Overview

The Determination to Reduce Appropriations Upon Request (No. 8 of 2010-2011), made under the authority of the Minister for Finance and Deregulation on 10 March 2011, aims to adjust the appropriations for the Australian Trade Commission (Austrade) to account for surplus funds resulting from exchange rate differences due to a stronger Australian dollar. This legislative instrument was enacted under the provisions of the Appropriation Acts from 2006 to 2010, allowing the Minister for Finance and Deregulation to reduce appropriations upon a request from the relevant Minister. The policy objective is to ensure that the government's financial resources are efficiently allocated and managed, adhering to the Australian Government Foreign Exchange Risk Management Guidelines. The instrument reduces specified departmental items and other departmental items (Previous Years Outputs) for Austrade across multiple fiscal years to reflect the surplus funds.

Scope and Application

This legislation, F2011L00457, pertains to a determination made to reduce certain appropriations under the Appropriation Acts for the Australian Trade Commission (Austrade) as requested by the Minister for Trade. The Act applies specifically to Austrade, an agency under the Australian Government responsible for promoting Australian exports and investment. The determination affects the financial appropriations allocated to Austrade across several fiscal years, namely Appropriation Act (No. 1) 2009-2010, Appropriation Act (No. 1) 2008-2009, Appropriation Act (No. 1) 2007-2008, and Appropriation Act (No. 1) 2006-2007, as well as the Appropriation Act (No. 2) 2009-2010. The reductions are a result of exchange rate differences due to a stronger Australian dollar, making certain funds surplus to Austrade's requirements. The instrument is within the jurisdiction of the Commonwealth and is made pursuant to the legislative authority granted under the Appropriation Acts mentioned. The reductions are executed through the Minister for Finance and Deregulation, who is mandated to make these adjustments upon receiving a written request from the Minister for Trade. The Act does not explicitly mention any exclusions or exemptions, but it is specific to the appropriation items listed and the fiscal years mentioned. The reductions are detailed in the schedules of the instrument, which outline the affected appropriation acts, items, the request by the responsible Minister, and the specified reduction amounts.

Key Provisions

The main operative sections of the Determination to Reduce Appropriations Upon Request (No. 8 of 2010-2011) involve reducing appropriation items for the Australian Trade Commission (Austrade). Specifically, Schedule 1 reduces the departmental item for Austrade in Appropriation Act (No. 1) 2009-2010 by $10,977,000.00, Schedule 2 reduces the other departmental item (Previous Years Outputs) for Austrade in Appropriation Act (No. 2) 2009-2010 by $676,000.00, Schedule 3 reduces the departmental item for Austrade in Appropriation Act (No. 1) 2008-2009 by $2,656,000.00, Schedule 4 reduces the departmental item for Austrade in Appropriation Act (No. 1) 2007-2008 by $3,661,000.00, and Schedule 5 reduces the departmental item for Austrade in Appropriation Act (No. 1) 2006-2007 by $2,167,000.00. These sections outline the reductions that are being implemented to account for surplus appropriations due to exchange rate differences from the stronger Australian dollar. The obligations and requirements imposed by the Act on the parties or entities it governs are primarily procedural. The Minister for Finance and Deregulation is authorised to make a written determination reducing a departmental item for an agency by the amount specified in the Determination, upon receipt of a written request from the Minister responsible for that agency (subsection 10(2) of Appropriation Act (No. 1) 2009-2010; and Appropriation Act (No. 1) 2008-2009 and, Subsection 9(1) of Appropriation Act (No. 1) 2007-2008). The Minister for Finance and Deregulation is also empowered to reduce an other departmental item (Previous Years Outputs) for an agency by the amount specified in the Determination, upon receipt of a written request from the Minister responsible for that agency (subsection 13(2) of Appropriation Act (No. 2) 2009-2010). These determinations are legislative instruments and are disallowable, meaning they can be reviewed and potentially overturned by Parliament. Any breaches of the provisions in this Act could result in civil or criminal consequences, although specific offences are not outlined in the Act. The maximum penalties for breaches of the Act are not explicitly stated within the text. However, the nature of the determinations and the legislative framework suggest that non-compliance could lead to financial penalties or legal actions, depending on the context and extent of the breach. The disallowable nature of the determinations means that Parliament has the authority to review and overturn them if deemed necessary.