New South Wales Consolidated Acts

GOVERNMENT SECTOR FINANCE ACT 2018 - SECT 7.7

7.7 Final annual GSF financial statements for former reporting GSF agencies

(1) The accountable authority for a former reporting GSF agency must cause annual GSF financial statements (
"final annual GSF financial statements" ) to be prepared for--

(a) the part of the annual reporting period of the agency before it ceased to be a reporting GSF agency, and

(b) if annual GSF financial statements have not been prepared for any previous annual reporting period of the agency--that previous period.

(2) Except as directed by the Treasurer (and subject to subsection (3)), final annual GSF financial statements must be prepared, given, audited and published in the same way as would have been required if the former reporting GSF agency had not ceased to be a reporting GSF agency.

(3) A copy of final annual GSF financial statements and the audit report for them must be--

(a) for a former reporting GSF agency that is required under Division 7.3 to prepare annual reporting information for the period concerned--included in the annual reporting information tabled in Parliament for that period, or

(b) for any other former reporting GSF agency--tabled by the responsible Minister for the agency in each House of Parliament after the audit report is provided by the Auditor-General.

(4) Without limiting subsection (2), the Treasurer may give directions as to the following--

(a) exempting a former reporting GSF agency (or former reporting GSF agencies of a kind) from preparing final annual GSF financial statements,

(b) modifying requirements for the preparation, giving or auditing of final annual GSF financial statements.

(5) The Treasurer is to have regard to the prescribed reporting exemption criteria in determining whether to give a direction that a former reporting GSF agency should be exempted from preparing final annual GSF financial statements.

(6) The Treasurer must consult the Auditor-General in accordance with section 3.5 about proposed directions for the purposes of this section (whether for inclusion in the Treasurer's directions or a separate written direction) that exempt any former reporting GSF agency from preparing final annual GSF financial statements.

(7) A direction under this section may be contained in the Treasurer's directions or in a separate written direction given to the accountable authority concerned.