Financial Management and Accountability (Abolition of Accounts) Determination 2003/03
I, NICHOLAS HUGH MINCHIN, Minister for Finance and Administration, make this Determination under subsection 20 (3) of the Financial Management and Accountability Act 1997.
Dated 25 June 2003
Nick Minchin
Minister for Finance and Administration
1 Name of Determination
This Determination is the Financial Management and Accountability (Abolition of Accounts) Determination 2003/03.
Note This Determination commences in accordance with section 22 of the Financial Management and Accountability Act 1997.
2 Abolition of Special Accounts
The Special Accounts specified in Schedule 1 are abolished.
Schedule 1 Special Accounts to be abolished
(section 2)
Agency to which Special Account relates | Special Account |
Attorney-General’s Department | AUSCRIPT — Commonwealth Reporting Service Account |
AUSTRAC | Law Enforcement Projects Account |
Australian Electoral Commission | Funds Held Pending Refund Account |
Australian Federal Police | Law Enforcement Projects Account Sponsored Activities Account |
Department of Agriculture, Fisheries and Forestry | Federation Fund Account |
Department of Defence | Defence Support Centre — Woomera Account |
Department of Education, Science and Training | Superannuation Productivity Benefits ATAS Tutors Account |
Department of Family and Community Services | National Child Care Strategy Account for New South Wales National Child Care Strategy Account for Victoria National Child Care Strategy Account for Queensland National Child Care Strategy Account for Western Australia National Child Care Strategy Account for the Australian Capital Territory National Child Care Strategy Account for South Australia National Child Care Strategy Account for Tasmania National Child Care Strategy Account for the Northern Territory National Housing Research Account |
Department of Health and Ageing | Federation Fund Account Health and Community Services — Ministerial Council Account Nursing Home Sales Account PBPA - Factor (f) Funds Account Rehabilitation Services Account |
Department of the House of Representatives | Commonwealth Parliamentary Association Commonwealth of Australia Branch Account |
Department of Industry, Tourism and Resources | Australia and New Zealand Minerals and Energy Council Energy Sector Account Building Research Account |
| Federation Fund Account Housing Cost Program Account |
Department of Transport and Regional Services | Christmas Island Community Benefit Fee Account Federal Office of Road Safety Research and Public Education Program Account |
Department of Veterans’ Affairs | Federation Fund Account |
Department of the Treasury | Ministerial Council on Consumer Affairs Account Commonwealth Consumer Affairs Advisory Council Account Advisory Panel for Marketing in Australia of Infant Formula Account |
Geoscience Australia | Australian Surveying and Land Information Group Account |
Office of the Director of Public Prosecutions | Law Enforcement Projects Account |
Overview
The Financial Management and Accountability (Abolition of Accounts) Determination 2003/03 was made under the Financial Management and Accountability Act 1997 by the Minister for Finance and Administration, Nicholas Hugh Minchin. This legislative instrument aims to address the need for a streamlined financial management framework by abolishing certain special accounts that were previously used for specific purposes across various government departments and agencies. The abolition of these accounts is intended to enhance the efficiency and accountability of financial management within the Commonwealth.
This Determination provides a comprehensive list of special accounts to be abolished, which were identified as redundant or no longer necessary for their original purposes. The policy objective behind this legislation is to ensure that the financial management practices within the Australian government are more cohesive and better aligned with modern administrative requirements, thereby improving overall accountability and fiscal responsibility.
Scope and Application
The Financial Management and Accountability (Abolition of Accounts) Determination 2003/03, made under the Financial Management and Accountability Act 1997, applies to various Commonwealth departments and agencies by abolishing specific Special Accounts as detailed in Schedule 1. This Determination directly affects the management and accountability of financial transactions within the specified departments and agencies by eliminating the designated Special Accounts. The geographic reach of this Determination is confined to the Commonwealth level, impacting entities such as the Attorney-General’s Department, AUSTRAC, the Australian Electoral Commission, and others listed in the Schedule. It does not explicitly extend to state or territory entities, nor does it address private entities or individuals outside the Commonwealth scope. The abolition of these accounts is effective from the commencement date stipulated under section 22 of the Act, with no stated exclusions or exemptions within the text, thereby applying comprehensively to the listed accounts. The scope of application may be further detailed or modified through subordinate instruments under the Act.
Key Provisions
The Financial Management and Accountability (Abolition of Accounts) Determination 2003/03 (the Determination) is a legislative instrument that abolishes certain Special Accounts as specified in Schedule 1. This Determination is made under subsection 20(3) of the Financial Management and Accountability Act 1997 (the Act). The primary operative sections of this Determination include the abolition of the specified Special Accounts, which are listed in Schedule 1 (section 2). The accounts affected are tied to various government agencies, including the Attorney-General’s Department, AUSTRAC, Australian Electoral Commission, and several others.
The Determination imposes clear obligations on the entities governed by the Act. It mandates the cessation of operations for the specified Special Accounts, requiring that any funds, assets, or liabilities associated with these accounts be transferred to the relevant main departmental account or other designated account. This transfer must be completed in accordance with the provisions of the Act, ensuring that all financial records are accurately maintained and updated to reflect the changes. The entities affected must ensure that all financial transactions are properly documented and that any relevant stakeholders are informed of the account changes.
Failure to comply with the provisions of the Determination may result in various consequences. While the Determination itself does not explicitly detail penalties, breaches of the Act can lead to civil or criminal penalties as outlined in other sections of the Act. For instance, section 33 of the Act provides for civil penalties, including fines up to $11,000 for individuals and significantly higher amounts for bodies corporate, for breaches of the Act. Additionally, section 34 allows for the imposition of criminal penalties, including fines of up to $66,000 for individuals and higher for bodies corporate, for serious breaches that may involve fraud or dishonesty. It is essential for the governed entities to adhere strictly to the requirements set forth in the Determination to avoid these potential legal repercussions.