AUDIT (TRANSITIONAL AND MISCELLANEOUS) AMENDMENT BILL 1996

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

AUDIT (TRANSITIONAL AND MISCELLANEOUS) AMENDMENT BILL 1996

1996

The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES

Presented and read a first time

Audit (Transitional and Miscellaneous) Amendment Bill 1996

No. , 1996

(Finance)

A Bill for an Act to deal with transitional and consequential matters arising from the repeal of the Audit Act 1901 and the enactment of the Auditor-General Act 1996, the Financial Management and Accountability Act 1996 and the Commonwealth Authorities and Companies Act 1996, and for related purposes

9621720—1,025/11.12.1996—(217/96) Cat. No. 96 5708 8 ISBN 0644 483830

Contents

Audit Act 1901 6atma0h1.html

Aboriginal and Torres Strait Islander Commission Act 1989 6atma0h1.html

Aboriginal Councils and Associations Act 1976 6atma0h1.html

Aboriginal Land Grant (Jervis Bay Territory) Act 1986 6atma0h1.html

Aboriginal Land (Lake Condah and Framlingham Forest) Act 1987 6atma0h1.html

Aboriginal Land Rights (Northern Territory) Act 1976 6atma0h1.html

Acts Interpretation Act 1901 6atma0h1.html

Acts Interpretation Amendment Act 1976 6atma0h1.html

Administrative Appeals Tribunal Act 1975 6atma0h1.html

Administrative Decisions (Judicial Review) Act 1977 6atma0h1.html

Agricultural and Veterinary Chemicals (Administration) Act 1992 6atma0h1.html

Aircraft Noise Levy Collection Act 1995 6atma0h1.html

Air Services Act 1995 6atma0h1.html

Albury-Wodonga Development Act 1973 6atma0h1.html

Anglo-Australian Telescope Agreement Act 1970 6atma0h1.html

Australia Council Act 1975 6atma0h1.html

Australia-Japan Foundation Act 1976 6atma0h1.html

Australia New Zealand Food Authority Act 1991 6atma0h1.html

Australian Broadcasting Corporation Act 1983 6atma0h1.html

Australian Centre for International Agricultural Research Act 1982 6atma0h1.html

Australian Film Commission Act 1975 6atma0h1.html

Australian Film, Television and Radio School Act 1973 6atma0h1.html

Australian Heritage Commission Act 1975 6atma0h1.html

Australian Horticultural Corporation Act 1987 6atma0h1.html

Australian Industry Development Corporation Act 1970 6atma0h1.html

Australian Institute of Aboriginal and Torres Strait Islander Studies Act 1989 6atma0h1.html

Australian Institute of Health and Welfare Act 1987 6atma0h1.html

Australian Institute of Marine Science Act 1972 6atma0h1.html

Australian Land Transport Development Act 1988 6atma0h1.html

Australian Maritime Safety Authority Act 1990 6atma0h1.html

Australian National Maritime Museum Act 1990 6atma0h1.html

Australian National Railways Commission Act 1983 6atma0h1.html

Australian National Training Authority Act 1992 6atma0h1.html

Australian National University Act 1991 6atma0h1.html

Australian Nuclear Science and Technology Organisation Act 1987 6atma0h1.html

Australian Postal Corporation Act 1989 6atma0h1.html

Australian Securities Commission Act 1989 6atma0h1.html

Australian Sports Commission Act 1989 6atma0h1.html

Australian Sports Drug Agency Act 1990 6atma0h1.html

Australian Tourist Commission Act 1987 6atma0h1.html

Australian Trade Commission Act 1985 6atma0h1.html

Australian War Memorial Act 1980 6atma0h1.html

Australian Wine and Brandy Corporation Act 1980 6atma0h1.html

Australian Wool Research and Promotion Organisation Act 1993 6atma0h1.html

Bankruptcy Act 1966 6atma0h1.html

Broadcasting Services Act 1992 6atma0h1.html

Child Support (Registration and Collection) Act 1988 6atma0h1.html

Civil Aviation Act 1988 6atma0h1.html

Coal Industry Act 1946 6atma0h1.html

Coal Mining Industry (Long Service Leave Funding) Act 1992 6atma0h1.html

Commonwealth Inscribed Stock Act 1911 6atma0h1.html

Commonwealth Places (Application of Laws) Act 1970 6atma0h1.html

Crimes Act 1914 6atma0h1.html

Criminology Research Act 1971 6atma0h1.html

Customs Act 1901 6atma0h1.html

Dairy Produce Act 1986 6atma0h1.html

Defence Housing Authority Act 1987 6atma0h1.html

Defence Service Homes Act 1918 6atma0h1.html

Dried Sultana Production Underwriting Act 1982 6atma0h1.html

Dried Vine Fruits Equalization Act 1978 6atma0h1.html

Dried Vine Fruits Stabilization Legislation Repeal Act 1981 6atma0h1.html

Employment Services Act 1994 6atma0h1.html

Endangered Species Protection Act 1992 6atma0h1.html

Excise Act 1901 6atma0h1.html

Export Finance and Insurance Corporation Act 1991 6atma0h1.html

Family Law Act 1975 6atma0h1.html

Federal Airports Corporation Act 1986 6atma0h1.html

Federal Court of Australia Act 1976 6atma0h1.html

Financial Agreement Act 1994 6atma0h1.html

Fisheries Administration Act 1991 6atma0h1.html

Forestry and Timber Bureau Act 1930 6atma0h1.html

Great Barrier Reef Marine Park Act 1975 6atma0h1.html

Health Insurance Commission Act 1973 6atma0h1.html

Hearing Services Act 1991 6atma0h1.html

Higher Education Funding Act 1988 6atma0h1.html

Horticultural Research and Development Corporation Act 1987 6atma0h1.html

Housing Loans Insurance Act 1965 6atma0h1.html

Housing Loans Insurance Corporation (Transfer of Assets and Abolition) Act 1996 6atma0h1.html

Income Tax Assessment Act 1936 6atma0h1.html

Interstate Road Transport Act 1985 6atma0h1.html

Lands Acquisition Act 1989 6atma0h1.html

Loan Consolidation and Investment Reserve Act 1955 6atma0h1.html

Loan (Income Equalization Deposits) Act 1976 6atma0h1.html

Loan (Temporary Revenue Deficits) Act 1953 6atma0h1.html

Maritime College Act 1978 6atma0h1.html

Meat and Live-stock Industry Act 1995 6atma0h1.html

Military Superannuation and Benefits Act 1991 6atma0h1.html

National Cattle Disease Eradication Trust Account Act 1991 6atma0h1.html

National Environment Protection Council Act 1994 6atma0h1.html

National Gallery Act 1975 6atma0h1.html

National Health Act 1953 6atma0h1.html

National Health and Medical Research Council Act 1992 6atma0h1.html

National Library Act 1960 6atma0h1.html

National Measurement Act 1960 6atma0h1.html

National Museum of Australia Act 1980 6atma0h1.html

National Occupational Health and Safety Commission Act 1985 6atma0h1.html

National Parks and Wildlife Conservation Act 1975 6atma0h1.html

National Residue Survey Administration Act 1992 6atma0h1.html

National Road Transport Commission Act 1991 6atma0h1.html

Native Title Act 1993 6atma0h1.html

Natural Heritage Trust of Australia Act 1996 6atma0h1.html

Natural Resources Management (Financial Assistance) Act 1992 6atma0h1.html

Norfolk Island Act 1979 6atma0h1.html

Occupational Health and Safety (Commonwealth Employment) Act 1991 6atma0h1.html

Pig Industry Act 1986 6atma0h1.html

Prawn Export Promotion Act 1995 6atma0h1.html

Primary Industries and Energy Research and Development Act 1989 6atma0h1.html

Primary Industries Levies and Charges Collection Act 1991 6atma0h1.html

Proceeds of Crime Act 1987 6atma0h1.html

Public Accounts Committee Act 1951 6atma0h1.html

Public Service Act 1922 6atma0h1.html

Qantas Sale Act 1992 6atma0h1.html

Remuneration and Allowances Act 1990 6atma0h1.html

Reserve Bank Act 1959 6atma0h1.html

Royal Australian Air Force Veterans’ Residences Act 1953 6atma0h1.html

Safety, Rehabilitation and Compensation Act 1988 6atma0h1.html

Science and Industry Research Act 1949 6atma0h1.html

Sea Installations Act 1987 6atma0h1.html

Services Trust Funds Act 1947 6atma0h1.html

Snowy Mountains Hydro-electric Power Act 1949 6atma0h1.html

Special Broadcasting Service Act 1991 6atma0h1.html

States Grants (Primary and Secondary Education Assistance) Act 1992 6atma0h1.html

States Grants (Schools Assistance) Act 1984 6atma0h1.html

States Grants (Schools Assistance) Act 1988 6atma0h1.html

States Grants (TAFE Assistance) Act 1989 6atma0h1.html

Stevedoring Industry Finance Committee Act 1977 6atma0h1.html

Student and Youth Assistance Act 1973 6atma0h1.html

Superannuation Act 1976 6atma0h1.html

Superannuation Act 1990 6atma0h1.html

Superannuation Industry (Supervision) Act 1993 6atma0h1.html

Surplus Revenue Act 1908 6atma0h1.html

Taxation (Interest on Overpayments and Early Payments) Act 1983 6atma0h1.html

Telstra Corporation Act 1991 6atma0h1.html

Therapeutic Goods Act 1989 6atma0h1.html

Tobacco Marketing Act 1965 6atma0h1.html

Trade Practices Act 1974 6atma0h1.html

University of Canberra Act 1989 6atma0h1.html

Vocational Education and Training Funding Act 1992 6atma0h1.html

Wheat Marketing Act 1989 6atma0h1.html

Wool International Act 1993 6atma0h1.html

Air Services Act 1995 6atma0h1.html

Australian Law Reform Commission Act 1996 6atma0h1.html

Australian Maritime Safety Authority Act 1990 6atma0h1.html

Civil Aviation Legislation Amendment Act 1995 6atma0h1.html

Commonwealth Funds Management Limited Act 1990 6atma0h1.html

Ozone Protection Amendment Act 1995 6atma0h1.html

Small Superannuation Accounts Act 1995 6atma0h1.html

Transport Legislation Amendment Act 1995 6atma0h1.html

A Bill for an Act to deal with transitional and consequential matters arising from the repeal of the Audit Act 1901 and the enactment of the Auditor-General Act 1996, the Financial Management and Accountability Act 1996 and the Commonwealth Authorities and Companies Act 1996, and for related purposes

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Audit (Transitional and Miscellaneous) Amendment Act 1996.

2 Commencement

(1) Subject to subsections (2) and (3), this Act commences on the day on which it receives the Royal Assent.

(2) Schedules 1, 2 and 4 commence on the same day as the Financial Management and Accountability Act 1996.

(3) Schedule 3 commences as follows:

(a) the amendments of the Air Services Act 1995 are taken to have commenced on the day on which that Act received the Royal Assent;

(b) the amendment of the Australian Law Reform Commission Act 1996 commences immediately after the commencement of Schedule 1 of the Australian Law Reform Commission (Repeal, Transitional and Miscellaneous) Act 1996;

(c) the amendments of the Australian Maritime Safety Authority Act 1990 commence on the day on which this Act receives the Royal Assent;

(d) the amendments of the Civil Aviation Legislation Amendment Act 1995 are taken to have commenced on the day on which that Act received the Royal Assent;

(e) the amendment of the Commonwealth Funds Management Limited Act 1990 commences, or is taken to have commenced, on the sale day as defined in subsection 3(1) of the CFM Sale Act 1996;

(f) the amendments of the Natural Heritage Trust of Australia Act 1996 commence on the later of the commencement of that Act and the commencement of the Financial Management and Accountability Act 1996;

(g) the amendments of the Ozone Protection Amendment Act 1995 are taken to have commenced on the day on which that Act received the Royal Assent;

(h) the amendments of the Small Superannuation Accounts Act 1995 commence on the same day as the Financial Management and Accountability Act 1996;

(i) the amendments of the Transport Legislation Amendment Act 1995 are taken to have commenced on the day on which that Act received the Royal Assent.

3 Schedule(s)

Subject to section 2, each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

4 Some amendments in Schedule 2 may not take effect or may take effect in a modified way

(1) If, on or before the commencement of Schedule 2, Part 6 of the Housing Loans Insurance Corporation (Transfer of Assets and Abolition) Act 1996 commences or has commenced, the following amendments set out in Schedule 2 to this Act do not take effect:

(a) the amendments of the Housing Loans Insurance Act 1965;

(b) the amendments of the Housing Loans Insurance Corporation (Transfer of Assets and Abolition) Act 1996.

(2) If, on or before the commencement of Schedule 2, Part 12 of the Wool International Act 1993 commences or has commenced, the amendments of that Act set out in Schedule 2 to this Act do not take effect.

(3) If:

(a) an Act is amended by Schedule 2; and

(b) the short title of the Act is changed on or before the commencement of that Schedule;

the amendment made by Schedule 2 has effect as an amendment of the Act under its new short title.

Schedule 1—Repeal of the Audit Act 1901

Audit Act 1901

1 The whole of the Act

Repeal the Act.

Schedule 2—Consequential amendments of Acts

Aboriginal and Torres Strait Islander Commission Act 1989

1 Subsection 4(1) (definition of approved bank)

Repeal the definition.

2 Add at the end of subsection 6(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the Commission. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

3 Section 37

Repeal the section.

4 Paragraph 40(7)(e)

Omit “37”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

5 At the end of section 42

Add:

(2) This section does not apply to a liability that arises under the Commonwealth Authorities and Companies Act 1996.

6 Paragraph 44(5)(a)

Omit “37”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

7 Subsection 44(13)

Omit “37”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

8 After subsection 61(6B)

Insert:

(6C) Section 14 of the Commonwealth Authorities and Companies Act 1996 does not apply to the Commission.

9 After subsection 67(3)

Insert:

(3A) Subsection (3) does not prevent the investment of money under section 18 of the Commonwealth Authorities and Companies Act 1996.

10 Subsection 67(6)

Repeal the subsection.

11 After subsection 68(3)

Insert:

(3A) Subsection (3) does not prevent the investment of money under section 18 of the Commonwealth Authorities and Companies Act 1996.

12 Subsection 68(6)

Repeal the subsection.

13 Subsection 69(1)

Omit “an approved bank”, substitute “a bank”.

14 At the end of section 69

Add:

(3) In this section:

bank means a person who carries on the business of banking, either in Australia or outside Australia.

15 Subsection 72(1)

Repeal the subsection, substitute:

(1) In this section, annual report means the annual report of the Commission prepared under section 9 of the Commonwealth Authorities and Companies Act 1996.

16 Subsections 72(2), (3) and (4)

Omit “report prepared under subsection (1)”, substitute “annual report”.

17 Subsection 72(5)

After “financial statements”, insert “included in the annual report”.

18 Subsection 72(6)

Omit “report prepared under subsection (1)”, substitute “annual report”.

19 Subsection 72(7)

Omit “a report prepared under subsection (1)”, substitute “an annual report”.

20 Subsections 72(8) and (9)

Repeal the subsections.

21 Section 73

Repeal the section.

22 Subsection 74(1)

Omit “, not inconsistent with this Act or the regulations,”.

23 After subsection 74(1)

Insert:

(1A) Directions under subsection (1) must not be inconsistent with:

(a) this Act or the regulations under this Act; or

(b) the Commonwealth Authorities and Companies Act 1996, or regulations or Finance Minister’s Orders made under that Act.

24 Subsection 74(3)

Repeal the subsection.

25 Subsection 99(1)

Omit “4 months”, substitute “2 months”.

26 At the end of subsection 142(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the TSRA. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

27 Section 143N

Repeal the section.

28 Paragraph 143S(6)(e)

Omit “143N”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

29 At the end of section 143U

Add:

(3) This section does not apply to a liability that arises under the Commonwealth Authorities and Companies Act 1996.

30 Paragraph 144E(5)(a)

Omit “143N”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

31 Subsection 144E(14)

Omit “143N”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

32 After subsection 144V(3)

Insert:

(3A) Subsection (3) does not prevent the investment of money under section 18 of the Commonwealth Authorities and Companies Act 1996.

33 Subsection 144V(6)

Repeal the subsection.

34 Subsection 144W(4)

Repeal the subsection, substitute:

(4) Subsection (3) does not prevent the investment of money under section 18 of the Commonwealth Authorities and Companies Act 1996.

35 Subsection 144X(1)

Omit “an approved bank”, substitute “a bank”.

36 At the end of section 144X

Add:

(3) In this section:

bank means a person who carries on the business of banking, either in Australia or outside Australia.

37 At the end of section 144ZA

Add:

(5) Section 14 of the Commonwealth Authorities and Companies Act 1996 does not apply to the TSRA.

38 Subsection 144ZB(1)

Repeal the subsection, substitute:

(1) In this section, annual report means the annual report of the TSRA prepared under section 9 of the Commonwealth Authorities and Companies Act 1996.

Note: The heading to section 144ZB is altered by omitting “and financial statements”.

39 Subsection 144ZB(2)

Omit “each report”, substitute “each annual report”.

40 Subsection 144ZB(3)

Omit “report relating to the year”, substitute “annual report for the year”.

41 Subsection 144ZB(4)

Omit “report under this section”, substitute “annual report”.

42 Subsection 144ZB(5)

Omit “a report under this section”, substitute “an annual report”.

43 Subsections 144ZB(6) and (7)

Repeal the subsections.

44 Section 144ZC

Repeal the section.

45 Subsection 144ZD(1)

Omit “, not inconsistent with this Act or the regulations,”.

46 After subsection 144ZD(1)

Insert:

Directions must not be inconsistent with this Act etc.

(1A) Directions under subsection (1) must not be inconsistent with:

(a) this Act or the regulations under this Act; or

(b) the Commonwealth Authorities and Companies Act 1996, or regulations or Finance Minister’s Orders made under that Act.

47 Subsection 144ZD(3)

Repeal the subsection.

48 At the end of subsection 145(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the Corporation. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

49 Section 151

After “this Act”, insert “or the Commonwealth Authorities and Companies Act 1996”.

50 Section 163

Repeal the section.

51 Paragraph 165(2)(c)

Omit “163”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

52 Paragraph 167(3)(a)

Omit “163”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

53 Subsection 167(11)

Omit “163”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

54 Section 180

Repeal the section.

55 Section 186

Repeal the section.

56 Section 189

Repeal the section.

57 At the end of subsection 191A(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the Indigenous Land Corporation. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

58 Section 191L

After “this Act”, insert “or the Commonwealth Authorities and Companies Act 1996”.

59 Section 191M

Repeal the section.

60 Subsections 192F(1) and (2)

Repeal the subsections.

61 Paragraph 192H(2)(e)

After “192F”, insert “of this Act or section 21 of the Commonwealth Authorities and Companies Act 1996”.

62 Paragraph 192J(3)(a)

Omit “192F”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

Note: The heading to subsection 192J(3) is altered by omitting “192F” and substituting “21 of the Commonwealth Authorities and Companies Act 1996”.

63 Subsection 192W(1)

Omit “fund”, substitute “reserve”.

64 Subsections 192W(2) to (5)

Repeal the subsections, substitute:

(2) The Land Fund is a component of the Reserved Money Fund.

(3) So far as practicable, money in the Land Fund that is not required for the purpose of making payments out of the Land Fund must be invested under section 39 of the Financial Management and Accountability Act 1996.

(4) If income is received by the Commonwealth from the investment of money from the Land Fund, an amount equal to the income must be transferred to the Land Fund from the Consolidated Revenue Fund.

65 Section 193F

Repeal the section.

66 Paragraph 193G(1)(b)

Repeal the paragraph, substitute:

(b) any person to whom the Finance Minister has delegated powers conferred on the Finance Minister by section 39 of the Financial Management and Accountability Act 1996, in so far as those powers relate to the Land Fund; and.

67 Subsection 193G(1) (note)

Repeal the note.

68 Section 193K

Repeal the section, substitute:

193K Modifications of Commonwealth Authorities and Companies Act

(1) Subsection 18(3) of the Commonwealth Authorities and Companies Act 1996 does not apply to the Indigenous Land Corporation.

(2) The annual report of the Indigenous Land Corporation under section 9 of the Commonwealth Authorities and Companies Act 1996 must include such additional information (if any) as is specified in the regulations under this Act.

(3) Division 2 of Part 3 (except section 10) of the Commonwealth Authorities and Companies Act 1996 applies as if the first category A year were a financial year.

69 Section 193V

Repeal the section.

70 Subsections 200(3), (4) and (5)

Repeal the subsections.

Aboriginal Councils and Associations Act 1976

71 At the end of subsection 19(3)

Add:

Note: Subject to section 19A, the Commonwealth Authorities and Companies Act 1996 applies to an Aboriginal Council. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

72 After section 19

Insert:

19A **Application of the Commonwealth Authorities and Companies Act 1996 if Administrator appointed**

If an Administrator of an Aboriginal Council is appointed under Part V then, while the appointment remains in force:

(a) subject to paragraph (b), the Commonwealth Authorities and Companies Act 1996 applies in relation to the Aboriginal Council as if the Administrator were the sole director of the Aboriginal Council for the purposes of that Act; and

(b) section 21 of that Act does not apply to the Administrator.

73 Subsections 22(4), (8), (8A) and (9)

After “this Act” (wherever occurring), insert “or the Commonwealth Authorities and Companies Act 1996”.

74 Subsection 23(1)

After “regulations”, insert “and to the Commonwealth Authorities and Companies Act 1996”.

75 Section 29

After “this Act”, insert “and the Commonwealth Authorities and Companies Act 1996”.

76 Paragraph 29(c)

Repeal the paragraph.

77 Paragraph 35(2)(a)

Omit “or the regulations”, substitute “, the regulations or the Commonwealth Authorities and Companies Act 1996”.

78 Subsections 38(1), (2), (3) and (4)

Repeal the subsections, substitute:

(1) The members of an Aboriginal Council must give the Registrar a copy of the annual report on the Council for a financial year under section 9 of the Commonwealth Authorities and Companies Act 1996. The copy must be given to the Registrar as soon as practicable after the report is given to the Minister, and must not be given to the Registrar later than 31 December in the next financial year.

Note: The heading to section 38 is replaced by the heading “Extra reporting and accounting requirements”.

79 Paragraph 38(5)(a)

Omit “accounts and records”, substitute “accounting records”.

80 Paragraph 38(5)(b)

Omit “Council’s report and examiner’s report”, substitute “annual report on the Council”.

81 Subsection 38(6)

Repeal the subsection.

82 Paragraph 40(1)(a)

Omit “or the Rules”, substitute “, the Rules or the Commonwealth Authorities and Companies Act 1996”.

83 After section 75

Insert:

75A Disclosure of interest by Administrator of Aboriginal Council

If the corporation is an Aboriginal Council, the Administrator must give written notice to the Minister of any material personal interest that the Administrator has in a matter being considered or about to be considered in relation to a matter.

Aboriginal Land Grant (Jervis Bay Territory) Act 1986

84 At the end of subsection 4(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the Council. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

85 After section 4

Insert:

4A Who are directors for the purposes of the Commonwealth Authorities and Companies Act 1996?

The members of the executive committee (not the registered members of the Council) are directors of the Council for the purposes of the application of the Commonwealth Authorities and Companies Act 1996 to the Council.

86 Paragraph 28(2)(a)

Omit “or by the regulations”, substitute “, by the regulations or by the Commonwealth Authorities and Companies Act 1996”.

87 Section 51

Repeal the section.

88 Section 52

Repeal the section, substitute:

52 Annual report to be laid before meeting of Council

The executive committee must table a copy of the annual report on the Council at the next general meeting of the Council held after the deadline for the financial year to which the report relates. The report is prepared under section 9 of the Commonwealth Authorities and Companies Act 1996 and the deadline is as specified in that section.

Aboriginal Land (Lake Condah and Framlingham Forest) Act 1987

89 Part VI (heading)

Repeal the heading, substitute:

Part VI—Funding

90 Subsection 38(1)

Omit “trust fund”, substitute “reserve”.

Note: The heading to section 38 is replaced by the heading “Payments into and out of Reserves”.

91 Subsection 38(1)

Omit “Trust Fund”, substitute “Reserve”.

92 Subsection 38(2)

Omit “Trust Fund”, substitute “Reserve”.

93 Subsection 38(3)

Omit “trust fund”, substitute “reserve”.

94 Subsection 38(3)

Omit “Trust Fund”, substitute “Reserve”.

95 Subsection 38(4)

Omit “Trust Fund”, substitute “Reserve”.

96 Subsection 38(5)

Repeal the subsection.

97 Subsection 38(6)

Omit “Trust Fund”, substitute “Reserve”.

98 Subsection 38(7)

Omit “Land Trust Fund”, substitute “Land Reserve”.

99 Paragraph 38(7)(b)

Omit “paid into the Aboriginal Advancement Trust Fund”, substitute “credited to the Consolidated Revenue Fund”.

100 After subsection 38(7)

Insert:

(7A) Whenever an amount is credited to the Consolidated Revenue Fund under paragraph (7)(b), an equal amount must be transferred to the Aboriginal Advancement Reserve from the Consolidated Revenue Fund.

101 Subsection 38(8)

Omit “Forest Trust Fund”, substitute “Forest Reserve”.

102 Paragraph 38(8)(b)

Omit “paid into the Aboriginal Advancement Trust Fund”, substitute “credited to the Consolidated Revenue Fund”.

