . . . . . . . . . . . . . . . . . . . . Meaning of daily pool yield . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Meaning of net value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Meaning of quarterly borrowing margin . . . . . . . . . . . . . . . . . . . . Meaning of yield on the pool . . . . . . . . . . . . . . . . . . . . . . . . . . . . Prescription of periods—Act, ss 19A(2) and 19B(3). . . . . . . . . . . Prescription of Corporation accounts—Act, s 19C(3)(a) . . . . . . . How to round to a decimal place . . . . . . . . . . . . . . . . . . . . . . . . . Performance dividend Total amount of performance dividend for a financial year . . . . . . Performance dividend for pools . . . . . . . . . . . . . . . . . . . . . . . . . . Performance dividend for special arrangements . . . . . . . . . . . . . Payment of performance dividend . . . . . . . . . . . . . . . . . . . . . . . . Attributed amounts Calculation of attributed amounts. . . . . . . . . . . . . . . . . . . . . . . . . Payment of attributed amount . . . . . . . . . . . . . . . . . . . . . . . . . . . Fees and forms Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Forms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repeal and transitional provisions Definitions for pt 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repeal of Queensland Treasury Corporation Regulation 1989 . . Existing register . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Continuing ownership of inscribed stock . . . . . . . . . . . . . . . . . . . Existing applications to purchase inscribed stock . . . . . . . . . . . . Existing applications by persons claiming entitlement to inscribed stock ............................... Existing instruments of transfer of inscribed stock . . . . . . . . . . . . Existing powers of attorney and authorised signatory lists etc. . . Continuance of markings, notifications, directions etc.. . . . . . . . . 11 11 12 12 13 13 14 14 15 15 15 15 16 16 17 17 18 18 18 19 19 19 19 19 20 20 20 20

3 Queensland Treasury Corporation Regulation 1999 45 46 Schedule 1 Schedule 2 Schedule 3 Schedule 4 Obligations for performance dividends and attributed amounts for 1998–1999 and 1999–2000 financial years . . . . . . . . . . . . . . References to repealed regulation . . . . . . . . . . . . . . . . . . . . . . . . Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Benchmark portfolio for floating rate debt pool . . . . . . . . . . . Notional loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dictionary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 21 22 23 24 25 Endnotes 1 2 3 4 5 Index to endnotes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Date to which amendments incorporated. . . . . . . . . . . . . . . . . . . . . . Key . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Table of reprints . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . List of legislation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 28 28 29 29

s1 4 s4 Queensland Treasury Corporation Regulation 1999 Queensland Treasury Corporation Regulation 1999 [reprinted as in force on 3 September 1999] Part 1 Preliminary 1 Short title This regulation may be cited as the Queensland Treasury Corporation Regulation 1999 . 2 Commencement This regulation commences on 30 August 1999. 3 Dictionary The dictionary in schedule 4 defines particular words used in this regulation. Part 2 Inscribed stock Division 1 Inscribed stock register 4 Keeping inscribed stock register (1) The Corporation must keep a register of inscribed stock (the inscribed stock register ) allotted by it. (2) The inscribed stock register must include a ledger (an owner’s ledger ) for each owner of inscribed stock. (3 ) An owner’s ledger must include the following information—

s5 5 s6 Queensland Treasury Corporation Regulation 1999 (a) the name of the owner; (b) the owner’s address for service of documents; (c) the details of the inscribed stock owned by the owner; (d) the interest rate applying to, and the maturity date of, the stock. (4) The Corporation must also record in the register anything else required to be recorded by the Act. (5) The register may be kept in any way, and at any location, the Corporation considers appropriate. (6) If there is a change in the location at which the register is kept, the Corporation must give written notice of the new location to the owners of inscribed stock. 5 Inspection of owners’ ledgers etc. (1) An owner of inscribed stock, or the owner’s attorney, authorised signatory or agent, may inspect the owner’s ledger during business hours on business days. (2) On the written request of an owner of inscribed stock, or the owner’s attorney, authorised signatory or agent, and payment of the fee stated in schedule 1, the Corporation must, as requested, give the owner, attorney, signatory or agent— (a) a copy of the owner’s ledger or a part of it; or (b) a certified document stating the details in the ledger. Division 2 Applications for inscribed stock 6 Corporation to issue prospectus for each series of inscribed stock When the Corporation issues a series of inscribed stock, it must issue a prospectus for the series.

