Financial Management Amendment Act 2021 (ACT)

Financial Management Amendment Act 2021

A2021-22

An Act to amend the Financial Management Act 1996

The Legislative Assembly for the Australian Capital Territory enacts as follows:

1. Name of Act

   This Act is the Financial Management Amendment Act 2021.

2. Commencement

   This Act commences on the day after its notification day.

   NoteThe naming and commencement provisions automatically commence on the notification day (see Legislation Act, s 75 (1)).

3. Legislation amended

   This Act amends the Financial Management Act 1996.

4. Payments authorised on lapse of appropriation
   Section 7 (1) (c)

   substitute

   (c)for the 2021-22 financial year—the payments made under this section for any purpose must not exceed, in total, 75% of the amount appropriated by Appropriation Acts for the 2020-21 financial year for that purpose;

5. Treasurer’s advance
   Section 18 (2) (a)

   substitute

   (a)for the 2021-22 financial year—5% of the total amount appropriated by all Appropriation Acts for the year; or

6. Audit of annual financial statements
   Section 24 (3)

   substitute

   (3)Despite subsections (1) and (2), if an ordinary election is to be held in the year after the end of the financial year—

   (a)the under treasurer must give the auditor-general the annual financial statements of the Territory for the financial year in sufficient time for the auditor-general to give an audit opinion about the statements within 3 months after the end of the financial year; and

   (b)the auditor-general must give an audit opinion to the Treasurer within 3 months after the end of the financial year.

   (3A)Also, despite subsections (1) and (2), for the 2020-21 financial year—

   (a)the under treasurer must give the auditor-general the annual financial statements of the Territory for the financial year in sufficient time for the auditor-general to give an audit opinion about the statements within 5 months after the end of the financial year; and

   (b)the auditor-general must give an audit opinion to the Treasurer within 5 months after the end of the financial year.

Endnotes

1. Presentation speech

   Presentation speech made in the Legislative Assembly on 16 September 2021.

2. Notification

   Notified under the Legislation Act on 21 September 2021.

3. Republications of amended laws

   For the latest republication of amended laws, see certify that the above is a true copy of the Financial Management Amendment Bill 2021, which was passed by the Legislative Assembly on 16 September 2021.

   Clerk of the Legislative Assembly

   © Australian Capital Territory 2021