FINANCIAL MANAGEMENT ACT 1996
Table of Provisions
PART 1--PRELIMINARY
- 1 Name of Act
- 2 Act subject to Territory Superannuation Provision Protection
- 3 Dictionary
- 3A Notes
- 3B Declaration that certain bodies are not territory authorities for Act
- 4 Application of pts 2 to 5—Office of the Legislative Assembly and officers of the
PART 2--BUDGET MANAGEMENT
Division 2.1--Appropriations and budgets
Subdivision 2.1.1--Appropriations and budgets—generally- 5 Timing of first Appropriation Bill for financial year
- 6 Necessity for appropriation
- 7 Payments authorised on lapse of appropriation
- 7A Temporary advance for new purpose or new entity
- 8 Form of appropriations
- 9 Net controlled recurrent payments
- 9A Net appropriations for capital injections
- 9B Appropriations for payments on behalf of Territory to be net
- 10 Budget papers
- 11 Territory budgets
- 11A Financial policy objectives and strategies statement
- 12 Directorate budgets
- 12AA Territory authority budgets
- 12A Territory-owned corporation budgets
- 13 Supplementary budget papers
- 13A Amendment of budgets for supplementary appropriation
- 14 Transfer of funds between appropriations
- 14A Transfer of funds from capital injection appropriation to other
- 14B Transfer of funds from other appropriations to capital injection
- 15A Reclassification of certain appropriations
- 16 Transfer of functions to another entity
- 16A Appropriation for accrued employee entitlements
- 16B Rollover of undisbursed appropriation
- 17 Variation of appropriations for Commonwealth grants
- 17A Variations of appropriations for certain payments to Commonwealth Subdivision 2.1.2--Treasurer's advances
- 18 Treasurer's advance
- 18A Treasurer's advance—payment pending supplementary appropriation
- 18B Treasurer's advance—reduction of amounts
- 18C Assembly to be told about Treasurer's advance Subdivision 2.1.3--Capital works reserve
- 18D Capital works reserve—appropriation
- 18E Capital works reserve—authorising payments from reserve
- 18F Capital works reserve—reducing partially unused payments
- 18G Capital works reserve—Treasurer must notify Assembly Subdivision 2.1.4--Appropriations and budgets—other matters
- 19 Refunds of payments made without liability
- 19A Payments for Territory GST liabilities
- 19AA Payments for Territory GST administration costs
- 19B Authorisation of appropriation for certain Commonwealth grants
- 19C Amendment of capital injection conditions
- 19D Amendment of performance criteria
- 20 Recommended appropriation for Office of the Legislative Assembly
- 20AA Appropriation for Office of the Legislative Assembly
- 20AB Recommended appropriation for officers of the Assembly
- 20AC Appropriation for officers of the Assembly
Division 2.2--Budget reviews and pre-election updates
- 20A Budget review
- 20B Purpose and contents of budget review
- 20C Pre-election budget update
- 20D Purpose and contents of pre-election budget update
PART 3--FINANCIAL REPORTS
Division 3.1--Financial reports of the Territory
- 21 Meaning of the Territory in div 3.1
- 22 Annual financial statements of the Territory
- 23 Responsibility for annual financial statements
- 24 Audit of annual financial statements
- 25 Presentation of annual financial statements to Legislative Assembly
- 26 Periodic financial statements
Division 3.2--Financial reports and performance statements of directorates
- 27 Annual financial statements of directorates
- 28 Responsibility for annual financial statements of directorates
- 29 Audit of financial statements of directorates
- 30 Directorate annual financial statements to be included in annual reports
- 30A Statements of performance of directorates
- 30B Responsibility for directorate statements of performance
- 30C Scrutiny of directorate statements of performance
- 30D Directorate statements of performance to be included in annual reports
- 30E Half-yearly directorate performance reports
Division 3.3--Capital works reports
- 30F Capital works report of Territory
PART 4--FINANCIAL MANAGEMENT RESPONSIBILITIES OF DIRECTORS-GENERAL OF DIRECTORATES
- 31 Responsibilities of directors-general of directorates
- 31A Directors-general may enter into contracts etc
PART 5--BANKING AND INVESTMENT
- 32 Agreement for the conduct of banking for Territory
- 33 Territory banking account
- 34 Directorate banking accounts
- 34A Transfer of directorate banking account
- 34B End of year balances of directorate banking accounts
- 35 Payments into banking accounts
- 36 Transfer following change in directorate responsibilities
- 36A Transfers from directorate banking accounts to territory banking
- 37 Payments from territory banking account
- 37A Payments into territory banking account
- 38 Investment of certain public money
PART 6--BORROWING AND GUARANTEES
- 39 Power of Territory to borrow
- 40 Treasurer may borrow on behalf of Territory
- 41 Power of territory authorities to borrow
- 42 Borrowings by territory authorities to be approved
- 43 Territory authorities may give security
- 44 Power to approve borrowings not delegable
- 45 Loans to be paid into territory banking account
- 46 Payments by Treasurer
- 47 Guarantees by Territory
PART 7--TRUST MONEY
