Commonwealth legislation

Financial Management and Accountability (Determination 2003/06) Special Accounts - Abolition

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This Act has been repealed and is no longer in force. It is retained for historical reference.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

1/10 complexity

This determination closes down five specific government bank accounts known as "Special Accounts" that were being used by the Department of Foreign Affairs and Trade and the Commonwealth Ombudsman.

What is a Special Account? Think of it as a separate financial pot or dedicated bank account that a government agency uses to hold money for a specific purpose (like a trust fund or grant program). When abolished, the account stops operating and any remaining money must be transferred or dealt with under the main Financial Management and Accountability Act.

Which accounts are being shut?

Australia New Zealand Foundation Account (Foreign Affairs)
Grawemeyer Award Account (Foreign Affairs)
Australia Abroad Council Account (Foreign Affairs)
Other Trust Moneys Account (Commonwealth Ombudsman's Office)
Services for Other Governments and Non-Agency Bodies Account

This is administrative housekeeping to clean up accounts that are no longer needed.

JSON API

Deep dive

Want the full deep dive?

Zoe can write the in-depth analysis on top of the summary above: how it works, who it affects and what each part actually does.

Current sections

Direct links to the current provisions in Financial Management and Accountability (Determination 2003/06) Special Accounts - Abolition.

Financial Management and Accountability (Determination 2003/06) Special Accounts - Abolition

View image in the official source

Financial Management and Accountability (Determination 2003/06) Special Accounts - Abolition

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

Dated 23 December 2003

Nick Minchin

Minister for Finance and Administration

1 Name of Determination

This Determination is the Financial Management and Accountability (Determination 2003/06) Special Accounts - Abolition.

Note This Determination has effect immediately.

2 Abolition of Special Accounts

The Special Accounts specified in Schedule 1 are abolished.

Schedule 1 Special Accounts to be abolished

Agency to which Special Account relates Special Account

View image in the official source

Department of Foreign Affairs and Trade Australia New Zealand Foundation Account

Grawemeyer Award Account

Australia Abroad Council Account

Commonwealth Ombudsman’s Office Other Trust Moneys Account

Services for Other Governments and
Non-Agency Bodies Account

Source text

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

1 Financial Management and Accountability (Determination 2003/06) Special Accounts - Abolition

Financial Management and Accountability (Determination 2003/06) Special Accounts - Abolition

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

Dated 23 December 2003

Nick Minchin

Minister for Finance and Administration

1 Name of Determination

This Determination is the Financial Management and Accountability (Determination 2003/06) Special Accounts - Abolition.

Note This Determination has effect immediately.

2 Abolition of Special Accounts

The Special Accounts specified in Schedule 1 are abolished.

Schedule 1 Special Accounts to be abolished

Agency to which Special Account relates Special Account

Department of Foreign Affairs and Trade Australia New Zealand Foundation Account

Grawemeyer Award Account

Australia Abroad Council Account

Commonwealth Ombudsman’s Office Other Trust Moneys Account

Services for Other Governments and
Non-Agency Bodies Account