Financial Management and Accountability (Determination 2004/12 — Bureau of Tourism Research Account) Abolition 2004

Overview

The Financial Management and Accountability (Determination 2004/12 — Bureau of Tourism Research Account) Abolition 2004, enacted in 2004, was introduced to address the need for the abolition of the Bureau of Tourism Research Account within the framework of financial management and accountability. This legislative instrument was made by Nick Minchin, the Minister for Finance and Administration, under subsection 20(3) of the Financial Management and Accountability Act 1997. The policy objective of this Determination is to streamline financial management processes by abolishing the specified account, thereby enhancing accountability and efficiency within the financial system. The abolition of the Bureau of Tourism Research Account took effect on 30 June 2004, marking the end of this specific financial account as stipulated in the Determination.

Scope and Application

The Financial Management and Accountability (Determination 2004/12 — Bureau of Tourism Research Account) Abolition 2004 applies specifically to the abolition of the Bureau of Tourism Research Account, as determined under the Financial Management and Accountability Act 1997. The scope of this legislation is confined to the financial and administrative restructuring within the Commonwealth of Australia, directly affecting the Bureau of Tourism Research Account. The abolition of this account signifies the termination of its existence and operations within the financial framework of the Commonwealth, effective from 30 June 2004. This act is a precise legislative instrument aimed at dissolving a specific account within the Australian public sector, thereby impacting any associated financial transactions and accountability measures previously governed by the Bureau of Tourism Research Account. There are no stated exclusions, exemptions, or thresholds in this determination, and it does not extend or restrict its application through subordinate instruments beyond its immediate effect on the specified account.

Key Provisions

The main operative sections of the Financial Management and Accountability (Determination 2004/12 — Bureau of Tourism Research Account) Abolition 2004 (hereafter referred to as the Determination) are sections 1, 2, and 3. Section 1 identifies the name of the Determination, providing clarity on the specific legislative instrument being referenced. Section 2 states that the Bureau of Tourism Research Account is abolished, thereby removing the account as a distinct financial entity. Section 3 outlines that this Determination commences on 30 June 2004, establishing the effective date of the abolition. The Determination imposes certain obligations on the relevant parties, primarily those associated with the Bureau of Tourism Research Account. Upon the commencement of this Determination, all entities connected to the Bureau of Tourism Research Account must cease any financial activities or transactions associated with this account. This includes the cessation of any reporting, auditing, or financial oversight activities related to the Bureau of Tourism Research Account. The abolition of the account necessitates a complete transition to other financial management frameworks or accounts as appropriate. Breaching the provisions of this Determination could result in civil or criminal consequences, although specific offences, penalties, or consequences are not detailed in the text provided. The Financial Management and Accountability Act 1997 under which this Determination is made may outline potential penalties for non-compliance. Generally, failure to adhere to the provisions of a legislative instrument can result in legal action, fines, or other enforcement measures as stipulated by the governing Act. However, the exact penalties would need to be examined within the context of the broader Act.