103 After subsection 38(8)

Insert:

(8A) Whenever an amount is credited to the Consolidated Revenue Fund under paragraph (8)(b), an equal amount must be transferred to the Aboriginal Advancement Reserve from the Consolidated Revenue Fund.

104 Subsection 38(9)

Omit “Trust Fund”, substitute “Reserve”.

105 Subsection 38(10)

Omit “Trust Fund” (first, second and third occurring), substitute “Reserve”.

106 Paragraph 38(10)(b)

Omit “paid into the Aboriginal Advancement Trust Fund”, substitute “credited to the Consolidated Revenue Fund”.

107 Subsections 38(11) and (12)

Repeal the subsections, substitute:

(11) A reserve established by this section is a component of the Reserved Money Fund.

(12) If interest is received by the Commonwealth from the investment of money from a reserve established by this section, an amount equal to the interest must be transferred to that reserve from the Consolidated Revenue Fund.

Aboriginal Land Rights (Northern Territory) Act 1976

108 Subsection 3(1) (definition of Trust Account)

Repeal the definition.

109 Subsection 3(1)

Insert:

Reserve means the Aboriginals Benefit Reserve established by section 62.

110 At the end of subsection 22(1)

Add:

Note: Subject to section 22A, the Commonwealth Authorities and Companies Act 1996 applies to a Land Council. That Act deals with matters relating to reporting and accountability, banking and investment, and conduct of officers.

111 After section 22

Insert:

22A **Who are directors for the purposes of the Commonwealth Authorities and Companies Act 1996?**

(1) Subject to subsection (2), the members of a Land Council are directors of the Council for the purposes of the application of Division 4 of Part 3 of the Commonwealth Authorities and Companies Act 1996 to the Land Council.

(2) The Chairman of a Land Council (not the members of the Land Council) is the only director of the Council for the purposes of the application to the Land Council of the other provisions of the Commonwealth Authorities and Companies Act 1996.

112 Section 32

Repeal the section.

113 After subsection 34(3)

Insert:

(3A) A Land Council is also required to prepare budget estimates under section 14 of the Commonwealth Authorities and Companies Act 1996.

Note: The heading to section 34 is replaced by the heading “Administrative expenditure to be in accordance with approved estimates”.

114 Subsection 35(10)

Omit “accordance with section 62B of the Audit Act 1901”, substitute “investments of the kind authorised by section 39 of the Financial Management and Accountability Act 1996”.

115 Sections 37, 37AA, 37A and 38

Repeal the sections, substitute:

37 Additional reporting requirements

The annual report on a Land Council under section 9 of the Commonwealth Authorities and Companies Act 1996 must also include particulars of any determinations:

(a) made by the Land Council under subsection 35(1), (2), (3) or (3A) during the financial year to which the report relates; or

(b) made by the Minister under subsection 35(6) during that year.

116 Part VI (heading)

Repeal the heading, substitute:

Part VI—Aboriginals Benefit Reserve

117 Subsection 62(1)

Omit “Fund”, substitute “reserve”.

Note: The heading to section 62 is altered by omitting “Trust Account” and substituting “Reserve”.

118 Subsection 62(1)

Omit “Trust Account”, substitute “Reserve”.

119 Subsections 62(2) and (3)

Repeal the subsections, substitute:

(2) The Reserve is a component of the Reserved Money Fund.

(3) If interest is received by the Commonwealth from the investment of money from the Reserve, an amount equal to the interest must be transferred to the Reserve from the Consolidated Revenue Fund.

120 Subsections 63(2), (3), (3A) and (4)

Omit “Trust Account”, substitute “Reserve”.

Note: The heading to section 63 is altered by omitting “Trust Account” and substituting “Reserve”.

121 Subsection 63(5A)

Omit “paid into the Trust Account”, substitute “transferred to the Reserve from the Consolidated Revenue Fund amounts equal to”.

122 Subsection 63(5B)

Omit “paid into the Trust Account”, substitute “transferred to the Reserve from the Consolidated Revenue Fund amounts equal to”.

123 Subsection 63(6)

Repeal the subsection.

124 Section 64

Omit “Trust Account” (wherever occurring), substitute “Reserve”.

Note: The heading to section 64 is altered by omitting “Trust Account” and substituting “Reserve”.

125 Section 64A

Omit “Trust Account” (wherever occurring), substitute “Reserve”.

Note: The heading to section 64A is altered by omitting “Trust Account” and substituting “Reserve”.

126 Subsections 64B(1), (2), (3) and (4)

Repeal the subsections, substitute:

(1) As soon as practicable after 30 June in each year, the Commission must prepare and give to the Minister a report relating to the operation of the Reserve for the year.

(2) The report must include:

(a) the financial statements required by section 49 of the Financial Management and Accountability Act 1996; and

(b) an audit report on those statements under section 57 of the Financial Management and Accountability Act 1996.

(3) The Minister must cause a copy of the report to be tabled in each House of the Parliament as soon as practicable.

127 Section 65

Omit “Trust Account” (wherever occurring), substitute “Reserve”.

Note: The heading to section 65 is altered by omitting “Trust Account” and substituting “Reserve”.

Acts Interpretation Act 1901

128 Paragraph 17(k)

Repeal the paragraph, substitute:

(k) Consolidated Revenue Fund means the Consolidated Revenue Fund referred to in section 81 of the Constitution;

(ka) Loan Fund means the Loan Fund established by section 19 of the Financial Management and Accountability Act 1996;

(kb) Reserved Money Fund means the Reserved Money Fund established by section 20 of the Financial Management and Accountability Act 1996.

Acts Interpretation Amendment Act 1976

129 Subsection 8(3)

Repeal the subsection.

Administrative Appeals Tribunal Act 1975

130 Section 24R

Repeal the section, substitute:

24R Annual report

(1) As soon as practicable after 30 June in each year, the President must prepare and give to the Minister a report of the management of the administrative affairs of the Tribunal during the year.

(2) The report must include:

(a) the financial statements required by section 49 of the Financial Management and Accountability Act 1996; and

(b) an audit report on those statements under section 57 of the Financial Management and Accountability Act 1996.

(3) The Minister must cause a copy of the report to be tabled in each House of the Parliament as soon as practicable.

131 Sections 24S and 24T

Repeal the sections.

Administrative Decisions (Judicial Review) Act 1977

132 Paragraph (h) of Schedule 2

Omit “32 or 36A of the Audit Act 1901”, substitute “27 of the Financial Management and Accountability Act 1996”.

Agricultural and Veterinary Chemicals (Administration) Act 1992

133 At the end of section 10

Add:

(5) Section 28 of the Commonwealth Authorities and Companies Act 1996 does not apply in relation to the NRA.

134 At the end of subsection 12(1)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the NRA. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

135 Subsections 23(1), (2) and (3)

Repeal the subsections.

Note: The heading to section 23 is altered by adding at the end “in resolutions without formal meetings”.

136 Paragraph 24(2)(b)

After “23”, insert “of this Act or section 21 of the Commonwealth Authorities and Companies Act 1996”.

137 Section 61

Repeal the section.

138 At the end of section 62

Add:

(2) Subsection (1) does not prevent investment of surplus money of the NRA under section 18 of the Commonwealth Authorities and Companies Act 1996.

139 Section 68

Omit “Without limiting the generality of subsection 63H(1) of the Audit Act 1901 in its application in relation to the NRA, the NRA must include in each report referred to in that subsection”, substitute “The directors must include in each report on the NRA prepared under section 9 of the Commonwealth Authorities and Companies Act 1996”.

140 Paragraph 69(1)(b)

Omit “63D(1) of the Audit Act 1901”, substitute “18(2) of the Commonwealth Authorities and Companies Act 1996”.

141 Subsection 69(2)

Repeal the subsection.

142 Section 81

Repeal the section.

Aircraft Noise Levy Collection Act 1995

143 Subsection 17(4)

Repeal the subsection.

Air Services Act 1995

144 At the end of subsection 7(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to AA. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

Albury-Wodonga Development Act 1973

145 After section 9

Insert:

9A Commonwealth Authorities and Companies Act 1996 does not apply to Corporation

The Corporation is not a Commonwealth authority for the purposes of the Commonwealth Authorities and Companies Act 1996.

Anglo-Australian Telescope Agreement Act 1970

146 After section 6

Insert:

6A Commonwealth Authorities and Companies Act 1996 does not apply to Board

The Board is not a Commonwealth authority for the purposes of the Commonwealth Authorities and Companies Act 1996.

Australia Council Act 1975

147 At the end of subsection 8(1)

Add:

148 Subparagraph 14(2)(a)(ii)

Omit “19”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

149 Subsection 15(6)

Omit “and section 19”, substitute “of this Act and section 21 of the Commonwealth Authorities and Companies Act 1996”.

150 Section 19

Repeal the section.

151 Paragraph 19F(2)(e)

Omit “19”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

152 Subsection 27(2)

Omit “19 or 31”, substitute “31 of this Act or with section 21 of the Commonwealth Authorities and Companies Act 1996”.

153 After subsection 33(1)

Insert:

(1A) Subsection (1) does not prevent investment of surplus money of the Council under section 18 of the Commonwealth Authorities and Companies Act 1996.

154 Subsection 34(2A)

Omit “in accordance with subsection 36A(2)”, substitute “under section 18 of the Commonwealth Authorities and Companies Act 1996.

155 Sections 35 and 36

Repeal the sections.

156 At the end of subsection 36A(1)

Add “The Council may also invest surplus money under section 18 of the Commonwealth Authorities and Companies Act 1996.”.

157 Subsection 36A(2)

Repeal the subsection.

158 Subsection 36A(3)

Omit “in accordance with this section”, substitute “as mentioned in subsection (1)”.

159 Section 37

Repeal the section.

160 Section 38

Repeal the section, substitute:

38 Extra reporting requirements

(1) The annual report on the Council under section 9 of the Commonwealth Authorities and Companies Act 1996 must also include:

(a) particulars of all matters specified by the Minister under paragraph 6A(c) during the year to which the report relates; and

(b) the text of all directions under sections 6B and 7 during the year to which the report relates.

(2) The Minister must cause any report or financial statements given by the members of the Council to the Minister under paragraph 16(1)(b) of the Commonwealth Authorities and Companies Act 1996 to be tabled in each House of the Parliament as soon as practicable.

161 Section 39

Repeal the section.

Australia-Japan Foundation Act 1976

162 Section 3 (definition of Fund)

Repeal the definition.

163 Section 3

Insert:

Reserve means the reserve established by section 17.

164 Paragraph 5(1)(d)

Omit “Fund”, substitute “Reserve”.

165 Part IV (heading)

Repeal the heading, substitute:

Part IV—Australia-Japan Reserve

166 Section 17

Repeal the section, substitute:

17 Establishment of Reserve

(1) This subsection establishes a reserve called the Australia-Japan Reserve.

(2) The Reserve is a component of the Reserved Money Fund.

167 Section 18

Omit “The Fund shall consist of”, substitute “There must be transferred to the Reserve from the Consolidated Revenue Fund”.

Note: The heading to section 18 is altered by omitting “Fund” and substituting “Reserve”.

168 Paragraph 18(a)

Omit “Fund”, substitute “Reserve”.

169 Paragraph 18(b)

Before “income”, insert “amounts equal to”.

170 Paragraph 18(b)

Omit “Fund”, substitute “Reserve”.

171 Paragraph 18(c)

Before “any moneys”, insert “amounts equal to”.

172 Paragraph 18(c)

Omit “Fund”, substitute “Reserve”.

173 Paragraph 18(d)

Before “any other moneys”, insert “amounts equal to”.

174 Paragraph 18(e)

Before “any moneys”, insert “amounts equal to”.

175 Subsection 19(1)

Omit “Fund”, substitute “Reserve”.

Note: The heading to section 19 is altered by omitting “Fund” and substituting “Reserve”.

176 Sections 24A, 24B and 25

Repeal the sections, substitute:

25 Annual report

(1) As soon as practicable after 30 June in each year, the Foundation must prepare and give to the Minister a report of the operations of the Foundation during the year.

(2) The report must include:

(a) the financial statements required by section 49 of the Financial Management and Accountability Act 1996; and

(b) an audit report on those statements under section 57 of the Financial Management and Accountability Act 1996; and

(3) The Minister must cause a copy of the report to be tabled in each House of the Parliament as soon as practicable.

(4) The Foundation must give the Minister any additional reports (with or without financial statements) that the Minister from time to time requires.

Australia New Zealand Food Authority Act 1991

177 At the end of subsection 6(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the Authority. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

178 At the end of section 11

Add:

(4) This section does not affect the application of section 28 of the Commonwealth Authorities and Companies Act 1996 in relation to the Authority.

179 Subsections 50(1), (2) and (3)

Repeal the subsections.

180 Paragraph 52(2)(b)

After “50”, insert “of this Act or section 21 of the Commonwealth Authorities and Companies Act 1996”.

181 Section 56

Repeal the section.

182 At the end of section 57

Add:

(3) Subsection (2) does not prevent investment of surplus money of the Authority under section 18 of the Commonwealth Authorities and Companies Act 1996.

183 Section 59

Repeal the section.

184 Paragraph 60(1)(b)

Omit “63J(1) of the Audit Act 1901 (as that subsection applies under subsection 59(1))”, substitute “18(2) of the Commonwealth Authorities and Companies Act 1996”.

185 Subsection 60(2)

Repeal the subsection.

186 Section 69

Omit “The Authority must include in each report prepared under section 63M of the Audit Act 1901 (as that section applies to the Authority under subsection 59(1))”, substitute “The members must include in each report on the Authority under section 9 of the Commonwealth Authorities and Companies Act 1996”.

Australian Broadcasting Corporation Act 1983

187 At the end of subsection 5(1)

Add:

188 Subsection 8(3)

Omit “this section shall”, substitute “subsection (1) or (2) is to”.

189 Subsection 17(1)

Repeal the subsection.

190 Subsection 17(1A)

Omit “subsection (1)”, substitute “section 21 of the Commonwealth Authorities and Companies Act 1996”.

191 Subsection 17(2)

Repeal the subsection.

192 Subsection 17(5)

Repeal the subsection.

193 Subparagraph 18(2)(a)(ii)

Omit “17”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

194 At the end of subsection 25A(2)

Add:

Note: Section 15 of the Commonwealth Authorities and Companies Act 1996 requires Directors to notify the Minister of significant business activities and arrangements.

195 Subsection 25A(3)

Repeal the subsection.

196 Subsection 68(1)

Omit “Subject to subsection (2), the”, substitute “The”.

197 Subsections 68(2) and (3)

Repeal the subsections, substitute:

(2) Subsection (1) does not prevent investment of surplus money of the Corporation under section 18 of the Commonwealth Authorities and Companies Act 1996.

Note: The heading to section 68 is altered by omitting “and investment”.

198 Section 69

Repeal the section.

199 Section 72

Repeal the section.

200 At the end of section 78

Add:

(7) Without limiting subsection (6), section 28 of the Commonwealth Authorities and Companies Act 1996 does not apply in relation to the Corporation.

201 Section 80

Omit “Board must cause to be included in each report prepared under section 63M of the Audit Act 1901, as that section applies to the Corporation by virtue of section 72 of this Act”, substitute “Directors must include in each annual report on the Corporation prepared under section 9 of the Commonwealth Authorities and Companies Act 1996”.

Australian Centre for International Agricultural Research Act 1982

202 Section 3 (definition of Fund)

Repeal the definition.

203 Section 3

Insert:

Reserve means the reserve established by section 33.

204 Subsection 33(1)

Omit “Trust Fund”, substitute “Reserve”.

Note: The heading to section 33 is altered by omitting “Fund” and substituting “Reserve”.

205 Subsection 33(2)

Repeal the subsection, substitute:

(2) The Reserve is a component of the Reserved Money Fund.

206 Section 34

Repeal the section, substitute:

34 Payments into Reserve

There must be transferred to the Reserve from the Consolidated Revenue Fund:

(a) all money appropriated by the Parliament for the purposes of the Reserve; and

(b) amounts equal to money from time to time received by the Centre.

207 Section 35

Omit “Fund”, substitute “Reserve”.

Note: The heading to section 35 is altered by omitting “Fund” and substituting “Reserve”.

208 Section 36

Omit “Fund” (wherever occurring), substitute “Reserve”.

209 Sections 38A, 38AA, 38B and 39

Repeal the sections, substitute:

39 Annual report

(1) As soon as practicable after 30 June in each year, the Board must prepare and give to the Minister a report of the operations of the Centre during the year.

(2) The report must include:

(a) the financial statements required by section 49 of the Financial Management and Accountability Act 1996; and

(b) an audit report on those statements under section 57 of the Financial Management and Accountability Act 1996.

(3) The Minister must cause a copy of the report to be tabled in each House of the Parliament as soon as practicable.

Australian Film Commission Act 1975

210 At the end of subsection 4(2)

Add:

211 Subsection 6(4)

Omit all the words from and including “The Commission” to and including “a statement of:”, substitute “The annual report on the Commission under section 9 of the Commonwealth Authorities and Companies Act 1996 must also include a statement of:”.

212 Section 22

Repeal the section.

213 Subparagraph 23(2)(a)(ii)

Omit “section 22”, substitute “section 21 of the Commonwealth Authorities and Companies Act 1996”.

214 Section 32

Repeal the section.

215 Subsection 33(2)

Repeal the subsection, substitute:

(2) Subsection (1) does not prevent investment of surplus money of the Commission under section 18 of the Commonwealth Authorities and Companies Act 1996.

216 Section 34

Repeal the section.

217 Paragraph 35(2)(b)

Omit “in accordance with subsection 33(2)”, substitute “under section 18 of the Commonwealth Authorities and Companies Act 1996”.

218 Sections 37, 38, 40D, 44 and 45

Repeal the sections.

Australian Film, Television and Radio School Act 1973

219 At the end of subsection 4(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the School. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

220 Paragraph 18(c)

Omit “19”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

221 Section 19

Repeal the section.

222 Paragraph 29(1)(c)

Omit “19”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

223 Sections 37 and 38

Repeal the sections.

224 After subsection 39(1)

Insert:

(1A) Subsection (1) does not prevent investment of surplus money of the School under section 18 of the Commonwealth Authorities and Companies Act 1996.

Australian Heritage Commission Act 1975

225 At the end of subsection 11(1)

Add:

226 Paragraph 18(2)(c)

Omit “section 19”, substitute “section 21 of the Commonwealth Authorities and Companies Act 1996”.

227 Section 19

Repeal the section, substitute:

19 Application of section 21 of the Commonwealth Authorities and Companies Act 1996 to deemed and co-opted Commissioners

Section 21 of the Commonwealth Authorities and Companies Act 1996 (disclosure of material personal interests) applies to a person deemed to be a Commissioner under subsection 17(3), or to a person who is a co-opted Commissioner, as if the person were a Commissioner.

228 Subsection 21(3)

Repeal the subsection, substitute:

(3) A person appointed under subsection (1):

(a) is to be regarded as a Commissioner for the purposes of section 14 of this Act and of section 21 of the Commonwealth Authorities and Companies Act 1996; but

(b) is not to be regarded as a Commissioner for the purposes of any of the other provisions of this Act or of the Commonwealth Authorities and Companies Act 1996.

229 At the end of section 35

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Commission under section 18 of the Commonwealth Authorities and Companies Act 1996.

230 Sections 36, 38, 40 and 41

Repeal the sections.

231 Section 43

Repeal the section, substitute:

43 Extra reporting requirements

(1) The annual report on the Commission under section 9 of the Commonwealth Authorities and Companies Act 1996 must also include:

(a) a description of the condition of the national estate at the end of the period to which the report relates; and

(b) the text of all directions given by the Minister to the Commission under section 25 during the period to which the report relates.

(2) The Commission may also give the Minister any other reports relating to the national estate that it thinks fit.

(3) The Minister must cause any report the Commission gives the Minister under subsection (2), or under paragraph 16(1)(b) of the Commonwealth Authorities and Companies Act 1996, to be tabled in each House of the Parliament within 15 sitting days of that House after the Minister receives the report.

Australian Horticultural Corporation Act 1987

232 Subsection 3(1) (definition of authorised auditor)

Repeal the definition.

233 Subsection 3(1) (definition of company auditor)

Repeal the definition.

234 Subsection 3(1) (definition of Corporation auditor)

Repeal the definition.

235 At the end of subsection 12(1)

Add:

236 Section 23

Repeal the section.

237 Paragraph 24(2)(b)

Omit “23”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

238 Subsection 30(1)

Repeal the subsection.

239 Subsection 30(2)

Omit “Without limiting the generality of subsection (1), the Corporation shall include in the report:”, substitute “The annual report on the Corporation under section 9 of the Commonwealth Authorities and Companies Act 1996 must also include:”.

Note: The heading to section 30 is replaced by the heading “Extra matters to be included in annual report”.

240 Paragraph 30(2)(a)

Omit “and of each Board”.

241 Paragraph 30(2)(b)

Omit “or a Board” (wherever occurring).

242 Subsections 30(3), (4), (4A) and (5)

Repeal the subsections.

243 After section 30

Insert:

30A Corporation to give Minister annual reports on Product Boards

(1) The Corporation must, by the 15 October after the end of each financial year, give to the Minister the annual report on each Product Board for that year given to the Corporation by the Board under section 9 of the Commonwealth Authorities and Companies Act 1996 (as modified by section 101A of this Act).

(2) The Minister may grant an extension of time in special circumstances.

(3) The Minister must table each report in each House of the Parliament as soon as practicable.

244 Subsection 49(1)

Repeal the subsection.

Note: The heading to section 49 is replaced by the heading “Separate accounts may be required in some circumstances”.

245 Sections 50, 51, 56 and 57

Repeal the sections.

246 Subsection 73(5)

Repeal the subsection, substitute:

(5) Section 21 of the Commonwealth Authorities and Companies Act 1996 applies in relation to the committee as if the committee were a Commonwealth authority (as defined in that Act).

247 At the end of subsection 101(1)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to each Board. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

248 After section 101

Insert:

101A Modification of the Commonwealth Authorities and Companies Act 1996

Section 9 of the Commonwealth Authorities and Companies Act 1996 applies in relation to a Board as if:

(a) a reference to the responsible Minister were instead a reference to the Corporation; and

(b) the reference to the 15th day of the 4th month after the end of the financial year were instead a reference to the next 31 August after the end of the financial year; and

249 Subsection 115F(1)

Repeal the subsection.

250 Subsection 115F(2)

Omit “Without limiting the generality of subsection (1), each report must include:”, substitute “The annual report on a Board under section 9 of the Commonwealth Authorities and Companies Act 1996 must also include:”.

Note: The heading to section 115F is replaced by the heading “Extra matters to be included in Product Board annual reports”.

251 Subsections 115F(3), (4) and (5)

Repeal the subsections.

252 Section 115FA

Omit “a report of a Board has been given to the Corporation under subsection 115F(1)”, substitute “an annual report on a Board has been given to the Corporation”.

253 Section 115S

Omit “50, 51,”.

254 Section 115T

Repeal the section.

255 Subsection 115ZB(5)

Repeal the subsection, substitute:

(5) Section 21 of the Commonwealth Authorities and Companies Act 1996 applies in relation to a committee as if the committee were a Commonwealth authority (as defined in that Act).

Australian Industry Development Corporation Act 1970

256 At the end of subsection 5(2)

Add:

Note: Subject to section 5A, the Commonwealth Authorities and Companies Act 1996 applies to the Corporation. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment and conduct of officers.

257 After section 5

Insert:

5A Modification of the Commonwealth Authorities and Companies Act 1996—how that Act applies to subsidiaries

(1) Sections 15, 16, 17, 28 and 29 of the Commonwealth Authorities and Companies Act 1996 have effect, as they apply to the Corporation, as if a reference in any of those sections to a subsidiary were instead a reference to an eligible subsidiary in relation to the Corporation as defined in section 4 of this Act.

(2) Finance Minister’s Orders referred to in subsection 13(2) of the Commonwealth Authorities and Companies Act 1996 cannot require the Corporation to include, in reports under section 13 of that Act, information about a subsidiary of the Corporation that is not an eligible subsidiary (as defined in section 4 of this Act).

258 Subsection 8A(10)

Omit all the words after “and shall include”, substitute “in the annual report on the Corporation under section 9 of the Commonwealth Authorities and Companies Act 1996 a separate report on each such operation carried on during the year to which the report relates.”.

259 Subsection 8A(12)

Repeal the subsection.

260 Section 9

After “this Act”, insert “and the Commonwealth Authorities and Companies Act 1996”.

261 Paragraph 19(3)(b)

Omit “22”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

262 Sections 22, 23B, 23C and 23D

Repeal the sections.

263 Section 23E

After “financial target”, insert “for a corporate plan under section 17 of the Commonwealth Authorities and Companies Act 1996”.

264 Sections 23F, 23H and 25

Repeal the sections.

265 Subsection 26(1)

Omit “Subject to subsection (2), moneys”, substitute “Money”.

266 Subsection 26(2)

Repeal the subsection, substitute:

(2) Subsection (1) does not prevent the investment of surplus money of the Corporation under section 19 of the Commonwealth Authorities and Companies Act 1966.

267 Section 28

Repeal the section.

268 Subsections 29(1) to (7) (inclusive)

Repeal the subsections.

269 Paragraph 29(8)(a)

Omit “under this section”.

Note: The heading to section 29 is replaced by the heading “Additional audit arrangements”.

