PGPA Act Determination (IP Australia SOETM Special Account 2021)

The instrument uses a small set of statutory concepts; each has a specific effect on how the special account will be used and administered. The definitions in section 4 are the primary source for these concepts (s 4).

• Act: defined as the Public Governance, Performance and Accountability Act 2013 (s 4). The instrument is made under specified powers in that Act (s 3). The Act provides the overarching legal framework for special accounts, although the instrument does not reproduce the Act’s provisions beyond cross-references.
• Entity: the listed entity known as IP Australia (s 4). The account is tied to this single entity, and that entity’s accountable authority is responsible for the special account (s 6).
• SOETM and SOETM special account: SOETM is an acronym for Services for Other Entities and Trust Moneys, and SOETM special account refers to the pre-existing Services for Other Entities and Trust Moneys - IP Australia Special Account established by the older instrument (s 4). The instrument revokes that earlier instrument (s 10) and transfers the prior special account balance into the new account as the opening balance (s 9).
• SOETM instrument: the earlier Financial Management and Accountability (Establishment of Special Account for IP Australia) Determination 2011/11 (s 4, s 10). That instrument is explicitly revoked (s 10).
• Special account (the subject of this instrument): the IP Australia SOETM Special Account 2021 established by this Determination (s 4, s 5). The special account is a statutory appropriation vehicle under the Act (s 5).
• Accountable authority: the accountable authority responsible for the special account is the accountable authority of IP Australia (s 6). That designation allocates decision-making responsibility for credits and debits to the entity that already has statutory accountability under the Act.
• Credits (section 7): the types of receipts that can be credited to the special account are exhaustively listed in s 7. They include trust moneys held for others, amounts received in performing functions that relate to the account’s purposes, and amounts received from any person for the purposes of the special account (s 7(1)-(c)). The instrument frames these categories with the Act’s paragraph 78(1)(b) in mind.
• Purposes/debits (section 8): the instrument prescribes six purposes for which amounts may be debited from the special account. These range from disbursing trust funds for beneficiaries other than the Commonwealth (s 8(1)), to disbursements in connection with services or joint activities for or with Commonwealth entities and other governments (s 8(2)-(4)), to repayment where a court order, Act or other law requires repayment (s 8(5)), and an accounting adjustment to reduce the account balance without a payment (s 8(6)). Each listed purpose constrains permissible debits.
• Transitional mechanics: the opening balance is defined as the amount standing to the credit of the SOETM special account immediately before commencement and must be credited to the new special account immediately after establishment (s 9(1)-(2)). Part 3’s repeal timetable and the revocation of the SOETM instrument are described in sections 10 and 11.

These concepts limit what may be placed into and taken from the account, allocate administrative responsibility to IP Australia’s accountable authority, and provide transitional continuity with the previous SOETM arrangement. The instrument couples statutory definition with operational direction by mandating the immediate crediting of the opening balance (s 9) and revoking the prior instrument (s 10).

The instrument identifies and thereby affects a small, definable set of parties and public accounting relationships. The primary affected parties are IP Australia as the listed entity, the accountable authority of IP Australia, persons who have amounts held on trust or otherwise on behalf of persons other than the Commonwealth, counterpart Commonwealth entities and Commonwealth companies, other governments or organisations and persons involved in joint activities, and any person from whom amounts are received for the account’s purposes (see s 4, s 6, s 7, s 8).

• IP Australia and its accountable authority: the accountable authority is explicitly designated responsible for the special account (s 6). This assigns operational, record-keeping and decision-making responsibility to that body. As the accountable authority under the Act, it will be the decision-maker for credits and debits allowed by the instrument (s 6).
• Beneficiaries of trust moneys and persons on whose behalf funds are held: amounts “held on trust, or otherwise on behalf of or for the benefit of a person other than the Commonwealth” may be credited to the special account (s 7(1)). Those beneficiaries are directly affected because the special account is the repository from which disbursements under s 8(1) will be made. The instrument therefore affects the pathway by which trust funds held by or through IP Australia are administered and paid out.
• Persons contracting with IP Australia or other Commonwealth entities: the account may receive amounts “in the course of the performance of functions that relate to one or more purposes of the special account” and “amounts received from any person for one or more purposes” (s 7). Suppliers, contractors, clients and counterpart governments who pay IP Australia for services that fall within the account purposes will find funds routed into this special account.
• Commonwealth entities, Commonwealth companies, other governments, organisations, bodies and persons engaged in services or joint activities with IP Australia: clause 8(2)-(4) authorises disbursements in connection with services performed for, on behalf of or together with these parties, and for agreements between the Commonwealth and another government (s 8(2)-(4)). These counterparts are affected because the instrument establishes the funding channel for such collaborative or contracted work.
• Persons subject to repayment obligations: s 8(5) provides for debits to repay amounts where a court order, an Act or other law requires or permits repayment. Parties who have overpaid, or against whom repayment orders are made, are materially affected because the instrument identifies the special account as the mechanism for such repayments.
• The Commonwealth appropriation architecture: clause 8(6) expressly allows the account balance to be reduced “without making a real or notional payment” and states that doing so reduces “the available appropriation for the special account” (s 8(6)). That connects the special account’s balance to the availability of appropriation under the Act and affects budgeting and appropriation supply as far as this special account is concerned.

Through the immediate crediting of the prior SOETM account’s balance to the new account (s 9), parties who had an interest in the prior account are affected by the continuity mechanism that the instrument mandates. The revocation of the prior SOETM instrument (s 10) and the timed repeal of Part 3 definitions (s 11) may affect administrators and legal teams who must update documentation and governance instruments to reflect that the new determination, not the 2011 instrument, is now authoritative for the account’s establishment and mechanics.

The determination assigns duties principally to IP Australia’s accountable authority and defines rights for persons whose moneys are handled through the account. The instrument situates those duties and rights by reference to permissible credits, authorised debits and transitional steps. The following are the concrete duties and rights present in the instrument text.

Duties

• Accountable authority duty to act as responsible authority: section 6 designates the accountable authority of IP Australia as the accountable authority responsible for the special account. That designation creates the duty to administer the account in line with the Act and the boundaries set out in this instrument (s 6). While the instrument does not list procedural duties, the accountable authority must ensure credits and debits comply with sections 7 and 8.
• