Part 2‑ SPECIAL APPLICATION OF ACT

PART 2 ‑ SPECIAL APPLICATION OF ACT

Definitions

7. In this Part, unless the contrary intention appears:

"Financial Management and Accountability Act" means the Act to be cited as:

(a) the Financial Management and Accountability Act 1995; or

(b) the Financial Management and Accountability Act 1996;

"item" means an item, subdivision or Division in Schedule 2;

"operative day" means the day on which the Financial Management and Accountability Act commences.

Application of Part

8. This Part applies if the Financial Management and Accountability Act commences before 30 June 1996.

Act to have effect subject to modifications

9. (1) This Act has effect on and after the operative day subject to the modifications set out in the following subsections.

(2) After section 2 the following section is inserted:

Interpretation

"2A. In this Part:

'Financial Management and Accountability Act' means:

(a) the Financial Management and Accountability Act 1995; or

(b) the Financial Management and Accountability Act 1996; whichever is in force.".

(3) After section 5 the following sections are inserted:

Certain amounts taken to be appropriated

"5A. If an item, subdivision or Division in Schedule 2 specifies that payments (whether the word "payments" or "money" or any other word is used) of a certain description may be credited to the item, subdivision or Division:

(a) amounts equal to payments (whether real or notional) of that description credited to the Consolidated Revenue Fund during the financial year ending on 30 June 1996 are taken to have been appropriated for the purpose or services referred to in that item, subdivision or Division; and

(b) the Minister is authorised to issue and apply those amounts accordingly.

Debiting of expenditure charged to Minister's advance

"5B. Any expenditure in excess of a specific appropriation or not specifically provided for by appropriation may be charged to an item, subdivision or Division in Schedule 2 as the Minister directs but the total expenditure so charged in the year ending 30 June 1996, after deduction of amounts of repayments, must not at any time exceed the amount appropriated for that year under the head 'Advance to the Minister for Finance'.".

(4) Section 6 is omitted and the following section is substituted;

Consolidated Revenue Fund not to be debited after close of financial year