Australian Capital Territory Current Acts

FINANCIAL MANAGEMENT ACT 1996 - SECT 18F

    (1)     This section applies if, in a financial year—

        (a)     the Treasurer has authorised a capital works advance for an entity; and

        (b)     the capital works advance has not been fully disbursed to the entity; and

        (c)     the Treasurer is satisfied that the undisbursed amount is no longer required by the entity.

    (2)     The Treasurer may, in writing, authorise a reduction of the amount of the capital works advance to the entity to the amount actually disbursed to the entity.

    (3)     If the Treasurer authorises a reduction, the capital works reserve for the financial year is taken to be restored by the amount of the reduction.