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FINANCIAL MANAGEMENT ACT 2006

Table of Provisions

PART 1 -- Preliminary  

  • 1 Short title
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  • 2 Commencement
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  • 3 Terms used
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  • 4 Relationship of this Act with other laws
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  • 5 Act modified for administration of certain bodies (Sch. 2)
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  • 6 Sch. 1 may be amended by regulations

PART 2 -- Accounts

Division 1 -- Public Ledger  

  • 7 Public Ledger
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  • 8 Consolidated Account
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  • 9 Treasurer’s Advance Account
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  • 10 Treasurer’s special purpose accounts

Division 2 -- Public Bank Account and other bank accounts  

  • 11 Public Bank Account
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  • 12 Public Bank Account, application of money in
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  • 13 Bank accounts for agencies, restrictions on
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  • 14 Bank accounts not to be overdrawn except with Treasurer’s approval
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  • 15 Bank accounts for public money etc., restrictions on

Division 3 -- Agency special purpose accounts  

  • 16 Agency special purpose accounts

Division 4 -- Administration of special purpose accounts  

  • 17 Special purpose statements and trust statements for accounts, preparation of etc.
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  • 18 Payments to and from accounts
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  • 19 Accounts not to be overdrawn except with Treasurer’s approval
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  • 20 Unrequired money in accounts, transfer of from
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  • 21 Closing accounts and consequences of
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  • 22 Other written laws not affected by this Division

PART 3 -- Funds management

Division 1 -- Supply and appropriation  

  • 23 Money received by agency, agency may retain in certain cases
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  • 24 Payments before supply granted, Treasurer’s powers to make etc.
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  • 25 Appropriations, saving and transfer of in certain cases
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  • 26 Appropriations, transfer of to suspense account in certain cases
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  • 27 Expenditure not provided for in, or in excess of amount appropriated by, Appropriation Acts
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  • 27A Transitional provision for Financial Legislation Amendment Act 2021
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  • 28 Advances, Treasurer may authorise etc.
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  • 29 Expenditure under s. 27 and 28 limited
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  • 30 Unexpended appropriations lapse
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  • 31 Public Bank Account Interest Earned Account, application of money in

Division 2 -- Payments and transfers  

  • 32 Certain payments and transfers to be authorised
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  • 33 Consolidated Account, payments from to be under Governor’s warrant etc.
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  • 34 Public etc. money received, how to be dealt with
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  • 35 Public Bank Account, how payments into to be credited
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  • 36 Other money, how to be dealt with

Division 3 -- Investments  

  • 37 Public Bank Account, investment of
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  • 38 Investment under s. 37, application of proceeds of
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  • 39 Investment by agencies

Division 4 -- Annual estimates of agencies  

  • 40 Preparation of draft annual estimates
  •  
  • 41 Approval of annual estimates

Division 5 -- Resource agreements  

  • 42 Preparation of draft resource agreements
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  • 43 Agreeing on resource agreements
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  • 44 Modifying resource agreements

Division 6 -- Write-offs and recoveries  

  • 47 Terms used
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  • 48 Write-offs
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  • 49 Loss of official money or property, liability of officers for
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  • 50 Recovering amounts from officers liable under s.
  •  
  • 51 Official losses, investigating

Division 7 -- Financial difficulty  

  • 51A Notices of financial difficulty

PART 4 -- Accountable authorities  

  • 52 Each agency to have accountable authority
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  • 53 Functions of accountable authorities
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  • 54 Department, who is accountable authority of etc.
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  • 55 Statutory authority, who is accountable authority of etc.
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  • 56 Sub-departments, entities that are and accountable authorities of
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  • 57 Chief finance officers, designation and functions of
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  • 58 Financial management system, duties of accountable authorities as to

PART 5 -- Reports

Division 1 -- Treasurer’s reports  

Division 2 -- Annual reports by agencies  

  • 60 Terms used
  •  
  • 61 Annual reports, contents of etc.
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  • 62 Financial statements for s. 61(1)(a), standards for etc.
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  • 63 Financial reports etc. to be submitted to Auditor General and Minister
  •  
  • 64 Minister to table agency’s annual report etc.
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  • 65 Minister to inform Parliament if annual report and Auditor General’s opinion cannot be tabled on time

Division 3 -- Reporting on abolition of agencies  

  • 66 Terms used
  •  
  • 67 Purpose of this Division
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  • 68 Abolition of agency, reporting after
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  • 69 Final report, contents of
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  • 70 Directions by Treasurer for this Division
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  • 71 Reporting officers entitled to access to accounts etc.
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  • 72 Reporting officers to submit financial statements etc. to Auditor General

PART 6 -- Miscellaneous

Division 1 -- Delegations and authorisations  

  • 73 Term used: Treasury Corporation official
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  • 74 Delegation by Treasurer
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  • 75 Delegation by Ministers
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  • 76 Delegation and authorisation by Under Treasurer
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  • 77 Delegations and authorisations, general provisions about

Division 2 -- Treasurer’s instructions  

  • 78 Treasurer’s instructions, issue of etc.

Division 3 -- Miscellaneous powers and duties  

  • 79 Treasurer’s power to require information
  •  
  • 80 Act of grace payments
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  • 81 Actions etc. inhibiting etc. Minister’s parliamentary functions prohibited
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  • 82 Ministerial decisions not to give Parliament certain information about agency to be reported to Parliament etc.

Division 4 -- General  

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