Financial Management and Accountability Amendment Regulations 2010 (No. 4)

Overview

The Financial Management and Accountability Amendment Regulations 2010 (No. 4) were enacted to address the need for updated regulations under the Financial Management and Accountability Act 1997 in response to the establishment of the Office of the Australian Information Commissioner (OAIC) as per the Australian Information Commissioner Act 2010. These Regulations were issued by the Minister for Finance and Deregulation under the authority granted by subsection 65(1) of the FMA Act, which allows for the creation of regulations necessary for implementing the Act. The Regulations amend Schedule 1 of the Financial Management and Accountability Regulations 1997 to include the OAIC as a prescribed Agency, reflecting its new status and role, and to remove the Office of the Privacy Commissioner as a prescribed Agency since it was integrated into the OAIC. This legislative adjustment ensures that the OAIC is properly recognised within the framework established by the FMA Act, facilitating its functions and responsibilities.

Scope and Application

The Financial Management and Accountability Amendment Regulations 2010 (No. 4) amends the Financial Management and Accountability Regulations 1997 by updating the list of prescribed agencies under the Financial Management and Accountability Act 1997. This Act provides a framework for the management of public money and property by Chief Executives and officials of specified agencies. The regulations now include the Office of the Australian Information Commissioner as a prescribed agency, effective from 1 November 2010, while removing the Office of the Privacy Commissioner due to its incorporation into the OAIC. The regulations do not impose any conditions or thresholds for their application and were made under the authority of the Minister for Finance and Deregulation. The amendments are considered to have no or low regulatory impact, thus not requiring a Regulatory Impact Statement. The Regulations are a legislative instrument under the Legislative Instruments Act 2003 and came into effect on 1 November 2010.

Key Provisions

The Financial Management and Accountability Amendment Regulations 2010 (No. 4) make specific adjustments to Schedule 1 of the Financial Management and Accountability Regulations 1997, as authorised by section 65(1) of the Financial Management and Accountability Act 1997 (FMA Act). These amendments are primarily concerned with the inclusion and exclusion of certain agencies within the scope of the FMA Act. Notably, the Office of the Australian Information Commissioner (OAIC) is now included as a prescribed agency (regulation 3), reflecting its establishment under the Australian Information Commissioner Act 2010. Conversely, the Office of the Privacy Commissioner has been excluded from the list of prescribed agencies (regulation 4), as its functions have been incorporated into the OAIC. These changes were effective from 1 November 2010. The Regulations impose obligations on the entities newly included as prescribed agencies, such as the OAIC, to adhere to the financial management and accountability standards set out in the FMA Act. This includes ensuring proper management and oversight of public funds and property, maintaining financial records, and reporting as required by the Act. For agencies newly excluded from the scope of the FMA Act, such as the Office of the Privacy Commissioner, the cessation of certain obligations under the Act occurs, with their functions and responsibilities now subsumed within the OAIC. These amendments necessitate adjustments in administrative practices and compliance protocols for the affected agencies. The FMA Act itself does not specify particular offences, penalties, or consequences for breaches of the regulations made under it. However, the overarching framework of the FMA Act implies that non-compliance with its provisions could lead to various civil or administrative penalties. For instance, breaches may result in disciplinary actions against public officers, financial penalties, or other corrective measures as deemed appropriate by the responsible authorities. The exact penalties for specific breaches would depend on the nature and severity of the non-compliance, as well as any additional provisions in related legislation. The regulations aim to ensure that agencies maintain high standards of financial integrity and accountability in managing public resources.