Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The provisions of the Public Governance, Performance and Accountability Act 2013 referred to in subsection (2) have effect as if:
(a) the Board and the Agency were a single Commonwealth entity; and
(b) the Chair were the accountable authority of that single Commonwealth entity; and
(c) an annual report given to the Minister under section 46 of that Act were an annual report for that single Commonwealth entity; and
(d) the nominated Minister were the responsible Minister; and
(e) if the Agency is a listed entity for the purposes of that Act--the Agency were not a Commonwealth entity in its own right.
Note: The Board is not a Commonwealth entity (see subsection 10(2) of the Public Governance, Performance and Accountability Act 2013 ).
(2) The provisions of the Public Governance, Performance and Accountability Act 2013 are the following:
(a) Division 3 of Part 2 - 3 (which deals with performance of Commonwealth entities);
(b) Division 4 of Part 2 - 3 (which deals with financial reporting and auditing for Commonwealth entities), except section 44;
(c) Division 5 of Part 2 - 3 (which deals with audit committees for Commonwealth entities);
(d) Division 6 of Part 2 - 3 (which deals with annual reports for Commonwealth entities).
Note: This means, for example, that there will be:
(a) a single set of accounts and records for both the Board and the Agency; and
(b) a single set of annual financial statements in relation to both the Board and the Agency; and
(c) auditing of the single set of annual financial statements; and
(d) a single audit committee for both the Board and the Agency.