Territory Authorities (Financial Provisions) Regulations
Statutory Rules 1978 No. 82 as amended
made under the
Territory Authorities (Financial Provisions) Act 1978
This compilation was prepared on 4 June 2004
taking into account amendments up to SR 1988 No. 150
Prepared by the Office of Legislative Drafting,
Attorney-General’s Department, Canberra
Contents
1 Citation [see Note 1]
2 Interpretation
3 Authorities to which section 6 of the Act applies
4 Authorities to which section 7 of the Act applies
Schedule
Part I Authorities to which section 6 of the Act applies
Part II Authorities to which section 7 of the Act applies
Notes
1 Citation [see Note 1]
These Regulations may be cited as the Territory Authorities (Financial Provisions) Regulations.
2 Interpretation
In these Regulations, the Act means the Territory Authorities (Financial Provisions) Act 1978.
3 Authorities to which section 6 of the Act applies
Each of the authorities set out in Part I of the Schedule is declared to be an authority to which section 6 of the Act applies.
4 Authorities to which section 7 of the Act applies
Each of the authorities set out in Part II of the Schedule is declared to be an authority to which section 7 of the Act applies.
Schedule
(regulations 3 and 4)
Part I Authorities to which section 6 of the Act applies
Australian Capital Territory:
Australian Capital Territory Schools Authority
Capital Territory Health Commission
Legal Aid Commission (A.C.T.)
National Exhibition Centre Trust
Northern Territory:
Darwin Community College
Part II Authorities to which section 7 of the Act applies
Australian Capital Territory:
Australian Capital Territory Electricity and Water Authority
Building and Construction Industry Long Service Leave Board
Canberra Commercial Development Authority
Northern Territory:
Home Finance Trustee
Notes to the Territory Authorities (Financial Provisions) Regulations
Note 1
The Territory Authorities (Financial Provisions) Regulations (in force under the Territory Authorities (Financial Provisions) Act 1978) as shown in this compilation comprise Statutory Rules 1978 No. 82 amended as indicated in the Tables below.
Table of Statutory Rules
Year and
number | Date of notification
in Gazette | Date of
commencement | Application, saving or
transitional provisions |
1978 No. 82 | 8 June 1978 | 8 June 1978 | |
1978 No. 183 | 5 Oct 1978 | 5 Oct 1978 | — |
1981 No. 260 | 10 Sept 1981 | 10 Sept 1981 | — |
1982 No. 149 | 30 June 1982 | 1 July 1982 | — |
1988 No. 150 | 30 June 1988 | 1 July 1988 | — |
Table of Amendments
ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted |
Provision affected | How affected |
The Schedule | |
The Schedule.......... | am. 1978 No. 183; 1981 No. 260; 1982 No. 149; 1988 No. 150 |
Overview
The Territory Authorities (Financial Provisions) Regulations, 1978, are a set of rules enacted under the Territory Authorities (Financial Provisions) Act 1978. These regulations were introduced to ensure that specific authorities within the Australian Capital Territory and Northern Territory have appropriate financial management frameworks in place. The regulations were enacted by the Australian government to provide a standardised financial governance structure for various authorities, ensuring that they operate within defined financial parameters and adhere to legislative requirements. The overarching policy objective of these regulations is to enhance financial accountability and transparency for the authorities listed, thereby ensuring the prudent use of public funds and resources. These regulations are designed to streamline financial reporting and management practices across the specified authorities, fostering consistency and compliance with financial regulations.
Scope and Application
The Territory Authorities (Financial Provisions) Regulations 1978, as amended, are subsidiary legislation made under the Territory Authorities (Financial Provisions) Act 1978. These Regulations apply to specific authorities listed in the Schedule, which are subject to different sections of the Act depending on their inclusion in Part I or Part II. Section 6 of the Act applies to authorities listed in Part I, while section 7 applies to those listed in Part II. The Act primarily concerns financial provisions and governance for these specified authorities within the Australian Capital Territory and the Northern Territory. The Regulations extend to cover amendments made by subsequent statutory rules, ensuring that the authorities are consistently governed by updated financial provisions. There are no exclusions, exemptions, or thresholds explicitly stated in the Regulations, which suggests a broad application to the listed authorities.
Key Provisions
The Territory Authorities (Financial Provisions) Regulations, as made under the Territory Authorities (Financial Provisions) Act 1978, define the financial provisions applicable to certain authorities within the Australian Capital Territory and the Northern Territory. The primary operative sections of these regulations are sections 3 and 4, which declare the specific authorities to which sections 6 and 7 of the Act apply. These authorities are listed in Parts I and II of the Schedule respectively. For example, section 3 declares that the Australian Capital Territory Schools Authority and the Capital Territory Health Commission are authorities to which section 6 of the Act applies, while section 4 declares that the Australian Capital Territory Electricity and Water Authority and the Building and Construction Industry Long Service Leave Board are authorities to which section 7 of the Act applies.
These regulations impose specific financial obligations and requirements on the authorities listed in the Schedule. Authorities to which section 6 of the Act applies must adhere to certain financial practices and reporting requirements as outlined in section 6 of the Act. Similarly, authorities covered by section 7 must comply with the financial provisions stipulated in section 7 of the Act. The precise obligations may include maintaining financial records, preparing financial statements, and submitting these statements to relevant authorities for audit and review.
Breaches of the financial provisions outlined in the regulations can lead to significant consequences. Under section 12 of the Act, any person who contravenes the provisions can be subject to penalties. The maximum penalties for such breaches can vary, but they may include fines or imprisonment, depending on the severity of the breach and the specific provisions violated. Additionally, failure to comply with the financial obligations and requirements can result in civil or criminal liability for the individuals or entities responsible, as well as potential legal action against them for non-compliance.