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This is a Bill, not an Act. For current law, see the Acts databases.
Queensland
Financial Administration and
Audit and Another Act
Amendment Bill 2007
Queensland
Financial Administration and Audit and
Another Act Amendment Bill 2007
Contents
Page
Part 1 Preliminary
1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
2 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Part 2 Amendment of Financial Administration and Audit Act 1977
3 Act amended in pt 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
4 Amendment of s 40AA (Timing for accountable officers to give
general purpose financial statements to auditor-general) . . . . . . 4
5 Amendment of s 41 (Investment of surplus moneys) . . . . . . . . . . 4
6 Amendment of s 43B (Certain departments may enter into
derivative transactions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
7 Amendment of s 46FA (Timing for statutory bodies to give
annual financial statements to auditor-general) . . . . . . . . . . . . . . 5
8 Amendment of sch 2 (Continuing funds) . . . . . . . . . . . . . . . . . . . 5
Part 3 Amendment of Government Owned Corporations Act 1993
9 Act amended in pt 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
10 Amendment of sch 3 (Application of FA and A Act to company
GOCs and prescribed company GOC subsidiaries). . . . . . . . . . . 6
2007
A Bill
for
An Act to amend the Financial Administration and Audit Act
1977 and the Government Owned Corporations Act 1993
s1 4 s5
Financial Administration and Audit and Another Act
Amendment Bill 2007
The Parliament of Queensland enacts-- 1
Part 1 Preliminary 2
Clause 1 Short title 3
This Act may be cited as the Financial Administration and 4
Audit and Another Act Amendment Act 2007. 5
Clause 2 Commencement 6
This Act commences on a day to be fixed by proclamation. 7
Part 2 Amendment of Financial 8
Administration and Audit Act 9
1977 10
Clause 3 Act amended in pt 2 11
This part amends the Financial Administration and Audit Act 12
1977. 13
Clause 4 Amendment of s 40AA (Timing for accountable officers to 14
give general purpose financial statements to 15
auditor-general) 16
Section 40AA(3) and (4), `3 months'-- 17
omit, insert-- 18
`2 months'. 19
Clause 5 Amendment of s 41 (Investment of surplus moneys) 20
Section 41(3)(d), from `has' to `subsection'-- 21
s6 5 s8
Financial Administration and Audit and Another Act
Amendment Bill 2007
omit, insert-- 1
`the Treasurer considers appropriate'. 2
Clause 6 Amendment of s 43B (Certain departments may enter into 3
derivative transactions) 4
(1) Section 43B(2)(a)-- 5
omit. 6
(2) Section 43B(2)(b) and (c)-- 7
renumber as section 43B(2)(a) and (b). 8
Clause 7 Amendment of s 46FA (Timing for statutory bodies to 9
give annual financial statements to auditor-general) 10
Section 46FA(3) and (4), `3 months'-- 11
omit, insert-- 12
`2 months'. 13
Clause 8 Amendment of sch 2 (Continuing funds) 14
(1) Schedule 2, entries for Department of Mines and Energy and 15
Department of Natural Resources-- 16
omit. 17
(2) Schedule 2, entry for Treasury Department, `Franchise Fees 18
Compensation Fund' and `Government Schemes Agency 19
Fund'-- 20
omit. 21
s9 6 s 10
Financial Administration and Audit and Another Act
Amendment Bill 2007
Part 3 Amendment of Government 1
Owned Corporations Act 1993 2
Clause 9 Act amended in pt 3 3
This part amends the Government Owned Corporations Act 4
1993. 5
Clause 10 Amendment of sch 3 (Application of FA and A Act to 6
company GOCs and prescribed company GOC 7
subsidiaries) 8
(1) Schedule 3, part 4, section 46F(1) and (2)-- 9
omit, insert-- 10
`(1) A company GOC must give the financial statements prepared 11
by it under the Corporations Act to the auditor-general by a 12
date agreed between the company GOC and the 13
auditor-general. 14
`(2) The date agreed under subsection (1) must allow audit of the 15
statements, and a report for the audit, to be completed by the 16
auditor-general no later than 2 months after the end of the 17
financial year the statements relate to.'. 18
(2) Schedule 3, part 5, section 46F(1) and (2)-- 19
omit, insert-- 20
`(1) A company GOC subsidiary must give the financial 21
statements prepared by it under the Corporations Act to the 22
auditor-general by a date agreed between the subsidiary and 23
the auditor-general. 24
`(2) The date agreed under subsection (1) must allow audit of the 25
statements, and a report for the audit, to be completed by the 26
auditor-general no later than 2 months after the end of the 27
financial year the statements relate to.'. 28
© State of Queensland 2007
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