Document ID: chunk:federal_register_of_legislation:C2004A01836:body:0:p2
Version: federal_register_of_legislation:C2004A01836
Segment Type: other
Provision Reference: 
Character Range: 2431–4521

the Treasury any of his powers under section 6.
"(2) A power so delegated, when exercised by the delegate, shall, for the purposes of this Act, be deemed to have been exercised by the Treasurer.
"(3) A delegation under sub-section (1) does not prevent the exercise of a power by the Treasurer.
"(4) Section 70a of the Audit Act 1901 applies in relation to the power of the Minister of Finance to invest moneys under sub-section 6 (4) of this Act in like manner as that section applies in relation to powers of that Minister under the Audit Act 1901.

Treasurer deemed to be corporation for purpose of investment of Reserve
"8. The Treasurer and his successors in office shall, for the purposes of the investment of any moneys in pursuance of sub-section 6(3), be deemed to be a corporation by the name of 'The Treasurer of the Commonwealth', and any securities taken in pursuance of that sub-section may be taken by him in his corporate name.".

Transitional
6. (1) Any securities other than Treasury Bills that were taken by the Treasurer before 20 December 1977 under section 62b of the Audit Act 1901 in the investment of moneys standing to the credit of the Reserve shall be deemed to have been taken by him in his corporate name under section 8 of the Principal Act as amended by this Act.

(2) Any moneys invested otherwise than in Treasury Bills by the Minister for Finance on or after 20 December 1977 and before the commencement of this Act in accordance with section 62b of the Audit Act 1901 as it applied by virtue of sub-section 6(3) of the Principal Act shall be deemed to have been invested by the Treasurer under sub-section 6(3) of the Principal Act as amended by this Act.

(3) Any securities other than Treasury Bills that were taken by the Minister for Finance on or after 20 December 1977 and before the commencement of this Act under section 62b of the Audit Act 1901 in the investment of moneys standing to the credit of the Reserve shall be deemed to have been taken by the Treasurer in his corporate name under section 8 of the Principal Act as amended by this Act.