Commonwealth legislation

Commonwealth Authorities and Companies (Financial Statements 2000–2001) Orders

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

3/10 complexity

These Orders set mandatory accounting and financial statement requirements for Commonwealth Authorities (government-owned companies and statutory bodies) for financial years ending 30 June 2001 or any year after that but before 30 June 2002. They adopt the detailed format and standards in Schedule 1 and mirror the rules for Agencies under the Financial Management and Accountability Act 1997 to ensure consistent whole-of-government reporting for consolidation by the Finance Minister.

JSON API Accounting / audit standards

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Current sections

Direct links to the current provisions in Commonwealth Authorities and Companies (Financial Statements 2000–2001) Orders.

Commonwealth Authorities and Companies (Financial Statements 2000–2001) Orders

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Commonwealth Authorities and Companies (Financial Statements 2000–2001) Orders

I, JOHN FAHEY, Minister for Finance and Administration, make these Orders under subsection 48 (1) of the Commonwealth Authorities and Companies Act 1997.

Dated 24 May 2001

John Fahey

Minister for Finance and Administration

1 Name of Orders

These Orders are the Commonwealth Authorities and Companies (Financial Statements 2000–2001) Orders.

Note Other matters relating to Commonwealth Authorities are dealt with in other Orders made by the Minister under subsection 48 (1) of the Commonwealth Authorities and Companies Act 1997.

2 Commencement

These Orders commence on gazettal.

3 Financial statements for financial years ending on or after 30 June 2001 but before 30 June 2002

For subitem 2 (1) of Schedule 1 to the Commonwealth Authorities and Companies Act 1997, Schedule 1 sets out the requirements for the preparation of financial statements for the financial year ending on 30 June 2001, or a financial year ending after that date but before 30 June 2002.

Note Schedule 1 is identical to Schedule 1 to the Financial Management and Accountability (Financial Statements 2000–2001) Orders. The purpose of having identical requirements is to achieve uniformity in financial reporting across the Commonwealth public sector which will assist in the preparation of annual financial statements in relation to the Commonwealth by the Finance Minister under section 55 of the Financial Management and Accountability Act 1997. Accordingly, certain terms, requirements and references contained in Schedule 1 to these Orders apply to Commonwealth Authorities and not to Agencies while other terms, requirements and references apply to Agencies and not to Commonwealth Authorities.

Schedule 1 Annual financial statements

(section 3)

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Commonwealth Authorities and Companies (Financial Statements 2000–2001) Orders

Commonwealth Authorities and Companies (Financial Statements 2000–2001) Orders

I, JOHN FAHEY, Minister for Finance and Administration, make these Orders under subsection 48 (1) of the Commonwealth Authorities and Companies Act 1997.

Dated 24 May 2001

John Fahey

Minister for Finance and Administration

1 Name of Orders

These Orders are the Commonwealth Authorities and Companies (Financial Statements 2000–2001) Orders.

Note Other matters relating to Commonwealth Authorities are dealt with in other Orders made by the Minister under subsection 48 (1) of the Commonwealth Authorities and Companies Act 1997.

2 Commencement

These Orders commence on gazettal.

3 Financial statements for financial years ending on or after 30 June 2001 but before 30 June 2002

Note Schedule 1 is identical to Schedule 1 to the Financial Management and Accountability (Financial Statements 2000–2001) Orders. The purpose of having identical requirements is to achieve uniformity in financial reporting across the Commonwealth public sector which will assist in the preparation of annual financial statements in relation to the Commonwealth by the Finance Minister under section 55 of the Financial Management and Accountability Act 1997. Accordingly, certain terms, requirements and references contained in Schedule 1 to these Orders apply to Commonwealth Authorities and not to Agencies while other terms, requirements and references apply to Agencies and not to Commonwealth Authorities.

Schedule 1 Annual financial statements

(section 3)