Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Subject to subsection (3), the SBS may enter into or deal with contracts, and make other arrangements, in relation to financial futures or foreign currency (including foreign currency futures) for the purpose of reducing or eliminating risks of adverse financial consequences to the SBS in relation to:
(a) any contract (including a contract that may be entered into under this section), or any proposed contract, involving the payment or receipt of money by the SBS; or
(b) a borrowing or a proposed borrowing of money by the SBS;
being risks that may arise from variations in the rate of currency exchange or rate of interest applicable to the contract or proposed contract, or to the borrowing or proposed borrowing of money, as the case may be, referred to in paragraph (a) or (b).
(2) The Minister may, by determination in writing:
(a) set guidelines for the purpose of the exercise by the SBS of its power under subsection (1); and
(b) revoke or vary guidelines set for that purpose or set new guidelines for that purpose;
and must give to the SBS a copy of each determination made under this subsection.
(3) The SBS may only enter into a contract, dealing or other arrangement under subsection (1) in accordance with the guidelines (if any) having effect from time to time under subsection (2).
(4) A contract, dealing or other arrangement under subsection (1) does not require the approval of the Minister under subsection 67(1).
(5) In this section:
"proposed borrowing" means a proposed borrowing of money that is in accordance with an approval under section 60.