Overview
The FMA Act Determination 2008/68 was enacted on 14 November 2008 under the authority of the Minister for Finance and Deregulation, as part of a series of measures designed to address the need for efficient allocation of government resources. This determination was made pursuant to subsection 32(2) of the Financial Management and Accountability Act 1997, which empowers the Minister to adjust appropriation acts in response to the transfer of functions between agencies. The instrument effectively shifts a budgetary allocation of $1,578,197.63 from the Department of Innovation, Industry, Science and Research to the Australian Trade Commission, reflecting a strategic government decision to reallocate resources to enhance specific functions. This transfer aligns with the overarching policy objective of ensuring that public funds are optimally directed to support national priorities, particularly in the areas of international trade and investment promotion. The determination was prepared with consultation from both DIISR and Austrade, in accordance with the Legislative Instruments Act 2003.
Scope and Application
The FMA Act Determination 2008/68 pertains to a transfer of functions from the Department of Innovation, Industry, Science and Research (DIISR) to the Australian Trade Commission (Austrade), as authorised under the Financial Management and Accountability Act 1997 (FMA Act). Specifically, the instrument, made on 14 November 2008, facilitates the transfer of a financial allocation from DIISR to Austrade. This transfer is reflected in an adjustment to the Appropriation Act (No. 1) 2005-2006, reducing DIISR's departmental item by $1,578,197.63 and correspondingly increasing Austrade's departmental item. The instrument ensures that the financial appropriations are aligned with the Government's decision to reassign the Global Opportunities Program and investment promotion functions from DIISR to Austrade. The determination follows the consultation process outlined in the Legislative Instruments Act 2003, and it serves to formalise the financial reallocation within the specified appropriation act.
Key Provisions
The FMA Act Determination 2008/68 (Section 32) primarily deals with the transfer of a specific amount of money from the Department of Innovation, Industry, Science and Research (DIISR) to the Australian Trade Commission (Austrade). This transfer is in accordance with the legislative authority provided by subsection 32(2) of the Financial Management and Accountability Act 1997 (FMA Act). The determination facilitates the transfer of $1,578,197.63 from the departmental item for DIISR to that for Austrade, reflecting the government's decision to shift certain functions related to the Global Opportunities Program and investment promotion from DIISR to Austrade. The changes are enacted to be reflected in the Appropriation Act (No. 1) 2005-2006, reducing DIISR’s departmental item by the transferred amount and increasing Austrade’s departmental item by the same amount.
The obligations imposed by this determination primarily concern the financial adjustments and administrative processes required to effectuate the transfer of funds. The Minister for Finance and Deregulation, as well as the Secretary of the Department of Finance and Deregulation, must ensure that the necessary amendments to the Appropriation Act are made accurately and in a timely manner. This involves consultation with both DIISR and Austrade, as stipulated by the Legislative Instruments Act 2003, to ensure that all parties are informed and that the transfer aligns with the government's strategic objectives. The determination also requires that the officials within the Department of Finance and Deregulation follow the appropriate protocols in amending the appropriation act, ensuring that the legislative changes are properly documented and communicated.
Failure to comply with the provisions of this determination could potentially result in administrative errors or financial discrepancies. However, the explanatory statement does not explicitly outline specific offences, penalties, or consequences for non-compliance. The penalties for breaches would generally be governed by the broader provisions of the FMA Act and other relevant legislation, which might include administrative sanctions, financial penalties, or legal actions if the breach results in significant financial mismanagement or if it is found to be in violation of statutory requirements. It is essential that the officials involved adhere strictly to the legislative processes to avoid any potential legal or financial repercussions.