President of the Senate (Australia)
The position is provided for by Section 17 of the Constitution of Australia. The Senate elects one of its members as president at the start of each new term, or whenever the position is vacant. This is usually—though not necessarily—a member of the party or coalition that holds the most seats in the Senate. The largest party in the Senate is not always the governing party, as government is determined by the House of Representatives. The President of the Senate and the Speaker of the House of Representatives may consequently be from different parties.
Loan Council
The Loan Council consists of the Prime Minister of Australia, the Premier of each State and Chief Minister of each Territory. However, in practice each member is represented by a nominee, usually the Treasurer of that jurisdiction. The Treasurer of Australia acts as the chair and the Commonwealth Treasury provides secretarial services. Each jurisdiction nominates a Loan Council Allocation for the forthcoming year and the Loan Council normally meets once a year in person (usually in March) to consider the nominations having regard to each jurisdiction's fiscal position and the macroeconomic implications of the aggregate figure; otherwise business of the Council is conducted by correspondence. The Commonwealth has a dominant position over the Council, having two votes and also a casting vote. Under this arrangement the votes of six states/territories are required to outvote a Commonwealth proposition.