Australian Capital Territory Current Acts

FINANCIAL MANAGEMENT ACT 1996 - SECT 35

    (1)     All public money is the property of the Territory.

    (2)     If public money is received by a person other than for the purpose of making a payment in the course of his or her duties, the person must take reasonable steps to safeguard the money until it is paid into a banking account in accordance with this section.

    (3)     Money must be paid into a directorate banking account of a directorate if the money is—

        (a)     money that may be disbursed to the directorate as a consequence of an appropriation; or

        (b)     a receipt relating to the operations of the directorate; or

        (c)     a receipt relating to the sale or disposal of assets of the Territory held by the directorate.

    (4)     All public money, except money payable into a directorate banking account, must be paid into the territory banking account.

    (5)     The Treasurer may issue financial management guidelines regarding the banking of public money.