Australian Capital Territory Current Acts

FINANCIAL MANAGEMENT ACT 1996

TABLE OF PROVISIONS

           Long Title

   PART 1--PRELIMINARY

   1.      Name of Act  
   2.      Act subject to Territory Superannuation Provision Protection  
   3.      Dictionary  
   3A.     Notes  
   3B.     Declaration that certain bodies are not territory authorities for Act  
   4.      Application of pts 2 to 5—Office of the Legislative Assembly and officers of the  

   PART 2--BUDGET MANAGEMENT

           Division 2.1--Appropriations and budgets

              Subdivision 2.1.1--Appropriations and budgets—generally

   5.      Timing of first Appropriation Bill for financial year  
   6.      Necessity for appropriation  
   7.      Payments authorised on lapse of appropriation  
   7A.     Temporary advance for new purpose or new entity  
   8.      Form of appropriations  
   9.      Net controlled recurrent payments  
   9A.     Net appropriations for capital injections  
   9B.     Appropriations for payments on behalf of Territory to be net  
   10.     Budget papers  
   11.     Territory budgets  
   11A.    Financial policy objectives and strategies statement  
   12.     Directorate budgets  
   12AA.   Territory authority budgets  
   12A.    Territory-owned corporation budgets  
   13.     Supplementary budget papers  
   13A.    Amendment of budgets for supplementary appropriation  
   14.     Transfer of funds between appropriations  
   14A.    Transfer of funds from capital injection appropriation to other  
   14B.    Transfer of funds from other appropriations to capital injection  
   15A.    Reclassification of certain appropriations  
   16.     Transfer of functions to another entity  
   16A.    Appropriation for accrued employee entitlements  
   16B.    Rollover of undisbursed appropriation  
   17.     Variation of appropriations for Commonwealth grants  
   17A.    Variations of appropriations for certain payments to Commonwealth  

              Subdivision 2.1.2--Treasurer's advances

   18.     Treasurer's advance  
   18A.    Treasurer's advance—payment pending supplementary appropriation  
   18B.    Treasurer's advance—reduction of amounts  
   18C.    Assembly to be told about Treasurer's advance  

              Subdivision 2.1.3--Capital works reserve

   18D.    Capital works reserve—appropriation  
   18E.    Capital works reserve—authorising payments from reserve  
   18F.    Capital works reserve—reducing partially unused payments  
   18G.    Capital works reserve—Treasurer must notify Assembly  

              Subdivision 2.1.4--Appropriations and budgets—other matters

   19.     Refunds of payments made without liability  
   19A.    Payments for Territory GST liabilities  
   19AA.   Payments for Territory GST administration costs  
   19B.    Authorisation of appropriation for certain Commonwealth grants  
   19C.    Amendment of capital injection conditions  
   19D.    Amendment of performance criteria  
   20.     Recommended appropriation for Office of the Legislative Assembly  
   20AA.   Appropriation for Office of the Legislative Assembly  
   20AB.   Recommended appropriation for officers of the Assembly  
   20AC.   Appropriation for officers of the Assembly  

           Division 2.2--Budget reviews and pre-election updates

   20A.    Budget review  
   20B.    Purpose and contents of budget review  
   20C.    Pre-election budget update  
   20D.    Purpose and contents of pre-election budget update  

   PART 3--FINANCIAL REPORTS

           Division 3.1--Financial reports of the Territory

   21.     Meaning of the Territory in div 3.1  
   22.     Annual financial statements of the Territory  
   23.     Responsibility for annual financial statements  
   24.     Audit of annual financial statements  
   25.     Presentation of annual financial statements to Legislative Assembly  
   26.     Periodic financial statements  

           Division 3.2--Financial reports and performance statements of directorates

   27.     Annual financial statements of directorates  
   28.     Responsibility for annual financial statements of directorates  
   29.     Audit of financial statements of directorates  
   30.     Directorate annual financial statements to be included in annual reports  
   30A.    Statements of performance of directorates  
   30B.    Responsibility for directorate statements of performance  
   30C.    Scrutiny of directorate statements of performance  
   30D.    Directorate statements of performance to be included in annual reports  
   30E.    Half-yearly directorate performance reports  

           Division 3.3--Capital works reports

   30F.    Capital works report of Territory  

   PART 4--FINANCIAL MANAGEMENT RESPONSIBILITIES OF DIRECTORS-GENERAL OF DIRECTORATES

   31.     Responsibilities of directors-general of directorates  
   31A.    Directors-general may enter into contracts etc  

   PART 5--BANKING AND INVESTMENT

   32.     Agreement for the conduct of banking for Territory  
   33.     Territory banking account  
   34.     Directorate banking accounts  
   34A.    Transfer of directorate banking account  
   34B.    End of year balances of directorate banking accounts  
   35.     Payments into banking accounts  
   36.     Transfer following change in directorate responsibilities  
   36A.    Transfers from directorate banking accounts to territory banking  
   37.     Payments from territory banking account  
   37A.    Payments into territory banking account  
   38.     Investment of certain public money  

   PART 6--BORROWING AND GUARANTEES

   39.     Power of Territory to borrow  
   40.     Treasurer may borrow on behalf of Territory  
   41.     Power of territory authorities to borrow  
   42.     Borrowings by territory authorities to be approved  
   43.     Territory authorities may give security  
   44.     Power to approve borrowings not delegable  
   45.     Loans to be paid into territory banking account  
   46.     Payments by Treasurer  
   47.     Guarantees by Territory  

