FINANCIAL MANAGEMENT ACT 2006 - SECT 24

FINANCIAL MANAGEMENT ACT 2006 - SECT 24

24 .         Payments before supply granted, Treasurer’s powers to make etc.

        (1A)         In this section —

        election year means a year in which a general election, as defined in the Electoral Act 1907 section 4(1), for the Legislative Assembly is held.

        (1)         If, before the end of a financial year (the previous year ), no supply is granted to meet the requirements of the next financial year (the current year ), the Treasurer may make and charge to the Consolidated Account any payments and advances to meet those requirements at and after the start of the current year that do not exceed in total an amount equal to —

            (a)         if the end of the previous year is in an election year — 35% of the total amount appropriated for the previous year by the Appropriation Acts; or

            (b)         otherwise — 20% of the total amount appropriated for the previous year by the Appropriation Acts.

        (2)         The authority conferred on the Treasurer by subsection (1) authorises payments and advances to be made only for the purposes —

            (a)         for which expenditure was authorised for the previous year by the Appropriation Acts; or

            (b)         for which expenditure was authorised under section 27(1) to meet the requirements of the previous year.

        (3)         The authority conferred on the Treasurer by subsection (1) ceases to have effect when the first of the following occurs —

            (a)         if the end of the previous year —

                  (i)         is in an election year — at the end of the first 4 months of the current year;

                  (ii)         is not in an election year — at the end of the first 2 months of the current year;

            (b)         on the commencement of an Act granting supply for the current year.

        (4)         On the commencement of the Appropriation Acts appropriating the Consolidated Account for the current year, the payments and advances made by the Treasurer under subsection (1) to meet the requirements of the current year are taken to be expenditure appropriated by those Acts for the current year in respect of the purposes for which the payments and advances were made.

        [Section 24 amended: No. 12 of 2021 s. 5.]