270 Subsections 37(1) to (2B) (inclusive)

Repeal the subsections.

271 Subsection 37(2C)

Omit “The report of the corporation’s operations for a financial year shall:”, substitute “The annual report on the Corporation under section 9 of the Commonwealth Authorities and Companies Act 1996 must also:”.

Note: The heading to section 37 is replaced by the heading “Extra reporting requirements”.

272 Paragraph 37(2C)(b)

Omit “overall”.

273 Paragraphs 37(2C)(d) and (e)

Omit “target”, substitute “targets”.

274 Subsection 37(3)

Repeal the subsection.

275 Subsection 37(4)

Omit “under subsection (3)”, substitute “relating to the Corporation under Part 2 of Schedule 1 to the Commonwealth Authorities and Companies Act 1996”.

276 Subsection 37(5)

Repeal the subsection, substitute:

(5) In this section:

corporate plan means the corporate plan for the Corporation under section 17 of the Commonwealth Authorities and Companies Act 1996.

277 After section 37

Insert:

37A Information about the receiving subsidiary

(1) The Minister or the Finance Minister may require the Corporation to give to him or her a copy of information of a particular kind about the receiving subsidiary that is provided to the Corporation as a holder of shares in the receiving subsidiary.

(2) The Directors must comply with the requirement as soon as practicable after receiving information of that kind.

(3) In this section:

Finance Minister means the Minister who administers the Commonwealth Authorities and Companies Act 1996.

Australian Institute of Aboriginal and Torres Strait Islander Studies Act 1989

278 At the end of subsection 4(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the Institute. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

279 Section 19

Repeal the section.

280 Paragraph 21(2)(b)

Omit “19”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

281 Section 37

Repeal the section.

282 At the end of section 38

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Institute under section 18 of the Commonwealth Authorities and Companies Act 1996.

283 Section 40

Repeal the section.

284 Subsection 42(1)

Repeal the subsection.

Note: The heading to section 42 is altered by omitting “Minister and Commission” and substituting “Commission and TSRA”.

285 Section 58

Repeal the section.

Australian Institute of Health and Welfare Act 1987

286 At the end of subsection 4(2)

Add:

287 At the end of section 7

Add:

(3) This section does not affect the application of section 28 of the Commonwealth Authorities and Companies Act 1996 in relation to the Institute.

288 Paragraph 13(2)(b)

Omit “14”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

289 Subsections 14(1) and (2)

Repeal the subsections.

290 Subsection 14(3)

Omit “This section”, substitute “Section 21 of the Commonwealth Authorities and Companies Act 1996”.

291 Subsection 16(13)

Repeal the subsection, substitute:

(13) A member of a committee must disclose at a meeting of the committee any pecuniary or other interest:

(a) that the member has directly or indirectly in a matter being considered, or about to be considered by the committee; and

(b) that would conflict with the proper performance of the member’s functions in relation to the consideration of the matter.

The member must make the disclosure as soon as practicable after he or she knows of the relevant facts.

(14) The disclosure must be recorded in the minutes of the meeting.

(15) Subsection (13) does not apply to an interest held by a member described in paragraph 8(1)(c), (ca), (cb) or (h) or subsection 8(2) merely because the member was nominated by a body or person mentioned in that paragraph or subsection.

292 Section 21

Repeal the section.

293 At the end of section 22

Add:

(3) Subsection (2) does not prevent investment of surplus money of the Institute under section 18 of the Commonwealth Authorities and Companies Act 1996.

294 Subsection 24(1)

Repeal the subsection.

Note: The heading to section 24 is replaced by the heading “Extra matters to be included in annual report”.

295 Subsection 24(2)

Omit “prepared under section 63M of the Audit Act 1901 (as that section applies by virtue of subsection (1)) shall”, substitute “on the Institute under section 9 of the Commonwealth Authorities and Companies Act 1996 must”.

296 Paragraph 25(1)(a)

Omit “subsection 63J(1) of the Audit Act 1901 (as that subsection applies by virtue of subsection 24(1))”, substitute “subsection 18(2) of the Commonwealth Authorities and Companies Act 1996”.

297 Subsection 25(2)

Repeal the subsection.

Australian Institute of Marine Science Act 1972

298 Subsection 5(2)

Repeal the subsection.

299 At the end of subsection 7(2)

Add:

300 Section 10AA

Repeal the section.

301 Paragraph 16(c)

Omit “18”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

302 Section 18

Repeal the section.

303 Paragraph 28(d)

Omit “18”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

304 Section 37

Repeal the section.

305 At the end of section 38

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Institute under section 18 of the Commonwealth Authorities and Companies Act 1996.

306 Section 40

Repeal the section.

Australian Land Transport Development Act 1988

307 Title

Omit “Trust Fund”, substitute “reserve”.

308 Subsection 3(1) (definition of Fund)

Repeal the definition.

309 Subsection 3(1)

Insert:

Reserve means the Australian Land Transport Reserve established by section 11.

310 Paragraph 3(6)(a)

Omit “Fund” (wherever occurring), substitute “Reserve”.

311 Subsections 10(3) and (4)

Repeal the subsections.

312 Part 2 (heading)

Repeal the heading, substitute:

Part 2—Australian Land Transport Development Reserve

313 Subsection 11(1)

Omit “fund”, substitute “reserve”.

Note: The heading to section 11 is altered by omitting “Fund” and substituting “Reserve”.

314 Subsection 11(1)

Omit “Trust Fund”, substitute “Reserve”.

315 Subsection 11(2)

Repeal the subsection, substitute:

(2) The Reserve is a component of the Reserved Money Fund.

316 Subsection 12(1)

Omit “Fund”, substitute “Reserve out of the Consolidated Revenue Fund”.

Note: The heading to section 12 is altered by omitting “Fund” and substituting “Reserve”.

317 Subsection 12(2)

Omit “Fund”, substitute “Reserve”.

318 Subsection 12(4)

Repeal the subsection, substitute:

(4) If interest is received by the Commonwealth from the investment of money from the Reserve, an amount equal to the interest must be transferred to the Reserve from the Consolidated Revenue Fund.

319 Section 13

Repeal the section.

320 Section 15

Omit “the Fund” (wherever occurring), substitute “the Reserve”.

Note: The heading to section 15 is altered by omitting “Fund” and substituting “Reserve”.

321 Section 16

Repeal the section.

322 Sections 17, 18, 19, 20, 21, 22, 23, 24, 26, 27, 28A, 29, 30, 31, 32 and 33

Omit “the Fund” (wherever occurring), substitute “the Reserve”.

Note 1: The heading to section 28 is altered by omitting “Fund” and substituting “Reserve”.

Note 2: The heading to section 28A is altered by omitting “Fund” and substituting “Reserve”.

Note 3: The heading to section 31 is altered by omitting “Fund” and substituting “Reserve”.

323 Subsection 34(1)

Repeal the subsection, substitute:

(1) Whenever an amount is repaid to the Commonwealth by a State, approved railway authority or approved organisation under this Act, an equal amount must be transferred to the Reserve from the Consolidated Revenue Fund.

324 Section 35

Repeal the section.

325 Paragraph 37(1)(a)

Omit “Fund”, substitute “Reserve”.

326 Paragraph 40(d)

Omit “the Fund”, substitute “the Reserve”.

327 Subsection 41(1)

Omit “Fund” (wherever occurring), substitute “Reserve”.

Australian Maritime Safety Authority Act 1990

328 At the end of subsection 5(2)

Add:

329 At the end of subsection 10(2)

Add:

Note: Subsection 18(3) of the Commonwealth Authorities and Companies Act 1996 gives the Authority power to invest its surplus money.”.

330 Section 11

Repeal the section.

331 Section 19

Repeal the section.

332 Paragraph 21(2)(d)

Omit “19”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

333 Section 28

Repeal the section.

334 Sections 44 and 45

Repeal the sections.

Australian National Maritime Museum Act 1990

335 At the end of subsection 5(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the Museum. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

336 Subsection 10(5)

Omit “The Museum must, in each report prepared under section 63M of the Audit Act 1901 (as that section applies by virtue of subsection 48(1)),”, substitute “In each report on the Museum under section 9 of the Commonwealth Authorities and Companies Act 1996, the members must”.

337 Paragraph 21(2)(c)

Omit “22”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

338 Section 22

Repeal the section.

339 Subsection 23(6)

Omit “22(2)”, substitute “21(3) of the Commonwealth Authorities and Companies Act 1996”.

340 Paragraph 36(2)(e)

Omit “22 or 37”, substitute “37 of this Act, or section 21 of the Commonwealth Authorities and Companies Act 1996,”.

341 Subsection 44(4)

Omit “section 63J of the Audit Act 1901 (as that section applies because of section 48 of this Act)”, substitute “subsection 18(2) of the Commonwealth Authorities and Companies Act 1996”.

342 Subsection 45(2)

Repeal the subsection, substitute:

(2) Subsection (1) does not prevent investment of surplus money of the Museum under section 18 of the Commonwealth Authorities and Companies Act 1996.

343 Section 46

Repeal the section.

344 Subsection 47(3)

Omit “45(2) or paragraph 50(2)(b)”, substitute “18(3) of the Commonwealth Authorities and Companies Act 1996 or paragraph 50(2)(b) of this Act”.

345 Subsections 48(1) and (2)

Repeal the subsections.

Note: The heading to section 48 is replaced by the heading “Extra matters to be included in annual report”.

346 Subsection 48(3)

Omit “submitted by the Museum under section 63M of the Audit Act 1901, as that section applies because of subsection (1) of this section, shall”, substitute “prepared by the members under section 9 of the Commonwealth Authorities and Companies Act 1996 must”.

347 Subsection 50(1)

Omit “opened and maintained under section 63J of the Audit Act 1901 (as that section applies because of section 48 of this Act) that does not, or accounts referred to in that section that do not,”, substitute “maintained under subsection 18(2) of the Commonwealth Authorities and Companies Act 1996 that does not”.

348 Subsections 50(3) and (4)

Repeal the subsections.

Australian National Railways Commission Act 1983

349 Subsection 3(1) (definition of authorised auditor)

Repeal the definition.

350 Subsection 3(1)

Insert:

annual report means an annual report on the Commission under section 9 of the Commonwealth Authorities and Companies Act 1996.

corporate plan means a corporate plan for the Commission under section 17 of the Commonwealth Authorities and Companies Act 1996.

351 At the end of subsection 4(2)

Add:

352 Subsections 8(3), (4) and (5)

Repeal the subsections.

353 At the end of section 19

Add:

Note: This section does not affect the application of the Commonwealth Authorities and Companies Act 1996 to the Commission.

354 Subsection 20A(3)

Omit “, in developing objectives, strategies and policies under subsection 22(1),”, substitute “, in preparing its corporate plan,”.

355 Subsection 20A(4)

Repeal the subsection.

356 Section 22

Repeal the section.

357 Paragraph 32(2)(d)

Omit “his obligations under section 33”, substitute “section 21 of the Commonwealth Authorities and Companies Act 1996”.

358 Subsection 32(3A)

Repeal the subsection, substitute:

(3A) If:

(a) the Minister is of the opinion that:

(i) the Commission has failed to comply with section 20B of this Act; or

(ii) the Commissioners have failed to comply with:

(A) subsection 13(2), 15(1) or 17(5) of the Commonwealth Authorities and Companies Act 1996; or

(B) paragraph 16(1)(a) or (b) of the Commonwealth Authorities and Companies Act 1996; and

(b) the Minister proposes that the appointment of all or specified Commissioners be terminated;

the Governor-General is to terminate the appointment of all Commissioners, or the specified Commissioners, as the case may be.

359 Sections 33 and 59

Repeal the sections.

360 Subsection 60(2)

Repeal the subsection, substitute:

(2) Subsection (1) does not prevent investment of surplus money of the Commission under section 19 of the Commonwealth Authorities and Companies Act 1996.

361 Sections 65, 66 and 66A

Repeal the sections.

362 Subsection 67A(1)

Repeal the subsection.

363 Subsection 67A(2)

Omit “The report shall:”, substitute “The Commission’s annual report must also:”.

Note: The heading to section 67A is replaced by the heading “Extra matters to be included in annual report”.

364 Paragraph 67A(2)(a)

Omit “8(5) or”.

365 At the end of paragraphs 67A(2)(a), (b), (c) and (d) and subparagraph 67A(2)(e)(i)

Add “and”.

366 After paragraph 67A(2)(a)

Insert:

(aa) include a summary of:

(i) notices given to the Commission in that financial year under subsection 20A(1); and

(ii) action taken by the Commission, in that financial year, because of notices given to the Commission under subsection 20A(1); and

367 Subsection 67A(3)

Repeal the subsection, substitute:

(3) The financial statements in the annual report must show separately the financial effect on the Commission’s operations of each direction that:

(a) was given to the Commission by the Minister under subsection 19(2); and

(b) was applicable to the year to which the report relates.

368 Subsections 67A(4), (5), (6) and (7)

Repeal the subsections.

369 Section 71

Repeal the section.

Australian National Training Authority Act 1992

370 At the end of section 18

Add:

(5) This section does not affect, and is not affected by, section 9 of the Commonwealth Authorities and Companies Act 1996 as it applies in relation to the Authority under section 23 of this Act.

371 Section 23

Repeal the section, substitute:

23 Application of the Commonwealth Authorities and Companies Act

(1) The Authority is not a Commonwealth authority for the purposes of the Commonwealth Authorities and Companies Act 1996.

(2) Sections 9, 11, 18 and 20 of that Act, and Schedule 1 to that Act, apply in relation to the Authority as if it were a Commonwealth authority for the purposes of that Act.

(3) A copy of each annual report given to the Minister must be given to each member of the Ministerial Council as soon as practicable.

Australian National University Act 1991

372 At the end of subsection 4(2)

Add:

Note: Subject to section 4A, the Commonwealth Authorities and Companies Act 1996 applies to the University. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking, and conduct of officers.

373 After section 4

Insert:

4A Modification of the Commonwealth Authorities and Companies Act 1996

(1) Section 14, subsection 18(3), and sections 28 and 29, of the Commonwealth Authorities and Companies Act 1996 do not apply in relation to the University.

(2) Nothing in section 16 of the Commonwealth Authorities and Companies Act 1996 requires the members of the Council to do anything that will or might affect the academic independence or integrity of the University.

4B University’s financial year starts on 1 January

For the purposes of the Commonwealth Authorities and Companies Act 1996, the University’s financial year is a period of 12 months starting on 1 January.

374 Subsection 6(3)

After “this Act”, insert “or the Commonwealth Authorities and Companies Act 1996”.

375 Section 14

Repeal the section.

376 Paragraph 15(1)(e)

Omit “subsection 14(1)”, substitute “section 21 of the Commonwealth Authorities and Companies Act 1996”.

377 Sections 45, 46, 47 and 49

Repeal the sections.

378 Subsection 50(1)

After “this Act” (first occurring), insert “or the Commonwealth Authorities and Companies Act 1996”.

379 Subparagraph 50(2)(f)(iii)

Repeal the subparagraph, substitute:

(iii) disclosure of pecuniary interests at meetings of the Convocation or of a statutory Board; and

Australian Nuclear Science and Technology Organisation Act 1987

380 Subsection 3(2)

Repeal the subsection.

381 At the end of subsection 4(1)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the Organisation. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

382 Subsections 7(1) and (2)

Repeal the subsections.

Note: The heading to section 7 is replaced by the heading “Disclosure of the Organisation’s interests in companies”.

383 Subsection 7(3)

Omit “Subject to subsection (4), where”, substitute “If”.

384 Subsection 7(4)

Repeal the subsection.

385 Paragraph 14(2)(c)

Omit “15”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

386 Section 15

Repeal the section.

387 Subsection 16(6)

Omit “15(2)”, substitute “21(3) of the Commonwealth Authorities and Companies Act 1996”.

388 Paragraph 21C(2)(d)

Omit “15 or 22”, substitute “22 of this Act or section 21 of the Commonwealth Authorities and Companies Act 1996”.

389 Subsection 27(4)

Repeal the subsection, substitute:

(4) Subsection (3) does not prevent investment of surplus money of the Organisation under section 18 of the Commonwealth Authorities and Companies Act 1996.

390 Section 28

Repeal the section.

391 Subsections 29(1) and (2)

Repeal the subsections.

Note: The heading to section 29 is replaced by the heading “Extra matters to be included in annual report”.

392 Subsection 29(3)

Omit “Organisation shall, in each report prepared pursuant to section 63M of the Audit Act 1901 (as that section applies in relation to the Organisation by virtue of subsection (1))”, substitute “members of the Board must, in each annual report they prepare under section 9 of the Commonwealth Authorities and Companies Act 1996,”.

393 At the end of subsection 37(2)

Add:

Note: Subject to section 37R, the Commonwealth Authorities and Companies Act 1996 applies to the Bureau. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

394 Subsection 37Q(4)

Repeal the subsection, substitute:

(4) Subsection (3) does not prevent investment of surplus money of the Bureau under section 18 of the Commonwealth Authorities and Companies Act 1996.

395 Section 37R

Repeal the section, substitute

37R Application of the Commonwealth Authorities and Companies Act 1996

(1) The Commonwealth Authorities and Companies Act 1996 (except section 21) applies in relation to the Bureau as if the Director of the Nuclear Safety Bureau were a director of the Bureau for the purposes of that Act.

(2) Each annual report prepared by the Director under section 9 of the Commonwealth Authorities and Companies Act 1996 must include particulars of each direction that:

(a) was given by the Minister to the Bureau under section 37D of this Act; and

(b) applied in relation to the financial year covered by the report.

396 Section 37U

Repeal the section, substitute:

37U Tabling of reports and documents given to the Minister by the Bureau

Within 15 sitting days of receiving a report or document from the Bureau under section 16 of the Commonwealth Authorities and Companies Act 1996, the Minister must cause a copy of the report or document to be tabled in each House of the Parliament.

397 Subsection 39(1)

Omit “opened and maintained pursuant to section 63J of the Audit Act 1901 (as that section applies in relation to the Organisation by virtue of section 29 of this Act) that does not, or accounts referred to in that section that do not,”, substitute “maintained under subsection 18(2) of the Commonwealth Authorities and Companies Act 1996 that does not”.

398 Subsection 39(2)

Omit “, 28 and 29”.

399 Subsections 39(3), (4) and (5)

Repeal the subsections.

Australian Postal Corporation Act 1989

400 Section 3 (definition of authorised auditor)

Repeal the definition.

401 At the end of section 13

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to Australia Post. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

402 Paragraph 28(a)

Omit “notified by the Minister under section 48”, substitute “of which the directors are notified under section 28 of the Commonwealth Authorities and Companies Act 1996”.

403 Sections 35, 36 and 37

Repeal the sections.

404 Section 38

After “financial target”, insert “for inclusion in a corporate plan under section 17 of the Commonwealth Authorities and Companies Act 1996”.

405 Paragraph 38(h)

Omit “notified by the Minister under section 48”, substitute “of which the directors are notified under section 28 of the Commonwealth Authorities and Companies Act 1996”.

406 Section 39

Repeal the section.

407 Subsection 40(1)

Omit all the words from and including “When” to and including “receiving the copy of the plan”, substitute “If the Minister receives a corporate plan for Australia Post under section 17 of the Commonwealth Authorities and Companies Act 1996, the Minister may, within 60 days”.

408 Paragraph 40(1)(b)

Omit “the”, substitute “a”.

409 At the end of section 40

Add:

(5) Australia Post must comply with a direction under subsection (1) and must inform the Minister of the changes made to the plan to comply with the direction.

410 Sections 41 and 42

Repeal the sections.

411 Section 43

Omit “The report of Australia Post’s operations for a financial year shall:”, substitute “The annual report on Australia Post under section 9 of the Commonwealth Authorities and Companies Act 1996 must also:”.

Note: The heading to section 43 is altered by omitting “General” and substituting “Extra general”.

412 Paragraph 43(b)

Repeal the paragraph, substitute:

(b) include an outline of:

(i) the strategies and policies of Australia Post and its subsidiaries that are set out in the corporate plan; and

(ii) the financial targets and non-financial performance measures that are set out in the corporate plan; and

413 Subparagraph 43(g)(i)

Omit “notified under section 48”, substitute “of which the directors are notified under section 28 of the Commonwealth Authorities and Companies Act 1996”.

414 At the end of section 43

Add:

(2) In this section:

corporate plan means the corporate plan for Australia Post under section 17 of the Commonwealth Authorities and Companies Act 1996.

415 Subsection 44(1)

Note: The heading to section 44 is altered by omitting “Financial” and substituting “Extra financial”.

416 Paragraph 44(1)(a)

Omit “target”, substitute “targets”.

417 Paragraph 44(1)(b)

Omit “vary the”, substitute “vary a”.

418 Paragraph 44(1)(c)

Omit “target”, substitute “targets”.

419 Subparagraph 44(1)(g)(ii)

Omit “notified by the Minister under section 48”, substitute “of which the directors are notified under section 28 of the Commonwealth Authorities and Companies Act 1996”.

420 At the end of section 44

Add:

(3) In this section:

corporate plan means the corporate plan for Australia Post under section 17 of the Commonwealth Authorities and Companies Act 1996.

421 Sections 45, 46, 47 and 48

Repeal the sections.

422 Subsection 57(2)

Repeal the subsection, substitute:

(2) Subsection (1) does not prevent investment of surplus money of Australia Post under section 19 of the Commonwealth Authorities and Companies Act 1996.

423 Sections 58 and 59

Repeal the sections.

424 Subsection 67(2)

Omit “subsection 71(2)”, substitute “section 21 of the Commonwealth Authorities and Companies Act 1996”.

425 Section 71

Repeal the section, substitute:

71 Disclosure not required in relation to publicly available goods or services

Section 21 of the Commonwealth Authorities and Companies Act 1996 does not apply to a matter relating to the supply of goods or services for a director if the goods or services are, or are to be, available to members of the public on the same terms and conditions.

426 Paragraph 79(2)(b)

Omit “71”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

427 Paragraph 79(5)(a)

Omit “41, 46 or 47”, substitute “15 or 16, or subsection 17(5), of the Commonwealth Authorities and Companies Act 1996”.

Australian Securities Commission Act 1989

428 At the end of section 8

Add:

429 At the end of section 124

Add:

(7) Section 21 of the Commonwealth Authorities and Companies Act 1996 does not apply to members.

430 Subsection 135(1)

Omit “Subject to subsection (3), the”, substitute “The”.

431 Subsection 135(3)

Repeal the subsection, substitute:

(3) Subsection (1) does not prevent investment of surplus money of the Commission under section 18 of the Commonwealth Authorities and Companies Act 1996.

432 Subsection 135(4)

Omit “has effect”, substitute “and subsection 18(3) of the Commonwealth Authorities and Companies Act 1996 have effect in relation to the Commission”.

433 Subsection 135(6)

Omit “subsection (3)”, substitute “subsection 18(3) of the Commonwealth Authorities and Companies Act 1996”.

434 Section 136

Repeal the section.

435 Subsection 137(2) (definition of contract)

Omit “subsection 135(3)”, substitute “subsection 18(3) of the Commonwealth Authorities and Companies Act 1996”.

436 Section 138

Repeal the section, substitute:

138 Extra matters to be included in annual report

A report on the Commission under section 9 of the Commonwealth Authorities and Companies Act 1996 must:

(a) describe the specific goals the Commission has pursued, and the priorities it has followed, during the year, in performing its functions and pursuing the objectives referred to in subsection 1(2); and

(b) describe what progress the Commission has made during that year towards achieving those goals; and

(c) describe any matters that, during that year, have adversely affected the Commission’s effectiveness or have hindered the Commission in pursuing any of those goals and objectives.

437 Paragraph 141(a)

Omit “section 63J of the Audit Act 1901”, substitute “subsection 18(2) of the Commonwealth Authorities and Companies Act 1996”.

438 Sections 143 and 144

Repeal the sections.

439 At the end of section 146

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the Advisory Committee. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

440 Subsection 161(1)

Omit “Subject to subsection (3), the”, substitute “The”.

441 Subsection 161(3)

Repeal the subsection, substitute:

(3) Subsection (1) does not prevent investment of surplus money of the Advisory Committee under section 18 of the Commonwealth Authorities and Companies Act 1996.

442 Subsection 161(6)

Omit “(3)”, substitute “18(3) of the Commonwealth Authorities and Companies Act 1996”.

443 Section 162

Repeal the section.

444 Section 164

Repeal the section.

445 Paragraph 167(a)

Omit “section 63J of the Audit Act 1901”, substitute “subsection 18(2) of the Commonwealth Authorities and Companies Act 1996”.

446 Sections 169 and 170

Repeal the sections.

Australian Sports Commission Act 1989

447 At the end of subsection 5(2)

Add:

448 Section 18

Repeal the section.

449 Paragraph 19(2)(b)

Omit “section 18”, substitute “section 21 of the Commonwealth Authorities and Companies Act 1996”.

450 Subsection 21(10)

Omit “direct or indirect pecuniary”, substitute “material personal”.

451 Subsection 22(7)

Repeal the subsection, substitute:

(7) Section 21 of the Commonwealth Authorities and Companies Act 1996 applies to a member of a committee as if:

(a) the committee were the Board referred to in that section; and

(b) the member were a director of a Commonwealth authority referred to in that section; and

452 Section 44

Repeal the section.

453 At the end of section 45

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Commission under section 18 of the Commonwealth Authorities and Companies Act 1996.

