Introduction

The Tasmanian Public Finance Corporation ("TASCORP") is established by the Tasmanian Public Finance Corporation Act 1985 (the "TASCORP Act") as amended.  TASCORP is a statutory body corporate.

The registered office of TASCORP is 114 Murray Street, Hobart, Tasmania 7000, Australia.

TASCORP was established to develop and implement borrowing and investment programmes for the benefit of Tasmanian State Authorities.  It has the power to borrow and invest money and to enter into contracts for the purposes of managing borrowings and investments.

Governance

The activities of TASCORP are governed by a Board of Directors appointed by the government of the State of Tasmania (the "Shareholder").  The Shareholder is represented by the Treasurer of the State of Tasmania.

The Board is empowered to govern by the TASCORP Act and by the Government Business Enterprises Act 1995.  The Board and the Shareholder have agreed a Statement of Corporate Intent which summarises TASCORP's strategic plan.

Government Guarantee

Liabilities incurred or assumed by TASCORP are guaranteed by the State of Tasmania.  The terms of the guarantee are contained in Section 15 of the TASCORP Act.