Functions and Powers
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, with the approval of the Treasurer:
- Borrow money within or outside Australia;
- Lend money to Participating authorities;
- Accept money on deposit or loan from the Treasurer or a participating authority;
- Place on deposit with the Treasurer or an authorised deposit-taking 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;
- Appoint an authorised deposit-taking institution or other person to act as underwriter, manager, trustee, or agent in connection with any transaction within or outside Australia;
- Enter into contracts of guarantee.
- 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.