The NSW Government has a significant investment in a portfolio of Government businesses and the NSW Treasury seeks to ensure that this investment is managed efficiently and effectively.
The Commercial Policy Framework is the suite of Treasury policies that apply to Government businesses. It includes policies related to the commercial circumstances of these Government businesses and also aims to replicate in Government businesses the disciplines and incentives that lead private sector businesses towards efficient commercial practices.
Government businesses are covered by a range of legislative requirements that NSW Treasury applies in the development of policy and guidelines, primarily the Government Sector Finance Act 2018. The State Owned Corporations are required to meet certain requirements under the State Owned Corporations Act 1989. Scope of application of the Commercial Policy Framework to Government businesses is included in each policy.
Government businesses are required to comply with a range of other Acts, including for example the annual reporting under the Government Sector Finance Act 2018.
Companies established under the Corporations Act 2001 (Cth) need to comply with the requirements set out in that legislation.