Treasury Regulations (Amendment)

Overview

The Statutory Rules 1924 No. 90, titled "Treasury Regulations under the Audit Act 1901–1920," was enacted in 1924 by the Governor-General in Council, reflecting the legislative authority of the Commonwealth of Australia. This amendment was introduced to address a gap in the Treasury Regulations by expanding the scope of auditable entities to include "any Commonwealth Store," thus ensuring that orders placed with these stores are subject to the same scrutiny and accountability as other government expenditures. The policy objective behind this legislative action was to enhance the oversight and management of public funds by broadening the scope of entities under audit. This amendment aimed to improve financial governance and ensure transparency in government operations by including more entities within the purview of the Audit Act 1901–1920.

Scope and Application

The Treasury Regulations under the Audit Act 1901–1920 pertain to the financial auditing and management practices within the Commonwealth of Australia. These regulations apply to all Commonwealth entities, including government departments, agencies, and statutory bodies, and they govern the financial transactions, accounting practices, and audit processes of these entities. The regulations are intended to ensure transparency, accountability, and integrity in the management of public funds. They cover a broad spectrum of financial conduct, including the issuance and management of government orders, payments, and the handling of Commonwealth stores, as evidenced by the amendment to Regulation 65. The geographic reach of these regulations is limited to the Commonwealth jurisdiction, meaning they apply across the entire country, including federal territories. There are no stated exclusions, exemptions, or thresholds within the scope of these regulations; however, they are subject to modification and further specification through subordinate instruments, which can provide additional clarity or adjustments to the application of these regulations.

Key Provisions

The main operative sections of this legislative instrument, specifically Regulation 65, are amended to include "any Commonwealth Store" as an entity that can receive orders on, following the words "orders on" and preceding the words "the Government Printer" (Regulation 65). This amendment allows for more flexibility in the disbursement of funds and orders, enabling orders to be placed with Commonwealth Stores, in addition to the previously allowed entities. These regulations impose certain obligations and requirements on the parties or entities they govern. They ensure that any orders placed with Commonwealth Stores must comply with the same standards and procedures as those placed with other authorised entities, such as the Government Printer. This consistency is essential for maintaining the integrity and accountability of government spending and procurement processes. There are no explicit offences or penalties outlined in the text of this legislative instrument. However, it is implicit that any breach of the regulations could lead to administrative or financial repercussions, as breaches of such regulations could result in improper disbursement of funds or non-compliance with procurement laws. The penalties for such breaches would typically be determined by the overarching Audit Act 1901–1920 and related legislation, which could include fines or other administrative sanctions. In summary, the amendment to Regulation 65 broadens the scope of entities to which orders can be directed, ensuring that the disbursement of government funds remains flexible and efficient. While the specific consequences of non-compliance are not detailed in this document, adherence to the regulations is crucial to uphold the integrity of financial management within the government sector.