Finance Regulations (Amendment)

Overview

The Finance Regulations (Amendment) 1991 No. 135, issued under the authority of the Minister for Finance, aims to address a gap in the Audit Act 1901 by amending Finance Regulation 6A. This amendment was necessary to incorporate the Administrative Appeals Tribunal and the Family and Federal Courts as prescribed authorities, thereby aligning them with the definition of "Department" in section 2 of the Act, subregulation 4(1) of the Finance Regulations, and regulation 2 of the Finance (Overseas) Regulations. By doing so, these bodies are empowered to operate independently in financial administration matters, free from oversight by the Attorney-General's Department. The policy objective behind this amendment is to ensure that these specified authorities have the requisite autonomy to manage their financial affairs effectively, in line with the broader framework of the Audit Act 1901.

Scope and Application

The Finance Regulations (Amendment) 1991 No. 135, issued under the authority of the Minister for Finance, makes amendments to the Finance Regulation 6A of the Audit Act 1901. This amendment designates the Administrative Appeals Tribunal and the Family and Federal Courts as prescribed authorities, thus aligning them with the definition of "Department" in section 2 of the Audit Act 1901, subregulation 4(1) of the Finance Regulations, and regulation 2 of the Finance (Overseas) Regulations. These bodies are now recognised as independent entities in financial administration matters, operating autonomously from the Attorney-General's Department. The amendment extends the application of the Act by incorporating these additional authorities, thereby broadening the scope of financial oversight and administration within the Commonwealth jurisdiction.

Key Provisions

The main operative sections of the Finance Regulations (Amendment) 1991 No. 135 (the Amendment) declare the Administrative Appeals Tribunal and the Family and Federal Courts to be prescribed authorities under the Audit Act 1901 (the Act). This declaration is made through the amendment of Finance Regulation 6A (subsection 71(1) of the Act), specifically in subregulation 4(1) of the Finance Regulations and regulation 2 of the Finance (Overseas) Regulations. These changes bring the Administrative Appeals Tribunal and the Family and Federal Courts within the definition of "Department" in section 2 of the Act. This amendment ensures that these bodies will now operate independently of the Attorney-General's Department in matters of financial administration. The obligations and requirements imposed by the Amendment on the Administrative Appeals Tribunal and the Family and Federal Courts are primarily centred around their new status as prescribed authorities. As prescribed authorities, these bodies must adhere to the financial administration provisions outlined in the Audit Act 1901. This includes maintaining financial records, submitting financial reports, and complying with any other financial management requirements stipulated under the Act. The independence from the Attorney-General's Department means these bodies have the autonomy to manage their finances and related administrative processes without direct oversight from the Attorney-General's Department. The Amendment also outlines consequences for non-compliance with the financial administration requirements. While the Amendment does not explicitly list offences or penalties, breaches of financial regulations under the Audit Act 1901 can result in civil or criminal penalties. For civil penalties, the Act provides for fines, and for criminal offences, penalties can include imprisonment. The exact penalties would be determined by the specific nature of the breach and any relevant statutory provisions. The independence granted by this Amendment could potentially affect the oversight and accountability mechanisms, thus making compliance even more critical to avoid any adverse legal consequences.