Public Governance, Performance and Accountability (Consequential and Transitional Provisions) Act 2014 (62 of 2014)

Schedule 2   Amendment of the Financial Management and Accountability Act 1997

Part 2   Transitional and application provisions

Division 1   Transitional and application provisions

34   Agreements with banks about receipt, transmission etc. of public money

(1) An agreement made under section 8 of the FMA Act (which deals with agreements with banks about the receipt, transmission etc. of public money) that is in force immediately before the commencement time is taken, after that time, to have been made under, and in accordance with, section 53 of the PGPA Act.

(2) An agreement made under section 8 of the FMA Act with the Reserve Bank of Australia in relation to a central bank account that is in force immediately before the commencement time is taken, after that time, to have been made under, and in accordance with, subsection 53(3) of the PGPA Act.