3.5.  Statutory Approvals under SOC Act

SOCs may need to obtain the written approval of the Shareholding Ministers under section 20X of the SOC Act. This section of the SOC Act deals with the acquisition and disposal of fixed assets and investments. The NSW approvals should occur prior to obtaining Cabinet and PAFA Act approvals to sign the contract. SOCs should confirm with NSW Treasury to determine whether this approval is required for their particular PPP.