Commonwealth Consolidated Acts

COMMONWEALTH INSCRIBED STOCK ACT 1911 - SECT 51JA

             (1)  The Treasurer may, by signed instrument, delegate all or any of the Treasurer's powers under section 3A to:

                     (a)  an SES employee in the Department; or

                     (b)  an APS employee who holds or performs the duties of an Executive Level 2, or equivalent, position in the Department; or

                     (c)  a person appointed as a staff member of the Reserve Bank Service under section 67 of the Reserve Bank Act 1959 who occupies an office or position at an equivalent level to that of an SES employee, or an Executive Level 2, in the Department.

             (2)  The Treasurer must, by signed instrument, give a direction as to the maximum total face value of stock and securities that may be on issue under this Act and the Loans Securities Act 1919 , disregarding stock and securities of the kind mentioned in subsection 5(2), in relation to borrowings under section 3A of this Act and section 4 of the Loans Redemption and Conversion Act 1921 while the direction is in force.

             (3)  In exercising the Treasurer's powers under section 3A, a delegate must comply with:

                     (a)  a direction in force under subsection (2); and

                     (b)  any other direction given, by signed instrument, to the delegate by the Treasurer.

             (4)  The Treasurer must table a direction given under subsection (2) or paragraph (3)(b) in each House of the Parliament no later than 15 sitting days of that House after it is given.