1.3.2  Legislative authority

Generally, statutory authorities and statutory corporations will be vested by their constituent legislation with authority to enter into the project agreement.1

However, depending on the project, a regulatory framework or other amendments to existing Law may be proposed by a jurisdiction in order to ensure enforceability of the project agreement.  In those circumstances, appropriate legislation may be passed.

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1  In NSW, the Public Authorities (Financial Arrangements) Act 1987 (NSW) also empowers certain statutory authorities or statutory corporations to enter into joint financing arrangements within the meaning of s 5A of the Act, with the approval of the Treasurer.