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This is a Bill, not an Act. For current law, see the Acts databases.
FINANCIAL MANAGEMENT AMENDMENT BILL 2004 (NO 2)
2004
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL
TERRITORY
(As presented)
(Treasurer)
Financial Management
Amendment Bill 2004 (No 2)
A Bill for
An Act to amend the
Financial Management Act
1996
The Legislative Assembly for the Australian Capital Territory enacts as
follows:
1 Name of Act
This Act is the Financial Management Amendment Act 2004 (No
2).
2 Commencement
This Act commences on the day after its notification day.
Note The naming and commencement provisions automatically commence
on the notification day (see Legislation Act, s 75 (1)).
3 Legislation amended
This Act amends the Financial Management Act 1996.
4 Section 18
substitute
18 Treasurer’s advance
(1) This section applies to expenditure that is—
(a) in excess of the amount specifically appropriated for expenditure of
that kind; or
(b) not provided for by an appropriation.
(2) The Treasurer may, in writing, authorise the appropriation
if—
(a) the Treasurer is satisfied that—
(i) there is an urgent need for the expenditure; and
(ii) the expenditure is not provided for, or is insufficiently provided
for, because of a prescribed circumstance; and
(b) the total expenditure authorised under this subsection in any
financial year does not exceed the amount appropriated for that year for this
section.
(3) The amount appropriated for this section for a financial year must not
exceed 1% of the total amount appropriated by all Appropriation Acts for that
year.
(4) The guidelines may prescribe when there is an urgent need for
expenditure for subsection (2) (a) (i).
(5) In this section:
expenditure means—
(a) a payment for, or entering into a contract to make a payment for, an
output delivery, including a payment for goods, services or grants; or
(b) a payment on behalf of the Territory, or entering into a contract to
make a payment on behalf of the Territory, including a payment for goods,
services or grants; or
(c) a payment from, or entering into a contract to make a payment from, a
capital injection.
prescribed circumstance—each of the following is a
prescribed circumstance in relation to expenditure:
(a) there was an erroneous omission or understatement in an
appropriation;
(b) the expenditure was unforeseen until after the last day when it was
practicable to provide for it in the relevant Appropriation Bill before the bill
was introduced into the Legislative Assembly.
relevant Appropriation Bill, for expenditure, means the
1st Appropriation Bill for the financial year
when the expenditure is to happen.
18A Assembly to be told about treasurer’s
advance
(1) This section applies if the Treasurer authorises expenditure under
section 18 for a financial year.
(2) Within 3 sitting days after the day when the authorisation is given,
the Treasurer must present to the Legislative Assembly—
(a) a copy of the authorisation; and
(b) a statement of the reasons for giving it; and
(c) a summary of the total expenditure authorised under section 18 for the
financial year to date.
(3) Within 3 sitting days after the end of the financial year, the
Treasurer must present to the Legislative Assembly a summary of the total
expenditure authorised.
5 Amendment of
budgets
Section 19F (2)
omit
18 (1)
substitute
18
Endnotes
1 Presentation speech
Presentation speech made in the Legislative Assembly on 2004.
2 Notification
Notified under the Legislation Act on 2004.
3 Republications of amended laws
For the latest republication of amended laws, see
www.legislation.act.gov.au.
© Australian Capital Territory
2004
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