s7 6 s8 Queensland Treasury Corporation Regulation 1999 7 Applications to purchase inscribed stock (1) An application to purchase inscribed stock in a series of inscribed stock from the Corporation must— (a) be made to the Corporation at the address stated in the application form accompanying the prospectus for the series; and (b) be in the application form; and (c) be accompanied by documents, reasonably required by the Corporation, stated in the application form; and (d) comply with the conditions stated in the prospectus. (2) By applying to the Corporation to purchase inscribed stock in a series of inscribed stock, the applicant is taken to have accepted the conditions of issue of the stock stated in the prospectus for the series. (3) The Corporation must consider the application and either grant, or refuse to grant, the application. 8 Decisions about applications and subsequent actions (1) If the Corporation grants the application, the Corporation must— (a) decide whether to allot the whole, or part of, the inscribed stock applied for; and (b) record the allotment in the inscribed stock register; and (c) give the applicant written notice of the allotment. (2) When the allotment is recorded in the inscribed stock register, the applicant becomes the owner of the stock. (3) If the Corporation refuses to grant the application, the Corporation must— (a) give the applicant written notice of the decision; and (b) return the application form and documents that accompanied the application to the applicant.

s 9 7 s 11 Queensland Treasury Corporation Regulation 1999 Division 3 Powers of attorney and authorised signatory lists 9 Powers of attorney (1) The Corporation may act on a power of attorney. (2) However, before the Corporation may act on a power of attorney relating to an attorney of a person— (a) the attorney or person must have given a copy of the power of attorney certified under the Powers of Attorney Act 1998 , section 14 1 to the Corporation; and (b) if the power of attorney does not contain the attorney’s signature—the attorney or person must have given a specimen of the signature to the Corporation. 10 Authorised signatory lists (1) The Corporation may act on an authorised signatory list. (2) However, before the Corporation may act on an authorised signatory list relating to an authorised signatory of a person— (a) the signatory or person must have given the list to the Corporation; and (b) if the list does not contain the signatory’s signature—the signatory or person must have given a specimen of the signature to the Corporation. Division 4 Recording changes in inscribed stock register, other than changes resulting from transfers of inscribed stock 11 Change of name, or address for service of documents, of owner of inscribed stock (1) This section applies if there is a change in— 1 Powers of Attorney Act 1998 , section 14 (Proof of power of attorney)

s 12 8 s 12 Queensland Treasury Corporation Regulation 1999 (a) the name of the owner of inscribed stock; or (b) the owner’s address for service of documents as included in the owner’s ledger. (2) The owner may give notice of the change to the Corporation. (3) The notice must— (a) be in the approved form; and (b) be accompanied by documents, reasonably required by the Corporation, stated in the approved form. (4) After receipt of the notice, the Corporation must— (a) record the change in the owner’s ledger; and (b) give the owner written notice of the change made to the ledger. 12 Death of joint owner of inscribed stock (1) If a joint owner of inscribed stock dies, the surviving joint owner of the stock may apply to the Corporation to have the deceased owner’s name taken off the inscribed stock register as an owner of the stock. (2) The application must— (a) be in the approved form; and (b) be accompanied by documents, reasonably required by the Corporation, stated in the approved form. (3) If the Corporation grants the application, the Corporation must— (a) take the deceased owner’s name off the register as an owner of the stock; and (b) give the applicant written notice of the change made to the register. (4) If the Corporation refuses to grant the application, the Corporation must— (a) give the applicant written notice of the decision; and (b) return the application form and documents that accompanied the application to the applicant.

