Financial Management and Accountability Act 1997 Determination 2009/03 - Section 32 (Transfer of Functions from ACCC to Treasury)

Overview

The FMA Act Determination 2009/03, issued on 29 January 2009, was enacted under the authority of the Minister for Finance and Deregulation and relates to the Financial Management and Accountability Act 1997. The primary purpose of this instrument is to facilitate the transfer of budgetary allocations and functions from the Australian Competition and Consumer Commission (ACCC) to the Department of the Treasury. Specifically, it addresses the reallocation of funds associated with the transfer of the Monitoring of Grocery Prices function. The determination amends the Appropriation Acts (No. 1 and No. 2) for the financial year 2008-2009, reducing the departmental item and Previous Years' Outputs for the ACCC and correspondingly increasing those for the Department of the Treasury. This transfer reflects the policy objective of reassigning responsibilities and resources within government agencies to better align with strategic priorities.

Scope and Application

The FMA Act Determination 2009/03 pertains to the transfer of financial responsibilities and appropriations from the Australian Competition and Consumer Commission (ACCC) to the Department of the Treasury. Pursuant to the Financial Management and Accountability Act 1997, this determination modifies the Appropriation Acts (No. 1 and No. 2) for the fiscal year 2008-2009, reallocating specific funds previously allocated to the ACCC towards the Treasury. This reallocation is in response to the transfer of the Monitoring of Grocery Prices function from the ACCC to the Treasury, as indicated by the adjustments to both the departmental items and previous years' outputs within the appropriation acts. The instrument has been crafted under the authority delegated by the Minister for Finance and Deregulation and involves the consultation of both the ACCC and Treasury in its preparation, as required by the Legislative Instruments Act 2003. This legislative instrument represents a precise and formal reallocation of financial resources to reflect the shift in functional responsibilities between these two entities.

Key Provisions

The FMA Act Determination 2009/03 (Section 32) pertains to the transfer of functions and associated funding between the Australian Competition and Consumer Commission (ACCC) and the Department of the Treasury (Treasury). Specifically, it involves the transfer of an amount of $1,060,210.00 from the ACCC's departmental item to Treasury's departmental item under Appropriation Act (No. 1) 2008-2009, and $949,039.00 from ACCC's 'Previous Years' Outputs' to Treasury's 'Previous Years' Outputs' under Appropriation Act (No. 2) 2008-2009. This transfer is linked to the relocation of the Monitoring of Grocery Prices function from the ACCC to the Treasury. The determination imposes the requirement on the ACCC to reduce its departmental funding by the specified amounts and for the Treasury to increase its funding by the same amounts. It also requires the ACCC and Treasury to ensure that the transfer of functions is carried out smoothly, including the transition of staff, resources, and systems related to the Monitoring of Grocery Prices function. Additionally, the ACCC and Treasury must update their records to reflect the changes in their funding allocations. Failure to comply with the provisions of this determination could lead to legal consequences, although the specific offences, penalties, or consequences are not detailed in the provided text. Given that this is a legislative instrument under the Legislative Instruments Act 2003, any breach of the requirements set forth in the determination could potentially lead to administrative actions, including financial penalties or other sanctions as prescribed by the relevant legislation. The exact nature of these penalties would depend on the specific provisions of the Financial Management and Accountability Act 1997 (FMA Act) and any related regulations or guidelines.