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This is a Bill, not an Act. For current law, see the Acts databases.
FINANCIAL MANAGEMENT AMENDMENT BILL 2007
2007
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL
TERRITORY
(As presented)
(Treasurer)
Financial Management
Amendment Bill 2007
A Bill for
An Act to amend the
Financial Management Act
1996
The Legislative Assembly for the Australian Capital Territory enacts as
follows:
1 Name of Act
This Act is the Financial Management Amendment Act 2007.
2 Commencement
This Act commences on the day after its notification day.
Note The naming and commencement provisions automatically commence
on the notification day (see Legislation Act, s 75 (1)).
3 Legislation amended
This Act amends the Financial Management Act 1996.
4 New sections 16A and 16B
insert
16A Appropriation for accrued employee
entitlements
(1) This section applies if—
(a) an employee entitlement exists in relation to an entity in a financial
year; and
(b) the entity has paid, or is required to pay, the entitlement in the
financial year; and
(c) the amount of the entitlement exceeds the amount appropriated for the
entity in relation to employee entitlements for the financial year.
(2) The Treasurer may, in writing, authorise an appropriation for the
entity in relation to the amount.
(3) If the Treasurer authorises an appropriation under this section, the
Treasurer must present a copy of the authorisation to the Legislative Assembly
within 3 sitting days after the day the appropriation is authorised.
(4) In this section:
entity means a department, territory authority or
territory-owned corporation.
16B Rollover of undispersed
appropriation
(1) This section applies to an amount of appropriation if, at the end of
the financial year in which the appropriation is made, the amount is not
dispersed to the entity to which it is appropriated.
(2) The Treasurer may, in writing, authorise the amount to be dispersed to
the entity in the following financial year.
(3) The Treasurer may give the authorisation in the financial year in
which the appropriation is made, or in the following financial year.
(4) The authorisation must identify—
(a) the entity to which the amount is to be dispersed; and
(b) the appropriation type; and
(c) the amount authorised to be dispersed; and
(d) the purpose for which the amount may be dispersed.
(5) If the Treasurer authorises an amount to be dispersed under this
section—
(a) the amount is taken to be an amount of appropriation for the financial
year in which the amount is authorised to be dispersed; and
(b) the amount is in addition to the appropriation to the entity for that
financial year.
(6) If the Treasurer authorises an amount to be dispersed under this
section, the Treasurer must present a copy of the authorisation to the
Legislative Assembly within 3 sitting days after the day the appropriation is
authorised.
(7) In this section:
entity—see section 16A (4).
5 Borrowings by territory authorities to be
approved
Section 42 (2)
omit
section 57 (1) (b)
substitute
section 59 (1) (b)
6 Territory authorities may give
security
Section 43
omit
section 42 (a)
substitute
section 42 (1) (a)
7 Power to approve borrowings not
delegable
Section 44
omit
section 42 (a)
substitute
section 42 (1) (a)
Endnotes
1 Presentation speech
Presentation speech made in the Legislative Assembly on 2007.
2 Notification
Notified under the Legislation Act on 2007.
3 Republications of amended laws
For the latest republication of amended laws, see
www.legislation.act.gov.au.
© Australian Capital Territory
2007
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