Financial Management Legislation Amendment Act 2001 (ACT)

Financial Management Legislation Amendment Act 2001

No 45 of 2001

An Act to amend the Financial Management Act 1996 and the Territory Superannuation Provision Protection Act 2000

[Notified in ACT Gazette No. 28: 12 July 2001]

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

Part 1Preliminary

1. Name of Act

   This Act is the Financial Management Legislation Amendment Act 2001.

2. Commencement

   This Act commences on a day fixed by the Minister by notice in the Gazette.

   Note 1The naming and commencement provisions automatically commence on its notification day (see Legislation Act 2001, s 75).

   Note 2A single day or time may be fixed, or different days or times may be fixed, for the commencement of different provisions (see Legislation Act 2001, s 77 (1)).

   Note 3If a provision has not commenced within 6 months beginning on the notification day, it automatically commences on the first day after that period (see Legislation Act 2001, s 79).

Part 2Financial Management Act 1996

1. Act amended in pt 2

   This part amends the Financial Management Act 1996.       

2. Definitions
   Section 3, new definitions

   insert

   interest includes a dividend and any other financial return on a deposit, loan or other investment.

   invest includes enter into a transaction or arrangement for the protection or enhancement of investments.

3. Investment of certain public money
   Section 38 (1) (e)

   substitute

   (e)in any investment prescribed under the financial management guidelines for this paragraph. 

4. Part 6, heading

   substitute

Part 6Borrowing and guarantees       

1. Financial derivatives
   Section 48

   omit

2. Investment
   Section 56 (1) (d)

   substitute

   (d)in any investment prescribed under the financial management guidelines for this paragraph.

Part 3Territory Superannuation Provision Protection Act 2000

1. Act amended in pt 3

   This part amends the Territory Superannuation Provision Protection Act 2000.

2. Dictionary, new definition

   insert

   invest includes enter into a transaction or arrangement for the protection or enhancement of investments.

Endnotes

Acts amended

1. Financial Management Act 1996 republished as in force on 10 November 1999 (Republication No 2).

2. Territory Superannuation Provision Protection Act 2000 republished as in force on 1 August 2000 (Republication No 1).

[Presentation speech made in Assembly on 3 May 2001]

©  Australian Capital Territory 2001