Financial Management and Accountability (Determination 2004/14 — Ministerial Publications Account) Abolition 2004

Overview

The Financial Management and Accountability (Determination 2004/14 — Ministerial Publications Account) Abolition 2004I was enacted in 2004 by Nick Minchin, the Minister for Finance and Administration, under subsection 20(3) of the Financial Management and Accountability Act 1997. This legislative instrument was introduced to address the need for financial management reforms by abolishing the Ministerial Publications Account, thereby streamlining the financial accountability processes within the government. The objective was to enhance the clarity and efficiency of financial reporting and management, reflecting a policy shift towards more rigorous and transparent financial oversight. The determination took effect immediately upon its issuance on 9 July 2004.

Scope and Application

The Financial Management and Accountability (Determination 2004/14 — Ministerial Publications Account) Abolition 2004 applies to the abolition of the Ministerial Publications Account, which was a specific account under the Financial Management and Accountability Act 1997. This legislation targets the account itself, and its effect is to nullify its continued existence. The Abolition applies to the Commonwealth of Australia, aligning with the jurisdictional reach of the parent act. There are no exclusions, exemptions, or thresholds specified within this particular Determination, which means it directly affects the Ministerial Publications Account as stated. While the primary act might extend its application through subordinate instruments, this specific Determination focuses solely on the abolition of the Ministerial Publications Account without further stipulation on extensions or restrictions.

Key Provisions

The main operative sections of the Financial Management and Accountability (Determination 2004/14 — Ministerial Publications Account) Abolition 2004 (the "Determination") are sections 1 and 2. Section 1 names the Determination, while section 2 formally abolishes the Ministerial Publications Account, as specified in the title of the Determination. The Determination, made under subsection 20(3) of the Financial Management and Accountability Act 1997, takes effect from the day it is made, which is 9 July 2004. The Determination imposes specific obligations on entities and parties governed by the Financial Management and Accountability Act 1997. By abolishing the Ministerial Publications Account, the Determination removes any existing requirements or permissions previously associated with this account. This means that any funds previously held in the Ministerial Publications Account, as well as any related administrative duties, must now be dealt with in accordance with other provisions of the Act or other applicable legislation. It is also important to note that any ongoing obligations or liabilities associated with the Ministerial Publications Account are now terminated by this Determination. In terms of offences, penalties, or consequences for breach, the Determination itself does not specify any particular criminal or civil penalties for non-compliance. However, failing to comply with the abolition of the Ministerial Publications Account could potentially lead to broader consequences under the Financial Management and Accountability Act 1997 or other related legislation. Any breaches of the Act, including mismanagement of funds or failure to properly account for financial transactions, could result in criminal charges, civil penalties, or administrative sanctions, depending on the severity and nature of the breach. The maximum penalties for such breaches would be determined by the relevant provisions of the Financial Management and Accountability Act 1997 or other applicable laws.