Financial Management and Accountability Act 1997 - Determination to Abolish the Lady Davidson Repatriation Hospital Reserve (30/06/1998)

Overview

The Financial Management and Accountability Act 1997, enacted by the Commonwealth Parliament, was introduced to ensure sound financial management and accountability within the Commonwealth public sector. One of the Act's purposes is to provide for the creation, administration, and abolition of reserves, as outlined in section 20(4), which empowers the Finance Chief Executive to delegate the power to determine the abolition of a reserve. This legislative instrument, F2007B00130, executed on 30 June 1998, represents the application of that authority, whereby the Lady Davidson Repatriation Hospital Reserve was abolished by Dean Kingsley Wallace, the Special Adviser of the Financial Framework Branch, acting as the delegate of the Finance Chief Executive. This action reflects the policy objective of efficient financial resource management and the adaptation of financial frameworks to changing needs within the public sector.

Scope and Application

The determination to abolish the Lady Davidson Repatriation Hospital Reserve under subsection 20(4) of the Financial Management and Accountability Act 1997 applies to the specific entity known as the Lady Davidson Repatriation Hospital Reserve. This decision, made by the Special Adviser, Financial Framework Branch, Dean Kingsley Wallace, on 30 June 1998, falls within the Commonwealth jurisdiction and is executed under the delegation of powers from the Finance Chief Executive as outlined in section 53 of the Act. The abolition of this reserve pertains to the financial and accountability management framework of the Commonwealth of Australia, affecting how funds previously allocated to this reserve are to be managed henceforth. The determination does not explicitly state any exclusions, exemptions, or thresholds that apply in this context, and it is executed directly through the legislative instrument without the need for subordinate instruments to extend or restrict its application.

Key Provisions

The primary operative section of this legislative instrument is Subsection 20(4) of the Financial Management and Accountability Act 1997 (subsection 20(4)), which authorises the determination to abolish the Lady Davidson Repatriation Hospital Reserve. This determination, made by Dean Kingsley Wallace, Special Adviser in the Financial Framework Branch, acting under the powers delegated by the Finance Chief Executive under section 53 of the Act, officially dissolves the Lady Davidson Repatriation Hospital Reserve as of 30 June 1998. The abolition of this reserve means that any assets, funds, or obligations previously held by the reserve are to be managed in accordance with other relevant provisions of the Act or any other applicable legislation. The Act imposes obligations on the relevant parties to ensure that the abolition of the Lady Davidson Repatriation Hospital Reserve is conducted in a manner that is compliant with the Act and any other relevant legislative requirements. This includes the proper accounting for any assets, funds, or liabilities that were held by the reserve prior to its abolition. The Finance Chief Executive, through the delegate, must ensure that the transition is managed in a way that maintains financial integrity and transparency. The Act also requires that any affected stakeholders, such as beneficiaries of the reserve or other interested parties, be appropriately notified of the changes. Breaches of the obligations and requirements set out in the Act may result in civil or criminal consequences. The Act does not specify particular offences or penalties in relation to the abolition of the Lady Davidson Repatriation Hospital Reserve, but general provisions within the Financial Management and Accountability Act 1997 may apply. For instance, if the abolition process is not handled in accordance with the Act, it could potentially lead to disciplinary action against the responsible officers or even criminal charges for fraudulent or wilful mismanagement of public funds. The specific penalties for such breaches would depend on the nature and severity of the breach, but could include fines and imprisonment, as outlined in other sections of the Act.