EXPLANATORY STATEMENT
Issued by the Authority of the Minister for Finance and Deregulation
FMA Act Determination 2007/05— section 32 (Transfer from the
Department of Industry, Tourism and Resources to the
Department of Innovation, Industry, Science and Research)
Subsection 32(2) of the Financial Management and Accountability Act 1997 (FMA Act) provides that the Minister for Finance and Deregulation (Finance Minister) may, by determination, amend Schedules to annual Appropriation Acts to transfer appropriations in connection with the transfer of a function between agencies under the FMA Act. The determination has the effect of amending the Schedule concerned in accordance with the determination.
This power has been delegated from the Finance Minister to the Secretary of the Department of Finance and Deregulation under section 62 of the FMA Act.
Gazette No. S254 reflects the administrative arrangement order of 3 December 2007, made by the Governor-General in Council, which resulted in the abolition and establishment of Departments of State. As a result of these changes various annual Appropriation Acts require amendment in order to reflect the changes in departmental arrangements.
The purpose of this Determination is to allow a transfer of appropriations from the Department of Industry, Tourism and Resources to the Department of Innovation, Industry, Science and Research. The appropriation amounts transferred are as follows:
- From annual Appropriation Act (No. 1) 2007-2008 an amount of $174,536,374.78 of the departmental item of the Department of Industry, Tourism and Resources was transferred to the Department of Innovation, Industry, Science and Research.
- Also from the same Act, the following two amounts of $174,536,374.78 and $152,856,524.30 under two administered items for the Department of Industry, Tourism and Resources was transferred to the Department of Innovation, Industry, Science and Research.
- From annual Appropriation Act (No. 2) 2007-2008 an amount of $12,156,740 in equity injections for the Department of Industry, Tourism and Resources was transferred to the Department of Innovation, Industry, Science and Research.
- Also from the same Act an amount of $32,038,132.49 in administered assets and liabilities for the Department of Industry, Tourism and Resources was transferred to the Department of Innovation, Industry, Science and Research.
In relation to section 17 of the Legislative Instruments Acts 2003, no external consultation was undertaken as changes in the Act are of machinery nature.
The Determination is a legislative instrument for the purposes of the Legislative Instruments Act 2003.