Commonwealth legislation

Financial Management and Accountability Determination 2004/19 — Media Commissions Account Variation and Abolition 2004

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This Act has been repealed and is no longer in force. It is retained for historical reference.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 updates how government advertising commissions are held and moved: it enables balances in the existing Media Commissions Account to be credited into a new Media Commissions Special Account and provides for automatic closure of the old account once its balance is zero. It affects public servants and agency finance teams managing advertising budgets and prevents funds being stranded during the administrative transition to the new account mechanism.

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Financial Management and Accountability Determination 2004/19 — Media Commissions Account Variation and Abolition 2004

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Financial Management and Accountability Determination 2004/19 — Media Commissions Account Variation and Abolition 2004

I, NICK MINCHIN, Minister for Finance and Administration, make this Determination under subsections 20 (2) and (3) of the Financial Management and Accountability Act 1997.

Dated 19 November 2004

Nick Minchin

Minister for Finance and Administration

1 Name of Determination

This Determination is the Financial Management and Accountability Determination 2004/19 — Media Commissions Account Variation and Abolition 2004.

Note This Determination takes effect in accordance with section 22 of the Financial Management and Accountability Act 1997. The Parliament must consider the Determination before it can take effect.

2 Variation of Determination to Establish Components of the Reserved Money Fund

Schedule 1 varies the Determination to Establish Components of the Reserved Money Fund that included the establishment of the Media Commissions Account.

3 Abolition of Media Commissions Account

The Media Commissions Account is abolished with effect from the time, after Schedule 1 takes effect, at which the balance of the appropriation for the Media Commissions Account reaches zero.

Schedule 1 Variation

(section 2)

Do not delete : Schedule Part Placeholder

[1] Determination, attachment

after

For expenditure to transfer media commissions through the central advertising system to advertising agencies.

insert

To credit amounts to the Media Commissions Special Account.

Source text

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

1 Financial Management and Accountability Determination 2004/19 — Media Commissions Account Variation and Abolition 2004

Financial Management and Accountability Determination 2004/19 — Media Commissions Account Variation and Abolition 2004

I, NICK MINCHIN, Minister for Finance and Administration, make this Determination under subsections 20 (2) and (3) of the Financial Management and Accountability Act 1997.

Dated 19 November 2004

Nick Minchin

Minister for Finance and Administration

1 Name of Determination

This Determination is the Financial Management and Accountability Determination 2004/19 — Media Commissions Account Variation and Abolition 2004.

Note This Determination takes effect in accordance with section 22 of the Financial Management and Accountability Act 1997. The Parliament must consider the Determination before it can take effect.

2 Variation of Determination to Establish Components of the Reserved Money Fund

Schedule 1 varies the Determination to Establish Components of the Reserved Money Fund that included the establishment of the Media Commissions Account.

3 Abolition of Media Commissions Account

The Media Commissions Account is abolished with effect from the time, after Schedule 1 takes effect, at which the balance of the appropriation for the Media Commissions Account reaches zero.

Schedule 1 Variation

(section 2)

Do not delete : Schedule Part Placeholder

[1] Determination, attachment

after

For expenditure to transfer media commissions through the central advertising system to advertising agencies.

insert

To credit amounts to the Media Commissions Special Account.