FINANCIAL MANAGEMENT AND ACCOUNTABILITY ACT 1997

FINANCIAL MANAGEMENT AND ACCOUNTABILITY ACT 1997

TABLE OF PROVISIONS

           Long Title

   PART 1--PRELIMINARYýÜ

   1.      Short title 
   2.      Commencement 
   3.      This Act binds the Crown 
   4.      This Act extends to things outside Australia 

   PART 2--GENERAL PROVISIONS ABOUT DEFINITIONS AND OFFENCES

   5.      Definitions 
   6.      Notional payments and receipts by Agencies 
   7.      Offences 

   PART 3--COLLECTION, CUSTODY ETC. OF PUBLIC MONEY

   8.      Agreements with banks about receipt, transmission etc. of public 
   9.      Official bank accounts 
   10.     Public money must be promptly banked etc. 
   11.     Public money not to be paid into non-official account 
   12.     Finance Minister's authority needed for arrangements for receipt etc. of 
   13.     Money not to be withdrawn from official account without 
   14.     Misapplication or improper use of public money 
   15.     Liability for loss of public money 
   16.     Special Instructions by Finance Minister about handling etc. of special 

   PART 4--FUND ACCOUNTING, APPROPRIATIONS AND PAYMENTS

   17.     Accounting classifications of public money 
   18.     Public money must initially be credited to the Consolidated Revenue 
   19.     The Loan Fund 
   20.     The Reserved Money Fund 
   21.     The Commercial Activities Fund 
   22.     Disallowance of determinations dealing with Fund components 
   23.     Set-offs ignored for Fund accounting purposes 
   24.     Finance Minister must keep accounts and records of Fund 
   25.     References in other Acts etc. to payments into or out of Funds 
   26.     Drawing rights required for payment etc. of public money 
   27.     Issue of drawing rights 
   28.     Appropriation for repayments required or permitted by law 
   29.     Uncommitted advances lapse at end of appropriation period 
   30.     Appropriation to be reinstated for amounts re-credited to Fund 
   31.     Agreements for "net appropriations" 
   32.     Adjustment of appropriations on change of Agency functions 
   33.     Finance Minister may approve act of grace payments 
   34.     Finance Minister may waive debts etc. 
   35.     Finance Minister may approve payments pending probate etc. 
   36.     Presiding Officers may approve expenditure 

   PART 5--BORROWING AND INVESTMENT

   37.     Unauthorised borrowing agreements are invalid 
   38.     Finance Minister may borrow for short periods 
   39.     Finance Minister may invest public money 

   PART 6--CONTROL AND MANAGEMENT OF PUBLIC PROPERTY

   40.     Custody etc. of securities 
   41.     Misapplication or improper use of public property 
   42.     Liability for loss etc. of public property 
   43.     Gifts of public property 

   PART 7--SPECIAL RESPONSIBILITIES OF CHIEF EXECUTIVES

   44.     Promoting efficient, effective and ethical use of Commonwealth 
   45.     Fraud control plan 
   46.     Audit committee 
   47.     Recovery of debts 
   48.     Accounts and records 
   49.     Annual financial statements 
   50.     Additional financial statements and information 
   51.     Reporting requirements on change of Agency functions 
   52.     Chief Executive's instructions 
   53.     Chief Executive may delegate powers 

   PART 8--REPORTING AND AUDIT

   54.     Preparation and publication of monthly statement of fund 
   55.     Preparation of annual statements by Finance Minister 
   56.     Audit of Finance Minister's annual financial statements 
   57.     Audit of annual financial statements of Agency 

   PART 9--MISCELLANEOUS

   58.     Modifications of Act for intelligence or security agency 
   59.     Advisory Committees for reporting on large waivers etc. 
   60.     Misuse of Commonwealth credit card 
   61.     Official must not falsify accounts etc. 
   62.     Finance Minister may delegate powers 
   63.     Finance Minister's Orders 
   64.     Guidelines by Ministers 
   65.     Regulations