FINANCIAL MANAGEMENT ACT 2006 - SECT 41
FINANCIAL MANAGEMENT ACT 2006 - SECT 41
41 . Approval of annual estimates
(1) After receiving
draft annual estimates submitted by an accountable authority under
section 40(1), the Minister must, within the period of 1 month after the
submission date for the draft annual estimates or such other period as is
specified in a determination under subsection (2), either —
(a)
approve the draft annual estimates; or
(b)
present the accountable authority of the agency with annual estimates of the
financial operations of the agency for the financial year to which the draft
annual estimates relate, and direct that they are to be the annual estimates
of the financial operations of the agency for the financial year.
(2) The Treasurer may,
in writing, determine the period that applies for the purposes of subsection
(1) in a particular case.
(3) When the Minister
approves draft annual estimates under subsection (1)(a), or gives a direction
under subsection (1)(b) in relation to annual estimates, they become the
annual estimates of the financial operations of the agency to which they
relate for the whole of the financial year to which they relate.
(4) Subsection (3) has
effect even if the approval or direction was given after the start of the
financial year.
(5) The accountable
authority of an agency must make the annual estimates of the financial
operations of the agency for a financial year available to the public —
(a) as
soon as is practicable after they become the annual estimates of the financial
operations of the agency for the financial year; and
(b) in
the manner prescribed by the Treasurer’s instructions.
[Section 41 inserted: No. 12 of 2021 s. 10.]
[Heading inserted: No. 12 of 2021 s. 11.]