Untitled document

Financial Management (Amendment) Act 1997

Act No. 42/1997

TABLE OF PROVISIONS

Section Page

1.	Purpose	1
2.	Commencement	1
3.	Principal Act	2
4.	Annual financial statement	2
5.	New section 27 substituted	3
27. Tabling of report	3
6.	Amendment of section 46	3
7.	New section 62A inserted	3
62A. Further transitional provisions	3
8.	Statute law revision	4

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NOTES 5

i

Victoria

No. 42 of 1997

Financial Management (Amendment)

Act 1997†

[Assented to 11 June 1997]

The Parliament of Victoria enacts as follows:

1. Purpose

The purpose of this Act is to change the name of the annual statement of financial operations and the periods for the report on and tabling of the

statement.

2. Commencement

This Act comes into operation on the day on which this Act receives the Royal Assent.

Financial Management (Amendment) Act 1997

Act No. 42/1997 s. 3

3. Principal Act

In this Act, the Financial Management Act 1994	No. 18/1994. Reprint No. 1
is called the Principal Act.	as at 3 August 1995. Further amended by Nos 100/1995, 104/1995,
106/1995 and 73/1996.

4. Annual financial statement

(1) For the heading to Part 5 of the Principal Act,

substitute "PART 5—ANNUAL FINANCIAL

STATEMENT".

(2) In the Principal Act—

(a)	in section 24, for "statement of financial operations" substitute "financial statement";
(b)	in section 25, for "A statement of financial operations—" substitute "A financial statement under section 24—";
(c)	in section 26(1), for "statement of financial operations" substitute "financial statement";
(d)	in section 26(1), for "15 September" substitute "8 September";
(e)	in section 26(2), for "annual statement" substitute "annual financial statement within 2 weeks after receiving the statement under sub-section (1)";
(f)	in section 26(3), for "10 days" substitute "7 days";
(g)	in section 26(4) and (5), for "7 days" substitute "5 days".

Financial Management (Amendment) Act 1997

s. 5 Act No. 42/1997

5. New section 27 substituted

For section 27 of the Principal Act substitute—

"27. Tabling of report

The Minister must cause a copy of the
annual financial statement for a financial
year, together with a copy of the Auditor-
General's report on that statement, to be laid
before each House of the Parliament within 7
sittings days of the House after 30

September next following that year.".

6. Amendment of section 46

In section 46 of the Principal Act, for sub-section
(1) substitute—

"(1) Subject to sub-sections (2) and (3), the

relevant Minister of a department or public
body must cause the report of operations and
audited financial statements of the
department or public body for a financial
year to be laid before each House of the
Parliament after the end of that financial year
and before the end of the next following
fourth month of the year or on the first
sitting day of the House after the end of that

month.".

7. New section 62A inserted

After section 62 of the Principal Act insert—

"62A. Further transitional provisions

Despite the amendment of section 46 by the Financial Management (Amendment) Act 1997, section 46 has effect, in relation to a

public body the financial year of which ends in 1997 before 30 June, as if it had not been so amended.".

Financial Management (Amendment) Act 1997

Act No. 42/1997 s. 8

8. Statute law revision

In the Principal Act—

(a) sections 65 and 66 are repealed;

(b) Schedule 2 is repealed.

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Financial Management (Amendment) Act 1997

Notes Act No. 42/1997

NOTES

†

Minister's second reading speech—

Legislative Assembly: 23 April 1997

Legislative Council: 22 May 1997

The long title for the Bill for this Act was "to make certain amendments
to the Financial Management Act 1994 and for other purposes."