War Financial Regulations (Amendment)

Overview

The Statutory Rules 1922 No. 157, titled "Regulations Under the Defence Act 1903-1918," was enacted by the Governor-General in Council, providing amendments to the War Financial Regulations. This legislative instrument was introduced to make adjustments to the existing financial regulations governing war-related activities, as specified under the Defence Act 1903-1918. The primary objective of these regulations is to ensure that financial controls and oversight mechanisms are properly aligned with the current operational timelines, thus maintaining fiscal integrity and accountability in the management of defence-related expenditures. The regulation specifically modifies the date referenced in Regulation 72f, extending the period from 30 November 1920 to 11 October 1922, thereby reflecting the changing requirements of the defence sector in the post-World War I context.

Scope and Application

The Statutory Rules 1922, No. 157, made under the Defence Act 1903-1918, set forth specific War Financial Regulations amendments that modify the date within the existing regulatory framework. These regulations apply to the Commonwealth of Australia and are intended to ensure financial management aligns with the current needs of the Defence sector. The Regulations are designed to affect entities and individuals involved in financial transactions and operations concerning defence activities. They provide a framework for financial controls and procedures within the defence sector, ensuring resources are effectively managed to support national defence. The amendment pertains to Regulation 72f, where the date is updated from 30th November, 1920 to 11th October, 1922, reflecting the evolving requirements and timelines of financial administration in the defence context. The scope of these regulations is primarily confined to the financial aspects of defence operations, and they do not explicitly mention any exclusions, exemptions, or thresholds within the provided text. The regulations extend their application through subordinate instruments as necessary to enforce compliance within the defence financial management framework.

Key Provisions

The main operative sections of the Statutory Rules.1922. No. 157, which amends the War Financial Regulations under the Defence Act 1903-1918, involve the alteration of a specific date in Regulation 72f. Specifically, Regulation 72f is amended by changing the date from "30th November, 1920," to "11th October, 1922" (Regulation 72f). This amendment likely affects the timing or scope of financial obligations or entitlements related to defence matters. The obligations and requirements imposed by this legislation are primarily administrative in nature, focusing on the accurate and timely updating of financial regulations to reflect current conditions or events. The alteration of the date in Regulation 72f suggests that there is an administrative need to ensure that financial commitments or deadlines align with contemporary circumstances. This may involve adjustments to budget allocations, payment schedules, or other financial processes that are critical for the effective functioning of defence operations. Under this legislation, there are no explicit provisions detailing offences, penalties, or consequences for breaches. However, the precision and formality of statutory regulation imply that any failure to comply with the amended financial regulations could have significant administrative or financial repercussions. While the specific legal consequences are not outlined in the statutory rules, non-compliance could potentially lead to financial mismanagement, legal disputes, or operational inefficiencies within defence-related financial processes. The absence of explicit penalties in this particular regulation does not diminish the importance of adherence to the amended financial provisions.