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This is a Bill, not an Act. For current law, see the Acts databases.


FINANCIAL ADMINISTRATION AND AUDIT AND ANOTHER ACT AMENDMENT BILL 2007

          Queensland



Financial Administration and
Audit and Another Act
Amendment Bill 2007

 


 

 

Queensland Financial Administration and Audit and Another Act Amendment Bill 2007 Contents Page Part 1 Preliminary 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 2 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Part 2 Amendment of Financial Administration and Audit Act 1977 3 Act amended in pt 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 4 Amendment of s 40AA (Timing for accountable officers to give general purpose financial statements to auditor-general) . . . . . . 4 5 Amendment of s 41 (Investment of surplus moneys) . . . . . . . . . . 4 6 Amendment of s 43B (Certain departments may enter into derivative transactions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 7 Amendment of s 46FA (Timing for statutory bodies to give annual financial statements to auditor-general) . . . . . . . . . . . . . . 5 8 Amendment of sch 2 (Continuing funds) . . . . . . . . . . . . . . . . . . . 5 Part 3 Amendment of Government Owned Corporations Act 1993 9 Act amended in pt 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 10 Amendment of sch 3 (Application of FA and A Act to company GOCs and prescribed company GOC subsidiaries). . . . . . . . . . . 6

 


 

 

2007 A Bill for An Act to amend the Financial Administration and Audit Act 1977 and the Government Owned Corporations Act 1993

 


 

s1 4 s5 Financial Administration and Audit and Another Act Amendment Bill 2007 The Parliament of Queensland enacts-- 1 Part 1 Preliminary 2 Clause 1 Short title 3 This Act may be cited as the Financial Administration and 4 Audit and Another Act Amendment Act 2007. 5 Clause 2 Commencement 6 This Act commences on a day to be fixed by proclamation. 7 Part 2 Amendment of Financial 8 Administration and Audit Act 9 1977 10 Clause 3 Act amended in pt 2 11 This part amends the Financial Administration and Audit Act 12 1977. 13 Clause 4 Amendment of s 40AA (Timing for accountable officers to 14 give general purpose financial statements to 15 auditor-general) 16 Section 40AA(3) and (4), `3 months'-- 17 omit, insert-- 18 `2 months'. 19 Clause 5 Amendment of s 41 (Investment of surplus moneys) 20 Section 41(3)(d), from `has' to `subsection'-- 21

 


 

s6 5 s8 Financial Administration and Audit and Another Act Amendment Bill 2007 omit, insert-- 1 `the Treasurer considers appropriate'. 2 Clause 6 Amendment of s 43B (Certain departments may enter into 3 derivative transactions) 4 (1) Section 43B(2)(a)-- 5 omit. 6 (2) Section 43B(2)(b) and (c)-- 7 renumber as section 43B(2)(a) and (b). 8 Clause 7 Amendment of s 46FA (Timing for statutory bodies to 9 give annual financial statements to auditor-general) 10 Section 46FA(3) and (4), `3 months'-- 11 omit, insert-- 12 `2 months'. 13 Clause 8 Amendment of sch 2 (Continuing funds) 14 (1) Schedule 2, entries for Department of Mines and Energy and 15 Department of Natural Resources-- 16 omit. 17 (2) Schedule 2, entry for Treasury Department, `Franchise Fees 18 Compensation Fund' and `Government Schemes Agency 19 Fund'-- 20 omit. 21

 


 

s9 6 s 10 Financial Administration and Audit and Another Act Amendment Bill 2007 Part 3 Amendment of Government 1 Owned Corporations Act 1993 2 Clause 9 Act amended in pt 3 3 This part amends the Government Owned Corporations Act 4 1993. 5 Clause 10 Amendment of sch 3 (Application of FA and A Act to 6 company GOCs and prescribed company GOC 7 subsidiaries) 8 (1) Schedule 3, part 4, section 46F(1) and (2)-- 9 omit, insert-- 10 `(1) A company GOC must give the financial statements prepared 11 by it under the Corporations Act to the auditor-general by a 12 date agreed between the company GOC and the 13 auditor-general. 14 `(2) The date agreed under subsection (1) must allow audit of the 15 statements, and a report for the audit, to be completed by the 16 auditor-general no later than 2 months after the end of the 17 financial year the statements relate to.'. 18 (2) Schedule 3, part 5, section 46F(1) and (2)-- 19 omit, insert-- 20 `(1) A company GOC subsidiary must give the financial 21 statements prepared by it under the Corporations Act to the 22 auditor-general by a date agreed between the subsidiary and 23 the auditor-general. 24 `(2) The date agreed under subsection (1) must allow audit of the 25 statements, and a report for the audit, to be completed by the 26 auditor-general no later than 2 months after the end of the 27 financial year the statements relate to.'. 28 State of Queensland 2007

 


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