Commonwealth legislation

Financial Management and Accountability Determination 2010/01 - Abolition of Special Accounts 2010

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This Act has been repealed and is no longer in force. It is retained for historical reference.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

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This determination closes two special government bank accounts held by the Department of Environment, Water, Heritage and the Arts.

What are Special Accounts? These are separate pots of money set aside for specific purposes, kept distinct from the government's general bank account.

What this does:

Abolishes the Other Trust Moneys Account
Abolishes the Services for other Governments and Non-agency Bodies Account

When this happens: The accounts are officially shut down automatically once their balances reach zero—that is, after all remaining money has been spent or transferred elsewhere.

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Financial Management and Accountability Determination 2010/01 - Abolition of Special Accounts 2010

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Financial Management and Accountability Determination 2010/01 – Abolition of Special Accounts 2010

I, LINDSAY TANNER, Minister for Finance and Deregulation, make this Determination under subsection 20 (3) of the Financial Management and Accountability Act 1997.

Dated January 28th 2010

Lindsay Tanner

Minister for Finance and Deregulation

1 Name of Determination

This Determination is the Financial Management and Accountability Determination 2010/01 – Abolition of Special Accounts 2010.

2 Commencement

This Determination will commence upon registration on the Federal Register of Legislative Instruments.

3 Abolition

The following Special Accounts, administered by the Department of the Environment, Water, Heritage and the Arts, are abolished with effect from the time at which the balance of the appropriation for the Special Account reaches zero: Other Trust Moneys Account and the 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 2010/01 - Abolition of Special Accounts 2010