Financial Management and Accountability Amendment Regulations 1999 (No. 3)

I, WILLIAM PATRICK DEANE, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations under the Financial Management and Accountability Act 1997.

Dated 9 June 1999.

WILLIAM DEANE
Governor-General

By His Excellency’s Command,

JOHN FAHEY

Minister for Finance and Administration

Financial Management and Accountability Amendment Regulations 1999 (No. 3)¹

Statutory Rules 1999 No. 107²

made under the

Contents

                                                                                                                 Page

                        1  Name of regulations                                                          1

                        2  Commencement                                                                1

                        3  Amendment of Financial Management and Accountability Regulations 1997      1

Schedule 1       Amendments commencing on gazettal               1

Schedule 2       Amendments commencing on 1 July 1999         1

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1              Name of regulations

                These regulations are the Financial Management and Accountability Amendment Regulations 1999 (No. 3).

2              Commencement

                These regulations commence as follows:

                 (a)     on gazettal — regulations 1 to 3 and Schedule 1;

                (b)     on 1 July 1999 — Schedule 2.

3              Amendment of Financial Management and Accountability Regulations 1997

                Schedules 1 and 2 amend the Financial Management and Accountability Regulations 1997.

Schedule 1        Amendments commencing on gazettal

                                    (regulation 3)

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[1]         Schedule 1, Part 1, item 129

omit the first mention of

National Capital Planning Authority

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National Capital Authority

[2]         Schedule 1, Part 1, item 129, paragraph (a)

omit

National Capital Planning

Schedule 2        Amendments commencing on 1 July 1999

(regulation 3)

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[1]         Regulation 3, heading

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3              Definitions

[2]         Regulation 3, definition of official advance

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Treasury Chief Executive means the Secretary to the Department of the Treasury.

[3]         Part 5

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[4]         Regulation 22

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22            Investment of public money

                For subparagraphs (a) (iv) and (b) (v) of the definition of authorised investment in subsection 39 (10) of the Act, the other forms of investment are:

                (a)    a bill of exchange accepted or endorsed only by a bank; and

               (b)    a professionally managed money market trust if the Minister or the Treasurer is satisfied that:

                          (i)    the only investments managed by the trust are mentioned in subparagraph (a) (i) or (ii), or (b) (i) or (ii), of the definition of authorised investment in subsection 39 (10) of the Act, or in paragraph (a); and

                         (ii)    a charge over trust assets does not support any borrowings by the trust.

[5]         Subregulation 24 (1)

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         (1)   The Finance Minister may delegate to an official, by signed instrument, any of the Finance Minister’s powers or functions under these regulations.

[6]         After regulation 24

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24A         Treasurer may delegate powers

         (1)   The Treasurer may delegate to an official, by signed instrument, any of the Treasurer’s powers or functions under these regulations.

         (2)   In exercising powers and functions under a delegation, the official must comply with any directions of the Treasurer.

[7]         Subregulation 25 (1)

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         (1)   The Finance Chief Executive may delegate to an official, by signed instrument, any of the Financial Chief Executive’s powers or functions under these regulations.

[8]         After regulation 25

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25A         Treasury Chief Executive may delegate powers

         (1)   The Treasury Chief Executive may delegate to an official, by signed instrument, any of the Treasury Chief Executive’s powers or functions under these regulations.

         (2)   In exercising powers and functions under a delegation, the official must comply with any directions of the Treasury Chief Executive.

[9]         Subregulation 26 (1)

substitute

         (1)   The Chief Executive of an agency may delegate to an official, by signed instrument, any of the Chief Executive’s powers or functions under these regulations (including powers delegated to the Chief Executive by the Finance Minister or the Finance Chief Executive).

[10]      Schedule 1, Part 1, after item 111

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[11]      Schedule 1, Part 1, after item 128A

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[12]      Schedule 1, Part 1, after item 142

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1.       These regulations amend Statutory Rules 1997 No. 328, as amended by 1998 Nos. 65, 112, 122, 261, 289 and 333; 1999 Nos. 44 and 45.

2.       Made by the Governor-General on 9 June 1999, and notified in the Commonwealth of Australia Gazette on 17 June 1999.