s 13 9 s 14 Queensland Treasury Corporation Regulation 1999 13 Death, bankruptcy or liquidation of owner of inscribed stock (1) This section applies if— (a) the owner of inscribed stock, other than a joint owner, dies; or (b) the owner of inscribed stock becomes bankrupt or goes into liquidation. (2) A person claiming entitlement to the stock may apply, in the approved form, to the Corporation to have the person recorded as the owner of the stock in the inscribed stock register. (3) The application must be accompanied by documents, reasonably required by the Corporation, stated in the approved form. (4) If the Corporation grants the application, the Corporation must— (a) record the applicant, in the register, as the owner of the stock; and (b) give the applicant written notice of the change made to the register. (5) If the Corporation refuses to grant the application, the Corporation must— (a) give the applicant written notice of the decision; and (b) return the application form and documents that accompanied the application to the applicant. Division 5 Transfers of inscribed stock 14 Registering instruments of transfer (1) A person may file an instrument of transfer of inscribed stock with the Corporation for registration. (2) The instrument must— (a) be in the approved form; and

s 15 10 s 15 Queensland Treasury Corporation Regulation 1999 (b) be accompanied by documents, reasonably required by the Corporation, stated in the approved form. (3) If the Corporation registers the instrument, the Corporation must give written notice of the registration to the parties to the instrument. (4) On registration of the instrument, the transferee becomes the owner of the stock. (5) If the Corporation refuses to register the instrument, the Corporation must— (a) give written notice of the decision to the parties to the instrument; and (b) return the instrument to— (i) the person who filed the instrument; or (ii) if the Corporation can not identify or locate the person after making reasonable inquiries—a party to the instrument. 15 Marking of instruments of transfer (1) Subject to subsection (2), if requested in writing by an owner of inscribed stock, the Corporation must mark an instrument of transfer of the stock. (2) The Corporation may only mark an instrument of transfer of inscribed stock if the Corporation is satisfied— (a) the transferor is the owner of the stock; and (b) the instrument has been validly executed by the transferor. (3) The marking period stated in the marking of the instrument must end before the day that is 7 days immediately before the stock’s maturity date. (4) If an instrument of transfer of inscribed stock (the marked transfer ) is marked, the Corporation must give the owner of the stock written notice of the marking. (5) During the marking period for the marked transfer, the Corporation must refuse to register an instrument of transfer of the stock, other than the marked transfer.

s 16 11 s 18 Queensland Treasury Corporation Regulation 1999 16 Restrictions on registration of instruments of transfer (1) If the Corporation registers an instrument of transfer of inscribed stock on an interest payment date of the stock, or within 7 days immediately before the date, the interest payable on the stock on the date is not payable to the transferee but is payable to the transferor. (2) The Corporation must not register an instrument of transfer of inscribed stock on the stock’s maturity date or within 7 days immediately before the date. Division 6 Miscellaneous 17 Accuracy of information or documents given to the Corporation (1) This section applies if the Corporation wants to satisfy itself about the accuracy of any information or document given by a person to the Corporation about an application, instrument of transfer of inscribed stock or notice made, filed or given under this part. (2) The Corporation may make a written request of the person to give the Corporation a statutory declaration about the accuracy of the information or document. (3) The Corporation is not required to further consider the application or instrument, or give effect to the notice, unless the person complies with the request. 18 Change of details in owners’ ledgers, other than under s 11 or 14 (1) If the Corporation changes the details in an owner’s ledger, the Corporation must give the owner written notice of the change.

s 19 12 s 20 Queensland Treasury Corporation Regulation 1999 (2) Subsection (1) does not apply to a change made under section 11 2 or 14. 3 19 Certain information to be kept confidential (1) A person involved in the administration of this part who, because of the person’s involvement, acquires or acquired information relating to inscribed stock that identifies the owner of the stock, must not disclose the information to anyone else. (2) However, subsection (1) does not apply if the disclosure is— (a) authorised under the Act or another Act; or (b) otherwise required or permitted by law; or (c) made with the consent of the owner or the owner’s attorney or authorised signatory; or (d) made to the owner or the owner’s attorney, authorised signatory or agent. Part 3 Performance dividend and attributed amounts Division 1 Interpretation 20 Meaning of benchmark portfolio (1) The benchmark portfolio , for a pool other than the floating rate debt pool, is a notional portfolio made up of the weighting of both— 2 A change made to an owner’s ledger under section 11 (Change of name, or address for service of documents, of owner of inscribed stock) must be notified to the owner under subsection (4)(b). 3 The registration of an instrument of transfer of inscribed stock under section 14 (Registering instruments of transfer) must be notified to the parties to the instrument under subsection (3).