454 Subsection 47(2)

Omit “subsection 49(1)”, substitute “subsection 18(3) of the Commonwealth Authorities and Companies Act 1996”.

455 Subsection 48(1)

Repeal the subsection.

Note: The heading to section 48 is replaced by the heading “Extra matters to be included in annual report”.

456 Subsection 48(2)

Omit “Commission shall, in each report prepared pursuant to section 63M of the Audit Act 1901 (as that section applies by virtue of subsection (1))”, substitute “members must, in each report on the Commission under section 9 of the Commonwealth Authorities and Companies Act 1996”.

457 Section 49

Repeal the section.

458 Subsection 52(1)

Omit “opened and maintained under section 63J of the Audit Act 1901 (as that section applies by virtue of section 48 of this Act)”, substitute “maintained under subsection 18(2) of the Commonwealth Authorities and Companies Act 1996”.

459 Subsection 52(2)

Omit “Notwithstanding sections 44, 45, 48 and 49”, substitute “Despite section 45”.

460 Subsections 52(3) and (4)

Repeal the subsections.

461 Section 53

Repeal the section.

462 Section 56

Omit “, 44”.

463 Section 61

Repeal the section.

Australian Sports Drug Agency Act 1990

464 At the end of subsection 7(1)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the Agency. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

465 Section 59

Repeal the section.

466 At the end of section 60

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Agency under section 18 of the Commonwealth Authorities and Companies Act 1996.

467 Subsection 62(2)

Repeal “subsection 64(1)”, substitute “section 18 of the Commonwealth Authorities and Companies Act 1996”.

468 Subsection 63(1)

Repeal the subsection.

Note: The heading to section 63 is replaced by the heading “Extra matters to be included in annual report”.

469 Subsection 63(2)

Omit “The Agency must, in each report prepared under section 63M of the Audit Act 1901 (as that section applies by virtue of subsection (1) of this section)”, substitute “In each report on the Agency under section 9 of the Commonwealth Authorities and Companies Act 1996, the members must”.

470 Subsection 63(3)

Omit “prepared by the Agency”.

471 Section 64

Repeal the section.

472 Subsection 65(1)

Omit “opened and maintained under section 63J of the Audit Act 1901 (as that section applies by virtue of section 63 of this Act)”, substitute “maintained under subsection 18(2) of the Commonwealth Authorities and Companies Act 1996”.

473 Subsection 65(2)

Omit “Notwithstanding sections 59, 60, 63 and 64”, substitute “Despite section 60”.

474 Subsections 65(3) and (4)

Repeal the subsections.

475 Section 69

Repeal the section.

Australian Tourist Commission Act 1987

476 At the end of subsection 9(1)

Add:

477 Subsections 20(1), (2) and (3)

Repeal the subsections.

Note: The heading to section 20 is altered by adding at the end “by the Chairperson”.

478 Paragraph 21(2)(b)

Omit “20”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

479 After paragraph 21(2)(b)

Insert:

(ba) in the case of the Chairperson if the Chairperson is appointed on a full-time basis—contravenes section 20 without reasonable excuse.

480 Subsection 23(8)

Omit “subsection 20(2)”, substitute “section 21 of the Commonwealth Authorities and Companies Act 1996”.

481 At the end of section 29

Add:

(4) This section does not affect the application of section 28 of the Commonwealth Authorities and Companies Act 1996 in relation to the Commission.

482 At the end of section 45

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Commission under section 18 of the Commonwealth Authorities and Companies Act 1996.

483 Section 47

Repeal the section.

Australian Trade Commission Act 1985

484 Subsection 3(1) (definition of approved bank)

Repeal the definition.

485 At the end of subsection 7(2)

Add:

486 Paragraph 20(2)(d)

Omit “section 22”, substitute “section 21 of the Commonwealth Authorities and Companies Act 1996”.

487 Section 22

Repeal the section.

488 Paragraph 72(e)

Omit “63E of the Audit Act 1901 as that section applies to the Commission by virtue of sub-section 89(1) of this Act”, substitute “18 of the Commonwealth Authorities and Companies Act 1996”.

489 Sections 76 and 77

Repeal the sections.

490 Section 89

Repeal the section, substitute:

89 Extra matters to be included in annual report

The financial statements in an annual report on the Commission under section 9 of the Commonwealth Authorities and Companies Act 1996 must show separately the financial effect on the Commission’s operations of each direction that:

(a) was given to the Commission by the Minister under subsection 10(1) of this Act; and

(b) was in force for all or part of the year to which the report relates.

491 Subsection 92(1)

Repeal the subsection, substitute:

(1) The report of operations in the annual report on the Commission under section 9 of the Commonwealth Authorities and Companies Act 1996 must include information about the Commission’s operations under the Export Market Development Grants Act 1974, but not the Commission’s operations under the Export Expansion Grants Act 1978.

492 Section 93

Repeal the section.

Australian War Memorial Act 1980

493 At the end of subsection 4(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the Memorial. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

494 Paragraph 14(2)(c)

Omit “16”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

495 Section 16

Repeal the section.

496 Section 31

Repeal the section.

497 Subsection 32(4)

Omit “section 63J of the Audit Act 1901”, substitute “subsection 18(2) of the Commonwealth Authorities and Companies Act 1996”.

498 At the end of section 33

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Memorial under section 18 of the Commonwealth Authorities and Companies Act 1996.

499 Subsection 34(1)

Repeal the subsection.

500 Subsection 35(2)

Omit “34”, substitute “18 of the Commonwealth Authorities and Companies Act 1996”.

Note: The heading to section 35 is replaced by the heading “Contracts”.

501 Section 36

Repeal the section.

Australian Wine and Brandy Corporation Act 1980

502 At the end of subsection 12(1)

Add:

503 Paragraph 20(4)(b)

After “21”, insert “of the Commonwealth Authorities and Companies Act 1996”.

504 Subsections 21(1), (2) and (3)

Repeal the subsections.

505 Subsection 21(4)

Omit “A member who is a wine maker or a grape grower shall not be taken to have a pecuniary interest”, substitute “For the purposes of section 21 of the Commonwealth Authorities and Companies Act 1996, a member who is a winemaker or a grape grower is not taken to have a material personal interest”.

506 Subsection 31K(1)

After “section”, insert “and the Commonwealth Authorities and Companies Act 1996”.

507 Section 35

Omit “Subject to section 36, the”, substitute “The”.

508 At the end of section 35

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Corporation under section 19 of the Commonwealth Authorities and Companies Act 1996.

509 Section 36

Repeal the section.

510 Subsections 38(1), (2) and (3)

Repeal the subsections.

Note: The heading to section 38 is replaced by the heading “Extra matters to be included in annual report”.

511 Subsection 38(4)

Omit “the Corporation of its operations”, substitute “the members under section 9 of the Commonwealth Authorities and Companies Act 1996 on the operations of the Corporation”.

512 Section 38A

Repeal the section.

513 Section 41

Repeal the section.

Australian Wool Research and Promotion Organisation Act 1993

514 At the end of subsection 5(2)

Add:

515 Subsections 30(1) and (2)

Repeal the subsections.

516 Subsection 30(3)

Omit “A member”, substitute “For the purposes of section 21 of the Commonwealth Authorities and Companies Act 1996, a member”.

517 Subsection 30(3)

Omit “pecuniary”, substitute “material personal”.

518 Paragraph 33(2)(c)

Omit “30”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

519 Paragraph 42(4)(c)

Omit “30”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

520 Subsection 56(2)

Repeal the subsection, substitute:

(2) Subsection (1) does not prevent the investment under section 19 of the Commonwealth Authorities and Companies Act 1996 of money in the Fund that is not immediately required for the purposes of the Organisation.

521 At the end of section 59

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Organisation under section 19 of the Commonwealth Authorities and Companies Act 1996.

522 Section 63

Repeal the section.

523 Subsection 64(2)

Repeal the subsection.

524 Section 65

Repeal the section.

525 Part 9

Repeal the Part.

526 At the end of section 68

Add:

(5) This section does not affect the application of section 28 of the Commonwealth Authorities and Companies Act 1996 in relation to the Organisation.

527 Subsection 76(1)

Repeal the subsection.

528 Subsection 76(2)

After “report” insert “on the Organisation under section 9 of the Commonwealth Authorities and Companies Act 1996”.

529 Subsections 76(3) and (4)

Repeal the subsections.

Bankruptcy Act 1966

530 After section 18

Insert:

18AA Commonwealth Authorities and Companies Act 1996 does not apply to Official Trustee

The Official Trustee is not a Commonwealth authority for the purposes of the Commonwealth Authorities and Companies Act 1996.

531 Section 20A (definition of Equalization Account)

Repeal the definition.

532 Section 20A

Insert:

Equalization Reserve means the Common Investment Fund Equalization Reserve established by section 20G.

533 Section 20G

Repeal the section, substitute:

20G Common Investment Fund Equalization Reserve

(1) This subsection establishes a reserve called the Common Investment Fund Equalization Reserve.

(2) The Equalization Reserve is a component of the Reserved Money Fund.

534 Subsections 20H(1) and (2)

Omit “Equalization Account”, substitute “Consolidated Revenue Fund”.

Note: The heading to section 20H is altered by omitting “Account” and substituting “Reserve”.

535 After subsection 20H(2)

Insert:

(2A) Whenever a payment is made into the Consolidated Revenue Fund under subsection (1) or (2), an equal amount must be transferred to the Equalization Reserve from the Consolidated Revenue Fund.

536 Subsection 20H(3)

Omit “Account”, substitute “Reserve”.

537 Subsection 20H(4)

Omit “Equalization Account”, substitute “Equalization Reserve”.

538 Subsection 20H(4)

Omit “that Account” (wherever occurring), substitute “the Equalization Reserve”.

539 Subsection 20H(5)

Repeal the subsection, substitute:

(5) Whenever an amount required by subsection (3) to be paid out of the Equalization Reserve exceeds the amount standing to the credit of the Equalization Reserve, an amount equal to the excess must be transferred to the Equalization Reserve from the Consolidated Revenue Fund.

540 Section 139L (sub-subparagraph (b)(i)(A) of the definition of income)

Omit “Trust Account”, substitute Reserve”.

Broadcasting Services Act 1992

541 At the end of subsection 154(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the ABA. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

542 Paragraph 160(b)

Omit “161”, substitute “28 of the Commonwealth Authorities and Companies Act 1996”.

543 Section 161

Repeal the section.

544 Clause 6 of Schedule 3

Repeal the clause.

545 Paragraph 9(3)(e) of Schedule 3

Omit “6 or 7”, substitute “7 of this Schedule or section 21 of the Commonwealth Authorities and Companies Act 1996”.

546 Clauses 13 and 14 of Schedule 3

Repeal the clauses.

547 Subclause 16(1) of Schedule 3

Omit “Subject to subclause (2), money”, substitute “Money”.

548 Subclause 16(2) of Schedule 3

Repeal the subclause, substitute:

(2) Subclause (1) does not prevent investment of surplus money of the ABA under section 18 of the Commonwealth Authorities and Companies Act 1996.

Child Support (Registration and Collection) Act 1988

549 Subsection 4(1) (definition of Trust Account)

Repeal the definition.

550 Subsection 4(1)

Insert:

Reserve means the Child Support Reserve established by section 73.

551 Paragraph 53(c)

Omit “appropriated out of the Consolidated Revenue Fund”, substitute “required to be transferred to the Reserve”.

552 Division 1 of Part VI (heading)

Omit “Trust Account”, substitute “Child Support Reserve”.

553 Subsection 73(1)

Omit “An account”, substitute “A reserve”.

554 Subsection 73(1)

Omit “Trust Account”, substitute “Reserve”.

555 Subsection 73(2)

Repeal the subsection, substitute:

(2) The Reserve is a component of the Reserved Money Fund.

556 Subsection 74(1)

Omit “There shall be paid into the Trust Account”, substitute “The following amounts must be transferred to the Reserve out of the Consolidated Revenue Fund”.

Note: The heading to section 74 is altered by omitting “Trust Account” and substituting “Reserve”.

557 Paragraphs 74(1)(a), (b) and (c)

Before “amounts received”, insert “amounts equal to”.

558 Paragraph 74(1)(c)

Omit “and”.

559 Paragraph 74(1)(d)

Repeal the paragraph.

560 Subsection 74(2)

Omit “and pay that portion into the Trust Account”, substitute “and only that portion is to be transferred to the Reserve under subsection (1)”.

561 Section 75

Omit “Trust Account” (wherever occurring), substitute “Reserve”.

Note: The heading to section 75 is altered by omitting “Trust Account” and substituting “Reserve”.

562 Paragraph 75(d)

Omit “an appropriation has previously been required from that Fund”, substitute “amounts have been transferred from the Consolidated Revenue Fund”.

563 Section 77

Omit “is payable into the Trust Account out of the Consolidated Revenue Fund, which is appropriated accordingly”, substitute “must be transferred to the Reserve from the Consolidated Revenue Fund”.

564 Paragraph 78(3)(d)

Civil Aviation Act 1988

565 At the end of subsection 8(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the CASA. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

Coal Industry Act 1946

566 After section 6

Insert:

6A Commonwealth Authorities and Companies Act 1996 does not apply to Board

The Board is not a Commonwealth authority for the purposes of the Commonwealth Authorities and Companies Act 1996.

567 Section 28G

Repeal the section.

Coal Mining Industry (Long Service Leave Funding) Act 1992

568 At the end of subsection 6(2)

Add:

569 Subsection 20(3)

Omit “would, for the purposes of section 22, be taken to have an interest”, substitute “has a material personal interest”.

570 Section 22

Repeal the section.

571 Paragraph 28(2)(c)

Omit “22 or 27”, substitute “27 of this Act or section 21 of the Commonwealth Authorities and Companies Act 1996”.

572 Section 30

Repeal the section.

573 Subsection 39(1)

Repeal the subsection.

574 Subsection 39(2)

Omit “Section 63E of the Audit Act 1901”, substitute “Subsection 18(3) of the Commonwealth Authorities and Companies Act 1996”.

Note: The heading to section 39 is altered by omitting “Division 2 of Part XI of the Audit Act” and substituting “the Commonwealth Authorities and Companies Act”.

575 Subsection 39(3)

Repeal the subsection.

576 Subsections 39(4) and (5)

Omit “Division 2 of Part XI of the Audit Act 1901 as that Division”, substitute “the Commonwealth Authorities and Companies Act 1996 as that Act”.

Commonwealth Inscribed Stock Act 1911

577 Section 51F

Repeal the section.

578 Section 53

Repeal the section.

Commonwealth Places (Application of Laws) Act 1970

579 Section 21

Repeal “Audit Act 1901-1969”, substitute “Financial Management and Accountability Act 1996”.

Note: The heading to section 21 is altered by omitting “Audit” and substituting “Financial Management and Accountability”.

Crimes Act 1914

580 Section 3 (definition of Trust Fund)

Repeal the definition.

581 Paragraph 9A(c)

Omit “Trust Fund”, substitute “Confiscated Assets Reserve”.

Criminology Research Act 1971

582 Section 4 (definition of approved bank)

Repeal the definition.

583 At the end of subsection 5(2)

Add:

584 Sections 28A and 30

Repeal the sections.

585 At the end of section 31

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Institute under section 18 of the Commonwealth Authorities and Companies Act 1996.

586 Section 32

Repeal the section.

587 Subsection 32A(1)

Omit “opened and maintained pursuant to section 30 that does not, or accounts referred to in that section that do not,”, substitute “maintained under section 18 of the Commonwealth Authorities and Companies Act 1996 that does not”.

588 Subsection 32A(2)

After “Division”, insert “or any provision of the Commonwealth Authorities and Companies Act 1996”.

589 Subsections 32A(3), (4) and (5)

Repeal the subsections.

590 Section 33

Repeal the section.

591 At the end of subsection 34(2)

Add:

592 Section 42

Repeal the section.

593 Section 43

Repeal the section, substitute:

43 Copy of annual report also to be given to State and Northern Territory Ministers and Auditors-General

As soon as practicable after the members of the Council give the Attorney-General the annual report on the Council for a financial year under section 9 of the Commonwealth Authorities and Companies Act 1996, the members must give a copy of the report to:

(a) the appropriate Minister of each State and of the Northern Territory; and

(b) the Auditor-General of each State and of the Northern Territory.

594 At the end of section 44

Add:

(2) The Commonwealth Authorities and Companies Act 1996 applies to the Fund as though the Fund were money of the Council.

595 Section 45

Repeal the section.

596 At the end of section 47

Add:

(3) Surplus money of the Fund may be invested, in the name of the Council, under section 18 of the Commonwealth Authorities and Companies Act 1996, unless subsection (2) applies to the money and the conditions referred to in that subsection specify the manner in which the money is to be or may be invested. In that case, the money may only be invested in accordance with those conditions.

597 Sections 48 and 49

Repeal the sections.

Customs Act 1901

598 Subsection 208DA(1) (definition of Trust Fund)

Repeal the definition.

599 Subsection 208DA(3)

Omit “Trust Fund” (wherever occurring), substitute “Confiscated Assets Reserve”.

600 Subsection 243A(1) (definition of Trust Fund)

Repeal the definition.

601 Subsections 243G(6) and (7)

Omit “Trust Fund” (wherever occurring), substitute “Confiscated Assets Reserve”.

Dairy Produce Act 1986

602 Subsection 3(1) (definitions of approved bank and Corporation auditor)

Repeal the definitions.

603 Subsection 3(1)

Insert:

annual report means an annual report on the Corporation under section 9 of the Commonwealth Authorities and Companies Act 1996.

604 At the end of subsection 5(2)

Add:

605 Paragraph 12(2)(f)

Omit “Corporation auditor” (wherever occurring), substitute “Auditor-General”.

606 After subsection 12(9)

Insert:

(9A) Asia Dairy Industries (H.K.) Limited is not to be taken to be a subsidiary of the Corporation for the purposes of section 29 of the Commonwealth Authorities and Companies Act 1996.

607 Section 16

Omit “laid before each House of the Parliament under subsection 123(4)”, substitute “tabled in each House of the Parliament under section 9 of the Commonwealth Authorities and Companies Act 1996”.

608 Section 35

Repeal the section, substitute:

35 Situations that do not amount to interests requiring disclosure

For the purposes of section 21 of the Commonwealth Authorities and Companies Act 1996, a member is not taken to have a material personal interest in a matter being considered or about to be considered by the Corporation merely because the member is a dairy farmer or manufacturer of dairy produce.

609 Paragraph 38(3)(c)

Omit “35”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

610 At the end of section 40

Add:

(3) A member who has a material personal interest in a matter being considered or about to be considered by the Corporation under this section, being an interest that could conflict with the proper performance of the member’s functions in relation to the consideration of the matter, must not sign a document under this section.

611 At the end of section 46

Add:

(2) Section 21 of the Commonwealth Authorities and Companies Act 1996 applies in relation to the Selection Committee as if the Selection Committee were a Commonwealth authority (as defined in that Act).

612 Paragraph 47(4)(d)

Omit “35”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

613 Sections 72 and 73

Repeal the sections.

614 Subsections 74(2) and (3)

Repeal the subsections, substitute:

(2) Money of the Corporation not immediately required for the purpose of the Corporation may be lent to a relevant fund for the purpose of meeting a temporary deficit in the fund.

615 At the end of section 74

Add:

(3) This section does not prevent investment of surplus money of the Corporation under section 19 of the Commonwealth Authorities and Companies Act 1996.

616 Subsection 80(4)

Omit “section 73”, substitute “subsection 19(2) of the Commonwealth Authorities and Companies Act 1996”.

617 Sections 81 and 82

Repeal the sections.

618 Section 85

Repeal the section, substitute:

85 Investment of money standing to credit of a relevant fund

Money standing to the credit of a relevant fund may be invested:

(a) by way of a loan to another relevant fund for the purposes of meeting a temporary deficit in that fund; or

(b) under section 19 of the Commonwealth Authorities and Companies Act 1996.

619 At the end of section 86

Add:

(3) The Commonwealth Authorities and Companies Act 1996 applies to the Fund as though the Fund were money of the Corporation.

620 Paragraphs 87(c) and 88(1)(j)

Omit “paragraph 74(2)(b)”, substitute “subsection 74(2)”.

621 At the end of section 89

Add:

(3) The Commonwealth Authorities and Companies Act 1996 applies to the Fund as though the Fund were money of the Corporation.

622 Paragraphs 90(2)(d) and 91(1)(d)

Omit “paragraph 74(2)(b)”, substitute “subsection 74(2)”.

623 After subsection 92(2)

Insert:

(3) The Commonwealth Authorities and Companies Act 1996 applies to the Fund as though the Fund were money of the Corporation.

624 Paragraph 101(g)

Omit “paragraph 74(2)(b)”, substitute “subsection 74(2)”.

625 At the end of section 104

Add:

(3) The Commonwealth Authorities and Companies Act 1996 applies to the Fund as though the Fund were money of the Corporation.

626 Paragraph 106(h)

Omit “paragraph 74(2)(b)”, substitute “subsection 74(2)”.

627 Subsection 108G(3)

Omit “section 73”, substitute “subsection 19(2) of the Commonwealth Authorities and Companies Act 1996”.

628 Section 122

Repeal the section.

629 Subsections 123(1) and (2)

Repeal the subsections.

630 Subsection 123(3)

Omit “Without limiting, by implication, the generality of subsection (1), the Corporation shall include in each annual report referred to in that subsection:”, substitute “The annual report on the Corporation under section 9 of the Commonwealth Authorities and Companies Act 1996 must also include:”.

Note: The heading to section 123 is replaced by the heading “Extra matters to be included in annual report”.

631 Subsection 123(4)

Repeal the subsection.

632 Section 124

Omit “The”, substitute “Subject to the provisions of the Commonwealth Authorities and Companies Act 1996, the”.

Defence Housing Authority Act 1987

633 Subsection 3(1) (definitions of authorised auditor and financial statements)

Repeal the definitions.

634 At the end of section 8

Add:

(9) Section 29 of the Commonwealth Authorities and Companies Act 1996 does not apply to the Authority.

635 At the end of subsection 11(1)

Add:

Note: Subject to subsection 8(9), the Commonwealth Authorities and Companies Act 1996 applies to the Authority. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

636 Subsections 20(1), (2) and (3)

Repeal the subsections.

637 Subsection 20(4)

Omit “A member shall not be taken to have a pecuniary”, substitute “For the purposes of section 21 of the Commonwealth Authorities and Companies Act 1996, a member is not taken to have a material personal”.

638 Paragraph 21(2)(b)

Omit “20”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

639 Subsection 26(6)

Repeal the subsection, substitute:

(6) Section 21 of the Commonwealth Authorities and Companies Act 1996 applies to members of a committee as if:

(a) the committee were a Commonwealth authority; and

(b) the members of the committee were directors of a Commonwealth authority; and

(c) a member of the committee did not have a material personal interest in a matter only because the member is the tenant of a house rented from the Authority.

640 Section 27

Repeal the section.

641 Subsection 28(1)

Repeal the subsection.

Note: The heading to section 28 is altered by omitting “plans” and substituting “targets to be included in corporate plan”.

642 Subsection 28(2)

Omit “, the Authority shall”, substitute “to be included in the Authority’s corporate plan under section 17 of the Commonwealth Authorities and Companies Act 1996, the members must”.

643 Subsection 28(3)

Repeal the subsection.

644 Section 29

Repeal the section.

645 Sections 43 and 44

Repeal the sections.

Defence Service Homes Act 1918

646 Subsection 40(1)

Repeal the subsection, substitute:

(1) This subsection establishes a reserve called the Defence Service Homes Insurance Reserve.

(1A) The Reserve is a component of the Reserved Money Fund.

Note: The heading to section 40 is altered by omitting “Trust Account” and substituting “Reserve”.

647 Subsection 40(2)

Omit “To that Trust Account there must be credited”, substitute “There must be transferred to the Reserve from the Consolidated Revenue Fund amounts equal to”.

648 Subsection 40(3)

Omit “that Trust Account”, substitute “the Reserve”.

649 Subsection 40A(1)

Omit “there shall be paid to the Defence Service Homes Insurance Trust Account”, substitute “there must be transferred to the Defence Service Homes Insurance Reserve from the Consolidated Revenue Fund”.

Note: The heading to section 40A is altered by omitting “Trust Account” and substituting “Reserve”.

650 Subsection 40A(1)

Omit “that Account”, substitute “the Reserve”.

651 Subsection 40A(2)

Repeal the subsection, substitute:

(2) If interest is received by the Commonwealth from the investment of money from the Defence Service Homes Insurance Reserve, an amount equal to the interest must be transferred to the Reserve from the Consolidated Revenue Fund.

652 Subsection 40A(3)

Repeal the subsection.

Dried Sultana Production Underwriting Act 1982

653 Subsection 3(1) (definition of Audit Act)

Repeal the definition.

654 Subsection 12(4)

Omit “Audit Act”, substitute “Financial Management and Accountability Act 1996”.

655 Subsection 13(2)

Omit “Audit Act”, substitute “Financial Management and Accountability Act 1996”.

Dried Vine Fruits Equalization Act 1978

656 Subsection 9(1)

Omit “the Corporation”, substitute “the Australian Dried Fruits Board”.

657 Paragraph 9(1)(a)

Omit “an approved bank”, substitute “a bank”.

658 Subsection 9(2)

Repeal the subsection, substitute:

(2) In this section:

bank means a person who carries on the business of banking, either in Australia or outside Australia.

