Document ID: chunk:federal_register_of_legislation:F2023N00627:clause:1_5
Version: federal_register_of_legislation:F2023N00627
Segment Type: clause
Provision Reference: sch 1 cl 5
Character Range: 4855–7315

5  Delegations and authorisations under the CIS Act

Authorisations
 (1) Under subsection 51H(2) of the CIS Act and the Commonwealth Inscribed Stock (Treasurer) Delegations 2023, each person holding, occupying or performing the duties of each of the following offices or positions in the Australian Public Service or Reserve Bank Service, is authorised to exercise the powers under sections 4 and 7 of the CIS Act that have been delegated to Treasurer by the Governor-General:
 (a) the CEO of the AOFM;
 (b) the Head, Funding, Strategy and Research, AOFM;
 (c) the Head, Sustainable Finance, AOFM;
 (d) the Head, Domestic Markets Department, RBA;
 (e) a Deputy Head, Domestic Markets Department, RBA;
 (f) if an office or position covered by a preceding paragraph ceases to exist or is renamed—all of the offices or positions with similar functions or responsibilities within the same agency.
Note: Sections 4 and 7 of the CIS Act relate to creating stock and issuing stock.

Delegations
 (2) Under subsection 51JA(1) of the CIS Act, each item of the table in Schedule 1:
 (a) specifies a function or power under the CIS Act that is delegated to the person or persons referred to in that item in the table (being the persons for the time being holding, occupying or performing the duties of the respective offices or positions in the AOFM or RBA that are specified); and
 (b) sets out any limitation on the delegation covered in that item in the table.
Note: In exercising delegated powers under section 3A of the CIS Act, delegates are subject to the Commonwealth Inscribed Stock (Maximum Total Face Value of Stock and Securities) Direction 2020.
 (3) If an office or position referred to in an item of the table in Schedule 1 ceases to exist or is renamed—all of the offices or positions with similar functions or responsibilities within the same agency are also delegated the function or power as specified in the item of the table.

Direction
 (4) Under paragraph 51JA(3)(b) of the CIS Act, a delegate under subsections 5(2) and 5(3) of this instrument, exercising the Treasurer's power under section 3A of the CIS Act, is directed to exercise the functions and powers in a manner consistent with all of the following:
 (a) the objective of satisfying the on-going budgetary requirements of the Commonwealth, in a prudent and cost-effective manner; and
 (b) the objective of supporting the efficient and effective operation of the government bond market.