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Legislative Assembly for the ACT: 1996 Week 11 Hansard (26 September) . . Page.. 3617 ..

Ms Follett - asked the Minister for Urban Services - In relation to the Gungahlin Development Authority:

1. What (a) revenue has been received to date; and (b) borrowings have been undertaken.

2. What is the common seal of the Gungahlin Development Authority.

3. What are the banking and audit arrangements for the Authority.

Mr De Domenico - the answer to the Member's question is as follows:

1(a) No revenue has been received to date.

1(b) No borrowings have been made to date. As set out in Budget Paper No.4, provision has been made for borrowings of $800,000 in the 1996/97 financial year.

2. Sub-Section 5(2) of the Gungahlin Development Authority Act 1996 provides that the Authority shall have a common seal. This is consistent with requirements on other bodies corporate such as companies and statutory authorities.

A common seal has been acquired and consistent with the requirements of subsection 5(3) of the Act is being held in the custody of the Authority.

3. A banking account has been set up with the Reserve Bank. Cash flows will be provided to the Office of Financial Management. Audit arrangements for the Authority are with the Auditor General.

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