2008‑2009‑2010

The Parliament of the

Commonwealth of Australia

THE SENATE

Presented and read a first time

Financial Management and Accountability Amendment (Value for Money in Government Spending) Bill 2010

No.      , 2010

(Senator Barnett)

A Bill for an Act to amend the Financial Management and Accountability Act 1997 to ensure value for money in the use of Commonwealth resources, and for related purposes

Contents

1............ Short title............................................................................................ 1

2............ Commencement.................................................................................. 1

3............ Schedule(s).......................................................................................... 2

Schedule 1—Amendment of the Financial Management and Accountability Act 1997      3

A Bill for an Act to amend the Financial Management and Accountability Act 1997 to ensure value for money in the use of Commonwealth resources, and for related purposes

The Parliament of Australia enacts:

1  Short title

                   This Act may be cited as the Financial Management and Accountability Amendment (Value for Money in Government Spending) Act 2010.

2  Commencement

                   This Act commences on the day after it receives the Royal Assent.

3  Schedule(s)

                   Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Amendment of the Financial Management and Accountability Act 1997

1  Subsection 44(3) (definition of proper use)

After “effective”, insert “, value‑for‑money”.

Note: The heading to section 44 is altered by inserting “, value‑for‑money” after “effective”.