Treasury Regulations (Amendment)

Overview

This statutory rule, issued in 1915, is an amendment to the Treasury Regulations under the Audit Act 1901-1912, reflecting an adjustment to the payment protocols for pensions. The Governor-General, acting on the advice of the Federal Executive Council, issued this legislative instrument to refine the financial procedures concerning pensions, specifically to ensure that moneys payable through the Money Order account for Invalid and Old-age Pensions are accurately identified and processed. This amendment was intended to enhance the clarity and efficiency of pension payments, thereby addressing administrative discrepancies and ensuring compliance with the overarching audit framework established by the Audit Act.

Scope and Application

The Statutory Rules 1915, No. 21, amending Treasury Regulations under the Audit Act 1901-1912, pertain specifically to the financial administration and auditing of funds within the Commonwealth of Australia. This legislative instrument modifies existing regulations to extend the scope of moneys payable through the Money Order account, now including those intended for Invalid and Old-age Pensions, as well as other specified payments. The regulation's application extends to all entities and persons involved in the handling and auditing of these funds, ensuring compliance with the Audit Act's overarching objectives. The amendment does not explicitly exclude any particular entity or class of transactions from its purview, thus applying broadly across relevant Commonwealth activities and operations. This amendment serves to refine the financial oversight mechanisms within the established legal framework, ensuring that the administration of pensions and other specified payments is subject to rigorous audit processes as mandated by the Audit Act.

Key Provisions

The legislative instrument C1915L00021, dated 18th February 1915, amends the Treasury Regulations under the Audit Act 1901-1912. Specifically, it modifies Treasury Regulation No. 107a by inserting additional wording. The amendment changes the scope of moneys payable through the Money Order account to include those payable in respect of Invalid and Old-age Pensions (section 1(1)). This change broadens the application to include a specific subset of pension payments, ensuring that these funds are accounted for through the designated money order account. The Act imposes several obligations on the parties involved. Firstly, it mandates that moneys payable through the Money Order account now include those specifically designated for Invalid and Old-age Pensions (section 1(1)). This requires careful administration and accounting to ensure that these funds are correctly identified and processed. Additionally, the Act necessitates adherence to the Treasury Regulations as amended, ensuring that all relevant financial transactions are conducted in compliance with the updated guidelines. Failure to comply with the provisions of the Act may result in legal consequences. Although the instrument does not explicitly detail offences, penalties, or civil/criminal consequences, it is implicit that non-compliance with statutory regulations can lead to legal repercussions under the Audit Act 1901-1912. The penalties for such breaches could potentially include fines, administrative actions, or other legal consequences as prescribed by relevant laws. Given the nature of the amendment, any non-compliance could potentially affect the proper disbursement of pensions, leading to further scrutiny and possible punitive measures.