Supply (Special Expenditure) Act 1964-65

Overview

The Supply (Special Expenditure) Act 1964-65 was enacted to provide interim provisions for the appropriation of funds from the Consolidated Revenue Fund for the fiscal year ending on 30th June 1965, specifically for expenditures outside of the ordinary annual services of the government. This Act was assented to on 26th May 1964 by the Queen, represented by the Parliament of the Commonwealth of Australia, to ensure that the Treasurer could access necessary funds to meet unforeseen or extraordinary expenses during the fiscal period. The policy objective of this Act was to offer financial flexibility to the government by allowing the Treasurer to disburse a specific amount from the Consolidated Revenue Fund for purposes not covered by the routine government services. The Act authorises the Treasurer to issue an advance of £1,000,000 from the Consolidated Revenue Fund, ensuring that the fund is appropriated to the extent necessary to facilitate these special expenditures. This measure was essential to address any urgent or exceptional financial requirements that might arise during the specified financial year.

Scope and Application

The Supply (Special Expenditure) Act 1964-65 applies to the Commonwealth of Australia, providing a legal framework for the appropriation of moneys from the Consolidated Revenue Fund for specific expenditures during the financial year ending on 30 June 1965. This Act applies to the Treasurer, who is empowered to issue an advance to meet expenditure not related to the ordinary annual services of the Government. The Act's jurisdictional reach is limited to the Commonwealth, and it does not specify any particular industries or entities. The Act comes into operation on the day it receives Royal Assent, with the authority to allocate funds as an advance, specifically £1,000,000, to cover special expenditures for the mentioned financial year. The Act does not explicitly state any exclusions, exemptions, or thresholds beyond the outlined purpose of the appropriation. Any further application or interpretation of the Act may be extended through subordinate instruments, which are not detailed within the primary text of this Act.

Key Provisions

The Supply (Special Expenditure) Act 1964-65 primarily provides for the appropriation of funds for specific expenditures in the financial year ending on 30 June 1965, excluding those for ordinary annual services of the government. Section 3(1) authorises the Treasurer to issue an advance of £1,000,000 from the Consolidated Revenue Fund to meet special expenditure. This advance is earmarked to cover costs that fall outside the routine operations of the government, providing flexibility for unforeseen or extraordinary expenses. Section 3(2) further stipulates that the Consolidated Revenue Fund is appropriated to the extent necessary to facilitate this advance. The Act imposes specific obligations on the Treasurer, who is tasked with the responsibility of issuing the specified advance. The Treasurer must ensure that the funds are used solely for the purposes outlined in the Act, which are to cover expenditures that do not pertain to the government's ordinary annual services. This includes maintaining records and justifications for how the advance is utilised, ensuring transparency and accountability in the use of public funds. Additionally, the Act mandates that the Treasurer must report to the relevant parliamentary committees on the expenditure of these funds, thereby upholding the democratic principle of oversight. Breaches of the Act’s provisions may lead to legal consequences. While the Act does not explicitly detail offences or penalties, it is implied that misuse of the funds or failure to comply with the reporting obligations could result in legal action. Given the serious nature of financial mismanagement in government, penalties could potentially include fines or other sanctions as deemed appropriate by the relevant authorities. Additionally, non-compliance with the reporting requirements could lead to disciplinary actions against the Treasurer or relevant officials, reinforcing the importance of adherence to the Act’s stipulations.