Public Financial Corporations (PFCs) provide financial services including insurance, lending and investment management. There are two PFCs for which the NSW Treasurer is shareholder.

Entity

Shareholding Minister

Enabling legislation

icare

Treasurer

 

State Insurance and Care Governance Act 2015

TCorp

Treasurer

 

Treasury Corporation Act 1983

Treasury plays a similar role in monitoring and managing performance of the PFCs as we do for the SOCs. This includes:

  • negotiating the annual Statement of Business Intent and business plans for the PFCs, and monitoring performance against targets throughout the year
  • assessing major investment proposals
  • advising the Ministers of critical current and emerging issues that may impact on the businesses and
  • administering the process for appointments to boards.

Responsible Ministers are required to table the Annual Report for each of the PFCs in the NSW Parliament. These documents can be located on the Parliament of NSW website.