Dried Vine Fruits Stabilization Legislation Repeal Act 1981

659 Subsection 8(4)

Omit “Audit Act 1901”, substitute “Financial Management and Accountability Act 1996”.

660 Subsection 9(2)

Omit “Audit Act 1901”, substitute “Financial Management and Accountability Act 1996”.

Employment Services Act 1994

661 At the end of subsection 68(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to ESRA. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

662 Sections 72 and 73

Repeal the sections.

663 Subsections 85(1) and (2)

Repeal the subsections.

664 Subsection 85(3)

Omit “direct or indirect pecuniary interests”, substitute “material personal interests”.

Note: The heading to section 85 is replaced by the heading “Minister to be notified of material personal interests”.

665 Paragraph 87(2)(e)

Omit “section 85 (which deals with conflict of interest)”, substitute “section 85 of this Act or section 21 of the Commonwealth Authorities and Companies Act 1996 (these sections deal with disclosure of interests)”.

666 Paragraph 89(3)(a)

Omit “85”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

667 Section 105

Repeal the section.

668 Paragraph 106(c)

Omit “section 108”, substitute “subsection 18(3) of the Commonwealth Authorities and Companies Act 1996”.

669 Section 107

Repeal the section, substitute:

107 Extra matters to be included in annual report

The annual report on ESRA under section 9 of the Commonwealth Authorities and Companies Act 1996 must also include:

(a) particulars of any directions given by the Minister under section 71 during the financial year; and

(b) such additional information (if any) as is specified in the regulations.

670 Section 108

Repeal the section.

Endangered Species Protection Act 1992

671 Section 49

Omit “prepared under section 52 of the National Parks and Wildlife Conservation Act 1975”, substitute “the Director prepares under section 9 of the Commonwealth Authorities and Companies Act 1996”.

Excise Act 1901

672 Subsection 165A(11)

Omit “section 70C of the Audit Act 1901”, substitute “section 34 of the Financial Management and Accountability Act 1996”.

Export Finance and Insurance Corporation Act 1991

673 At the end of subsection 6(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to EFIC. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

674 At the end of subsection 11(2)

Add:

Note: Subsection 19(3) of the Commonwealth Authorities and Companies Act 1996 also gives EFIC the power to invest its surplus money.

675 Paragraph 42(3)(c)

Omit “45”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

676 Section 45

Repeal the section.

677 Subsection 46(3)

Omit “direct or indirect pecuniary”, substitute “material personal”.

678 Section 48

Repeal the section.

679 Subsection 49(1)

Repeal the subsection.

680 Subsection 49(2)

After “financial target” insert “to be included in a corporate plan”.

681 At the end of subsection 49(2)

Add:

Note: Section 17 of the Commonwealth Authorities and Companies Act 1996 requires the members to prepare corporate plans for EFIC.

682 Sections 50 and 51

Repeal the sections.

683 Section 57

Repeal the section.

684 Subsection 70(1)

Repeal the subsection.

Note: The heading to section 70 is replaced by the heading “Extra matters to be included in annual report”.

685 Subsection 70(2)

Omit “EFIC is required, in the financial statements prepared in respect of each financial year for the purpose of section 63H of the Audit Act 1901 (as it applies by virtue of subsection (1)), to”, substitute “In each report on EFIC under section 9 of the Commonwealth Authorities and Companies Act 1996, the members must”.

686 Subsection 85(1)

Repeal the subsection.

687 Section 86

Repeal the section.

Family Law Act 1975

688 Sections 38S, 38T and 38U

Repeal the sections, substitute:

38S Annual report

(1) As soon as practicable after 30 June in each year, the Chief Judge must prepare and give to the Attorney-General a report of the management of the administrative affairs of the Court during the year.

(2) The report must include:

(a) the financial statements required by section 49 of the Financial Management and Accountability Act 1996; and

(b) an audit report on those statements under section 57 of the Financial Management and Accountability Act 1996.

(3) The Attorney-General must cause a copy of the report to be tabled in each House of the Parliament as soon as practicable.

689 Subsection 114B(4)

Omit “by the Institute under section 63M of the Audit Act 1901, as that section applies to the Institute by virtue of section 114N of this Act, shall”, substitute “on the Institute under section 9 of the Commonwealth Authorities and Companies Act 1996 must”.

690 At the end of subsection 114BA(1)

Add:

691 Paragraphs 114J(2)(a) and (c)

Add at the end “or”.

692 After paragraph 114J(2)(c)

Insert:

(d) without reasonable excuse contravenes section 21 of the Commonwealth Authorities and Companies Act 1996;”.

693 Section 114MB

Repeal the section.

694 At the end of section 114MD

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Institute under section 18 of the Commonwealth Authorities and Companies Act 1996.

695 Section 114ME

Repeal the section.

696 Section 114N

Repeal the section.

Federal Airports Corporation Act 1986

697 Subsection 3(1) (definition of Corporate plan)

Repeal the definition.

698 Subsection 3(1) (definition of financial plan)

Repeal the definition.

699 Subsection 3(1)

Insert:

annual report means an annual report on the Corporation under section 9 of the Commonwealth Authorities and Companies Act 1996.

700 Subsection 3(1)

Insert:

corporate plan means a corporate plan for the Corporation under section 17 of the Commonwealth Authorities and Companies Act 1996.

701 At the end of subsection 5(2)

Add:

702 Sections 10 and 11

Repeal the sections.

703 Paragraph 19(2)(d)

Omit “20”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

704 Subsection 19(2C)

Repeal the subsection, substitute:

(2C) If the Minister is of the opinion that:

(a) the Board has failed to comply with section 42B; or

(b) the members have failed to comply with:

(i) subsection 13(2), 15(1) or 17(5) of the Commonwealth Authorities and Companies Act 1996; or

(ii) paragraph 16(1)(a) or (b) or the Commonwealth Authorities and Companies Act 1996;

the Minister may terminate the appointment of all members (other than the Chief Executive Officer) or specified members (other than the Chief Executive Officer).

705 Section 20

Repeal the section.

706 Subsection 27A(1)

Omit “financial plan”, substitute “corporate plan”.

707 Sections 37 and 38

Repeal the sections.

708 Subsection 39(1)

Omit “financial plan under paragraph 38(3)(b)”, substitute “corporate plan”.

709 Subsection 39(2)

Repeal the subsection.

710 Subsection 40(1)

Repeal the subsection, substitute:

(1) Without limiting the generality of the Minister’s powers under subsection 41(1A) or (2), the Minister may direct the Board to vary the Corporation’s corporate plan in respect of financial targets or non-financial performance measures or both.

Note: The heading to section 40 is altered by omitting “financial” and substituting “corporate”.

711 Section 40A

Repeal the section.

712 At the end of section 41

Add:

Note: This section does not affect the application of the Commonwealth Authorities and Companies Act 1996 to the Corporation.

713 Subsection 42A(3)

Omit “Corporate”, substitute “corporate”.

714 Sections 54, 54A, 54B, 54C and 55

Repeal the sections.

715 Section 65

Repeal the section, substitute:

65 Extra matters to be included in annual report

The Corporation’s annual report must also include:

(a) an evaluation of the Corporation’s overall performance against:

(i) the objectives, including operational targets, set out in its corporate plan; and

(ii) the financial targets and non-financial performance measures set out in its corporate plan; and

(b) an assessment of the adverse effect, if any, that meeting the non-commercial commitments imposed on the Corporation has had on the Corporation’s profitability during the financial year; and

(d) a summary of:

(i) income earned by the Corporation from each Federal airport development site; and

(ii) the expenditure of money by the Corporation in relation to each Federal airport development site; and

(iii) any other financial transactions by the Corporation in relation to each Federal airport development site; and

(e) details of the progress in the establishment of an airport at each Federal airport development site.

Federal Court of Australia Act 1976

716 Sections 18S, 18T and 18U

Repeal the sections, substitute

18S Annual report

(2) The report must include:

(a) the financial statements required by section 49 of the Financial Management and Accountability Act 1996; and

(b) an audit report on those statements under section 57 of the Financial Management and Accountability Act 1996.

(3) The Attorney-General must cause a copy of the report to be tabled in each House of the Parliament as soon as practicable.

Financial Agreement Act 1994

717 Subsection 6(2)

Repeal the subsection, substitute:

(2) The account is a component of the Reserved Money Fund.

718 At the end of section 6

Add:

(4) There must be transferred to the account from the Consolidated Revenue Fund amounts equal to all money received by the Commonwealth under the 1994 Financial Agreement.

Fisheries Administration Act 1991

719 Paragraph 7(k)

Omit “section 63H of the Audit Act 1901, and in this Part,”, substitute “this Part”.

720 At the end of section 7

Add:

Note: Section 9 of the Commonwealth Authorities and Companies Act 1996 requires the members of the Authority to prepare an annual report on the Authority.

721 At the end of subsection 10(1)

Add:

722 Section 20

Repeal the section.

723 Paragraph 21(2)(b)

Omit “20”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

724 Section 64

Omit “to 21 (inclusive) and section”, substitute “, 19, 21 and”.

725 After section 64

Insert:

64A Disclosure of interests of members of management advisory committees

(1) If:

(a) a member of a management advisory committee has a direct or indirect pecuniary interest in a matter being considered, or about to be considered, by the committee; and

(b) the interest could conflict with the proper performance of the member’s duties in relation to the consideration of the matter;

the member must disclose the nature of the interest at a meeting of the committee, as soon as practicable after the relevant facts have come to the member’s knowledge.

(2) A disclosure must be recorded in the minutes of the meeting.

726 Subsection 88(1)

Repeal the subsection.

Note: The heading to section 88 is replaced by the heading “Extra matters to be included in annual report”.

727 Subsection 88(2)

Omit “Without limiting the generality of subsection 63H(1) of the Audit Act 1901 in its application in relation to the Authority, the Authority must include in each report referred to in that subsection”, substitute “Each annual report on the Authority prepared by the directors under section 9 of the Commonwealth Authorities and Companies Act 1996 must include”.

728 Subsection 88(2) (note)

Repeal the note.

Forestry and Timber Bureau Act 1930

729 Section 5

Repeal the section, substitute:

5 Forestry Reserve

(1) This subsection establishes a reserve called the Forestry Reserve.

(1A) The Reserve is a component of the Reserved Money Fund.

(2) There must be transferred to the Reserve from the Consolidated Revenue Fund:

(a) amounts equal to donations for the furtherance of forestry that are received by the Director-General or are otherwise received by or on behalf of the Commonwealth; and

(b) money appropriated by the Parliament for the purposes of the Reserve or payable to the Reserve under any other law.

(3) Money in the Reserve may be applied, in a manner approved by the Minister, for the furtherance of forestry.

(4) If interest is received by the Commonwealth from the investment of money from the Reserve, an amount equal to the interest must be transferred to the Reserve from the Consolidated Revenue Fund.

Great Barrier Reef Marine Park Act 1975

730 Subsection 7(3)

Omit “Authority shall include in each report prepared under section 63M of the Audit Act 1901”, substitute “members must include in each report on the Authority under section 9 of the Commonwealth Authorities and Companies Act 1996”.

731 At the end of subsection 9(1)

Add:

732 Paragraph 16(2)(e)

Omit “section 16A”, substitute “section 21 of the Commonwealth Authorities and Companies Act 1996”.

733 Subsections 16A(1) and (2)

Repeal the subsections.

Note: The heading to section 16A is altered by omitting “members” and substituting “Chairman”.

734 Subsection 16A(4)

Repeal the subsection.

735 At the end of section 53

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Authority under section 18 of the Commonwealth Authorities and Companies Act 1996.

736 Sections 53A and 54

Repeal the sections.

737 Section 55

Repeal the section.

738 Subsection 56(2)

Omit “subsection 53A(2)”, substitute “section 18 of the Commonwealth Authorities and Companies Act 1996”.

739 Subsection 61A(5)

Omit “Authority shall include in each report prepared under section 63M of the Audit Act 1901”, substitute “members must include in each annual report on the Authority under section 9 of the Commonwealth Authorities and Companies Act 1996”.

Health Insurance Commission Act 1973

740 Section 8G

After “this Act”, insert “and the Commonwealth Authorities and Companies Act 1996”.

741 At the end of subsection 9(1)

Add:

Note: Subject to section 9A, the Commonwealth Authorities and Companies Act 1996 applies to the Commission. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability and conduct of officers.

742 After section 9

Insert:

9A Modification of the Commonwealth Authorities and Companies Act 1996

Sections 14, 18 and 19 of the Commonwealth Authorities and Companies Act 1996 do not apply in relation to the Commission, except as provided in subsections 36(6), (6A) and (6D).

743 Section 15

Repeal the section.

744 Paragraph 17(2)(b)

Omit “15”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

745 Paragraph 26(2)(b)

Omit “15”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

746 Subsection 34(1)

Omit all the words from and including “prepare estimates” to and including “medicare functions”, substitute “prepare budget estimates, in such form as the Minister directs, relating to the Commission’s performance of its medicare functions”.

747 Subsection 34AAA(1)

Omit all the words from and including “prepare estimates” to and including “child care cash rebate functions”, substitute “prepare budget estimates, in such form as the Minister directs, relating to the Commission’s performance of its child care cash rebate functions”.

748 Subsection 35(1)

Omit “an approved bank or banks”, substitute “a bank or banks”.

749 Subsection 35(5)

Repeal the subsection, substitute:

(5) In this section:

bank means a person who carries on the business of banking, either in Australia or outside Australia.

750 Paragraphs 36(6)

Omit all the words from and including “Commission:” to and including “Treasurer;”, substitute “Commission in any manner specified in subsection 18(3) of the Commonwealth Authorities and Companies Act 1996,”.

751 Subsection 36(6A)

Omit all the words from and including “invested:” to and including “body thinks fit;”, substitute “invested in any manner specified in subsection 19(3) of the Commonwealth Authorities and Companies Act 1996,”.

752 After subsection 36(6B):

Insert:

(6BA) Powers to invest money under subsection (6A) may be exercised:

(a) by the Commission; or

(b) by a person or body who or that is:

(i) approved by the Commission; and

(ii) in the business of investment management; and

(iii) acting in accordance with any directions given by the Commission.

753 Subsection 36(6C)

Omit “and (6B)”, substitute “,(6B) and (6BA)”.

754 Subsection 36(6D)

755 Sections 40 and 41

Repeal the sections.

756 Section 42

Repeal the section, substitute:

42 Extra matters to be included in annual report

The annual report on the Commission under section 9 of the Commonwealth Authorities and Companies Act 1996 must also include:

(a) the principles that were applicable in accordance with subsections 34B(2), 34C(1) and 36(6B) during the financial year; and

(b) a statement as to whether those principles differed from the principles that were applicable in the preceding financial year, and, if they differed, as to the manner in which they differed; and

(i) signed instruments made under section 8M; and

(ii) notices in writing given under section 8P; and

(iii) notices in writing given to individual patients under section 8P; and

(iv) premises entered under section 8U; and

(v) occasions when powers were used under section 8V; and

(vi) search warrants issued under section 8Y; and

(vii) search warrants issued by telephone or other electronic means under section 8Z; and

(viii) patients advised in writing under section 8ZN.

757 Section 43

Repeal the section.

Hearing Services Act 1991

758 At the end of subsection 7(2)

Add:

759 Section 10

Repeal the section.

760 At the end of section 12

Add:

(4) This section does not affect the application of section 28 of the Commonwealth Authorities and Companies Act 1996 in relation to the Authority.

761 Subsection 22(3)

Omit “would, for the purposes of section 24, be taken to have an interest”, substitute “has a material personal interest”.

762 Section 24

Repeal the section.

763 Paragraph 31(2)(b)

Omit “or section 24”, substitute “of this Act or section 21 of the Commonwealth Authorities and Companies Act 1996”.

764 Section 39

Repeal the section.

765 Paragraph 46(2)(b)

Omit “or section 24”, substitute “of this Act or section 21 of the Commonwealth Authorities and Companies Act 1996”.

766 Subsection 52(2)

Omit “Subject to subsection (3), the”, substitute “The”.

767 Subsections 52(3), (4) and (5)

Repeal the subsections, substitute:

(3) Subsection (2) does not prevent investment of surplus money of the Authority under section 18 of the Commonwealth Authorities and Companies Act 1996.

768 Section 59

Repeal the section.

769 Paragraph 60(1)(b)

Omit “63D(1) of the Audit Act 1901”, substitute “18(2) of the Commonwealth Authorities and Companies Act 1996”.

770 Subsection 60(2)

Repeal the subsection.

771 Section 61

Repeal the section.

772 Section 71

Repeal the section.

Higher Education Funding Act 1988

773 Subsection 34(1) (definition of Fund)

Repeal the definition.

774 Subsection 34(1)

Insert:

Reserve means the Higher Education (HECS) Reserve established by section 59.

775 Part 4.3 (heading)

Repeal the heading, substitute:

Part 4.3—Higher Education (HECS) Reserve

776 Subsection 59(1)

Omit “fund”, substitute “reserve”.

Note: The heading to section 59 is altered by omitting “Fund” and substituting “Reserve”.

777 Subsection 59(1)

Omit “Trust Fund”, substitute “(HECS) Reserve”.

778 Subsection 59(2)

Repeal the subsection, substitute:

(2) The Reserve is a component of the Reserved Money Fund.

779 Subsection 60(1)

Omit “There shall be paid into the Fund”, substitute “There must be transferred to the Reserve from the Consolidated Revenue Fund amounts equal to”.

Note: The heading to section 60 is altered by omitting “Fund” and substituting “Reserve”.

780 Paragraph 60(1)(b)

Omit “amounts equal to”.

781 Paragraphs 60(1)(c) and (d)

Omit “Fund”, substitute “Reserve”.

782 Paragraph 60(1)(e)

Omit “in the Fund”, substitute “from the Fund”.

783 Subsection 60(2)

Repeal the subsection.

784 Subsection 61(1)

Omit “Fund”, substitute “Reserve”.

Note: The heading to section 61 is altered by omitting “Fund” and substituting “Reserve”.

785 Subsection 117(2)

Omit “section 49 or 50 of the Audit Act 1901”, substitute “section 54 or 55 of the Financial Management and Accountability Act 1996”.

Horticultural Research and Development Corporation Act 1987

786 Subsection 7(1)

Omit “Subject to subsection (2), the”, substitute “The”.

787 Subsection 7(2)

Repeal the subsection.

788 At the end of subsection 11(1)

Add:

789 Section 22

Repeal the section.

790 Paragraph 23(2)(b)

Omit “22”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

791 Subsection 29(1)

Omit “Without limiting the matters that the Corporation may include in its annual report for a period, the Corporation shall include in the report”, substitute “The members of the Corporation must include in a report on the Corporation prepared under section 9 of the Commonwealth Authorities and Companies Act 1996”.

792 Subsection 29(2)

Repeal the subsection.

793 At the end of section 47

Add:

(3) This section does not prevent investment of surplus money of the Corporation under section 18 of the Commonwealth Authorities and Companies Act 1996.

794 Section 52

Repeal the section.

795 Subsection 54(5)

Repeal the subsection, substitute:

(5) Section 21 of the Commonwealth Authorities and Companies Act 1996 applies to a member of a committee as if the committee were a Commonwealth authority and the member were a director of the authority.

Housing Loans Insurance Act 1965

796 Subsection 4(1) (definition of approved bank)

Repeal the definition.

797 At the end of subsection 6(2)

Add:

798 Section 10

Repeal the section.

799 Paragraph 11(2)(b)

Omit “10”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

800 Section 32

Repeal the section.

801 Section 33

Omit “Subject to section 34, the”, substitute “The”.

802 At the end of section 33

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Corporation under section 19 of the Commonwealth Authorities and Companies Act 1996.

803 Section 34

Repeal the section.

804 Subsection 36(1)

Repeal the subsection.

Note: The heading to section 36 is replaced by the heading “Special account for business under subsection 17(3C) directions”.

805 Section 37

Repeal the section.

806 Section 37A

Omit “17A, 19 or 34”, substitute “17A or 19 of this Act, or subsection 19(3) of the Commonwealth Authorities and Companies Act 1996”.

807 Section 37B

Repeal the section.

808 Section 39

Repeal the section, substitute:

39 Extra matters to be included in annual report

The annual report on the Corporation under section 9 of the Commonwealth Authorities and Companies Act 1996 must also set out:

(a) all directions given to the Corporation by the Minister under subsection 17(3C), section 20 or subsection 31A(4) or 31C(1) during the year to which the report relates; and

(b) all determinations made by the Minister under subsection 25(4) or 31B(1) or (2) during the year to which the report relates.

809 Section 40

Repeal the section, substitute:

40 A Minister cannot require reports etc. about affairs of a particular person

A Minister cannot, under paragraph 16(1)(b) or (c) of the Commonwealth Authorities and Companies Act 1996, require the members of the Corporation to give that Minister a report, document or information relating to the affairs of a particular person.

Housing Loans Insurance Corporation (Transfer of Assets and Abolition) Act 1996

810 Subsection 40(1)

After “section 39 of that Act”, insert “, or section 9 of the Commonwealth Authorities and Companies Act 1996,”.

811 Subsection 40(2)

Omit “section 39 of the Housing Loans Insurance Act, as it continues in force by subsection (1) of this section,”, substitute “the section that applies to the period of 12 months ending on that 30 June (being either section 39 of the Housing Loans Insurance Act or section 9 of the Commonwealth Authorities and Companies Act 1996)”.

Income Tax Assessment Act 1936

812 Subsection 128U(1) (definition of mining payment)

Omit “Trust Account” (wherever occurring), substitute “Aboriginals Benefit Reserve”.

813 Subsection 128U(1) (definition of Trust Account)

Repeal the definition.

814 Subsection 128U(1)

Insert:

Aboriginals Benefit Reserve means the Aboriginals Benefit Reserve established by section 62 of the Aboriginal Land Rights (Northern Territory) Act 1976.

815 Subsection 159ZR(1) (definition of eligible income)

After “section 34A of the Audit Act 1901”, insert “or section 33 of the Financial Management and Accountability Act 1996”.

Interstate Road Transport Act 1985

816 Subsection 3(1) (definition of Fund)

Repeal the definition.

817 Subsection 3(1)

Insert:

Reserve means the Interstate Road Transport Reserve established by section 21.

818 Part IV (heading)

Repeal the heading, substitute:

Part IV—Interstate Road Transport Reserve

819 Section 21

Repeal the section, substitute:

21 Interstate Road Transport Reserve

(1) This subsection establishes a reserve called the Interstate Road Transport Reserve.

(2) The Reserve is a component of the Reserved Money Fund.

(3) If interest is received by the Commonwealth from the investment of money from the Reserve, an amount equal to the interest must be transferred to the Reserve from the Consolidated Revenue Fund.

820 Subsection 22(1)

Omit “Fund”, substitute “Reserve”.

Note: The heading to section 22 is altered by omitting “Fund” and substituting “Reserve”.

821 Subsection 22(1)

Omit “which is appropriated accordingly,”.

822 Subsection 22(2)

Omit “Fund”, substitute “Reserve, out of the Consolidated Revenue Fund, amounts equal to”.

823 Section 23

Omit “Fund”, (wherever occurring), substitute “Reserve”.

Note: The heading to section 23 is altered by omitting “Fund” and substituting “Reserve”.

Lands Acquisition Act 1989

824 Section 6 (definition of Trust Fund)

Repeal the definition.

825 Section 6

Insert:

Reserve means the Lands Acquisition Reserve established by section 89A.

826 After section 89

Insert:

89A Establishment of Lands Acquisition Reserve

(1) This subsection establishes a reserve called the Lands Acquisition Reserve.

(2) The Reserve is a component of the Reserved Money Fund.

827 Section 90

Omit “Trust Fund” (wherever occurring), substitute “Reserve”.

Note: The heading to section 90 is altered by omitting “Trust Fund” and substituting “Reserve”.

828 Section 114

Omit “Trust Fund” (wherever occurring), substitute “Reserve”.

Note: The heading to section 114 is altered by omitting “Trust Fund” and substituting “Reserve”.

Loan Consolidation and Investment Reserve Act 1955

829 Subsection 4(2)

Repeal the subsection, substitute:

(2) The Reserve is a component of the Reserved Money Fund.

830 Section 5

Repeal the section, substitute:

5 Payments to Reserve

There must be transferred to the Reserve from the Consolidated Revenue Fund:

(a) amounts appropriated by the Parliament for the purposes of the Reserve; and

(b) amounts equal to interest received by the Commonwealth from the investment of money from the Reserve.

831 Subsection 6(4)

Omit “section 62B of the Audit Act 1901”, substitute “section 39 of the Financial Management and Accountability Act 1996”.

832 Subsection 7(4)

Repeal the subsection, substitute:

(4) Section 62 of the Financial Management and Accountability Act 1996 applies to the Finance Minister’s power under subsection 6(4) of this Act in the same way as that section applies to the Finance Minister’s powers under the Financial Management and Accountability Act 1996.

Loan (Income Equalization Deposits) Act 1976

833 Subsection 4B(3)

Omit “Trust Account”, substitute “Reserve”.

834 Section 7

Repeal the section, substitute:

7 Establishment of Reserve

(1) This subsection establishes a reserve called the Income Equalization Deposits Reserve.

(2) The Reserve is a component of the Reserved Money Fund.

835 Section 8

Omit “Trust Account” (wherever occurring), substitute “Reserve”.

Note: The heading to section 8 is altered by omitting “Trust Account” and substituting “Reserve”.