   PART 7--TRUST MONEY

   49.     Identity of trust money  
   50.     Administration of trust money  
   51.     Directorate trust banking accounts  
   51A.    Transfer of directorate trust banking accounts  
   51B.    Transfers between trust banking accounts—changes in directorate  
   51C.    Transfers between trust banking accounts—investment  
   52.     Transfers between trust banking account and territory banking account  
   53.     Investment of trust money  
   53A.    Unclaimed trust money  
   53B.    Reviewable decision notices  
   53C.    Applications for review  

   PART 8--FINANCIAL PROVISIONS FOR TERRITORY AUTHORITIES

   54.     Application––pt 8  
   55.     Responsibilities of chief executive officers of territory authorities  
   56.     Responsibilities of governing boards of territory authorities  
   57.     Banking accounts of territory authorities  
   58.     Investment by territory authorities  
   59.     Borrowing by territory authorities  
   60.     Guarantees by territory authorities  
   61.     Territory authority statements of intent  
   62.     Presentation of statements of intent of territory authorities  
   63.     Annual financial statements of territory authorities  
   64.     Responsibility for annual financial statements of territory authorities  
   65.     Audit of annual financial statements of territory authorities  
   66.     Annual financial statements of territory authorities to be included in annual reports  
   67.     Treasurer may require interim financial statements etc for territory  
   68.     Statements of performance of territory authorities  
   69.     Responsibility for territory authority statements of performance  
   70.     Scrutiny of territory authority statements of performance  
   71.     Territory authority statements of performance to be included in annual reports  

   PART 9--GOVERNANCE OF TERRITORY AUTHORITIES

           Division 9.1--Definitions and important concepts

   72.     Definitions—pt 9  
   73.     Nature of relevant territory authorities  
   74.     Powers of territory authorities generally  
   75.     Execution of documents and assumptions people dealing with relevant territory authority  
   76.     Governing board of territory authority  
   77.     Role of governing board  

           Division 9.2--Governing board member appointments

   78.     Appointment of governing board members generally  
   79.     Appointment of chair and deputy chair  
   80.     Appointment of CEO of authority with governing board  
   81.     Ending board member appointments  

           Division 9.3--Functions of governing board members

   82.     Chair's functions  
   83.     Deputy chair's functions  
   84.     CEO's functions  
   85.     Honesty, care and diligence of governing board members  
   86.     Conflicts of interest by governing board members  
   87.     Agenda to require disclosure of interest item  
   88.     Disclosure of interests by governing board members  
   89.     Reporting of disclosed governing board interests to Minister  
   90.     Protection of governing board members from liability  
   91.     Indemnification and exemption of governing board members  
   92.     Compensation for exercise of functions etc  

           Division 9.4--Governing board meetings

   93.     Time and place of governing board meetings  
   94.     Presiding member at governing board meetings  
   95.     Quorum at governing board meetings  
   96.     Voting at governing board meetings  
   97.     Conduct of governing board meetings etc  

           Division 9.5--Requirements and obligations for territory authorities

   98.     Limitations on authorities forming corporations etc  
   99.     Limitations on authorities taking part in joint ventures and trusts  
   100.    Corporations, joint ventures and trusts in which authority has interest  
   101.    Obligation of authorities to tell Minister about significant events  
   102.    Ministerial directions to authorities about financial etc statements  
   103.    Application of government policies to authorities  

           Division 9.6--Restructuring of territory authorities

   104.    Purpose of div 9.6  
   105.    What territory authorities does div 9.6 apply to?  
   106.    Responsible Minister may direct div 9.6 authority to sell or transfer  
   107.    Transfer of assets by declaration—div 9.6 authorities  
   108.    Transfer of contractual rights and liabilities by declaration—div 9.6  
   109.    Transfer of liabilities by declaration—div 9.6 authorities  
   110.    Assistance given by authorities for div 9.6  
   111.    Assistance given by governing board members for div 9.6  
   112.    Use of information by Territory and div 9.6 authorities  
   113.    Contracts relating to the protection of information—responsible Minister for div 9.6  
   114.    Contracts relating to the protection of information—div 9.6  
   115.    Transfer of pending proceedings—div 9.6 authorities  
   116.    Proceedings and evidence—div 9.6 authorities  
   117.    Operation of div 9.6 not breach of contract etc  
   118.    Transfer of assets etc not otherwise disposed of—div 9.6  
   119.    Annual reports etc for div 9.6 authorities  

           Division 9.7--Additional provisions for restructuring of certain territory authorities

   120.    What territory authorities does div 9.7 apply to?  
   121.    Definitions—div 9.7  
   122.    Vesting of assets, rights and liabilities—div 9.7 authorities  
   123.    Proceedings and evidence—div 9.7 authorities  
   124.    Annual reports and financial statements for div 9.7 authorities  
   125.    References to div 9.7 authority  

   PART 9A--INSOURCING FRAMEWORK

   126.    Meaning of public sector entity—pt 9A  
   127.    Responsible chief executive officer to ensure compliance with this part  
   128.    Insourcing framework  
   129.    Insourcing evaluation for services or works  

   PART 10--MISCELLANEOUS

   130.    Act of grace payments  
   131.    Waiver of debts etc  
   132.    Payments in relation to deceased estates  
   133.    Guideline-making power  
   134.    Regulation-making power  
           DICTIONARY
           ENDNOTES