s 21 13 s 22 Queensland Treasury Corporation Regulation 1999 (a) the relevant stock for the pool; and (b) the benchmark portfolio for the floating rate debt pool. (2) The weighting must be calculated using a mathematical algorithm decided by the Corporation. (3) A calculation under subsection (2) must ensure, as far as practicable, that— (a) the duration of the benchmark portfolio is the same as the duration of the notional loan; and (b) the cashflow profile of the benchmark portfolio is closely matched to the cashflow profile of the notional loan. 21 Meaning of daily pool yield The daily pool yield , for a pool, is calculated using the following formula— M ------ V ---- M - 2 ---- – V ---- M - 1 ----- V ---- 1 -  100% where— MV 1 is the net value of the pool at market closing on the day before the day for which the daily pool yield is being calculated. MV 2 is the net value of the pool at market closing on the day for which the daily pool yield is being calculated after adjustment to remove the effect of changes in net borrowings from the pool between market closing on the day before, and market closing on, the day for which the daily pool yield is being calculated. 22 Meaning of net value (1) The net value , of a pool on a day, is the amount calculated by subtracting the market value of the pool’s liabilities at market closing on the day from the market value of the pool’s assets at market closing on the day.

s 23 14 s 24 Queensland Treasury Corporation Regulation 1999 (2) The market values of the pool’s assets and liabilities at market closing on a day are the values decided for the day by the Corporation having regard to the market rates on the stock forming the pool. 23 Meaning of quarterly borrowing margin (1) The quarterly borrowing margin , for a pool, is the amount calculated by subtracting the yield on the benchmark portfolio for the pool from the simple average of the yields of the notional portfolios of all central financing authorities. (2) For calculating the margin, the Corporation must, at the end of each financial quarter— (a) calculate the benchmark portfolio for the pool; and (b) construct notional portfolios for each central financing authority, to reflect the benchmark portfolio, as if each central financing authority had issued notional stock equivalent to the relevant stock used by the Corporation to calculate the benchmark portfolio; and (c) calculate— (i) the yield for the benchmark portfolio; and (ii) the yield for each of the notional portfolios. (3) In calculating each yield under subsection 2(c)(ii), the Corporation must have regard to the market rates on the central financing authorities’ stock that is equivalent or similar to the notional stock. 24 Meaning of yield on the pool The yield on the pool , for a financial year, is obtained by compounding the daily pool yields for the pool over the year.

s 25 15 s 28 Queensland Treasury Corporation Regulation 1999 25 Prescription of periods—Act, ss 19A(2) and 19B(3) For sections 19A(2) and 19B(3) 4 of the Act, each financial year is a prescribed period. 26 Prescription of Corporation accounts—Act, s 19C(3)(a) For section 19C(3)(a) 5 of the Act, the following are the prescribed accounts of the Corporation— (a) the floating rate debt pool; (b) the 3 year debt pool; (c) the 6 year debt pool; (d) the 9 year debt pool; (e) the 12 year debt pool; (f) the 15 year debt pool. 27 How to round to a decimal place (1) This section applies if a percentage must be rounded to a particular decimal place. (2) If the number immediately after the place is less than 5, the number at the place is not changed. (3) If the number immediately after the place is 5 or more, the number at the place is rounded up to the next whole number. Division 2 Performance dividend 28 Total amount of performance dividend for a financial year The amount of the performance dividend payable by the Corporation for a financial year is the total of— 4 Queensland Treasury Corporation Act 1988 , sections 19A (Performance dividend) and 19B (Attributed amounts) 5 Queensland Treasury Corporation Act 1988 , section 19C (Attributed amounts become debts owing or part of outstanding amount)

