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 s5A of the Act, with the approval of the Treasurer.