STATUTORY RULES.
1932. No. 41.
REGULATIONS UNDER THE FINANCIAL AGREEMENTS
ENFORCEMENT ACTS 1932.
I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following regulations under the Financial Agreements Enforcement Acts 1932, to come into operation forthwith.
Dated this twenty-ninth day of April, 1932.
ISAAC A. ISAACS
Governor-General.
By His Excellency’s Command,
J. A. LYONS
Treasurer.
Amendment of the Financial Agreements Enforcement Regulations.
1. Regulation 3 of the Financial Agreements Enforcement Regulations is amended by adding at the end thereof the following sub-regulation:—
“(3.) Any person by whom a return is required to be furnished by or under any Act of the State of New South Wales specified in any notice published in the Gazette by the Treasurer under sub-regulation (1.) of this regulation shall, upon the publication of the notice, furnish the return to the Treasurer or to such person as is specified in the notice, and if the notice specifies a time within which, or a manner in which, the return shall be furnished, the person shall furnish the return to the Treasurer or to the person specified in the notice within that time and in that manner.”.
2. Regulation 4 of the Financial Agreements Enforcement Regulations is amended—
(a) by inserting after the word “person” (second occurring) the letter “(a)”; and
(b) by adding at the end thereof the following paragraph—“; and (b) furnish to the Treasurer or to such person as is specified in the notice, and within such time as is so specified, a return, report or statement showing—
(i) what documents relative to any one or more of the respective classes of revenue specified in sub-regulation (1.) of regulation 3 of these Regulations were received or issued by the Minister, officer or person;
(ii) whether copies of the documents so received or issued were made;
(iii) the name and address of the person having the custody or control of any such documents or copies; and
(iv) such other information within his knowledge or possession relating to any of the classes of revenue so specified as is referred to in the notice.”.
1339.—Price 3d.
3. Regulation 6 of the Financial Agreements Enforcement Regulations is amended by omitting the words “any notice published” and inserting in their stead the words “, or request contained in, any notice published or served”.
4. After regulation 7 of the Financial Agreements Enforcement Regulations the following regulation is added:—
Application of Acts Interpretation Acts to these Regulations.
“8. The Acts Interpretation Act 1901-1930 and the Acts Interpretation Act 1904-1930, together with any amendments of either of those Acts which are made from time to time, shall, unless the contrary intention appears, apply to these Regulations as if they were an Act and as if each of these Regulations were a section of an Act.”.
5. After regulation 1 of the Financial Agreements Enforcement Regulations the following regulation is inserted:—
Definition.
“1a. In these Regulations, unless the contrary intention appears, ‘State’ means a State to which the provisions of sections seven to thirteen (inclusive) of the Financial Agreements Enforcement Acts 1932 apply.”.
By Authority: H. J. Green, Government Printer, Canberra.
Overview
The Financial Agreements Enforcement Regulations 1932 were enacted to address the need for streamlined and enforceable financial agreements across states, particularly focusing on revenue collection and reporting mechanisms. This statutory rule, issued under the Financial Agreements Enforcement Acts 1932 by the Governor-General in Council, aims to ensure that financial returns required by the State of New South Wales are submitted accurately and promptly. The regulations were designed to enhance the efficiency of financial oversight and compliance, thereby supporting the overarching policy objective of maintaining fiscal integrity and accountability across state borders. These regulations were crafted by the Commonwealth Government, specifically through the authority of the Treasurer, to provide a cohesive framework that aligns state financial reporting with federal standards.
Scope and Application
The Financial Agreements Enforcement Regulations, as amended by Statutory Rules 1932 No. 41, govern the compliance and enforcement mechanisms under the Financial Agreements Enforcement Acts 1932. These regulations apply to any person or entity required to furnish returns, reports, or statements to the Treasurer or another specified authority in accordance with the notice published in the Gazette by the Treasurer. This includes individuals and entities subject to state-specific financial agreements in New South Wales, as identified in the notice. The regulations extend to the Commonwealth level, ensuring that the enforcement of financial agreements is uniform and legally binding across the specified jurisdiction. The amendments introduced by these regulations focus on enhancing the reporting requirements, ensuring timely and accurate submissions of financial documentation, and specifying the manner in which such returns must be made. The application of the Acts Interpretation Acts to these regulations ensures consistency in interpretation and enforcement, providing clarity and legal certainty to the persons and entities governed by these provisions.
Key Provisions
The Financial Agreements Enforcement Regulations 1932 (C1932L00041) amend existing regulations under the Financial Agreements Enforcement Acts 1932. Regulation 3 now includes a new sub-regulation (3.) which requires any person specified in a notice published in the Gazette by the Treasurer to furnish a return to the Treasurer or to the person specified in the notice. If the notice includes a time or manner for the return to be submitted, these must be adhered to (Regulation 1). Regulation 4 is also amended to require individuals to provide a detailed return or report to the Treasurer or the specified person, including information about documents received or issued, whether copies were made, the custodian of those documents, and any other relevant information (Regulation 2). Furthermore, Regulation 6 now allows for requests contained in notices to be considered in the same manner as notices published (Regulation 3). A new Regulation 8 is added, stating that the Acts Interpretation Act 1901-1930 and the Acts Interpretation Act 1904-1930, including their amendments, apply to these Regulations as if they were an Act (Regulation 4). A new Regulation 1a defines the term 'State' within the context of these Regulations (Regulation 5).
The obligations imposed by these regulations require individuals to comply with notices published by the Treasurer, including timely submission of required returns, reports, and statements. Specifically, Regulation 3 mandates that any person mentioned in a Gazette notice must furnish a return to the Treasurer or the specified person within the stipulated timeframe and manner. Regulation 4 requires more detailed information to be provided, such as details about documents related to revenue classes and their custodians. Regulation 6 extends the scope of compliance to include requests in notices, not just published notices.
In terms of penalties and consequences, the regulations themselves do not specify penalties for non-compliance. However, under the Financial Agreements Enforcement Acts 1932, failure to comply with these regulations could lead to legal consequences, including potential fines or other penalties as prescribed by the relevant Acts. The exact penalties would be determined based on the specific breaches and the provisions of the broader legislative framework.