Commonwealth Numbered Regulations - Explanatory Statements

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FINANCIAL MANAGEMENT AND ACCOUNTABILITY AMENDMENT REGULATIONS 2000 (NO. 3) 2000 NO. 200

STATUTORY RULES 2000 No. 200

Issued by the Authority of the Minister for Finance and Administration

Financial Management and Accountability Act 1997

Financial Management and Accountability Amendment Regulations 2000 (No. 3)

Subsection 65(1) of the Financial Management and Accountability Act 1997 (the Act) provides that the Governor-General may make regulations prescribing matters required or permitted by the Act to be prescribed, or necessary or convenient to be prescribed for carrying out or giving effect to the Act.

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

The Regulations amend Schedule 1 to the Principal 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 of the Principal Regulations 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 regulations are as follows:

Regulation 1

This advises that the name of the regulations is the Financial Management and Accountability Amendment Regulations 2000 (No. 3).

Regulation 2

This provides that the amendments are to commence on gazettal.

Regulation 3

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

Schedule 1

[1] Schedule 1, after item 122

This item inserts a new item 122A in Schedule 1 to make the Dairy Adjustment Authority a prescribed agency. Having regard to the nature and operation of the Dairy Adjustment Authority, it is considered appropriate that it should be financially independent of the Department of Agriculture, Fisheries and Forestry for the purposes of the Act.

[2] Schedule 1, item 126

This substitutes a new item for the Insolvency and Trustee Service to specify a "Chief Executive" for the Agency instead of the "Inspector-General in Bankruptcy".