In certain limited circumstances, amendments to previously signed joint financing arrangements contracts may also require the Treasurer's approval under the PAFA Act.
Consistent with the terms of each Treasurer's Approval to enter a joint financing arrangement, the NSW PPP Guidelines (refer to chapter 7) and TC15-16: Managing PPP Contracts, agencies should consult with NSW Treasury prior to commencing contractual or commercial renegotiations. At this time, NSW Treasury will advise whether the Treasurer's PAFA Act approval or other Cabinet/Ministerial approval is required to amend an existing PPP contract, including joint financing arrangements, taking into account expert legal advice if required. NSW Treasury should be involved in the relevant contractual or commercial negotiations.
In certain limited circumstances, an existing Guarantee may need to be refreshed or re-issued. Consistent with above, where a new Guarantee is to be issued for an existing joint financing arrangement, the NSW Treasury template PPP Guarantee Deed Poll is to be used. "Guaranteed Documents" are to be limited to those core project documents which form the basis of the joint financing arrangement. Agencies should consult with NSW Treasury prior to discussing changes to the beneficiaries or the schedule of documents covered by the Guarantee.