STATUTORY RULES.
1927. No. 125.
REGULATIONS UNDER THE TREATY OF PEACE (HUNGARY) ACT 1921.
I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulation under the Treaty of Peace (Hungary) Act 1921, to come into operation forthwith.
Dated the 26th day of October, 1927.
Governor-General.
By His Excellency’s Command,
for Treasurer.
Amendment of Treaty of Peace (Hungary) Regulations.
(Statutory Rules 1924, No. 29, as amended to this date.)
Regulation 21 of the Treaty of Peace (Hungary) Regulations is amended by adding at the end thereof the following sub-regulations:—
“(2) The Auditor-General, or any person thereto authorized in writing by the Auditor-General, may, in any case where he deems it necessary so to do, in connexion with the audit of the accounts of the Controller and Public Trustee, call upon any person, firm, or company to produce for inspection any books or documents held by that person, firm, or company which relate to any property, rights or interests in which the Public Trustee is interested, and to furnish any explanations required by the Auditor-General or person so authorized, in connexion with any such property, rights or interests.
“(3) Any such person, firm or company, who or which, on being required, in pursuance of this regulation, to produce any such books or documents, or to furnish any such explanations, refuses or fails to do so, shall be guilty of an offence against these Regulations.”
By Authority: H. J. Green, Government Printer, Canberra.
638.—Price 3d.
Overview
The Regulations under the Treaty of Peace (Hungary) Act 1921, enacted by the Governor-General in 1927, aim to provide the Auditor-General with enhanced powers to audit the accounts of the Controller and Public Trustee in relation to Hungarian property and interests within Australia. This legislative instrument was introduced to address potential discrepancies and ensure transparency in the administration of Hungarian assets and rights as part of the peace settlement following the First World War. The regulations amend the existing Treaty of Peace (Hungary) Regulations by granting the Auditor-General authority to request the inspection of relevant books and documents from individuals, firms, or companies, thereby facilitating thorough audits and enforcement of compliance. The policy objective is to uphold the integrity and proper management of these assets on behalf of the Hungarian government and its citizens.
Scope and Application
The Regulations under the Treaty of Peace (Hungary) Act 1921, as amended by Statutory Rules 1927, No. 125, apply to the audit of the accounts of the Controller and Public Trustee. Specifically, they empower the Auditor-General or an authorized person to request any individual, firm, or company to present books, documents, or explanations pertaining to property, rights, or interests involving the Public Trustee. These Regulations extend to the Commonwealth of Australia and are applicable in cases where the Auditor-General deems it necessary for the audit process. The Regulations introduce an offence for non-compliance, wherein any refusal or failure to produce the requested documents or explanations constitutes a breach of these Regulations. The Regulations are part of a broader legislative framework that may be further extended or restricted by subordinate instruments.
Key Provisions
The Regulations under the Treaty of Peace (Hungary) Act 1921, specifically as amended by Statutory Rules 1927, No. 125, introduce new provisions aimed at ensuring transparency and accountability in the management of assets related to the Public Trustee. Regulation 21, as amended, now includes sub-regulations (2) and (3) that empower the Auditor-General or an authorised person to request the inspection of books and documents from any individual, firm, or company that holds information relevant to the Public Trustee's interests. This mandate is intended to facilitate the audit process by ensuring all pertinent financial and property-related records are accessible (Regulation 21(2)). Non-compliance with this request can result in serious consequences, as refusal or failure to produce the required documentation or explanations is explicitly defined as an offence under the Regulations (Regulation 21(3)).
Entities governed by these Regulations must comply with the requirement to produce books and documents upon request. This obligation extends to any individual, firm, or company that holds records related to properties, rights, or interests in which the Public Trustee is involved. The obligation is clear and unambiguous: any refusal or failure to comply with an inspection request can result in the entity being found in breach of the Regulations (Regulation 21(3)). This places a significant responsibility on these entities to ensure they have adequate records and are prepared to provide them as required, thereby promoting accountability and transparency in the management of the Public Trustee's assets.
Breaches of these Regulations can have significant legal implications. According to Regulation 21(3), any person, firm, or company that fails to comply with the requirement to produce books, documents, or explanations can be found guilty of an offence. While the exact nature of the penalties is not specified in the text, it is clear that non-compliance is taken seriously. Such offences can result in civil or criminal consequences, with the potential for penalties to be imposed. Although the exact penalties are not detailed in the provided text, it is evident that the law aims to enforce compliance rigorously to protect the interests of the Public Trustee.