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FINANCIAL MANAGEMENT AND ACCOUNTABILITY AMENDMENT REGULATIONS 2006 (NO. 5) (SLI NO 152 OF 2006)
EXPLANATORY STATEMENT
Select Legislative Instrument 2006 No. 152
Subject - Financial Management and Accountability Act 1997
Financial Management and Accountability Amendment Regulations 2006 (No. 5)
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 Act provides a framework of rules for the proper management of public money and public property that applies to Chief Executives and officials of Agencies.
Section 5 of the Act provides, in part, that for the purposes of the Act an "Agency" includes a prescribed Agency. Agencies are prescribed for the purposes of the Act in Schedule 1 to the Financial Management and Accountability Regulations 1997 (the Principal Regulations).
The Regulations:
* prescribed the Australian Trade Commission (Austrade) and the Australian Institute of Family Studies (AIFS) under the Act;
* amended the prescription of the Dairy Adjustment Authority (DAA) under the Act; and
* deleted the CSS Board and PSS Board as prescribed agencies under the Act and replaced them with the Australian Reward Investment Alliance (ARIA).
In accordance with the process set out in the Dairy Industry Adjustment Act 2000, the DAA's Board membership would be reduced from five members to one member. The single member would retain the same responsibilities under the Act for the proper management of public money and public property within his/her control or custody.
As an existing prescribed Agency under the Act, the DAA has phased-down its membership from five members to one member. The single member is responsible under the Act for the proper management of public money and public property within his/her control or custody.
The CSS and PSS Boards were agencies under the Act in relation to the public money they held. The Boards were replaced by a single Board, ARIA.
Further details of the Regulations are in the Attachment.
The Regulations are a legislative instrument for the purposes of the Legislative Instruments Act 2003.
The Regulations commenced on the following dates:
* the Schedule prescribing AIFS and removing the CSS Board and PSS Board as prescribed agencies and replacing them with ARIA commenced on 1 July 2006;
* the Schedule prescribing Austrade commenced on the commencement of Part 1 of Schedule 1 to the Australian Trade Commission Legislation Amendment Act 2006; and
* the schedule setting out the revised governance arrangements for DAA commenced at the time declared, in a notice published in the Gazette.
In accordance with section 17 of the Legislative Instruments Act 2003, DIMA was consulted in the preparation of the Regulations.
Authority: Subsection 65(1) of the Financial Management and Accountability Act 1997
ATTACHMENT
This regulation provides that the title of the Regulations is the Financial Management and Accountability Amendment Regulations 2006 (No. 5).
Regulation 2 - Commencement
This regulation provides for the Regulations to commence on the following dates:
* the Schedule prescribing AIFS and removing the CSS Board and PSS Board as prescribed agencies and replacing them with ARIA commenced on 1 July 2006; and
* the Schedule prescribing Austrade commenced on the commencement of Part 1 of Schedule 1 to the Australian Trade Commission Legislation Amendment Act 2006; and
* the Schedule setting out the revised governance arrangements for DAA commenced at the time declared, in a notice published in the Gazette;
Regulations 3 to 5 - Amendment of Financial Management and Accountability Regulations 1997
These regulations provide that the Financial Management and Accountability Regulations 1997 (the Principal Regulations) would be amended as set out in Schedules 1, 2 and 3.
Schedule 1 -- Amendment relating to AIFS and ARIA
Item [1] -- Schedule 1, Part 1, after item 113
Item 113A is inserted to prescribe AIFS, as comprising:
Item [2] -- Schedule 1, Part 2, item 203
The existing Item 203, which prescribes the CSS Board is omitted
Item [3] -- Schedule 1, Part 2, item 204
Australian Reward Investment Alliance, comprising:
(a) the Chairperson and other trustees mentioned in section 23 of the Superannuation Act 1990; and
(b) persons engaged under the Public Service Act 1999 who assist the Board; and
(c) persons employed under other arrangements to assist the Board
Schedule 3 -- Amendments relating to the Dairy Adjustment Authority
Item [1] -- Schedule 1, Part 1, item 122A, column 2, paragraph (a)
Item 122A, column 2, paragraph (a) of the Principal Regulations is substituted by:
"(a) the member of the Diary Adjustment Authority mentioned in subclause 59(4) of Schedule 2 to the Dairy Produce Act 1986; and"
Item [2] -- Schedule 1, Part 1, item 122A, column 2, paragraph (b)
Item 122A, column 2, paragraph (b) omits 'the Dairy Product Act 1986; and', and inserts 'that Act; and'.
Item [3] -- Schedule 1, Part 1, item 122A, column 3
Item 122A, column 3 substitutes 'Member'.