Financial Management and Accountability (Special Accounts) Determination 2001/06
I, JOHN JOSEPH FAHEY, Minister for Finance and Administration, make this Determination under subsection 20 (1) of the Financial Management and Accountability Act 1997.
Dated 29 August 2001
Signed John Fahey
Minister for Finance and Administration
1 Name of Determination
This Determination is the Financial Management and Accountability (Special Accounts) Determination 2001/06.
2 Commencement
This Determination commences when it is made.
3 Definitions
In this Determination:
Act means the Financial Management and Accountability Act 1997.
purpose of the Account means the purpose of the Account set out in section 6.
Note For the meaning of Special Account, see section 5 of the Act.
4 Establishment of Special Account
For paragraph 20 (1) (a) of the Act, a Special Account known as the Department of Health and Aged Care (CCRC) Federation Fund Account (the Account) is established.
5 Amounts that may be credited to the Special Account
For paragraph 20 (1) (b) of the Act, the following amounts may be credited to the Account:
(a) an amount appropriated by law for the purposes of the Account;
(b) an amount transferred from the Federation Fund Account administered by the Department of Transport and Regional Services, established by the Determination to Establish Components of the Reserved Money Fund and to Vary an Existing Determination dated 9 November 1998;
(c) an amount received by the Commonwealth in consideration for any service, benefit, activity, transaction or other matter, that is consistent with the purpose of the Account;
(d) an amount paid to the Commonwealth by any person for expenditure in relation to the purpose of the Account.
6 Purpose of the Account
For paragraph 20 (1) (c) of the Act, the purpose of the Account is to provide funding for capital works for the Comprehensive Cancer Research Centre at the Queensland Institute of Medical Research.
Overview
The Financial Management and Accountability (Special Accounts) Determination 2001/06 was introduced to establish a special account for the funding of specific projects. Enacted by John Joseph Fahey, the Minister for Finance and Administration, this legislative instrument aims to facilitate the management and accountability of financial resources allocated to the Department of Health and Aged Care, specifically for the Comprehensive Cancer Research Centre at the Queensland Institute of Medical Research. This Determination was made under the authority of the Financial Management and Accountability Act 1997, ensuring that the funds are appropriately credited and managed for the intended purpose of supporting capital works for cancer research. The policy objective is to provide a clear and accountable framework for the financial administration of this particular project, ensuring that funds are used effectively and transparently.
Scope and Application
The Financial Management and Accountability (Special Accounts) Determination 2001/06, made under the Financial Management and Accountability Act 1997, establishes a Special Account known as the Department of Health and Aged Care (CCRC) Federation Fund Account. This Determination applies to the Commonwealth of Australia and is made by the Minister for Finance and Administration. The Special Account is specifically designated to provide funding for capital works for the Comprehensive Cancer Research Centre at the Queensland Institute of Medical Research. The Account may receive appropriations by law, transfers from other designated accounts, amounts received from services or transactions aligned with its purpose, and payments made to the Commonwealth for its intended expenditure. The Determination outlines the sources from which the Account can be credited and specifies the sole purpose of this funding mechanism, which is the support of capital works for cancer research at the Queensland Institute of Medical Research. The jurisdictional reach of this Determination is limited to the Commonwealth of Australia, and there are no stated exclusions or exemptions within the text provided.
Key Provisions
The Financial Management and Accountability (Special Accounts) Determination 2001/06 establishes a Special Account under the Financial Management and Accountability Act 1997, specifically for the Department of Health and Aged Care (CCRC) Federation Fund Account. This account is intended to manage funds for capital works related to the Comprehensive Cancer Research Centre at the Queensland Institute of Medical Research (sections 4 and 6). The types of funds that can be credited to this account include amounts appropriated by law, transfers from the Federation Fund Account, amounts received for services or transactions consistent with the account's purpose, and payments made to the Commonwealth for account-related expenditures (section 5).
The entities governed by this Determination, primarily the Department of Health and Aged Care and potentially other related entities, must ensure that the funds within the Special Account are used strictly for the specified purpose of capital works for the Comprehensive Cancer Research Centre. This includes maintaining accurate records of all transactions and ensuring compliance with the terms set out in the Determination (section 6). The entities must also ensure that any transfers or payments into the account align with the legislative requirements and the purpose outlined in the Determination.
Failure to comply with the provisions of this Determination could result in legal consequences. While the Determination itself does not explicitly outline specific offences, penalties, or consequences for breaches, it is implied that any misuse of funds or non-compliance with the Act could lead to legal action under the Financial Management and Accountability Act 1997. Penalties for breaches of the Act can include fines and other civil or criminal sanctions, depending on the severity of the breach and the discretion of the court. The exact penalties would be determined based on the specific provisions of the Act and the nature of the breach.