s 29 16 s 30 Queensland Treasury Corporation Regulation 1999 (a) the performance dividend payable for each pool for the year; and (b) the performance dividend payable for all special arrangements for the year. 29 Performance dividend for pools (1) For section 19A(2) 6 of the Act, the performance dividend payable for a pool for a financial year is the amount equal to the sum of the increase in the net value of the pool on the last day of the year that would result if the daily pool yields for the pool over the year were increased by the dividend percentage for the pool for the year. (2) The dividend percentage , rounded to the second decimal place, for a pool for a financial year is calculated using the following formula— B ----- M ------- + -----  -- B ---- P -- 2 -- Y ------ – ---- A ----- P --- Y ------  where— BM means the simple average, rounded to the fourth decimal place, of the quarterly borrowing margins for the pool for the year. BPY means the yield on the benchmark portfolio for the pool for the year, as calculated by the Corporation. APY means the yield on the pool for the year, as calculated by the Corporation. (3) If the dividend percentage calculated under subsection (2) is less than 0, the dividend percentage is taken to be 0. 30 Performance dividend for special arrangements (1) The performance dividend payable for a special arrangement for a financial year is the amount calculated by multiplying the average of the outstanding amounts under the arrangement over the year by the weighted average dividend percentage for the arrangement for the year. 6 Queensland Treasury Corporation 1988 , section 19A (Performance dividend)

s 31 17 s 32 Queensland Treasury Corporation Regulation 1999 (2) The weighted average dividend percentage , rounded to the second decimal point, for a special arrangement for a financial year, is calculated using the following formula— - CB -- where— B means the total of the amounts calculated by multiplying the dividend percentage for each pool for the year by the net value of the pool on the last day of the year. C means the total of all the net values of the pools on the last day of the year. 31 Payment of performance dividend (1) As soon as practicable after the end of a financial year, the Corporation must calculate the amount of the performance dividend payable by it and give notice of the amount to the Treasurer. (2) The dividend is payable within 14 days after the notice is given. (3) If the Corporation has not given the notice within 45 days after the end of the financial year to which the dividend relates, the Corporation must give the Treasurer its reasons for not giving the notice. Division 3 Attributed amounts 32 Calculation of attributed amounts The attributed amount payable for a financial arrangement entered into by the Corporation with a statutory body or other person for a financial year is calculated as follows— (a) if the arrangement is associated with a pool—the attributed amount is the increase in the outstanding amount under the arrangement on the last day of the year that would result if the daily pool yields for the

s 33 18 s 35 Queensland Treasury Corporation Regulation 1999 pool over the year were increased by the dividend percentage for the pool for the year; (b) if the arrangement is a special arrangement—the attributed amount is calculated by applying the weighted average dividend percentage for the special arrangement for the year to the average of the outstanding amounts under the special arrangement over the year. 33 Payment of attributed amount (1) As soon as practicable after the end of a financial year, the Corporation must calculate the attributed amount payable for each financial arrangement entered into by it with a statutory body or other person and give notice of the amount to the body or person. (2) The attributed amount is payable within 14 days after the notice is given. Part 4 Fees and forms 34 Fees The fees payable under the Act are in schedule 1. 35 Forms The Corporation may approve forms for use under this regulation.

s 36 19 s 40 Queensland Treasury Corporation Regulation 1999 Part 5 Repeal and transitional provisions 36 Definitions for pt 5 In this part— commencement means commencement of this section. registrar means the person appointed by the Corporation as the registrar under the repealed regulation. repealed regulation means the Queensland Treasury Corporation Regulation 1989 . 37 Repeal of Queensland Treasury Corporation Regulation 1989 The Queensland Treasury Corporation Regulation 1989 is repealed. 38 Existing register The register of inscribed stock ledgers, as in existence immediately before the commencement, continues as the inscribed stock register under this regulation. 39 Continuing ownership of inscribed stock A person who, immediately before the commencement, was recorded as the owner of inscribed stock in the inscribed stock register is the owner of the stock, under this regulation, on the same conditions on which the stock was allotted by the Corporation under the repealed regulation. 40 Existing applications to purchase inscribed stock An application to purchase inscribed stock, made under the repealed regulation and not decided at the commencement, must be decided under this regulation.

s 41 20 s 44 Queensland Treasury Corporation Regulation 1999 41 Existing applications by persons claiming entitlement to inscribed stock An application by a person claiming entitlement to inscribed stock to be registered as the owner of the stock, made under the repealed regulation and not decided at the commencement, must be decided under this regulation. 42 Existing instruments of transfer of inscribed stock An instrument of transfer of inscribed stock, delivered to the registrar under the repealed regulation and not registered at the commencement, is taken to have been filed with the Corporation for registration under this regulation. 43 Existing powers of attorney and authorised signatory lists etc. A power of attorney or authorised signatory list lodged with, or specimen signature supplied to, the registrar under the repealed regulation and held by the registrar immediately before the commencement is taken to have been given to the Corporation under this regulation. 44 Continuance of markings, notifications, directions etc. (1) This section applies if— (a) a provision of the repealed regulation expressly or impliedly authorised or required— (i) the marking of an instrument of transfer of inscribed stock; or (ii) the giving of a notification or direction; or (iii) the doing of anything else; and (b) a provision of this regulation (the replacement provision ) expressly or impliedly authorises or requires— (i) a similar marking to be made; or (ii) a similar notification or direction to be given; or (iii) a similar thing to be done.

