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This is a Bill, not an Act. For current law, see the Acts databases.
Public Finance and Audit Amendment
(Consolidated Financial Statements)
Act 1999 No 37
Contents
Page
1 Name of Act 2
2 Commencement 2
3 Amendment of Public Finance and Audit Act 1983 No 152 2
4 Application of Act 2
Schedule 1 Amendments 3
[8]
New South Wales
Public Finance and Audit Amendment
(Consolidated Financial Statements)
Act 1999 No 37
Act No 37, 1999
An Act to amend the Public Finance and Audit Act 1983 to extend the time for
preparing the Public Accounts and the Total State Sector Accounts; to define
"controlled entity" by reference to the Australian Accounting Standards; and for
other purposes. [Assented to 7 July 1999]
Section 1 Public Finance and Audit Amendment (Consolidated Financial
Statements) Act 1999 No 37
The Legislature of New South Wales enacts:
1 Name of Act
This Act is the Public Finance and Audit Amendment (Consolidated
Financial Statements) Act 1999.
2 Commencement
This Act commences on the date of assent.
3 Amendment of Public Finance and Audit Act 1983 No 152
The Public Finance and Audit Act 1983 is amended as set out in
Schedule 1.
4 Application of Act
Sections 6, 49, 51 and 52A of the Public Finance and Audit Act 1983,
as amended by this Act, apply to the Public Accounts and the Total
State Sector Accounts prepared for the financial year commencing on
1 July 1998 and subsequent financial years.
Page 2
Public Finance and Audit Amendment (Consolidated Financial
Statements) Act 1999 No 37
Amendments Schedule 1
Schedule 1 Amendments
(Section 3)
[1] Section 6 Preparation of the Public Accounts and the Total State
Sector Accounts
Omit section 6 (4) and (5). Insert instead:
(4) On or before 30 September, the Treasurer is to transmit the
Public Accounts and the Total State Sector Accounts prepared
in relation to the preceding financial year to the
Auditor-General.
[2] Section 39 Application and interpretation
Omit section 39 (1A). Insert instead:
(1A) A reference in this Division to a statutory body also includes a
reference to an entity of which the statutory body has control
within the meaning of Australian Accounting Standard AAS
24: Consolidated Financial Reports and Accounting Standard
AASB 1024: Consolidated Accounts.
[3] Section 45A Application and interpretation
Omit section 45A (1A). Insert instead:
(1A) A reference in this Division to a Department also includes a
reference to an entity of which the Department (or the Minister
responsible for, or an officer of, the Department) has control
within the meaning of Australian Accounting Standard AAS
24: Consolidated Financial Reports and Accounting Standard
AASB 1024: Consolidated Accounts.
Page 3
Public Finance and Audit Amendment (Consolidated Financial
Statements) Act 1999 No 37
Schedule 1 Amendments
[4] Section 49 Examination by Auditor-General of the Public Accounts and
the Total State Sector Accounts
Omit section 49 (2). Insert instead:
(2) On or before 15 November after receiving the Public Accounts
and the Total State Sector Accounts from the Treasurer, the
Auditor-General is to transmit the Public Accounts, the Total
State Sector Accounts and the opinion prepared under this
section to the Treasurer.
[5] Section 49 (4)
Omit the subsection.
[6] Section 51 Public Accounts, Total State Sector Accounts and opinion
to be presented to the Legislative Assembly
Omit "30 September" from section 51 (1).
Insert instead "30 November".
[7] Section 51 (3)
Omit the subsection.
[8] Section 52A Auditor-General's report etc to be presented to the
Legislative Assembly
Omit "30 September" from section 52A (1).
Insert instead "30 November".
[9] Section 52A (3)
Omit the subsection.
Page 4
Public Finance and Audit Amendment (Consolidated Financial
Statements) Act 1999 No 37
Schedule 1
Amendments
[10] Section 64 Regulations
Insert after section 64 (1):
(1A) Without limiting subsection (1), a regulation may shorten the
time for compliance with a provision of section 6 (4), 41A (1)
or (2), 41C (1) or (1A), 45D (1), 45F (1), 49 (2), 51 (1) or
52A(1), despite the provision.
[Minister's second reading speech made in--
Legislative Assembly on 22 June 1999
Legislative Council on 30 June 1999]
BY AUTHORITY
Page 5
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