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This is a Bill, not an Act. For current law, see the Acts databases.
Serial 122
Financial
Management Amendment Bill 2020
Mrs
Lambley
A Bill for an Act to amend the Financial Management Act 1995
NORTHERN TERRITORY OF AUSTRALIA
FINANCIAL MANAGEMENT AMENDMENT ACT 2020
____________________
Act No. [ ] of 2020
____________________
Table of provisions
30A Debt ceiling
30B Auditor-General
report if debt ceiling exceeded
NORTHERN
TERRITORY OF AUSTRALIA
____________________
Act No. [ ] of 2020
____________________
An Act to amend the Financial Management Act 1995
[Assented to [ ] 2020]
[Introduced [ ] 2020]
The Legislative Assembly of the Northern Territory enacts as follows:
This Act may be cited as the Financial Management Amendment Act 2020.
This Act commences on the day after the day on which the Administrator's assent to this Act is declared.
3 Section 3 amended (Interpretation)
Section 3(1)
insert
debt ceiling, see section 30A.
After section 30
insert
The total face value of the principal owing on the debt incurred by the Territory under this Act at any time must not exceed $6 988 000 000 (the debt ceiling).
30B Auditor-General report if debt ceiling exceeded
(1) If the total face value of the principal owing on the debt incurred by the Territory exceeds the debt ceiling, the Auditor-General must prepare a report of that fact and give the report to the Minister.
(2) The Minister must table the report in the Legislative Assembly on the sitting day immediately following the day after the Minister receives the report.
This Act is repealed on the day after it commences.
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