- 49 Identity of trust money
- 50 Administration of trust money
- 51 Directorate trust banking accounts
- 51A Transfer of directorate trust banking accounts
- 51B Transfers between trust banking accounts—changes in directorate
- 51C Transfers between trust banking accounts—investment
- 52 Transfers between trust banking account and territory banking account
- 53 Investment of trust money
- 53A Unclaimed trust money
- 53B Reviewable decision notices
- 53C Applications for review
PART 8--FINANCIAL PROVISIONS FOR TERRITORY AUTHORITIES
- 54 Application––pt 8
- 55 Responsibilities of chief executive officers of territory authorities
- 56 Responsibilities of governing boards of territory authorities
- 57 Banking accounts of territory authorities
- 58 Investment by territory authorities
- 59 Borrowing by territory authorities
- 60 Guarantees by territory authorities
- 61 Territory authority statements of intent
- 62 Presentation of statements of intent of territory authorities
- 63 Annual financial statements of territory authorities
- 64 Responsibility for annual financial statements of territory authorities
- 65 Audit of annual financial statements of territory authorities
- 66 Annual financial statements of territory authorities to be included in annual reports
- 67 Treasurer may require interim financial statements etc for territory
- 68 Statements of performance of territory authorities
- 69 Responsibility for territory authority statements of performance
- 70 Scrutiny of territory authority statements of performance
- 71 Territory authority statements of performance to be included in annual reports
PART 9--GOVERNANCE OF TERRITORY AUTHORITIES
Division 9.1--Definitions and important concepts
- 72 Definitions—pt 9
- 73 Nature of relevant territory authorities
- 74 Powers of territory authorities generally
- 75 Execution of documents and assumptions people dealing with relevant territory authority
- 76 Governing board of territory authority
- 77 Role of governing board
Division 9.2--Governing board member appointments
- 78 Appointment of governing board members generally
- 79 Appointment of chair and deputy chair
- 80 Appointment of CEO of authority with governing board
- 81 Ending board member appointments
Division 9.3--Functions of governing board members
- 82 Chair's functions
- 83 Deputy chair's functions
- 84 CEO's functions
- 85 Honesty, care and diligence of governing board members
- 86 Conflicts of interest by governing board members
- 87 Agenda to require disclosure of interest item
- 88 Disclosure of interests by governing board members
- 89 Reporting of disclosed governing board interests to Minister
- 90 Protection of governing board members from liability
- 91 Indemnification and exemption of governing board members
- 92 Compensation for exercise of functions etc
Division 9.4--Governing board meetings
- 93 Time and place of governing board meetings
- 94 Presiding member at governing board meetings
- 95 Quorum at governing board meetings
- 96 Voting at governing board meetings
- 97 Conduct of governing board meetings etc
Division 9.5--Requirements and obligations for territory authorities
- 98 Limitations on authorities forming corporations etc
- 99 Limitations on authorities taking part in joint ventures and trusts
- 100 Corporations, joint ventures and trusts in which authority has interest
- 101 Obligation of authorities to tell Minister about significant events
- 102 Ministerial directions to authorities about financial etc statements
- 103 Application of government policies to authorities
Division 9.6--Restructuring of territory authorities
- 104 Purpose of div 9.6
- 105 What territory authorities does div 9.6 apply to?
- 106 Responsible Minister may direct div 9.6 authority to sell or transfer
- 107 Transfer of assets by declaration—div 9.6 authorities
- 108 Transfer of contractual rights and liabilities by declaration—div 9.6
- 109 Transfer of liabilities by declaration—div 9.6 authorities
- 110 Assistance given by authorities for div 9.6
- 111 Assistance given by governing board members for div 9.6
- 112 Use of information by Territory and div 9.6 authorities
- 113 Contracts relating to the protection of information—responsible Minister for div 9.6
- 114 Contracts relating to the protection of information—div 9.6
- 115 Transfer of pending proceedings—div 9.6 authorities
- 116 Proceedings and evidence—div 9.6 authorities
- 117 Operation of div 9.6 not breach of contract etc
- 118 Transfer of assets etc not otherwise disposed of—div 9.6
- 119 Annual reports etc for div 9.6 authorities
Division 9.7--Additional provisions for restructuring of certain territory authorities
- 120 What territory authorities does div 9.7 apply to?
- 121 Definitions—div 9.7
- 122 Vesting of assets, rights and liabilities—div 9.7 authorities
- 123 Proceedings and evidence—div 9.7 authorities
- 124 Annual reports and financial statements for div 9.7 authorities
- 125 References to div 9.7 authority
PART 9A--INSOURCING FRAMEWORK
- 126 Meaning of public sector entity—pt 9A
- 127 Responsible chief executive officer to ensure compliance with this part
- 128 Insourcing framework
- 129 Insourcing evaluation for services or works