Document ID: chunk:federal_register_of_legislation:C2004A03724:body:0:p2
Version: federal_register_of_legislation:C2004A03724
Segment Type: other
Provision Reference: 
Character Range: 2580–5303

taken by or on behalf of the Commonwealth:
         (i) under any agreement referred to in paragraph (a) or (b) or following the issue of a document under paragraph (c); or
         (ii) for any purpose relating to the borrowing.

Power of Treasurer to enter into swaps or other financial arrangements
"5b. (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.

Jurisdiction of foreign courts
"5c. (1) The Treasurer may, on behalf of the Commonwealth, enter into a written agreement or undertaking under which the Commonwealth agrees or undertakes to submit to the jurisdiction of a foreign court for the purposes of any action or proceeding before that court relating to:
     (a) an agreement referred to in section 5a or subsection 5b (1); or
     (b) the issue by the Treasurer of any stock or security in relation to the borrowing of money outside Australia.
"(2) Subject to any other Act, the Treasurer may, on behalf of the Commonwealth, in connection with:
     (a) any action or proceeding referred to in subsection (1); or
     (b) the execution of any order made or judgment given in such an action or proceeding;
waive, and enter into a written agreement or undertaking under which the Commonwealth agrees or undertakes to waive, any immunity from suit or other legal process of:
     (c) the Commonwealth; or
     (d) any property or asset of, or in the custody of, or administered by, the Commonwealth (other than any property or asset used or intended to be used for any diplomatic, consular or military purpose).

Delegation
"5d. (1) The Treasurer may, by signed instrument, delegate to:
     (a) a specified officer of the Department; or
     (b) any person who from time to time holds, or performs the duties of, a specified office in the Department;
all or any of the following powers:
     (c) the powers (if any) of the Treasurer under subsection 3 (2) to determine matters for the purposes of paragraph 3 (1) (b) or (c);
     (d) the powers of the Treasurer under sections 5a, 5b and 5c.
"(2)