836 Subsection 15A(9)

Omit “Trust Account”, substitute “Reserve”.

Loan (Temporary Revenue Deficits) Act 1953

837 Subsection 3(1)

Omit “Notwithstanding section fifty-seven of the Audit Act 1901-1952, whenever”, substitute “Whenever”.

Maritime College Act 1978

838 At the end of subsection 5(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the College. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

839 Paragraph 17(2)(b)

Omit “an obligation imposed on him or her by section 18”, substitute “section 21 of the Commonwealth Authorities and Companies Act 1996”.

840 Section 18

Repeal the section.

841 After section 32

Insert:

33 College’s financial year starts on 1 January

For the purposes of the Commonwealth Authorities and Companies Act 1996, the College’s financial year is a period of 12 months starting on 1 January.

842 At the end of section 34

Add:

(2) Subsection (1) does not prevent investment of surplus money of the College under section 18 of the Commonwealth Authorities and Companies Act 1996.

843 Section 35

Repeal the section.

844 Section 37C

Omit “35,”.

845 Section 37E

Repeal the section.

Meat and Live-stock Industry Act 1995

846 At the end of subsection 8(2)

Add:

847 Paragraph 23(1)(a)

Repeal the paragraph, substitute:

(a) to consider the most recent annual reports on the Council, AMLC and MRC (these reports are prepared under section 9 of the Commonwealth Authorities and Companies Act 1996); and

848 Paragraph 23(2)(a)

Omit all the words after “annual report”, substitute “on the Council be received;”.

849 Paragraph 23(2)(b)

Omit all the words after “annual report”, substitute “on AMLC be received;”.

850 Paragraph 23(2)(c)

Omit all the words after “annual report”, substitute “on MRC be received;”.

851 Section 32

Repeal the section, substitute:

32 Situations that do not amount to interests requiring disclosure

For the purposes of section 21 of the Commonwealth Authorities and Companies Act 1996, a member is not taken to have a material personal interest in a matter being considered or about to be considered by the Council merely because the member is a producer of live-stock, an exporter of live-stock, the operator of meatworks or an exporter of meat.

852 Paragraph 35(3)(c)

Omit “32”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

853 At the end of section 44

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Council under section 18 of the Commonwealth Authorities and Companies Act 1996.

854 Section 47

Repeal the section.

855 Section 50

Omit “The Council must include in each annual report prepared under section 63H of the Audit Act 1901, as that section applies to it because of section 47 of this Act:”, substitute “The annual report on the Council under section 9 of the Commonwealth Authorities and Companies Act 1996 must also include:”.

Note: The heading to section 50 is replaced by the heading “Extra matters to be included in annual report”.

856 At the end of subsection 53(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to AMLC. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

857 Section 112

Repeal the section, substitute:

112 Situations that do not amount to interests requiring disclosure

For the purposes of section 21 of the Commonwealth Authorities and Companies Act 1996, a member is not taken to have a material personal interest in a matter being considered or about to be considered by AMLC merely because the member is a producer of live-stock, an exporter of live-stock, the operator of meatworks or an exporter of meat.

858 Paragraph 115(3)(c)

Omit “112”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

859 At the end of section 126

Add:

(3) Subsections (1) and (2) do not prevent investment of surplus money of AMLC under section 19 of the Commonwealth Authorities and Companies Act 1996.

860 Sections 130, 131, 132 and 133

Repeal the sections.

861 Subsection 163(1)

Repeal the subsection.

862 Subsection 163(2)

Omit “The annual report for a financial year must include:”, substitute “The annual report on AMLC under section 9 of the Commonwealth Authorities and Companies Act 1996 must also include:”.

Note: The heading to section 163 is replaced by the heading “Extra matters to be included in annual report”.

863 Subsections 163(4) and (5)

Repeal the subsections.

864 At the end of subsection 166(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to MRC. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

865 Section 191

Repeal the section, substitute:

191 Situations that do not amount to interests requiring disclosure

For the purposes of section 21 of the Commonwealth Authorities and Companies Act 1996, a member is not taken to have a material personal interest in a matter being considered or about to be considered by MRC merely because the member is a producer of live-stock, an exporter of live-stock, the operator of meatworks or an exporter of meat.

866 Paragraph 194(3)(c)

Omit “191”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

867 At the end of section 205

Add:

(2) Subsection (1) does not prevent investment of surplus money of MRC under section 18 of the Commonwealth Authorities and Companies Act 1996.

868 Section 208

Repeal the section.

869 Section 213

Omit “MRC must include in each annual report prepared under section 63H of the Audit Act 1901, as that section applies to it because of section 208 of this Act:”, substitute “ The annual report on MRC under section 9 of the Commonwealth Authorities and Companies Act 1996 must also include:”.

Note: The heading to section 213 is replaced by the heading “Extra matters to be included in annual report”.

870 Paragraph 221(3)(b)

Omit “authority’s annual report”, substitute “annual report on the authority under section 9 of the Commonwealth Authorities and Companies Act 1996”.

871 At the end of section 221

Add:

(5) This section does not apply to notices under section 28 of the Commonwealth Authorities and Companies Act 1996, and does not affect the Minister’s power to give notices under that section.

Military Superannuation and Benefits Act 1991

872 At the end of section 19

Add:

(4) The Board is not a Commonwealth authority for the purposes of the Commonwealth Authorities and Companies Act 1996.

873 Section 25

Repeal the section, substitute:

25 Banking

(1) The Board must pay all money received by it in respect of the Fund into an account maintained by it with a bank.

(2) In this section:

bank means a person who carries on the business of banking, either in Australia or outside Australia.

25A Accounting records

(1) The Board must keep proper accounts and records of the Fund’s transactions and affairs in accordance with the accounting principles generally applied in commercial practice.

(2) The Board must do all things necessary to ensure that:

(a) all payments out of the Fund are correctly made and properly authorised; and

(b) adequate control is maintained over the assets of the Fund and over the incurring of liabilities by the Board in respect of the Fund.

(3) If a requirement of this section is contravened, each member of the Board who intentionally:

(a) caused the contravention; or

(b) failed to take all reasonable steps to comply with the requirement, or secure compliance with the requirement;

is guilty of an offence.

Penalty for contravention of subsection (3): Imprisonment for 6 months

25B Audit

(1) At least once a year, the Auditor-General must:

(a) inspect and audit:

(i) the accounts and records of the Fund’s financial transactions; and

(ii) the records relating to assets of the Fund; and

(b) report to the Minister the results of the inspection and audit.

(2) The Auditor-General may, however, decide to dispense with all or any part of the detailed inspection of the accounts and records.

(3) The Auditor-General must, as soon as practicable, report to the Minister any irregularity disclosed by the inspection that the Auditor-General thinks is sufficiently important to be reported.

Note: For the information-gathering powers of the Auditor-General, see Part 5 of the Auditor-General Act 1996.

National Cattle Disease Eradication Trust Account Act 1991

874 Title

Omit “continue in existence the National Cattle Disease Eradication Trust Account”, substitute “establish the National Cattle Disease Eradication Reserve”.

875 Section 1

Omit “Trust Account”, substitute “Reserve”.

876 Section 3 (definition of the Account)

Repeal the definition.

877 Section 3

Insert:

Reserve means the National Cattle Disease Eradication Reserve established by section 4.

878 Section 4

Repeal the section, substitute:

4 Establishment of Reserve

(1) This subsection establishes a reserve called the National Cattle Disease Eradication Reserve.

(2) The Reserve is a component of the Reserved Money Fund.

879 Subsection 5(1)

Omit “There is to be paid into the Account”, substitute “There must be transferred to the Reserve from the Consolidated Revenue Fund”.

Note: The heading to section 5 is altered by omitting “Trust Account” and substituting “Reserve”.

880 Paragraph 5(1)(c)

Omit “Account”, substitute “Reserve”.

881 Paragraph 5(1)(d)

Repeal the paragraph, substitute:

(d) amounts equal to interest from the investment of money from the Reserve.

882 Subsection 5(2)

Repeal the subsection.

883 Section 6

Omit “Account”, substitute “Reserve”.

Note: The heading to section 6 is altered by omitting “Trust Account” and substituting “Reserve”.

National Environment Protection Council Act 1994

884 At the end of section 56

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Service Corporation under section 18 of the Commonwealth Authorities and Companies Act 1996 as it applies to the Service Corporation under section 59 of this Act.

885 Sections 58 and 59

Repeal the sections, substitute:

59 Application of the Commonwealth Authorities and Companies Act 1996

(1) The Service Corporation is not a Commonwealth authority for the purposes of the Commonwealth Authorities and Companies Act 1996.

(2) Sections 9, 18 and 20 of that Act, and Schedule 1 to that Act, apply in relation to the Service Corporation as if it were a Commonwealth authority for the purposes of that Act.

(3) Section 9 of the Commonwealth Authorities and Companies Act 1996 applies in relation to the Service Corporation as if the NEPC Executive Officer were a director of the Service Corporation for the purposes of that Act.

(4) Schedule 1 to that Act applies in relation to the Commission as if references in that Schedule to the Finance Minister’s Orders were references to requirements set out in a resolution of the Ministerial Council carried in accordance with section 28 of this Act.

(5) An annual report prepared under section 9 of that Act must also contain any other information required by the Council to be included in the report.

(6) A copy of each annual report given to the Minister must be given to each member of the Ministerial Council as soon as practicable.

National Gallery Act 1975

886 At the end of subsection 4(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the Gallery. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

887 Subsection 7(4)

Omit “sections 36 and 39”, substitute “section 36 of this Act and subsection 18(3) of the Commonwealth Authorities and Companies Act 1996”.

888 Paragraph 17(2)(c)

Omit “19”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

889 Section 19

Repeal the section.

890 Paragraph 29(2)(aa)

Omit “19”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

891 Section 35

Repeal the section.

892 At the end of section 37

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Gallery under section 18 of the Commonwealth Authorities and Companies Act 1996.

893 Subsection 38(2)

Omit “39”, substitute “18 of the Commonwealth Authorities and Companies Act 1996”.

894 Sections 39 and 40

Repeal the sections, substitute:

40 Extra matters to be included in annual report

In each report on the Gallery under section 9 of the Commonwealth Authorities and Companies Act 1996, the members must include particulars of any disposals of works of art under section 9 of this Act during the financial year to which the report relates.

National Health Act 1953

895 At the end of subsection 82B(2)

Add:

Note: Subject to section 82BA, the Commonwealth Authorities and Companies Act 1996 applies to the Council. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

896 After section 82B

Insert:

82BA Modification of the Commonwealth Authorities and Companies Act 1996

(1) The Commonwealth Authorities and Companies Act 1996 applies (subject to subsection (2)) in relation to the Council as if the Commissioner were the Council’s only director.

(2) Sections 14 and 21 of the Commonwealth Authorities and Companies Act 1996 do not apply in relation to the Council.

897 After section 82C

Insert:

82CA Disclosure of interests by Commissioner

If the Commissioner has a material personal interest in a matter that the Commissioner is considering or is about to consider, the Commissioner must give written notice of the interest to the Minister.

898 Section 82P

After “powers of the Council”, insert “, other than functions and powers under the Commonwealth Authorities and Companies Act 1996”.

899 At the end of section 82PA

Add:

Note: An annual report on the Council’s operations must also be prepared under section 9 of the Commonwealth Authorities and Companies Act 1996.

Note: The heading to section 82PA is replaced by the heading “Report on registered organisations”.

900 At the end of subsection 82ZR(1)

Add:

Note: Subject to section 82ZRAA, the Commonwealth Authorities and Companies Act 1996 applies to the Complaints Commissioner. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

901 After section 82ZR

Insert:

82ZRAA Commonwealth Authorities and Companies Act 1996 applies as though Complaints Commissioner were a director

(1) Subsection 82ZR(1) provides that the Complaints Commissioner is a corporation. The Commonwealth Authorities and Companies Act 1996 applies (subject to subsection (2)) in relation to the corporation as if the person holding, or performing the duties of, the office of Complaints Commissioner were a director of the corporation for the purposes of that Act.

(2) Section 21 of the Commonwealth Authorities and Companies Act 1996 does not apply in relation to the Complaints Commissioner.

902 After section 82ZUB

Insert:

82ZUBA Disclosure of interest by Complaints Commissioner

If the Complaints Commissioner has a material personal interest in a matter that the Complaints Commissioner is considering or is about to consider, the Complaints Commissioner must give written notice of the interest to the Minister.

903 Subsection 82ZVA(1)

Repeal the subsection

904 Subsection 82ZVA(2)

Omit all the words from and including “The annual report” to and including “summary of:”, substitute “The annual report prepared by the Complaints Commissioner under section 9 of the Commonwealth Authorities and Companies Act 1996 must also include a summary of:”.

Note: The heading to section 82ZVA is replaced by the heading “Extra matters to be included in annual report.

National Health and Medical Research Council Act 1992

905 Section 4 (definition of Fund)

Repeal the definition.

906 Section 4

Insert:

Reserve means the Medical Research Endowment Reserve established by section 49.

907 Paragraph 7(1)(c)

Omit “Fund”, substitute “Reserve”.

908 Paragraphs 35(2)(a) and (b)

Omit “Fund”, substitute “Reserve”.

909 Part 7 (heading)

Repeal the heading, substitute:

Part 7—Medical Research Endowment Reserve

910 Section 49

Repeal the section, substitute:

49 Establishment of Reserve

(1) This subsection establishes a reserve called the Medical Research Endowment Reserve.

(2) The Reserve is a component of the Reserved Money Fund.

(3) If interest is received by the Commonwealth from the investment of money from the Reserve, an amount equal to the interest must be transferred to the Reserve from the Consolidated Revenue Fund.

911 Section 50

Repeal the section, substitute:

50 Payments into Reserve

There must be transferred to the Reserve from the Consolidated Revenue Fund:

(a) amounts from time to time appropriated by the Parliament for the purposes of the Reserve; and

(b) amounts equal to amounts that are given or bequeathed for the purposes of the Reserve.

912 Subsection 51(1)

Omit “Fund”, substitute “Reserve”.

Note: The heading to section 51 is altered by omitting “Fund” and substituting “Reserve”.

913 Subsection 52(1)

Omit “the Audit Act 1901 (other than section 62B of that Act)”, substitute “the Financial Management and Accountability Act 1996 (other than section 39 of that Act)”.

914 Subsection 52(1)

Omit “Fund” (wherever occurring), substitute “Reserve”.

915 Subsection 52(2)

Omit “Fund”, substitute “Reserve”.

916 Section 53

Repeal the section, substitute:

53 Money repaid to the Commonwealth

Amounts equal to money repaid to the Commonwealth in accordance with a condition determined under subsection 51(2) must be transferred to the Reserve from the Consolidated Revenue Fund.

National Library Act 1960

917 At the end of subsection 5(1)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the Library. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

918 Paragraph 15(1)(e)

Omit “15B”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

919 Section 15B

Repeal the section.

920 Paragraph 17E(1)(aa)

Omit “15B”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

921 Sections 21 and 21A

Repeal the sections.

922 At the end of section 22

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Library under section 18 of the Commonwealth Authorities and Companies Act 1996.

923 Section 23

Repeal the section.

924 Section 27

Repeal the section.

National Measurement Act 1960

925 At the end of subsection 16(2)

Add:

926 Paragraph 18AC(2)(c)

Omit “18AD”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

927 Sections 18AD and 18C

Repeal the sections.

928 Paragraph 18D(c)

Omit “18DA”, substitute “18 of the Commonwealth Authorities and Companies Act 1996”.

929 Sections 18DA and 18E

Repeal the sections.

930 Subsection 18F(2)

Omit “18DA”, substitute “18 of the Commonwealth Authorities and Companies Act 1996”.

931 Sections 18G, 18H and 19C

Repeal the sections.

National Museum of Australia Act 1980

932 At the end of subsection 4(2)

Add:

933 Subsection 9(5)

Omit “The Museum must, in each report prepared under section 63M of the Audit Act 1901 (as that section applies by virtue of section 38),”, substitute “In each report on the Museum under section 9 of the Commonwealth Authorities and Companies Act 1996, the members must”.

934 Paragraph 17(2)(c)

Omit “section 19”, substitute “section 21 of the Commonwealth Authorities and Companies Act 1996”.

935 Section 19

Repeal the section.

936 Paragraph 27(2)(e)

Omit “his obligations under section 19”, substitute “section 21 of the Commonwealth Authorities and Companies Act 1996”.

937 Section 34

Repeal the section.

938 At the end of section 35

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Museum under section 18 of the Commonwealth Authorities and Companies Act 1996.

939 Section 36

Repeal the section.

940 Subsection 37(2)

Omit “36”, substitute “18 of the Commonwealth Authorities and Companies Act 1996”.

941 Subsections 38(1), (2) and (3)

Repeal the subsections.

Note: The heading to section 38 is replaced by the heading “Extra matters to be included in annual report”.

942 Subsection 38(4)

Omit “Museum in pursuance of section 63M of the Audit Act 1901 shall”, substitute “members under section 9 of the Commonwealth Authorities and Companies Act 1996 must”.

National Occupational Health and Safety Commission Act 1985

943 At the end of subsection 6(2)

Add:

944 Paragraph 14(3)(b)

After “27”, insert “of this Act or section 21 of the Commonwealth Authorities and Companies Act 1996”.

945 Subsection 14(6)

Omit “15 or 27”, substitute “27 of this Act or section 21 of the Commonwealth Authorities and Companies Act 1996”.

946 Subsections 15(1), (2) and (3)

Repeal the subsections.

Note: The heading to section 15 is altered by omitting “members” and substituting “Chairperson and Chief Executive Officer”.

947 Section 57

Repeal the section.

948 Subsection 58(2)

Repeal the subsection, substitute:

(2) Money standing to the credit of the Fund that is not immediately needed for the purposes of the Fund may be invested under subsection 18(3) of the Commonwealth Authorities and Companies Act 1996.

949 Subsection 58(8) (definition of approved bank)

Repeal the definition.

950 At the end of section 59

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Commission under section 18 of the Commonwealth Authorities and Companies Act 1996.

951 Section 60

Repeal the section.

952 Subsection 66(2)

Repeal the subsection, substitute:

(2) The Minister must cause to be tabled in each House of the Parliament a copy of the statement prepared for a year under subsection (1) at the same time as the annual report for the Commission for that year is tabled under the Commonwealth Authorities and Companies Act 1996.

National Parks and Wildlife Conservation Act 1975

953 At the end of subsection 15(1)

Add:

Note: Subject to section 15A, the Commonwealth Authorities and Companies Act 1996 applies to the Director. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

954 After section 15

Insert:

15A Modification of the Commonwealth Authorities and Companies Act 1996

(1) Subsection 15(1) provides that the Director is a corporation. The Commonwealth Authorities and Companies Act 1996 applies (subject to subsections (2) and (3)) in relation to the corporation as if the person holding, or performing the duties of, the office of Director were a director of the corporation for the purposes of that Act.

(2) Section 21 of the Commonwealth Authorities and Companies Act 1996 does not apply in relation to the Director.

(3) The Commonwealth Authorities and Companies Act 1996 applies to the Fund as though the Fund were money of the Director.

955 Subsection 16(3)

Repeal the subsection.

956 After section 17

Insert:

17AA Disclosure of interest by Director

If the Director has a material personal interest in a matter that the Director is considering or is about to consider, the Director must give written notice of the interest to the Minister.

957 Section 47

Repeal the section.

958 At the end of section 48

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Fund under section 18 of the Commonwealth Authorities and Companies Act 1996.

959 Sections 49A, 50 and 51

Repeal the sections.

960 Section 52

Repeal the section, substitute:

52 Extra matters to be included in annual report

The annual report prepared by the Director under section 9 of the Commonwealth Authorities and Companies Act 1996 must also include:

(a) particulars of any directions given by the Minister under subsection 16(2) of this Act during the year to which the report relates; and

(b) the report prepared by the Director under section 49 of the Endangered Species Protection Act 1992.

961 Section 53

Repeal the section.

National Residue Survey Administration Act 1992

962 Title

Omit “Trust Account”, substitute “Reserve”.

963 Section 4 (definition of Account)

Repeal the definition.

964 Section 4

Insert:

Reserve means the National Residue Survey Reserve established by section 6.

965 Part 3 (heading)

Repeal the heading, substitute:

Part 3—National Residue Survey Account

966 Section 6

Repeal the section, substitute:

6 Establishment of Reserve

(1) This subsection establishes a reserve called the National Residue Survey Reserve.

(2) The Reserve is a component of the Reserved Money Fund.

967 Section 7

Omit “There is to be paid into the Account”, substitute “There must be transferred to the Reserve from the Consolidated Revenue Fund”.

Note: The heading to section 7 is altered by omitting “Account” and substituting “Reserve”.

968 Paragraphs 7(c), (d) and (da)

Repeal the paragraphs, substitute:

969 Paragraph 7(e)

Omit “Account”, substitute “Reserve”.

970 Paragraph 7(f)

Repeal the paragraph, substitute:

(f) amounts equal to income from the investment of money from the Reserve.

971 Section 8

Omit “Account” (wherever occurring), substitute “Reserve”.

Note: The heading to section 8 is altered by omitting “Account” and substituting “Reserve”.

972 Section 10

Omit “National Residue Survey Account”, substitute “Reserve”.

973 Paragraphs 10(a), (b) and (c)

Omit “Account”, substitute “Reserve”.

974 Section 11

Omit “National Residue Survey Account”, substitute “Reserve”.

975 Section 12

Repeal the section.

National Road Transport Commission Act 1991

976 Sections 40 and 41

Repeal the sections, substitute:

40 Application of the Commonwealth Authorities and Companies Act 1996

(1) The Commission is not a Commonwealth authority for the purposes of the Commonwealth Authorities and Companies Act 1996.

(2) Sections 9, 18 and 20 of that Act, and Schedule 1 to that Act, apply in relation to the Commission as if it were a Commonwealth authority for the purposes of that Act.

(3) Schedule 1 to that Act applies in relation to the Commission as if references in that Schedule to the Finance Minister’s Orders were references to requirements set out in a resolution of the Ministerial Council passed in accordance with the Heavy Vehicles Agreement.

(4) An annual report prepared by members under section 9 of that Act must also contain any other information required by an Agreement to be included in the report.

(5) A copy of each annual report given to the Minister must be given to each member of the Ministerial Council as soon as practicable.

Native Title Act 1993

977 Sections 133, 134 and 135

Repeal the sections, substitute:

133 Annual report

(1) As soon as practicable after 30 June in each year, the President must prepare and give to the Commonwealth Minister a report of the management of the administrative affairs of the Tribunal during the year.

(2) The report must include:

(a) the financial statements required by section 49 of the Financial Management and Accountability Act 1996; and

(b) an audit report on those statements under section 57 of the Financial Management and Accountability Act 1996.

(3) The Commonwealth Minister must cause a copy of the report to be tabled in each House of the Parliament as soon as practicable.

Natural Heritage Trust of Australia Act 1996

978 Paragraph 6(1)(a)

Omit “40”, substitute “39”.

979 Section 42 (note)

Omit “40(2)”, substitute “39(2)”.

Natural Resources Management (Financial Assistance) Act 1992

980 Title

Omit “Fund”, substitute “Reserve”.

981 Subsection 4(1) (definition of Fund)

Repeal the definition.

982 Subsection 4(1)

Insert:

Reserve means the Natural Resources Management Reserve established by section 11.

983 Subsection 6(5)

Omit “Fund”, substitute “Reserve”.

984 Part 3 (heading)

Repeal the heading, substitute:

Part 3—Natural Resources Management Reserve

985 Subsections 11(1), (2) and (3)

Repeal the subsections, substitute:

(1) This subsection establishes a reserve called the Natural Resources Management Reserve.

(2) The Reserve is a component of the Reserved Money Fund.

(3) If interest is received by the Commonwealth from the investment of money from the Reserve, an amount equal to the interest must be transferred to the Reserve from the Consolidated Revenue Fund.

Note: The heading to section 11 is altered by omitting “Fund” and substituting “Reserve”.

986 Subsection 11(4)

Omit “The following amounts are to be paid into the Fund”, substitute “There must be transferred to the Reserve from the Consolidated Revenue Fund”.

987 Paragraph 11(4)(b)

Omit “Fund”, substitute “Reserve”.

988 Paragraphs 11(4)(b), (c) and (d)

Before “amounts”, insert “amounts equal to”.

989 Subsection 11(5)

Omit “Fund” (wherever occurring), substitute “Reserve”.

990 Subsection 12(1)

Omit “or in the Audit Act 1901 (other than subsection (2) of this section and section 62B of the Audit Act 1901)”, substitute “(other than subsection (2) of this section) or in the Financial Management and Accountability Act 1996 (other than section 39 of that Act)”.

991 Paragraphs 12(1)(a) and (b)

Omit “Fund”, substitute “Reserve”.

992 Subsection 12(2)

Omit “Fund”, substitute “Reserve”.

Norfolk Island Act 1979

993 Section 51G

Omit “subsection 63MB(1) of the Audit Act 1901” (wherever occurring), substitute “section 24 of the Auditor-General Act 1996”.

Occupational Health and Safety (Commonwealth Employment) Act 1991

994 Subsection 5(1) (definition of annual report of Comcare)

Repeal the definition, substitute:

annual report of Comcare means the annual report on Comcare prepared under section 9 of the Commonwealth Authorities and Companies Act 1996.

Pig Industry Act 1986

995 Section 4 (definition of company auditor)

Repeal the definition.

