Australia PGPA Finance Minister Delegations to Accountable Authorities and the Finance Secretary NCE-S1-P3: DFAT overseas overdrafts: subdelegate only within DFAT, use overseas overdrafts only where funds cannot reach a payment in time, cap each facility at $1 million and all at $10 million, accept only standard bank fees charged to a departmental appropriation, and review facilities annually

What does NCE-S1-P3 require?

The section 56 power to borrow by overseas overdraft is delegated only to DFAT's accountable authority, who may pass it on only to DFAT officials and only for facilities opened and kept outside Australia. Each facility is limited to $1 million and the facilities together to $10 million, and a facility may be drawn only when money sent from Australia would arrive too late for a particular payment. The bank may charge no more than its usual fees, debited to a departmental appropriation, and at least once a year the delegate reviews every facility, keeping only the minimum number still needed. The Act separately requires each drawing to be repaid within 90 days.