South Australian Current Acts South Australian Current Acts (1) If a
public authority carries out its functions partly or wholly in partnership or
jointly with another person or through the instrumentality of a body corporate
or other person or by means of a trust the Chief Executive Officer of the
public authority must give written notice of that fact to the Auditor-General.
(2) The
Auditor-General may audit the accounts of a trustee, partner or other person
(whether a body corporate or not) relating to functions carried out on behalf
of, or in partnership or jointly with, a public authority or relating to
functions carried out as the delegate or agent of a public authority, and may
examine the efficiency, economy and effectiveness with which the body
corporate, trustee, partner or other person carries out those functions.
(3) If a public
authority is the legal or beneficial owner of shares in a company and the
company, or a subsidiary of the company, is the instrument used by the public
authority to carry out some or all of its functions, the Auditor-General may
audit the accounts of—
(a) the
company in which the public authority owns shares; and
(b) the
subsidiary of the company; and
(c) the
companies (if any) in a chain of holding companies and subsidiaries between
the company referred to in paragraph (a) and the subsidiary.
(4) If the
Auditor-General is entitled under subsection (3) to audit the accounts of
a company that is the instrument used by a public authority to carry out some
or all of its functions, the Auditor-General may examine the efficiency,
economy and effectiveness with which the company carries out those functions.
(5) For the purposes
of subsection (3)—
(a) a
company is the holding company of another if it is the legal or beneficial
owner of shares in the other company;
(b) a
company is the subsidiary of another company if any of its shares are owned
legally or beneficially by the other company;
(c) a
group of companies form a chain of holding companies and subsidiaries if they
can be arranged in a line with each company being the holding company of the
company following it in the line.
(6) The
Auditor-General may audit the accounts of a company and examine the
efficiency, economy and effectiveness with which it conducts its affairs
if—
(a) a
public authority is the legal or beneficial owner of more than 40 per cent of
the issued share capital of the company; and
(b) the
Treasurer has given his or her consent to the audit and examination.
(7) The
Auditor-General must audit the accounts of a company referred to in
subsection (6) and examine the efficiency, economy and effectiveness with
which it conducts its affairs if requested to do so by the Treasurer.
(8) This
section—
(a) is
in addition to the provisions of any other Act or law requiring the accounts
of a company or other body corporate to be audited; and
(b) is
not in derogation of any such provisions.