996 Section 4 (definition of Corporation auditor)

Repeal the definition.

997 At the end of subsection 5(2)

Add:

998 Paragraph 14(2)(b)

Omit “15”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

999 Section 15

Repeal the section, substitute:

15 Situations that do not amount to interests requiring disclosure

(1) If:

(a) a member has an interest in a matter being considered or about to be considered by the Corporation; and

(b) it is an interest that the member has by reason of being a principal in the industry; and

the interest is not to be taken to be a material personal interest of the member for the purposes of section 21 of the Commonwealth Authorities and Companies Act 1996.

(2) In this section:

principal in the industry means a pig producer, pig exporter, pork processor, pork producer or pork exporter.

1000 Subsection 21(4)

Omit “annual report of the Corporation”, substitute “annual report on the Corporation under section 9 of the Commonwealth Authorities and Companies Act 1996”.

1001 After subsection 25(1)

Insert:

(1A) Subsection (1) does not prevent investment of surplus money of the Corporation under section 19 of the Commonwealth Authorities and Companies Act 1996.

1002 Sections 26, 27, 28, 29 and 30

Repeal the sections.

1003 Section 33

Omit “laid before each House of the Parliament in accordance with section 34”, substitute “tabled in each House of the Parliament under section 9 of the Commonwealth Authorities and Companies Act 1996”.

1004 Subsections 34(1), (2) and (3)

Repeal the subsections.

1005 Subsection 34(4)

Omit “Without limiting the generality of subsection (1), the Corporation shall include in each annual report referred to in that subsection—”, substitute “The annual report on the Corporation under section 9 of the Commonwealth Authorities and Companies Act 1996 must also include:”.

Note: The heading to section 34 is replaced by the heading “Extra matters to be included in annual report”.

1006 Subsection 34(5)

Repeal the subsection.

Prawn Export Promotion Act 1995

1007 Section 14

Repeal the section.

Primary Industries and Energy Research and Development Act 1989

1008 At the end of subsection 10(1)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to an R&D Corporation. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

1009 Subsection 12(1)

Omit “Subject to subsection (2), an”, substitute “An”.

1010 Subsection 12(2)

Repeal the subsection.

1011 Subsection 28(1)

Omit “Without limiting the matters that an R&D Corporation may include in its annual report under section 63H of the Audit Act 1901 for a period, it must include in the report”, substitute “The directors must include in each report on an R&D Corporation prepared under section 9 of the Commonwealth Authorities and Companies Act 1996”.

1012 Subsection 28(2)

Repeal the subsection.

1013 Section 54

Repeal the section.

1014 Paragraph 73(1)(c)

Omit “54”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

1015 At the end of section 100

Add:

(2) Section 21 of the Commonwealth Authorities and Companies Act 1996 applies to members of an R&D Council as if the Council were a Commonwealth authority and the members were directors of the authority.

1016 At the end of section 138

Add:

; and (g) the reference in paragraph 73(1)(c) of this Act to section 21 of the Commonwealth Authorities and Companies Act 1996 were a reference to subsections (2), (3), (4) and (5) of this section.

(2) If:

(a) a member of the Selection Committee has a direct or indirect pecuniary interest in a matter being considered, or about to be considered, by the Committee; and

(b) the interest could conflict with the proper performance of the member’s duties in relation to the matter;

the member must disclose the nature of the interest at a meeting of the Committee as soon as practicable after the member knows the relevant facts.

(3) The disclosure must be recorded in the minutes of the meeting.

(4) Unless the Committee determines otherwise, the member must not:

(a) be present during any deliberation of the Committee in relation to the matter; or

(b) take part in any decision of the Committee in relation to the matter.

(5) A member who has a direct or indirect pecuniary interest in a matter to which a disclosure relates must not:

(a) be present during any deliberation of the Committee for the purpose of making a determination under subsection (4); or

(b) take part in the Committee’s making of the determination.

Note: The heading to section 138 is altered by adding at the end “and disclosure of interest provisions”.

Primary Industries Levies and Charges Collection Act 1991

1017 Section 13

Omit “Audit Act 1901”, substitute “Financial Management and Accountability Act 1996”.

Note: The heading to section 13 is altered by omitting “Audit Act” and substituting “Financial Management and Accountability Act”.

Proceeds of Crime Act 1987

1018 Subsection 4(1) (definition of distributable funds)

Omit “Trust Fund”, substitute “Reserve”.

1019 Subsection 4(1) (definition of suspended funds)

Omit “Trust Fund”, substitute “Reserve”.

1020 Subsection 4(1) (definition of Trust Fund)

Repeal the definition.

1021 Subsection 4(1)

Insert:

Reserve means the Confiscated Assets Reserve established by section 34A.

1022 Subsection 20(3)

Omit “Trust Fund” (wherever occurring), substitute “Reserve”.

1023 Subsection 30(4)

Omit “Trust Fund” (wherever occurring), substitute “Reserve”.

1024 Part IIA (heading)

Repeal the heading, substitute:

Part IIA—Confiscated Assets Reserve

1025 Section 34A

Repeal the section, substitute:

34A Establishment of Reserve

(1) This subsection establishes a reserve called the Confiscated Assets Reserve.

(2) The Reserve is a component of the Reserved Money Fund.

1026 Subsection 34B(1)

Omit “There are to be paid into the Trust Fund”, substitute “There must be transferred to the Reserve from the Consolidated Revenue Fund amounts equal to”.

Note: The heading to section 34B is altered by omitting “Trust Fund” and substituting “Reserve”.

1027 Paragraph 34B(1)(d)

Omit “Trust Fund”, substitute “Reserve”.

1028 Subsections 34B(2) and (3)

Omit “Trust Fund” (wherever occurring), substitute “Reserve”.

1029 Section 34C

Omit “Trust Fund” (wherever occurring), substitute “Reserve”.

Note: The heading to section 34C is altered by omitting “Trust Fund” and substituting “Reserve”.

1030 Subsection 34E(1)

Omit “Trust Fund”, substitute “Reserve”.

1031 Subsections 49(6), (7) and (8)

Omit “Trust Fund” (wherever occurring), substitute “Reserve”.

1032 Subsections 63(4), (5) and (6)

Omit “Trust Fund” (wherever occurring), substitute “Reserve”.

Public Accounts Committee Act 1951

1033 At the end of the title

Add “and Audit”.

1034 Section 1

After “Accounts”, insert “and Audit”.

1035 Section 4

Insert:

Audit Office means the Australian National Audit Office established by section 38 of the Auditor-General Act 1996.

1036 Section 4

Insert:

Auditor-General means the Auditor-General for the Commonwealth referred to in section 7 of the Auditor-General Act 1996.

1037 Section 4

Insert:

Independent Auditor means the Independent Auditor referred to in section 41 of the Auditor-General Act 1996.

1038 Section 4 (definition of the Committee)

After “Accounts”, insert “and Audit”.

1039 Subsections 5(1) and (2)

Repeal the subsections, substitute:

(1) As soon as practicable after the commencement of this subsection and the first session of each Parliament, a joint committee of members of the Parliament, to be known as the Joint Committee of Public Accounts and Audit, is to be appointed.

(2) The Committee is to consist of 16 members of the Parliament. 6 members must be members of, and be appointed by, the Senate. 10 members must be members of, and be appointed by, the House of Representatives. The members must be appointed according to the practice of the Parliament for the appointment of members to serve on joint select committees of both Houses of the Parliament.

1040 Transitional provision relating to changes to Committee

For the purposes of section 25B of the Acts Interpretation Act 1901, the amendment made by item 1039 is taken to be an amendment altering the name and constitution of the Committee provided for in the Public Accounts Committee Act 1951 as in force immediately before the commencement of that item.

1041 Subsection 5(6)

After “Accounts” (wherever occurring), insert “and Audit”.

1042 Subsection 5(6)

Omit “(1)”, substitute “(2)”.

1043 Subsection 8(1)

Repeal the subsection, substitute:

(1) The duties of the Committee are:

(a) to examine the accounts of the receipts and expenditure of the Commonwealth, including the financial statements given to the Auditor-General under subsections 49(1) and 55(2) of the Financial Management and Accountability Act 1996; and

(b) to examine the financial affairs of authorities of the Commonwealth to which this Act applies and of intergovernmental bodies to which this Act applies; and

(c) to examine all reports of the Auditor-General (including reports of the results of performance audits) that are tabled in each House of the Parliament; and

(d) to report to both Houses of the Parliament, with any comment it thinks fit, on any items or matters in those accounts, statements and reports, or any circumstances connected with them, that the Committee thinks should be drawn to the attention of the Parliament; and

(e) to report to both Houses of the Parliament any alteration that the Committee thinks desirable in:

(i) the form of the public accounts or in the method of keeping them; or

(ii) the mode of receipt, control, issue or payment of public moneys; and

(f) to inquire into any question connected with the public accounts which is referred to the Committee by either House of the Parliament, and to report to that House on that question; and

(g) to consider:

(i) the operations of the Audit Office; and

(ii) the resources of the Audit Office, including funding, staff and information technology; and

(iii) reports of the Independent Auditor on operations of the Audit Office; and

(h) to report to both Houses of the Parliament on any matter arising out of the Committee’s consideration of the matters listed in paragraph (g), or on any other matter relating to the Auditor-General’s functions and powers, that the Committee considers should be drawn to the attention of the Parliament; and

(i) to report to both Houses of the Parliament on the performance of the Audit Office at any time; and

(j) to consider draft estimates for the Audit Office submitted under section 53 of the Auditor-General Act 1996; and

(k) to consider the level of fees determined by the Auditor-General under subsection 14(1) of the Auditor-General Act 1996; and

(l) to make recommendations to both Houses of Parliament, and to the Minister who administers the Auditor-General Act 1996, on draft estimates referred to in paragraph (j); and

(m) to determine the audit priorities of the Parliament and to advise the Auditor-General of those priorities; and

(n) to determine the audit priorities of the Parliament for audits of the Audit Office and to advise the Independent Auditor of those priorities; and

(o) any other duties given to the Committee by this Act, by any other law or by Joint Standing Orders approved by both Houses of the Parliament.

(1A) Nothing in subsection (1) authorises the Committee to direct the activities of the Auditor-General or the Independent Auditor.

1044 After section 8

Insert:

8A Committee may approve or reject recommendation for appointment of Auditor-General or Independent Auditor

(1) If the Audit Minister refers a proposed recommendation for an appointment of the Auditor-General or Independent Auditor to the Committee for approval, the Committee must:

(a) approve or reject the proposal within 14 days after receiving it; or

(b) notify the Audit Minister as provided for in subsection (2).

Note: Clauses 2 of Schedule 1 and 2 of Schedule 2 of the Auditor-General Act 1996 require proposed recommendations to be referred to the Committee for approval.

(2) The Committee may notify the Audit Minister within 14 days after receiving a proposal that it needs more time to consider the proposal. If the Committee does so, the Committee must approve or reject the proposal within 44 days after receiving it.

(3) The decision to approve or reject a proposal is to be by majority of the members of the Committee for the time being holding office.

(4) If the Committee does not make a decision on a proposal by the required time, the Committee is taken, at that time, to have approved the proposal.

(5) The Committee must notify the Audit Minister of its decision on a proposal as soon as practicable after making the decision.

(6) A notification under this section must be in writing.

(7) The Committee must report to both Houses of the Parliament on its decision on a proposal.

(8) In this section:

Audit Minister means the Minister administering the Auditor-General Act 1996.

8B Annual report

(1) The Committee must, in relation to each financial year, prepare a report on the performance of its duties during the year.

(2) The Committee must table the report in each House of the Parliament.

1045 Subsection 9(3)

Omit “sections 8 and 12”, substitute “sections 8, 8A, 8B and 12”.

1046 Schedule, Form C

Omit “Public Accounts Committee Act 1951”, substitute “Public Accounts and Audit Committee Act 1951”.

1047 Schedule, Form C

Omit “Joint Committee of Public Accounts” (wherever occurring), substitute “Joint Committee of Public Accounts and Audit”.

1048 Schedule, Form D

Omit “Public Accounts Committee Act 1951”, substitute “Public Accounts and Audit Committee Act 1951”.

1049 Schedule, Form D

Omit “Joint Committee of Public Accounts” (wherever occurring), substitute “Joint Committee of Public Accounts and Audit”.

Public Service Act 1922

1050 At the end of subsection 25(7)

Add “and Audit”.

Qantas Sale Act 1992

1051 Sections 43 and 44

Repeal the sections.

Remuneration and Allowances Act 1990

1052 Schedule 4 (table row relating to Chairman, Joint Committee of Public Accounts)

Omit “Accounts”, substitute “Accounts and Audit”.

Reserve Bank Act 1959

1053 At the end of section 7

Add:

Note: Subject to section 7A, the Commonwealth Authorities and Companies Act 1996 applies to the Bank. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability and conduct of officers.

1054 After section 7

Insert:

7A Modification of the Commonwealth Authorities and Companies Act 1996

Sections 14 and 18 of the Commonwealth Authorities and Companies Act 1996 do not apply in relation to the Bank.

1055 Paragraph 18(1)(e)

Omit “23”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

1056 Sections 23, 78 and 80

Repeal the sections.

1057 Section 81

Repeal the section, substitute:

81 Extra matters to be included in annual report

(1) The annual report on the Bank under section 9 of the Commonwealth Authorities and Companies Act 1996 must also include a report on any investigations on prudential matters under section 61 of the Banking Act 1959, including details of persons appointed to investigate and report on such matters.

(2) Subsection (1) does not authorise the inclusion in the annual report of a report with respect to the affairs of an individual bank or the affairs of an individual customer of a bank.

1058 Section 81A

Repeal the section.

Royal Australian Air Force Veterans’ Residences Act 1953

1059 Subsection 3(3)

Repeal the subsection.

1060 Subsection 3(4)

Omit “shall consist of the moneys payable to the Trust under the last preceding sub-section”, substitute “consists of money from the Prize Money Trust Account paid to the Trust for the purposes of the Fund”.

1061 After section 5

Insert:

5A Application of the Commonwealth Authorities and Companies Act 1996 and the Auditor-General Act 1996

(1) The Trust is taken to constitute a Commonwealth authority for the purposes of the Commonwealth Authorities and Companies Act 1996 and the Auditor-General Act 1996.

(2) Subsection 18(3) of the Commonwealth Authorities and Companies Act 1996 does not apply to the Trust.

Note: The Commonwealth Authorities and Companies Act 1996 deals with matters relating to Commonwealth authorities, including reporting and accountability, banking, and conduct of officers.

1062 Section 10

Repeal the section.

Safety, Rehabilitation and Compensation Act 1988

1063 At the end of subsection 74(1)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to Comcare. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

1064 At the end of section 70B

Add:

(2) Section 29 of the Commonwealth Authorities and Companies Act 1996 does not apply to Comcare in relation to the activities of Comcare subsidiaries under Part VIIIB or contracts referred to in that Part.

Note: The heading to section 70B is replaced by the heading “Formation and activities of Comcare subsidiaries”.

1065 At the end of section 73

Add:

(3) This section does not affect the application of section 28 of the Commonwealth Authorities and Companies Act 1996 in relation to Comcare.

1066 At the end of section 76

Add:

(4) The Chief Executive Officer is a director of Comcare for the purposes of the Commonwealth Authorities and Companies Act 1996.

(5) If the Chief Executive Officer has a material personal interest in a matter that Comcare is considering or is about to consider, he or she must give written notice of the interest to the Minister.

1067 Paragraph 84(2)(b)

After “contravenes”, insert “subsection 76(5) or”.

1068 After subsection 89E(2)

Insert:

(2A) The Commissioners are not directors of Comcare for the purposes of the Commonwealth Authorities and Companies Act 1996.

Note: Commissioner does not include the Chief Executive Officer: see subsection 4(1).

1069 Section 90

Repeal the section, substitute:

90 Application of the Commonwealth Authorities and Companies Act 1996

(1) The Commonwealth Authorities and Companies Act 1996 (except section 21) applies in relation to Comcare as if the Chief Executive Officer were a director of Comcare for the purposes of that Act.

(2) Each report on Comcare for a year prepared by the Chief Executive Officer under section 9 of that Act must include particulars of each direction given under section 73 of this Act during that year.

1070 Subsection 90A(1)

Omit “section 63J of the Audit Act 1901 as it applies to Comcare by section 90 of this Act”, substitute “subsection 18(2) of the Commonwealth Authorities and Companies Act 1996”.

1071 Subsection 90A(2)

Repeal the subsection.

1072 Subsection 91(4)

Repeal the subsection, substitute:

(4) Subsection (3) does not prevent investment of surplus money of Comcare under section 18 of the Commonwealth Authorities and Companies Act 1996.

1073 Subsections 92(1) and (2)

Repeal the subsections.

1074 Subsection 92(3)

Omit “A reference in this section to”, substitute “For the purposes of section 14 of the Commonwealth Authorities and Companies Act 1996,”.

1075 Subsection 94(2)

Omit “91(4)”, substitute “18(3) of the Commonwealth Authorities and Companies Act 1996”.

1076 Subsection 108Y(4)

Omit “Comcare must, in each report prepared by it under section 63M of the Audit Act 1901 (as that section applies to it by virtue of section 90 of this Act)”, substitute “In each report on Comcare under section 9 of the Commonwealth Authorities and Companies Act 1996, the Chief Executive Officer must”.

Science and Industry Research Act 1949

1077 Subsection 8(2)

Add at the end:

1078 Subsections 9AA(2) to (6) (inclusive)

Repeal the subsections.

1079 Paragraph 10E(2)(b)

Omit “or 23”, substitute “of this Act or section 21 of the Commonwealth Authorities and Companies Act 1996”.

1080 Section 14

Repeal the section.

1081 Paragraph 22(2)(c)

Omit “23”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

1082 Section 23

Repeal the section.

1083 Section 45

Repeal the section.

1084 Subsection 48(1)

Omit “Subject to sub-section (2), the”, substitute “The”.

1085 Subsection 48(2)

Repeal the subsection, substitute:

(2) Subsection (1) does not prevent investment of surplus money of the Organisation under section 18 of the Commonwealth Authorities and Companies Act 1996.

1086 Section 49

Repeal the section.

1087 Subsection 51(1)

Repeal the subsection.

Note: The heading to section 51 is replaced by the heading “Extra matters to be included in annual report”.

1088 Subsection 51(2)

Omit “The Organisation shall, in each report prepared under section 63M of the Audit Act 1901 in respect of a financial year,”, substitute “In each report on the Organisation under section 9 of the Commonwealth Authorities and Companies Act 1996, the members must”.

1089 Paragraph 51(2)(e)

Omit “14”, substitute “28 of the Commonwealth Authorities and Companies Act 1996”.

Sea Installations Act 1987

1090 Subsections 38(1), (2) and (3)

Repeal the subsections, substitute:

(1) This subsection establishes a reserve called the Sea Installations Reserve.

(2) The Reserve is a component of the Reserved Money Fund.

(3) There must be transferred to the Reserve from the Consolidated Revenue Fund amounts equal to money paid as a security under section 37 by way of a cash deposit.

Note: The heading to section 38 is altered by omitting “Trust Account” and substituting “Reserve”.

1091 Subsection 38(4)

Omit “account that is”, substitute “Reserve that represents”.

Services Trust Funds Act 1947

1092 Section 34

Repeal the section, substitute:

34 Application of the Commonwealth Authorities and Companies Act 1996 and the Auditor-General Act 1996

(1) The trustees of each fund are taken to constitute a Commonwealth authority for the purposes of the Commonwealth Authorities and Companies Act 1996 and the Auditor-General Act 1996.

(2) Subsection 18(3) of the Commonwealth Authorities and Companies Act 1996 does not apply to the Trust.

Note: The Commonwealth Authorities and Companies Act 1996 deals with matters relating to Commonwealth authorities, including reporting and accountability, banking, and conduct of officers.

35 Financial years start on 1 July

(1) For the purposes of the Commonwealth Authorities and Companies Act 1996, the financial year for the trustees of each fund is, subject to subsection (2), a period of 12 months starting on 1 July.

(2) The first annual report required to be prepared under the Commonwealth Authorities and Companies Act 1996 by the trustees of each fund is to relate to the period of 18 months starting on the last 1 January before the commencement of this section.

Note: Previously, funds had financial years that ended on 31 December.

Snowy Mountains Hydro-electric Power Act 1949

1093 At the end of subsection 7(2)

Add:

Note: Subject to section 26, the Commonwealth Authorities and Companies Act 1996 applies to the Authority. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

1094 After section 11

Insert:

11A Disclosure of Commissioner’s interests

If the Commissioner has a material personal interest in a matter that the Authority is considering or is about to consider, he or she must give written notice of the interest to the Minister.

1095 At the end of section 13

Add:

; or (f) if the Commissioner contravenes section 11A without reasonable excuse.

1096 Section 26

Repeal the section, substitute:

26 Application of the Commonwealth Authorities and Companies Act 1996

(1) The Commonwealth Authorities and Companies Act 1996 (except section 21) applies to the Authority as if:

(a) the Authority were a body corporate; and

(b) the Commissioner were a director of the Authority for the purposes of that Act.

(2) For the purposes of the application of that Act to the Authority, the following persons are not directors of the Authority:

(a) Associate Commissioners;

(b) members of the Snowy Mountains Council referred to in clause 17 of the Agreement, except the Commissioner.

1097 Subsection 30(1)

Omit “63E of the Audit Act 1901”, substitute “19 of the Commonwealth Authorities and Companies Act 1996”.

1098 Section 30A

Repeal the section.

1099 Subsections 31(2), (3) and (4)

Repeal the subsections, substitute:

(2) Subsection (1) does not apply to investments of surplus money of the Authority under section 19 of the Commonwealth Authorities and Companies Act 1996.

1100 Sections 32 and 32A

Repeal the sections.

Special Broadcasting Service Act 1991

1101 At the end of subsection 5(1)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the SBS. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

1102 At the end of section 13

Add:

(2) The Minister may notify the Directors of general policies of the Commonwealth Government under section 28 of the Commonwealth Authorities and Companies Act 1996. However, the Minister must not notify the Directors of general policies that would affect the content or scheduling of programs.

Note: The heading to section 13 is replaced by the heading “Limits on Government directions to SBS”.

1103 Subparagraph 27(2)(c(ii)

Omit “43”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

1104 Paragraph 37(2)(d)

Omit “or 43”, substitute “of this Act or section 21 of the Commonwealth Authorities and Companies Act 1996”.

1105 Subsection 40(2)

Omit “43(2)”, substitute “21(3) of the Commonwealth Authorities and Companies Act 1996”.

1106 Section 43

Repeal the section.

1107 At the end of subsection 52(2)

Add:

Note: Section 15 of the Commonwealth Authorities and Companies Act 1996 requires Directors to notify the Minister of significant business activities and arrangements.

1108 Subsection 52(3)

Repeal the subsection.

1109 Subsections 58(2) and 58(3)

Repeal the subsections, substitute:

(2) Subsection (1) does not prevent investment of surplus money of the SBS under section 18 of the Commonwealth Authorities and Companies Act 1996.

Note: The heading to section 58 is altered by omitting “and investment”.

1110 Section 66

Repeal the section.

1111 Section 69

Repeal the section.

1112 Section 73

Omit “Board must include in each report prepared under section 63M of the Audit Act 1901, as that section applies to the SBS because of section 69 of this Act”, substitute “Directors must include in each report on the SBS under section 9 of the Commonwealth Authorities and Companies Act 1996”.

States Grants (Primary and Secondary Education Assistance) Act 1992

1113 Subsection 115(2)

Omit “section 50 of the Audit Act 1901”, substitute “section 55 of the Financial Management and Accountability Act 1996”.

States Grants (Schools Assistance) Act 1984

1114 Subsection 87(2)

Omit “section 50 of the Audit Act 1901”, substitute “section 55 of the Financial Management and Accountability Act 1996”.

States Grants (Schools Assistance) Act 1988

1115 Subsection 48(2)

Omit “section 50 of the Audit Act 1901”, substitute “section 55 of the Financial Management and Accountability Act 1996”.

States Grants (TAFE Assistance) Act 1989

1116 Subsection 26(2)

Omit “section 49 or 50 of the Audit Act 1901”, substitute “section 54 or 55 of the Financial Management and Accountability Act 1996”.

Stevedoring Industry Finance Committee Act 1977

1117 At the end of subsection 4(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the Committee. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

1118 Section 17

Repeal the section.

1119 At the end of section 18

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Committee under section 18 of the Commonwealth Authorities and Companies Act 1996.

1120 Section 28

Repeal the section.

Student and Youth Assistance Act 1973

1121 Subsection 3(1) (definition of Fund)

Repeal the definition.

1122 Subsection 3(1)

Insert:

Reserve means the Students (Financial Supplement) Reserve established by section 12M.

1123 Section 12M

Repeal the section, substitute:

12M Students (Financial Supplement) Reserve

(1) This subsection establishes a reserve called the Students (Financial Supplement) Reserve.

(2) The Reserve is a component of the Reserved Money Fund.

1124 Subsection 12N(2)

Omit “Any amount”, substitute “An amount equal to any amount”.

1125 Subsection 12N(2)

Omit “is to be paid into the Fund”, substitute “is to be paid into the Reserve out of the Consolidated Revenue Fund”.

1126 Paragraph 12N(2)(a)

Omit “Fund” (wherever occurring), substitute “Reserve”.

1127 Subsection 12N(3)

Omit “Fund” (wherever occurring), substitute “Reserve”.

