[Index] [Search] [Download] [Related Items] [Help]
FINANCIAL MANAGEMENT AND ACCOUNTABILITY AMENDMENT REGULATIONS 2005 (NO. 1) (SLI NO 6 OF 2005)
EXPLANATORY STATEMENT
Issued by the authority of the Minister for Finance and Administration
Select Legislative Instrument 2005 No. 6
Financial Management and Accountability Act 1997
Financial Management and Accountability Amendment Regulations 2005 (No. 1)
Subsection 65(1) of the Financial Management and Accountability Act 1997 (the Act) provides that the Governor-General may make regulations prescribing matters required or permitted by the Act to be prescribed, or necessary or convenient to be prescribed for carrying out or giving effect to the Act.
The Act provides a framework of rules for the proper management of public money and public property that applies to Chief Executives and officials of Agencies.
The Financial Management and Accountability Amendment Regulations 2005 (No. 1)
prescribe the National Water Commission for the purposes of the Act.
The National Water Commission is a new statutory authority, established by section 6 of the National Water Commission Act 2004, which commenced on
Further details of the amendment Regulations are in the Attachment.
The amendment Regulations are a legislative instrument for the purposes of the Legislative Instruments Act 2003.
The amendment Regulations commence on the day after they are registered on the Federal Register of Legislative Instruments.
ATTACHMENT
Details of the Financial Management and Accountability Amendment Regulations 2005 (No. 1)
Regulation 1 – Name of Regulations
This regulation provides that the title of the Regulations is the Financial Management and Accountability Amendment Regulations 2005 (No. 1).
This regulation provides for the Regulations to commence on the date after they are registered on the Federal Register of Legislative Instruments.
Regulation 3 – Amendment of Financial Management and Accountability Regulations 1997
This regulation provides that the Financial Management and Accountability Regulations 1997 are amended as set out in Schedule 1.
Item 133A is inserted to prescribe the National Water Commission, as established by section 6 of the National Water Commission Act 2004. The National Water Commission comprises the Chief Executive Officer and the Commissioners of the National Water Commission, the staff mentioned in subsection 35 (1) of that Act, the officers and employees mentioned in subsections 36 (1) and (2) of that Act and consultants engaged under subsection 37 (1) of that Act.