Document ID: chunk:federal_register_of_legislation:C2014C00610:section:5b
Version: federal_register_of_legislation:C2014C00610
Segment Type: section
Provision Reference: s 5B
Character Range: 6117–6948

5B  Power of Treasurer to enter into swaps or other financial arrangements
 (1) The Treasurer may, on behalf of the Commonwealth, enter into an agreement with any person or organisation or the government of any country, either within or outside Australia, under which:
 (a) the Commonwealth undertakes to make payments in any currency to, or to the account of, the other party to the agreement; and
 (b) the other party undertakes to make payments to, or to the account of, the Commonwealth, in the same or any other currency.
 (2) Any money payable by the Commonwealth under an agreement under subsection (1) and any expenditure incurred in connection with the negotiation, management or service of, or a repayment under, any such agreement, shall be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.