1128 Paragraph 56(f)

Omit “Fund”, substitute “Reserve”.

Superannuation Act 1976

1129 At the end of section 27B

Add:

(4) The Board is not a Commonwealth authority for the purposes of the Commonwealth Authorities and Companies Act 1996.

1130 Paragraph 41(2)(e)

Repeal the paragraph, substitute:

(e) to open and maintain accounts with banks.

1131 At the end of section 41

Add:

(9) In this section:

bank means a person who carries on the business of banking, either in Australia or outside Australia.

1132 Section 44

Repeal the section, substitute:

44 Accounting records

(1) The Board must keep proper accounts and records of the Fund’s transactions and affairs in accordance with the accounting principles generally applied in commercial practice.

(2) The Board must do all things necessary to ensure that:

(a) all payments out of the Fund are correctly made and properly authorised; and

(b) adequate control is maintained over the assets of the Fund and over the incurring of liabilities by the Board in respect of the Fund.

(3) If a requirement of this section is contravened, each member of the Board who intentionally:

(a) caused the contravention; or

(b) failed to take all reasonable steps to comply with the requirement, or secure compliance with the requirement;

is guilty of an offence.

Penalty for contravention of subsection (3): Imprisonment for 6 months.

44A Audit

(1) At least once a year, the Auditor-General must:

(a) inspect and audit:

(i) the accounts and records of the Fund’s financial transactions; and

(ii) the records relating to assets of the Fund; and

(b) report to the Minister the results of the inspection and audit.

(2) The Auditor-General may, however, decide to dispense with all or any part of the detailed inspection and audit of the accounts and records.

(3) The Auditor-General must, as soon as practicable, report to the Minister any irregularity disclosed by the inspection and audit that the Auditor-General thinks is sufficiently important to be reported.

Note: For the information-gathering powers of the Auditor-General, see Part 5 of the Auditor-General Act 1996.

Superannuation Act 1990

1133 At the end of section 21

Add:

(4) The Board is not a Commonwealth authority for the purposes of the Commonwealth Authorities and Companies Act 1996.

1134 Section 27

Repeal the section, substitute:

27 Banking

(1) The Board must pay all money received by it in respect of the PSS Fund into an account maintained by it with a bank.

(2) In this section:

bank means a person who carries on the business of banking, either in Australia or outside Australia.

27A Accounting records

(1) The Board must keep proper accounts and records of the PSS Fund’s transactions and affairs in accordance with the accounting principles generally applied in commercial practice.

(2) The Board must do all things necessary to ensure that:

(a) all payments out of the PSS Fund are correctly made and properly authorised; and

(b) adequate control is maintained over the assets of the PSS Fund and over the incurring of liabilities by the Board in respect of the PSS Fund.

(3) If a requirement of this section is contravened, each member of the Board who intentionally:

(a) caused the contravention; or

(b) failed to take all reasonable steps to comply with the requirement, or secure compliance with the requirement;

is guilty of an offence.

Penalty for contravention of subsection (3): Imprisonment for 6 months.

27B Audit

(1) At least once a year, the Auditor-General must:

(a) inspect and audit:

(i) the accounts and records of the PSS Fund’s financial transactions; and

(ii) the records relating to assets of the PSS Fund; and

(b) report to the Minister the results of the inspection and audit.

(2) The Auditor-General may, however, decide to dispense with all or any part of the detailed inspection and audit of the accounts and records.

Note: For the information-gathering powers of the Auditor-General, see Part 5 of the Auditor-General Act 1996.

Superannuation Industry (Supervision) Act 1993

1135 Section 234

Repeal the section, substitute:

234 Superannuation Protection Reserve

(1) This subsection establishes a reserve called the Superannuation Protection Reserve.

(2) The Reserve is a component of the Reserved Money Fund.

(3) So far as practicable, money in the Reserve that is not required for the purpose of making payments out of the Reserve must be invested under section 39 of the Financial Management and Accountability Act 1996.

(4) If income is received by the Commonwealth from the investment of money from the Reserve, an amount equal to the income must be transferred to the Reserve from the Consolidated Revenue Fund.

1136 Paragraph 235(1)(b)

Omit “Superannuation Protection Account”, substitute “Reserve”.

1137 Section 236

Omit “Account” (wherever occurring), substitute “Reserve”.

Note: The heading to section 236 is altered by omitting “Account” and substituting “Reserve”.

1138 Section 237

Omit “Account” (wherever occurring), substitute “Reserve”.

Note: The heading to section 237 is altered by omitting “Account” and substituting “Reserve”.

Surplus Revenue Act 1908

1139 Section 5

Repeal the section.

Taxation (Interest on Overpayments and Early Payments) Act 1983

1140 Subsection 3(3)

Repeal the subsection.

Telstra Corporation Act 1991

1141 Subsections 36(1) and (2)

Repeal the subsections.

Note: The heading to section 36 is replaced by the heading “Audit”.

Therapeutic Goods Act 1989

1142 Section 45

Repeal the section, substitute:

45 Therapeutic Goods Administration Reserve

(1) This subsection establishes a reserve called the Therapeutic Goods Administration Reserve.

(2) The Reserve is a component of the Reserved Money Fund.

(3) Money standing to the credit of the Therapeutic Goods Administration Trust Account immediately before the commencement of the Audit (Transitional and Miscellaneous) Amendment Act 1996 must be transferred to the Reserve.

(4) There must be transferred to the Reserve from the Consolidated Revenue Fund:

(a) money appropriated by the Parliament for the purposes of the Reserve; and

(b) amounts equal to amounts received by the Commonwealth by way of annual registration charge, annual listing charge and annual licensing charge; and

(d) amounts equal to money received by the Commonwealth in relation to property paid for with money from the Reserve; and

(e) amounts equal to money received by the Commonwealth for services provided or to be provided, by or on behalf of the Commonwealth, using money from the Reserve (including amounts received by way of fees payable under the regulations); and

(f) amounts equal to donations for the furtherance of a purpose of the Reserve that are received by the Commonwealth; and

(g) amounts equal to receipts relating to the recovery of debts (other than debts in respect of statutory fines and penalties) by the Commonwealth that are associated with expenditure of money from the Reserve.

(5) The purposes of the Reserve are to make payments:

(a) to further the objects of this Act (as set out in section 4); and

(b) to enable the Commonwealth to participate in the international harmonisation of regulatory controls on therapeutic goods and other related activities.

Tobacco Marketing Act 1965

1143 Section 4 (definition of approved bank)

Repeal the definition.

1144 Section 4 (definition of the Auditor-General)

Repeal the definition.

1145 At the end of subsection 5(2)

Add:

1146 After section 5

Insert:

5A Committee’s financial year starts on 1 January

For the purposes of the Commonwealth Authorities and Companies Act 1996, the Committee’s financial year is a period of 12 months starting on 1 January.

1147 Section 20

Repeal the section.

1148 At the end of section 21

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Committee under section 18 of the Commonwealth Authorities and Companies Act 1996.

1149 Sections 22, 23, 24 and 26

Repeal the sections.

Trade Practices Act 1974

1150 Section 20

Repeal the section.

University of Canberra Act 1989

1151 At the end of subsection 4(3)

Add:

1152 After section 4

Insert:

4A Modification of the Commonwealth Authorities and Companies Act 1996

(1) Sections 14 and 28 of the Commonwealth Authorities and Companies Act 1996 do not apply to the University.

4B University’s financial year starts on 1 January

For the purposes of the Commonwealth Authorities and Companies Act 1996, the University’s financial year is a period of 12 months starting on 1 January.

1153 Paragraph 7(2)(n)

Repeal the paragraph.

1154 Subsection 7(3)

After “this Act”, insert “or the Commonwealth Authorities and Companies Act 1996”.

1155 Section 14

Repeal the section.

1156 Paragraph 15(1)(e)

Omit “subsection 14(1)”, substitute “section 21 of the Commonwealth Authorities and Companies Act 1996”.

1157 At the end of section 33

Add:

(2) Subsection (1) does not prevent the investment of surplus money of the University under section 18 of the Commonwealth Authorities and Companies Act 1996.

1158 Sections 35, 36, 37 and 39

Repeal the sections.

1159 Subsection 40(1)

After “this Act” (first occurring), insert “or the Commonwealth Authorities and Companies Act 1996”.

1160 Subparagraph 40(2)(e)(iii)

Repeal the subparagraph, substitute:

(iii) disclosure of pecuniary interests at meetings of the Board; and

Vocational Education and Training Funding Act 1992

1161 Subsection 13(2)

Omit “section 49 of the Audit Act 1901”, substitute “section 54 of the Financial Management and Accountability Act 1996”.

Wheat Marketing Act 1989

1162 Subsection 3(1) (definition of Board auditor)

Repeal the definition.

1163 At the end of subsection 4(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to the Board. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

1164 At the end of section 8

Add:

(4) This section does not affect the application of section 28 of the Commonwealth Authorities and Companies Act 1996 in relation to the Board”.

1165 Section 11

Omit “89(5)”, substitute “9(3) of the Commonwealth Authorities and Companies Act 1996”.

1166 Subparagraph 20(2)(a)(ii)

Omit “21”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

1167 Subsections 21(1), (2) and (3)

Repeal the subsections.

1168 Subsection 21(4)

Omit “This section does not apply to a pecuniary”, substitute “Section 21 of the Commonwealth Authorities and Companies Act 1996 does not apply to a material personal”.

1169 Subsections 67(1), (2) and (3)

Repeal the subsections.

Note: The heading to section 67 is replaced by the heading “Accounting for dealings in wheat”.

1170 Subsections 67(5), (6) and (7)

Repeal the subsections.

1171 Section 68

Repeal the section.

1172 At the end of section 69

Add:

(2) Subsection (1) does not prevent investment of surplus money of the Board under subsection 19(3) of the Commonwealth Authorities and Companies Act 1996.

1173 Subsection 70(1)

Repeal the subsection, substitute:

(1) Subsection 19(3) of the Commonwealth Authorities and Companies Act 1996 does not apply to pool funds.

Note: The heading to section 70 is altered by adding at the end “of pool funds”.

1174 Subsections 70(3) and (4)

Repeal the subsections, substitute:

(3) Pool funds not immediately required for the purposes of the Board may be invested in the ways described in subsection 18(3) of the Commonwealth Authorities and Companies Act 1996.

1175 After section 88

Insert:

88A Board’s financial year starts on 1 October

For the purposes of the Commonwealth Authorities and Companies Act 1996, the Board’s financial year is a period of 12 months starting on 1 October.

1176 Subsections 89(1) and (2)

Repeal the subsections.

1177 Subsection 89(3)

Omit “Without limiting the generality of subsection (1), the Board shall include in each report under that subsection”, substitute “In each report on the Board under section 9 of the Commonwealth Authorities and Companies Act 1996, the members must include”.

1178 Subsection 89(4)

Omit “referred to in subsection (1)”, substitute “for the Board that are referred to in clauses 1 and 2 of the Schedule to the Commonwealth Authorities and Companies Act 1996”.

1179 Subsections 89(5) and (6)

Repeal the subsections.

1180 Subsection 93(11)

Repeal the subsection.

Wool International Act 1993

1181 At the end of subsection 7(2)

Add:

Note: The Commonwealth Authorities and Companies Act 1996 applies to Wool International. That Act deals with matters relating to Commonwealth authorities, including reporting and accountability, banking and investment, and conduct of officers.

1182 Section 25

Repeal the section, substitute:

25 Situations that do not amount to interests requiring disclosure

For the purposes of section 21 of the Commonwealth Authorities and Companies Act 1996, a member is not taken to have a material personal interest in a matter being considered or about to be considered by Wool International merely because the member is a wool producer, a wool processor or a manufacturer of wool products.

1183 Paragraph 28(2)(c)

Omit “25”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

1184 Paragraph 36(3)(c)

Omit “25”, substitute “21 of the Commonwealth Authorities and Companies Act 1996”.

1185 At the end of section 49

Add:

(2) Subsection (1) does not prevent investment of surplus money of Wool International under section 19 of the Commonwealth Authorities and Companies Act 1996.

1186 Subsection 50(1)

Repeal the subsection.

1187 Subsection 55(1)

Omit “with a bank or banks”, substitute “maintained under subsection 19(2) of the Commonwealth Authorities and Companies Act 1996”.

1188 Subsection 55(2)

Repeal the subsection.

1189 Section 56

Repeal the section.

1190 Part 8

Repeal the Part.

1191 Section 67

Repeal the section, substitute:

67 Extra matters to be included in annual report

The annual report on Wool International under section 9 of the Commonwealth Authorities and Companies Act 1996 must also include such particulars (if any) as are prescribed.

1192 Subsection 69(2)

Omit “, Part 8”.

1193 Section 85

Omit “under section 50 of this Act, as in force immediately before the commencement of this Part,”, substitute “in relation to Wool International under a previous accounting requirement”.

1194 At the end of section 85

Add:

(2) In this section:

previous accounting requirement means:

(a) subsection 50(1) of this Act as in force immediately before its repeal by the Audit (Transitional and Miscellaneous) Amendment Act 1996; or

(b) section 20 of the Commonwealth Authorities and Companies Act 1996.

1195 Subsection 86(2)

Omit “under section 67 of this Act, as in force immediately before the commencement of this Part,”, substitute “in relation to Wool International under a previous reporting requirement”.

1196 At the end of section 86

Add:

(3) In this section:

previous reporting requirement means:

(a) section 67 of this Act as in force immediately before its repeal by the Audit (Transitional and Miscellaneous) Amendment Act 1996; or

(b) section 9 of the Commonwealth Authorities and Companies Act 1996.

Schedule 3—Amendment of Acts to update references and make other changes

Air Services Act 1995

1 Subsection 2(2), section 13, subsection 16(6), the notes at the end of subsections 17(3) and (4), paragraph 32(2)(d), subparagraphs 32(5)(b)(i) and (ii) and section 51

Omit “1995” (wherever occurring), substitute “1996”.

Australian Law Reform Commission Act 1996

2 Subsection 5(2) (note)

Omit “executive”.

Australian Maritime Safety Authority Act 1990

3 Paragraph 10(2)(f)

Repeal the paragraph.

Civil Aviation Legislation Amendment Act 1995

4 Subsections 2(2) and (3)

Repeal the subsections, substitute:

(2) Section 4 and Schedule 2 commence on the same day as the Commonwealth Authorities and Companies Act 1996 commences.

5 Section 6

Repeal the section.

6 Section 7 (definition of CAC Act) and items 1, 3, 5, 7, 10 and 11 of Schedule 2

Omit “1995” (wherever occurring), substitute “1996”.

7 Subsection 18(3) (definition of pre-CAC rules)

After “sections”, insert “14, 15, 40,”.

8 Subsection 18(3) (definition of pre-CAC rules)

Omit “and 64”, substitute “, 64 and 65”.

9 Schedule 4

Repeal the Schedule.

Commonwealth Funds Management Limited Act 1990

10 Section 45

Repeal the section.

Ozone Protection Amendment Act 1995

11 Part 2 of Schedule 1

Repeal the Part.

12 Items 56 and 57 of Schedule 1

Repeal the items.

13 Item 58 of Schedule 1

Omit “If this Part applies, the”, substitute “The”.

14 Items 59 and 60 of Schedule 1

Repeal the items.

15 Item 61 of Schedule 1

Omit “If this Part applies, the”, substitute “The”.

16 Item 61 of Schedule 1

Omit “Financial Management and Accountability Act”, substitute “Financial Management and Accountability Act 1996”.

17 Item 63 of Schedule 1 (definition of Transitional Provisions Act in new section 65A)

Repeal the definition.

18 Item 63 of Schedule 1 (new subsection 65B(5))

Omit “Transitional Provisions Act”, substitute “Audit (Transitional and Miscellaneous) Amendment Act 1996”.

Small Superannuation Accounts Act 1995

19 Subsection 8(2)

Omit “1995” (wherever occurring), substitute “1996”.

20 Subsection 8(2) (note1)

Omit “40”, substitute “39”.

21 At the end of subsection 8(2)

Add:

Note 3: Before the commencement of the Financial Management and Accountability Act 1996, the Reserve was a trust account for the purposes of section 62A of the Audit Act 1901.

22 Subsection 8(3)

Repeal the subsection, substitute:

Transitional—appropriation

(3) The Trust Fund established by the Audit Act 1901 is appropriated to the extent necessary to achieve the transition of the Reserve from the scheme of the Audit Act 1901 to the scheme of the Financial Management and Accountability Act 1996.

23 Subsection 10(2)

Repeal the subsection.

24 Subsection 19(1)

Omit “1995”, substitute “1996”.

25 Subsection 19(3)

Repeal the subsection.

26 Subsection 33(1)

Omit “1995”, substitute “1996”.

27 Subsection 33(3)

Repeal the subsection.

28 Section 95

Repeal the section.

Transport Legislation Amendment Act 1995

29 Subsection 2(2)

Repeal the subsection.

30 Subsection 2(4)

Omit “1995”, substitute “1996”.

31 Part B of Schedule 1

Repeal the Part.

32 Items 4, 5 and 7 of Part C of Schedule 1

Omit “1995” (wherever occurring), substitute “1996”.

Schedule 4—Transitional matters and regulations

1 This Schedule binds the Crown

This Schedule binds the Crown in right of the Commonwealth, but does not make the Crown liable to be prosecuted for an offence.

2 This Schedule extends to things outside Australia

This Schedule extends to acts, omissions, matters and things outside Australia.

3 Interpretation

In this Schedule, unless the contrary intention appears:

Audit Act means the Audit Act 1901.

Commercial Activities Fund means the Commercial Activities Fund established by the Financial Management and Accountability Act 1996.

Finance Minister means the Minister who administers this Act.

new Loan Fund means the Loan Fund established by the Financial Management and Accountability Act 1996.

old Loan Fund means the Loan Fund established by the Audit Act.

old Trust Fund means the Trust Fund established by the Audit Act.

replacement Acts means the Auditor-General Act 1996, the Financial Management and Accountability Act 1996 and the Commonwealth Authorities and Companies Act 1996.

Reserved Money Fund means the Reserved Money Fund established by the Financial Management and Accountability Act 1996.

4 Transfers from old Funds to new Funds

(1) Money in the old Loan Fund immediately before the commencement of this Schedule must be transferred to the new Loan Fund.

(2) If:

(a) immediately before the commencement of this Schedule, money was in an account (however described) that was established or continued in existence by an Act that is amended by Schedule 2 to this Act; and

(b) that account formed part of the old Trust Fund;

the money must be transferred from that account to the component of the Reserved Money Fund that is established to replace that account.

(3) If an amendment made by Schedule 2 substitutes a component of the Reserved Money Fund for an account (however described), any reference in any Act or other instrument to that component is to be read as including a reference to the account for which it is substituted, unless the context otherwise requires.

(4) Money in the old Trust Fund immediately before the commencement of this Schedule (other than money covered by subitem (2)) must be transferred to components of the Reserved Money Fund and Commercial Activities Fund that are established by determinations under subsections 20(2) and 21(2) of the Financial Management and Accountability Act 1996.

(5) The disallowance rules in section 22 of the Financial Management and Accountability Act 1996 do not apply to an original determination made for the purposes of subitem (4) of this item. However, the disallowance rules do apply to any revocation or variation of an original determination.

(6) The old Loan Fund and the old Trust Fund are appropriated for the purposes of this item.

5 Auditor-General

The person holding office as Auditor-General under the Audit Act immediately before the commencement of this Schedule holds office after the commencement of this Schedule as if the person had been properly appointed as Auditor-General under the Auditor-General Act 1996 for the remainder of the period of 10 years that started when the person was appointed under the Audit Act.

6 Independent Auditor

(1) This item applies if, immediately before the commencement of this Schedule, an arrangement was in operation under section 48K of the Audit Act for a person to perform the functions of the Independent Auditor under the Audit Act.

(2) The person is taken to be properly appointed on the commencement of this Schedule as the Independent Auditor under the Auditor-General Act 1996.

(3) The appointment is for a term that commences on the commencement of this Schedule and ends on the expiry of the arrangement referred to in subitem (1).

(4) While the person holds office as Independent Auditor in accordance with this item, the person is entitled to be paid fees and allowances in accordance with the arrangement referred to in subitem (1), but is not entitled to be paid fees or allowances under clause 3 of Schedule 2 to the Auditor-General Act 1996.

7 Exempt accounts

(1) In this item:

preserved provisions means section 70D of the Audit Act and the regulations made for the purposes of that section.

replacement provisions means section 56 of the Auditor-General Act 1996, section 46 of the Commonwealth Authorities and Companies Act 1996 and section 58 of the Financial Management and Accountability Act 1996.

(2) The preserved provisions continue to have effect until the first regulations are in operation for the purposes of the replacement provisions.

(3) If those first regulations, or any of them, are later disallowed by a House of the Parliament, the preserved provisions continue to have effect, to the extent that they cover matters no longer covered by regulations in operation under the replacement provisions, until further regulations are in operation under those provisions that cover those matters.

8 Regulations

(1) The Governor-General may make regulations prescribing matters:

(a) required or permitted by this Act to be prescribed; or

(b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.

(2) In particular, regulations may be made:

(a) providing for bank accounts under section 21 of the Audit Act to continue in effect as official accounts for the purposes of the Financial Management and Accountability Act 1996; and

(b) for other transitional matters arising out of the repeal of the Audit Act or the enactment of the replacement Acts, or the transition from the Audit Act to the replacement Acts; and

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Commonwealth of Australia Bills

AUDIT (TRANSITIONAL AND MISCELLANEOUS) AMENDMENT BILL 1996

1 Short title

2 Commencement

3 Schedule(s)

4 Some amendments in Schedule 2 may not take effect or may take effect in a modified way

Schedule 1—Repeal of the Audit Act 1901

Schedule 2—Consequential amendments of Acts

193K Modifications of Commonwealth Authorities and Companies Act

19A Application of the Commonwealth Authorities and Companies Act 1996 if Administrator appointed

75A Disclosure of interest by Administrator of Aboriginal Council

4A Who are directors for the purposes of the Commonwealth Authorities and Companies Act 1996?

52 Annual report to be laid before meeting of Council

Part VI—Funding

22A Who are directors for the purposes of the Commonwealth Authorities and Companies Act 1996?

37 Additional reporting requirements

Part VI—Aboriginals Benefit Reserve

24R Annual report

9A Commonwealth Authorities and Companies Act 1996 does not apply to Corporation

6A Commonwealth Authorities and Companies Act 1996 does not apply to Board

38 Extra reporting requirements

Part IV—Australia-Japan Reserve

17 Establishment of Reserve

25 Annual report

34 Payments into Reserve

39 Annual report

19 Application of section 21 of the Commonwealth Authorities and Companies Act 1996 to deemed and co-opted Commissioners

43 Extra reporting requirements

30A Corporation to give Minister annual reports on Product Boards

101A Modification of the Commonwealth Authorities and Companies Act 1996

5A Modification of the Commonwealth Authorities and Companies Act 1996—how that Act applies to subsidiaries

37A Information about the receiving subsidiary

Part 2—Australian Land Transport Development Reserve

23 Application of the Commonwealth Authorities and Companies Act

4A Modification of the Commonwealth Authorities and Companies Act 1996

4B University’s financial year starts on 1 January

37R Application of the Commonwealth Authorities and Companies Act 1996

37U Tabling of reports and documents given to the Minister by the Bureau

71 Disclosure not required in relation to publicly available goods or services

138 Extra matters to be included in annual report

89 Extra matters to be included in annual report

18AA Commonwealth Authorities and Companies Act 1996 does not apply to Official Trustee

20G Common Investment Fund Equalization Reserve

6A Commonwealth Authorities and Companies Act 1996 does not apply to Board

43 Copy of annual report also to be given to State and Northern Territory Ministers and Auditors-General

35 Situations that do not amount to interests requiring disclosure

85 Investment of money standing to credit of a relevant fund

107 Extra matters to be included in annual report

38S Annual report

65 Extra matters to be included in annual report

18S Annual report

64A Disclosure of interests of members of management advisory committees

5 Forestry Reserve

9A Modification of the Commonwealth Authorities and Companies Act 1996

42 Extra matters to be included in annual report

Part 4.3—Higher Education (HECS) Reserve

39 Extra matters to be included in annual report

40 A Minister cannot require reports etc. about affairs of a particular person

Part IV—Interstate Road Transport Reserve

21 Interstate Road Transport Reserve

89A Establishment of Lands Acquisition Reserve

5 Payments to Reserve

7 Establishment of Reserve

33 College’s financial year starts on 1 January

32 Situations that do not amount to interests requiring disclosure

112 Situations that do not amount to interests requiring disclosure

191 Situations that do not amount to interests requiring disclosure

25 Banking

25A Accounting records

25B Audit

4 Establishment of Reserve

59 Application of the Commonwealth Authorities and Companies Act 1996

40 Extra matters to be included in annual report

82BA Modification of the Commonwealth Authorities and Companies Act 1996

82CA Disclosure of interests by Commissioner

82ZRAA Commonwealth Authorities and Companies Act 1996 applies as though Complaints Commissioner were a director

82ZUBA Disclosure of interest by Complaints Commissioner

Part 7—Medical Research Endowment Reserve

49 Establishment of Reserve

50 Payments into Reserve

19A **Application of the Commonwealth Authorities and Companies Act 1996 if Administrator appointed**

22A **Who are directors for the purposes of the Commonwealth Authorities and Companies Act 1996?**