Financial Management and Accountability (Determination 2004/10 — Commonwealth Parliamentary Association Conference and Seminar Contributions Account) Abolition 2004

Overview

The Financial Management and Accountability (Determination 2004/10 — Commonwealth Parliamentary Association Conference and Seminar Contributions Account) Abolition 2004, made under the Financial Management and Accountability Act 1997, was enacted to address the need for efficient and effective financial management within the Commonwealth by abolishing the Commonwealth Parliamentary Association Conference and Seminar Contributions Account. The determination was made by Nick Minchin, the Minister for Finance and Administration, on 15 June 2004, and it came into effect immediately upon its creation. The objective of the determination was to ensure that financial resources were allocated and managed in a manner consistent with the overarching policy of fiscal responsibility and accountability, by eliminating an account that was no longer necessary as its appropriation balance reached zero.

Scope and Application

The Financial Management and Accountability (Determination 2004/10 — Commonwealth Parliamentary Association Conference and Seminar Contributions Account) Abolition 2004, issued under the Financial Management and Accountability Act 1997, applies to the Commonwealth Parliamentary Association Conference and Seminar Contributions Account. This Determination, made by Nick Minchin, the Minister for Finance and Administration, signifies the abolition of the specified account and is effective from the date it is made. The geographic and jurisdictional reach of this Determination is within the Commonwealth of Australia, encompassing the federal level of government. It does not specify exclusions, exemptions, or thresholds, but it does detail the abolition of a particular account which is tied to the financial contributions for Commonwealth Parliamentary Association conferences and seminars. The scope of this Determination is limited to the financial management and accountability practices of the Commonwealth, with no mention of subordinate instruments extending or restricting its application.

Key Provisions

The primary operative section of this Determination is Section 2, which provides for the abolition of the Commonwealth Parliamentary Association Conference and Seminar Contributions Account. This account is abolished once the balance of its appropriation reaches zero (Section 2). This effectively means that the account ceases to exist and any remaining funds will no longer be allocated or available for contributions towards conferences and seminars under this account. The Determination imposes obligations on the relevant parties by clearly stating the conditions under which the account will be abolished. Specifically, it requires that the account be wound up once the appropriation balance reaches zero. This means that any outstanding contributions or obligations associated with the account must be managed and finalised before the account is officially closed. The account's abolition signifies a formal end to any financial activities related to it. There are no explicit offences, penalties, or consequences outlined in this Determination for the breach of its provisions. However, the obligations placed upon the relevant parties to manage the closure of the account must be adhered to. Failure to properly wind up the account and manage its remaining funds could lead to broader financial management and accountability issues under the Financial Management and Accountability Act 1997. Such failures might attract scrutiny or action under the general provisions of that Act, though specific penalties are not detailed within this Determination.