s 45 21 s 46 Queensland Treasury Corporation Regulation 1999 (2) A marking, notification, direction or other thing stated in subsection (1) that was in force immediately before the commencement continues to have effect after the commencement as if it had been done under the replacement provision. 45 Obligations for performance dividends and attributed amounts for 1998–1999 and 1999–2000 financial years (1) If an amount that was required to be calculated and paid under the Queensland Treasury Corporation Regulation 1989 , part 3, division 2 or 3 7 for the financial year starting on 1 July 1998— (a) has not been calculated before the commencement—the repeal of the regulation does not affect the requirements to calculate and pay the amount; or (b) has been calculated, but not paid, before the commencement—the repeal of the regulation does not affect the requirement to pay the amount. (2) For the purpose of calculating any amount payable under part 3 for the financial year starting on 1 July 1999, part 3 is taken to have commenced on that day. 46 References to repealed regulation In an Act or document, a reference to the repealed regulation may, if the context permits, be taken as a reference to this regulation. 7 Queensland Treasury Corporation Regulation 1989 , part 3, division 2 (Performance dividend) or 3 (Attributed amounts)

22 Queensland Treasury Corporation Regulation 1999 Schedule 1 Fees section 34 $ 1 Copy of an owner’s ledger or a part of it— (a) for less than 10 pages . . . . . . . . . . . . . . . . . . . . . . . . 15.00 (b) for 10 pages or more . . . . . . . . . . . . . . . . . . . . . . . . . 29.00 2 Certified document stating details in an owner’s ledger— (a) for less than 10 pages . . . . . . . . . . . . . . . . . . . . . . . . 15.00 (b) for 10 pages or more . . . . . . . . . . . . . . . . . . . . . . . . . 29.00

23 Queensland Treasury Corporation Regulation 1999 Schedule 2 Benchmark portfolio for floating rate debt pool schedule 4, definition benchmark portfolio Relevant stock Weighting 11 am cash 25% 30 day bank bill 25% 60 day bank bill 25% 90 day bank bill 20% 180 day bank bill 5%

24 Queensland Treasury Corporation Regulation 1999 Schedule 3 Notional loans schedule 4, definition notional loan Column 1 Pool 3 year debt pool 6 year debt pool 9 year debt pool 12 year debt pool 15 year debt pool Column 2 Term of loan 3 year 6 years 9 years 12 years 15 years Column 3 Column 4 Repayment of loan Interest rate of loan 12 equal repayments 24 equal repayments 36 equal repayments 48 equal repayments 60 equal repayments Set daily from market rates Set daily from market rates Set daily from market rates Set daily from market rates Set daily from market rates

25 Queensland Treasury Corporation Regulation 1999 Schedule 4 Dictionary section 3 agent , of a person, means the person’s agent appointed in writing by the person. approved form means a form approved by the Corporation. attorney , of a person, means the person’s attorney appointed under a power of attorney. authorised signatory , of a person, means someone who is authorised, under an authorised signatory list, to sign a document on behalf of the person, other than the person’s attorney or agent. authorised signatory list means a document, signed by a person, stating the person’s authorised signatory. benchmark portfolio means— (a) for the floating rate debt pool—the notional portfolio made up of relevant stock with the weighting stated in schedule 2; or (b) for a pool other than the floating rate debt pool—see section 20. central financing authority means any of the following— (a) New South Wales Treasury Corporation; (b) South Australian Government Financing Authority; (c) Tasmanian Public Finance Corporation; (d) Treasury Corporation of Victoria; (e) Western Australian Treasury Corporation. commencement , for part 5, see section 36. daily pool yield see section 21. dividend percentage , for a pool for a financial year, see section 29(2).

