Australian Capital Territory Current Acts

FINANCIAL MANAGEMENT ACT 1996 - SECT 14A

    (1)     Despite section 6 (Necessity for appropriation), the Treasurer may, in writing, direct that an appropriation for capital injection for an entity be varied by a transfer of funds from that appropriation to an appropriation for—

        (a)     controlled recurrent payments for the entity; or

        (b)     payments to be made on behalf of the Territory for the entity.

    (2)     If the transfer would cause the appropriation for the capital injection to be reduced by—

        (a)     up to 5% or $500 000, whichever is the greater—the Treasurer must attach a copy of the direction to the next financial statement presented to the Legislative Assembly; or

        (b)     more than 5% or $500 000, whichever is the greater—the direction is a disallowable instrument.

Note 1     For the presentation of financial statements, see s 26.

Note 2     A disallowable instrument must be notified, and presented to the Legislative Assembly, under the Legislation Act

.

    (3)     In this section:

"appropriation for capital injection" means an appropriation for capital injection made by an Appropriation Act in a financial year or, if the appropriation is amended during the financial year, the appropriation as amended.