Commonwealth Numbered Regulations - Explanatory Statements

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FINANCIAL MANAGEMENT AND ACCOUNTABILITY AMENDMENT REGULATIONS 1999 (NO. 4) 1999 NO. 108

STATUTORY RULES 1999 No. 108

Issued by the authority of the Minister for Finance and Administration

Financial Management and Accountability Act 1997

Financial Management and Accountability Amendment Regulations 1999 (No. 4)

The attached Statutory Rules make regulations under subsection 65(1) of the Financial Management and Accountability Act 1997 (the Act) to amend the Financial Management and Accountability Regulations.

The amendment is to the Schedule to the regulations which lists the Agencies which are prescribed for the purposes of the definition of "Agency" in section 5 of the Act. In addition to Departments of State and Departments of the Parliament, section 5 of the Act includes in the definition of "Agency", "a prescribed Agency", being an organisational unit which is to be regarded, for the purposes of the Act, as a separate Agency from the Department of State within the portfolio. Regulation 5 prescribes all such Agencies by reference to the Schedule to the regulations. The Schedule names those Agencies, defines the persons which they comprise and specifies the Agency Chief Executive.

Details of the regulation are as follows:

Regulation 1

This advises that the name of the regulations is the Financial Management and Accountability Amendment Regulations 1999 (No.4)

Regulation 2

This provides that the amendments are to commence on 1 July 1999.

Regulation 3

This provides that Schedule 1 amends the Financial Management and Accountability Regulations 1997.

Schedule 1

Schedule 1, Part 1, Item 114AA

This inserts a new Item 114AA in Schedule 1 to make the Australian Office of Financial Management (AOFM) a prescribed agency.