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This is a Bill, not an Act. For current law, see the Acts databases.
PARLIAMENT OF VICTORIA
Financial Management (Miscellaneous
Amendments) Act 2006
Act No.
TABLE OF PROVISIONS
Clause Page
1. Purpose 1
2. Commencement 2
3. Principal Act 2
4. Directions 2
5. Annual financial report--unused appropriation 3
6. New section 29 substituted 4
29. Appropriation of certain revenue and asset proceeds 4
7. Unused appropriation 5
8. Tabling the annual budget estimates 5
9. New section 54P substituted 6
54P. Licensing and leasing of surplus Crown land and
buildings 6
10. Regulations 6
ENDNOTES 8
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PARLIAMENT OF VICTORIA
A BILL
to amend the Financial Management Act 1994 in relation to budget
management, powers over land and financial regulations and
directions and for other purposes.
Financial Management (Miscellaneous
Amendments) Act 2006
The Parliament of Victoria enacts as follows:
1. Purpose
The purpose of this Act is to amend the Financial
Management Act 1994 to--
(a) update the budget management provisions;
(b) clarify the Minister's powers regarding land;
5
(c) update the regulation and direction making
powers.
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Financial Management (Miscellaneous Amendments) Act 2006
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Act No.
2. Commencement
This Act comes into operation on the day after the
day on which it receives the Royal Assent.
3. Principal Act
See: In this Act, the Financial Management Act 1994
5 Act No.
is called the Principal Act.
18/1994.
Reprint No. 5
as at
1 July 2003
and
amending
Act Nos
43/2004,
108/2004,
72/2005 and
73/2005.
LawToday:
www.dms.
dpc.vic.
gov.au
4. Directions
(1) For section 8(1) of the Principal Act substitute--
"(1) The Minister may give an authority, a public
body, an accountable officer or a chief
10
finance and accounting officer directions in
writing for or with respect to any of the
matters for or with respect to which
regulations may be made under this Act.
15 Note: Section 59 sets out the matters for or with
respect to which regulations may be made
under this Act.".
(2) After section 8(2) of the Principal Act insert--
"(3) Directions--
(a) may be of a general or limited
20
application;
(b) may differ according to differences in
time, place or circumstances;
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Act No.
(c) may confer a discretionary authority or
impose a duty on a specified person or
class of person;
(d) may provide in a specified case or class
of case for the exemption of persons or
5
things or class of persons or things
from any of the provisions of the
directions, whether unconditionally or
on specified conditions and either
wholly or to such an extent as is
10
specified.
(4) A direction may adopt, apply or incorporate
the whole or any part of a statement of
accounting standards or statement of
accounting practice issued at any time before
15
the direction is made by all or any of the
persons or bodies referred to in
section 59(3).
(5) For the avoidance of doubt, the power to
make directions under sub-section (1)
20
extends to directions with respect to money
in a Trust Account in the Trust Fund that is
established by or under another Act.".
5. Annual financial report--unused appropriation
For section 24(2)(g) of the Principal Act
25
substitute--
"(g) must include details of--
(i) amounts appropriated in respect of the
financial year as a result of a
determination under section 32 in
30
respect of unused appropriation for the
preceding financial year;
(ii) the application during the financial year
of amounts referred to in sub-
paragraph (i);
35
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(iii) amounts appropriated in respect of the
next financial year as a result of a
determination under section 32 in
respect of unused appropriation for the
financial year;".
5
6. New section 29 substituted
For section 29 of the Principal Act substitute--
"29. Appropriation of certain revenue and
asset proceeds
(1) This section applies if a Schedule to an
10
appropriation Act provides that this section
applies in relation to an item in respect of a
department set out in that Schedule.
(2) If this section applies--
(a) revenue receivable--
15
(i) from the provision of outputs by
the department; or
(ii) by way of specific purpose
payment by the Commonwealth;
or
20
(iii) by way of specific purpose
payment by a municipal council;
or
(b) proceeds received from the disposal of
assets shown in the accounts of the
25
department--
may be credited to the item to the extent, and
on the conditions, agreed between the
Minister administering this section and the
Minister responsible for the administration of
30
the item.
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(3) For the purposes of sub-section (2)--
(a) an amount equal to an amount credited
under that sub-section is deemed to
have been appropriated for the purposes
of the item; and
5
(b) the Minister may issue that amount out
of the Consolidated Fund and apply it
accordingly.".
7. Unused appropriation
(1) Section 32(2) of the Principal Act is repealed.
10
(2) For section 32(4) of the Principal Act
substitute--
"(4) A statement under section 40 must include
the estimated amounts for which
determinations under this section may be
15
made in respect of unused appropriation for
the preceding financial year.".
8. Tabling the annual budget estimates
For section 40(2) of the Principal Act
substitute--
20
"(2) The Minister must cause the statement to be
laid before--
(a) the Legislative Assembly on or before
the day on which the second readings
of the annual appropriation Bills are
25
moved; and
(b) the Legislative Council on the same day
that it is laid before the Legislative
Assembly or, if the Council is not
sitting on that day, on the next sitting
30
day of the Council.".
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9. New section 54P substituted
For section 54P of the Principal Act substitute--
"54P. Licensing and leasing of surplus Crown
land and buildings
(1) The Minister may grant any person a lease
5
over, or a licence to enter and use--
(a) any Crown land; or
(b) any building or other structure, or part
of a building or structure, on Crown
land--
10
that is not required for the purposes of a
department or a Minister or any other public
purpose.
(2) A lease or licence may be granted under this
section on any terms and conditions the
15
Minister thinks fit.
(3) This section applies despite anything in the
Land Act 1958.".
10. Regulations
In section 59 of the Principal Act--
20
(a) for sub-section (1)(a) and (b) substitute--
"(a) financial governance and oversight,
including financial risk management
and internal audit;
(b) structures, systems and procedures in
25
authorities and public bodies to ensure
proper financial management;";
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(b) for sub-section (1)(d), (da) and (e)
substitute--
"(d) financial reporting, including the form
and content of reports of operations,
financial statements and information
5
required under Part 7;
(e) policies and procedures to ensure that
authorities and public bodies comply
with obligations imposed on them by or
under this Act;";
10
(c) in sub-section (1A), omit "for or with respect
to public money or the Public Account".
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Financial Management (Miscellaneous Amendments) Act 2006
Endnotes
Act No.
ENDNOTES
By Authority. Government Printer for the State of Victoria.
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