The Sydney Olympic Park Authority was established as a statutory authority in July 2001. The Authority is constituted by the Sydney Olympic Park Authority Act 2001 No 57 which established the Sydney Olympic Park Authority as a statutory authority, with responsibility to manage the public assets of Sydney Olympic Park - open space, venues, parklands and development areas. The legislation focuses on ensuring the best use and management of a large and unique area right in the geographical centre of Sydney, an area which is a world renowned destination.
The Sydney Olympic Park Authority Act, requires the Authority to make all reasonable efforts to ensure that:
In achieving the above objectives, the Act confers on the Sydney Olympic Park Authority the following functions:
The Act places a high value on the Authority's commitment to the principles of ecologically sustainable development. S15 provides that:
'in carrying out any of its functions, the Authority is to take into consideration, where relevant, the principles of ecologically sustainable development within the meaning of the Local Government Act 1993.' (Refer to the summary of the LGA Act 1993 in this section for this definition).
S20 of the Sydney Olympic Park Authority Act (2001) also provides that:
'Before carrying out any proposed development, the Authority is to consider whether the proposed development is consistent with the Environmental Guidelines.