Functions and Powers

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TASCORP Functions and Powers

The functions and powers of the Tasmanian Public Finance Corporation are detailed in Section 11 of the Tasmanian Public Finance Corporation Act 1985 and the Tasmanian Public Finance Corporation Amendment Act 1995 as follows:

“to develop and implement borrowing and investment programmes for the benefit of participating authorities; and … to engage in such other activities relating to the finances of the Government of the State or participating authorities as are contemplated by this Act or approved by the Treasurer.”
In addition, the Corporation may provide with the approval of the Treasurer:
  • Borrow money within or outside Australia;
  • Lend money to State authorities;
  • Accept money on deposit or loan from the Treasurer or a State authority;
  • Place on deposit with the Treasurer, a bank, or a financial institution money held by the Corporation;
  • Invest money held by the Corporation;
  • Issue, sell, purchase, pay off, repurchase, redeem, convert or otherwise deal in or with securities;
  • Open and maintain accounts with banks;
  • Appoint a bank, financial institution, or another person to act as underwriter, manager, trustee, or agent in connection with any transaction within or outside Australia;
  • Enter into contracts of guarantee;
  • Acquire, hold, deal with and dispose of real and personal property;
  • Enter into any agreement or arrangement for the purpose of returning a gain, avoiding a loss, or with a view to avoiding a loss by reference to currency obligations, currency exchange rate movement or interest rate movement;
  • Enter into any agreement or arrangement for the purposes of managing or varying financial returns or financial or currency risks (including but not limited to risks arising from currency exchange rates or interest rates);
  • Enter into any agreement or arrangement of a kind not previously mentioned or acquire or incur any other rights or liabilities; or
  • Exercise any other powers that are necessary or expedient for the performance of its functions.
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