Australian Capital Territory Consolidated Acts

FINANCIAL MANAGEMENT ACT 1996 - SECT 7

If, before the end of a financial year, no Act other than this Act has been passed appropriating public money to meet the requirements of the next financial year, the Treasurer may pay the amounts necessary to meet those requirements subject to the following provisions:

        (a)     the authority of the Treasurer under this section ceases on the commencement of the first Appropriation Act for the next financial year;

        (b)     on that commencement all payments made under this section for the next financial year are taken for all purposes to have been paid out of money appropriated by that Act;

        (c)     the payments made under this section for any purpose must not exceed, in total, ¹ / 2 of the amount appropriated by Appropriation Acts for the immediately previous financial year for that purpose.