26 Queensland Treasury Corporation Regulation 1999 Schedule 4 (continued) duration means the weighted average of the term of each cashflow of a stock or portfolio of stock, where the term is weighted by the ratio of the present value of the cashflow divided by the sum of the net present value of all the relevant cashflows. financial quarter means the 3 successive months of a financial year that end on 30 September, 31 December, 31 March or 30 June. floating rate debt pool means the Corporation’s account prescribed under section 26(a). inscribed stock means inscribed stock of the Corporation. inscribed stock register see section 4(1). interest payment date , of inscribed stock, means a date on which interest on the stock is payable by the Corporation to its owner. joint owner , of inscribed stock, means an individual who owns the stock as joint tenant with 1 or more other individuals. mark , an instrument of transfer of inscribed stock, means record on the instrument and inscribed stock register that the inscribed stock the subject of the instrument is reserved during the instrument’s marking period. market closing means the time when daily trading closes on the Sydney Futures Exchange. market rates , on stock, means the traded yields on the stock in the financial market. marking period , for an instrument of transfer of inscribed stock, means the period stated in a marking of the instrument for which the marking is valid. maturity date , of inscribed stock, means the date on which the stock’s principal becomes repayable by the Corporation to its owner. net value see section 22.

27 Queensland Treasury Corporation Regulation 1999 Schedule 4 (continued) notional loan , for a pool stated in schedule 3, column 1, means a loan for the term, with the repayments and at the interest rate stated in columns 2, 3 and 4 respectively for the pool. notional portfolio means— (a) for a central financing authority—a portfolio of notional stock; or (b) for the Corporation—a portfolio of relevant stock. notional stock , for a central financing authority, means the theoretical stock for the central financing authority that would be the same, other than for yield, as stock stated by the Corporation to be relevant stock. owner , of inscribed stock, means the person recorded in the inscribed stock register as the owner of the stock. owner’s ledger see section 4(2). pool means a pool stated in section 26. quarterly borrowing margin see section 23. register , an instrument of transfer of inscribed stock, means record details of the instrument in the inscribed stock register. registrar , for part 5, see section 36. relevant stock , for a pool, means the stock stated by the Corporation to be used for calculating the benchmark portfolio. repealed regulation , for part 5, see section 36. special arrangement means a financial arrangement under section 19(1) 8 of the Act that is not associated with a pool. weighted average dividend percentage , for a special arrangement for a financial year, see section 30(2). yield on the pool see section 24. 8 Queensland Treasury Corporation Act 1988 , section 19 (Lending powers of Corporation)

28 Queensland Treasury Corporation Regulation 1999 Endnotes 1 Index to endnotes Page 2 Date to which amendments incorporated . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .28 3 Key . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .28 4 Table of reprints . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29 5 List of legislation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29 2 Date to which amendments incorporated This is the reprint date mentioned in the Reprints Act 1992, section 5(c). However, no amendments have commenced operation on or before that day. Future amendments of the Queensland Treasury Corporation Regulation 1999 may be made in accordance with this reprint under the Reprints Act 1992, section 49. 3 Key Key to abbreviations in list of legislation and annotations Key AIA amd amdt ch def div exp gaz hdg ins lap notfd o in c om orig p para prec pres prev Explanation = 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 = previous Key (prev) proc prov pt pubd R[X] RA reloc renum rep (retro) rv s sch sdiv SIA SIR SL sub unnum Explanation = 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

29 Queensland Treasury Corporation Regulation 1999 4 Table of reprints Reprints are issued for both future and past effective dates. For the most up-to-date table of reprints, see the reprint with the latest effective date. If a reprint number includes a letter of the alphabet, the reprint was released in unauthorised, electronic form only. Reprint No. 1 Amendments included none Effective 30 August 1999 Reprint date 3 September 1999 5 List of legislation Queensland Treasury Corporation Regulation 1999 SL No. 198 made by the Governor in Council on 26 August 1999 notfd gaz 27 August 1999 pp 2224–7 ss 1–2 commenced on date of notification remaining provisions commenced 30 August 1999 (see s 2) exp 1 September 2009 (see SIA s 54) Note—The expiry date may have changed since this reprint was published. See the latest reprint of the SIR for any change. © State of Queensland 2010