Treasury Regulations (Amendment)

Overview

The Statutory Rules of 1922, No. 33, amending the Treasury Regulations under the Audit Act 1901-1920, were enacted by the Governor-General in Council to address the need for tighter financial controls over the Public Trustee and the Controller. This regulation was introduced to ensure that all moneys received by these offices are deposited into designated bank accounts as directed by the Treasurer, with all payments made through these accounts. This legislative instrument aimed to enhance the oversight and management of funds held by these entities, ensuring compliance with the overarching Audit Act 1901-1920. By requiring the signature and countersignature of authorised officers on cheques drawn from these accounts, the regulation sought to maintain accountability and transparency in financial transactions involving the Public Trustee and the Controller.

Scope and Application

The Treasury Regulations under the Audit Act 1901-1920, as amended by Statutory Rules 1922 No. 33, pertain to the financial transactions of the Public Trustee and the Controller, both of whom are appointed under specific wartime legislation. These Regulations apply to the Public Trustee appointed under the Trading with the Enemy Act 1914-1921 and the Controller of the Clearing Office under the Treaty of Peace Regulations. They mandate that all moneys received by these offices must be deposited into designated bank accounts as directed by the Treasurer, and all payments must be made from these accounts. The regulation further stipulates that cheques drawn from these accounts must be signed and countersigned by officers specifically appointed for this purpose by the Public Trustee or the Controller, who are also required to inform the bank accordingly. These Regulations have a direct impact on the conduct and financial management of the Public Trustee and the Controller, ensuring that their financial activities are conducted through approved bank accounts and under the oversight of designated officers.

Key Provisions

The primary operative section of this legislative instrument is the amendment to the Treasury Regulations 1919, which introduces a new clause 135a (Clause 135a). This clause mandates that all moneys received by the Public Trustee or the Controller must be deposited into bank accounts as directed by the Treasurer. It further requires that all payments made by these entities must be executed through these bank accounts. Additionally, cheques drawn on these bank accounts must be signed and countersigned by officers specifically appointed for this purpose by the Public Trustee or the Controller, who are also required to inform the bank of these appointed officers. The obligations imposed by Clause 135a are primarily on the Public Trustee and the Controller. These entities must ensure that all incoming funds are deposited into the specified bank accounts and that all outgoing payments are made through these accounts. They are also required to designate officers who are authorised to sign and countersign cheques drawn on these accounts, and to notify the bank of these authorised officers. This ensures a clear chain of accountability and control over the financial transactions handled by the Public Trustee and the Controller. Under the Treasury Regulations, breaches of the provisions outlined in Clause 135a can lead to civil or criminal consequences. Although the specific penalties are not detailed in the provided text, it is reasonable to infer that any failure to comply with the mandated procedures for handling funds could result in legal action. This might include penalties for misappropriating funds, failure to maintain proper records, or not adhering to the designated procedures for cheque signing and authorisation. The potential penalties could range from fines to more severe legal actions depending on the severity and intent behind the breach.