Commonwealth legislation

Financial Management and Accountability (Abolition of Special Account) Determination 2001/05

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This Act has been repealed and is no longer in force. It is retained for historical reference.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

2/10 complexity

This determination closes a specific government bank account.

The law formally abolishes a "Special Account" (a dedicated government bank account held by a Commonwealth agency) called the Services for other Governments and Non-agency Bodies Account. This account was operated by the Department of Communications, Information Technology and the Arts to manage money relating to services provided to other governments and external organisations.

Key details:

The account was originally created in December 1997
It is formally shut down effective 30 June 2001 (the end of the financial year)
This is an administrative cleanup to remove unused financial structures

Why this matters: Under the Financial Management and Accountability Act 1997, government agencies need legal authority to maintain separate bank accounts. This determination tidies up the Commonwealth's financial framework by closing an account that had become redundant, ensuring the government's books properly reflect only active financial arrangements.

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Current sections

Direct links to the current provisions in Financial Management and Accountability (Abolition of Special Account) Determination 2001/05.

Financial Management and Accountability (Abolition of Special Account) Determination 2001/05

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Financial Management and Accountability (Abolition of Special Account) Determination 2001/05

I, JOHN JOSEPH FAHEY, Minister for Finance and Administration, make this Determination under subsection 20(3) of the Financial Management and Accountability Act 1997.

Dated 8 July 2001

John Fahey Minister for Finance and Administration

1 Name of Determination

This Determination is the Financial Management and Accountability (Abolition of Special Account) Determination 2001/05.

2 Commencement

This Determination commences on 30 June 2001.

3 Abolition of Special Account

The 'Services for other Governments and Non-agency Bodies Account' (operated by the Department of Communications, Information Technology and the Arts), established on 31 December 1997 by the Initial Determination to Establish Components of the Reserved Money Fund, is abolished.

Source text

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

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Financial Management and Accountability (Abolition of Special Account) Determination 2001/05

I, JOHN JOSEPH FAHEY, Minister for Finance and Administration, make this Determination under subsection 20(3) of the Financial Management and Accountability Act 1997.

Dated 8 July 2001

John Fahey Minister for Finance and Administration

1 Name of Determination

This Determination is the Financial Management and Accountability (Abolition of Special Account) Determination 2001/05.

2 Commencement

This Determination commences on 30 June 2001.