FINANCIAL MANAGEMENT AND ACCOUNTABILITY ACT 1997 No. 154 of 1997 - SECT 23 Set-offs ignored for Fund accounting purposes

Commonwealth Numbered Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

FINANCIAL MANAGEMENT AND ACCOUNTABILITY ACT 1997 No. 154 of 1997 - SECT 23

Set-offs ignored for Fund accounting purposes (1) If a receipt has been reduced by a lawful set-off, a credit to a Fund for the receipt must nevertheless show the full amount of the receipt, unreduced by the set-off.

(2) If a payment has been reduced by a lawful set-off, a debit from a Fund for the payment must nevertheless show the full amount of the payment, unreduced by the set-off.

(3) In this section:

reduced includes reduced to nil.

AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback