What does 56-57 require?

A borrowing agreement entered into by a corporate Commonwealth entity, and that includes an overdraft advance and credit obtained by credit card or credit voucher, has no legal effect unless one of three authorities stands behind it: an Act that expressly authorises the entity to borrow, a written authorisation from the Finance Minister (a legislative instrument exempt from disallowance), or an authorisation in the rules. The Commonwealth itself can borrow only where an Act expressly authorises it, and the Finance Minister's borrowing agreements must provide for repayment within 90 days and meet any rule requirements.

Australia Public Governance, Performance and...

Other controls in Part 2-4: use and management of public resources, banking, borrowing, investment, indemnities and insurance, waivers and act of grace, gifts and liability for loss, Ministers' approvals and notices (sections 50 to 72) – Australia Public Governance, Performance and Accountability Act 2013 (PGPA Act)

55 Banking or dealing with relevant money received: a Minister passes relevant money to an official of a non-corporate entity as soon as practicable, and an official who receives bankable money deposits it in a bank within the prescribed period or as soon as practicable, or otherwise deals with it as the rules require
59 Investment by corporate Commonwealth entities: invest relevant money only when not immediately required for the entity's purposes, and only in bank deposits, Commonwealth, State or Territory securities or guaranteed securities, forms authorised in writing by the Finance Minister or prescribed by the rules, or for a government business enterprise forms consistent with sound commercial practice
60-62 Indemnities, guarantees, warranties and insurance: the Commonwealth grants them through the Finance Minister in accordance with the rules, and corporate Commonwealth entities grant indemnities, guarantees or warranties and obtain insurance only in accordance with the requirements the rules prescribe
66-67 Gifts of relevant property: a Minister or an official of a non-corporate entity must not gift relevant property unless it was acquired or produced to be a gift or the gift is expressly authorised by law, authorised in writing by the Finance Minister or made in accordance with the rules, and an unauthorised gift makes the giver liable to pay the property's value to the Commonwealth
68 Liability for loss in custody: a Minister or official of a non-corporate entity who holds relevant money as a petty cash or other advance or before banking it, or who has signed for strict care of relevant property, must take reasonable steps to prevent loss, and is liable for the amount or value of any loss where reasonable steps were not taken
69-70 Liability for loss through misconduct: a Minister or official of a non-corporate entity who causes or contributes to a loss of relevant money or property by misconduct or by deliberate or serious disregard of reasonable standards of care is liable for the just and equitable share of the loss, recoverable as a debt, without double recovery for the same loss and regardless of leaving office
71 Ministerial approval of proposed expenditure: a Minister, or Presiding Officer for a Parliamentary Department, must not approve a proposed expenditure of relevant money unless satisfied after reasonable inquiries that it would be a proper use of relevant money, and must record the terms of any approval in writing as soon as practicable and comply with the rules on approvals
72 Minister to inform Parliament of company and body events: table a notice as soon as practicable when the Commonwealth or a corporate entity forms or helps form a company or relevant body, becomes or ceases to be a member, has its membership rights varied, acquires or disposes of shares, or has share rights varied, in the form and with the particulars the rules prescribe

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