Untitled document

Financial Management (Miscellaneous Amendments) Act 2006

Act No. 26/2006

table of provisions

Section  Page

1.Purpose

2.Commencement

3.Principal Act

4.Directions

5.Annual financial report—unused appropriation

6.New section 29 substituted

29.Appropriation of certain revenue and asset proceeds

7.Unused appropriation

8.Tabling the annual budget estimates

9.New section 54P substituted

54P.Licensing and leasing of surplus Crown land and buildings

10.Regulations

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Endnotes

Financial Management (Miscellaneous Amendments) Act 2006

[Assented to 6 June 2006]

The Parliament of Victoria enacts as follows:

1.Purpose

The purpose of this Act is to amend the Financial Management Act 1994 to—

(a)update the budget management provisions;

(b)clarify the Minister's powers regarding land;

(c)update the regulation and direction making powers.

2.Commencement

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

3.Principal Act

In this Act, the Financial Management Act 1994 is called the Principal Act.

4.Directions

(1)For section 8(1) of the Principal Act substitute—

"(1)The Minister may give an authority, a public body, an accountable officer or a chief finance and accounting officer directions in writing for or with respect to any of the matters for or with respect to which regulations may be made under this Act.

Note:Section 59 sets out the matters for or with respect to which regulations may be made under this Act.".

(2)After section 8(2) of the Principal Act insert—

"(3)Directions—

(a)may be of a general or limited application;

(b)may differ according to differences in time, place or circumstances;

(c)may confer a discretionary authority or impose a duty on a specified person or class of person;

(d)may provide in a specified case or class of case for the exemption of persons or things or class of persons or things from any of the provisions of the directions, whether unconditionally or on specified conditions and either wholly or to such an extent as is specified.

(4)A direction may adopt, apply or incorporate the whole or any part of a statement of accounting standards or statement of accounting practice issued at any time before the direction is made by all or any of the persons or bodies referred to in section 59(3).

(5)For the avoidance of doubt, the power to make directions under sub-section (1) extends to directions with respect to money in a Trust Account in the Trust Fund that is established by or under another Act.".

5.Annual financial report—unused appropriation

For section 24(2)(g) of the Principal Act substitute—

"(g)must include details of—

(i)amounts appropriated in respect of the financial year as a result of a determination under section 32 in respect of unused appropriation for the preceding financial year;

(ii)the application during the financial year of amounts referred to in sub-paragraph (i);

(iii)amounts appropriated in respect of the next financial year as a result of a determination under section 32 in respect of unused appropriation for the financial year;".

6.New section 29 substituted

For section 29 of the Principal Act substitute—

"29.Appropriation of certain revenue and asset proceeds

(1)This section applies if a Schedule to an appropriation Act provides that this section applies in relation to an item in respect of a department set out in that Schedule.

(2)If this section applies—

(a)revenue receivable—

(i)from the provision of outputs by the department; or

(ii)by way of specific purpose payment by the Commonwealth; or

(iii)by way of specific purpose payment by a municipal council; or

(b)proceeds received from the disposal of assets shown in the accounts of the department—

may be credited to the item to the extent, and on the conditions, agreed between the Minister administering this section and the Minister responsible for the administration of the item.

(3)For the purposes of sub-section (2)—

(a)an amount equal to an amount credited under that sub-section is deemed to have been appropriated for the purposes of the item; and

(b)the Minister may issue that amount out of the Consolidated Fund and apply it accordingly.".

7.Unused appropriation

(1)Section 32(2) of the Principal Act is repealed.

(2)For section 32(4) of the Principal Act substitute—

"(4)A statement under section 40 must include the estimated amounts for which determinations under this section may be made in respect of unused appropriation for the preceding financial year.".

8.Tabling the annual budget estimates

For section 40(2) of the Principal Act substitute—

"(2)The Minister must cause the statement to be laid before—

(a)the Legislative Assembly on or before the day on which the second readings of the annual appropriation Bills are moved; and

(b)the Legislative Council on the same day that it is laid before the Legislative Assembly or, if the Council is not sitting on that day, on the next sitting day of the Council.".

9.New section 54P substituted

For section 54P of the Principal Act substitute—

"54P.Licensing and leasing of surplus Crown land and buildings

(1)The Minister may grant any person a lease over, or a licence to enter and use—

(a)any Crown land; or

(b)any building or other structure, or part of a building or structure, on Crown land—

that is not required for the purposes of a department or a Minister or any other public purpose.

(2)A lease or licence may be granted under this section on any terms and conditions the Minister thinks fit.

(3)This section applies despite anything in the Land Act 1958.".

10.Regulations

In section 59 of the Principal Act—

(a)for sub-section (1)(a) and (b) substitute—

"(a)financial governance and oversight, including financial risk management and internal audit;

(b)structures, systems and procedures in authorities and public bodies to ensure proper financial management;";

(b)for sub-section (1)(d), (da) and (e) substitute—

"(d)financial reporting, including the form and content of reports of operations, financial statements and information required under Part 7;

(e)policies and procedures to ensure that authorities and public bodies comply with obligations imposed on them by or under this Act;";

(c)in sub-section (1A), omit "for or with respect to public money or the Public Account".

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Endnotes

Minister's second reading speech—

Legislative Assembly: 30 March 2006

Legislative Council: 4 May 2006

The long title for the Bill for this Act was "to amend the Financial Management Act 1994 in relation to budget management, powers over land and financial regulations and directions and for other purposes."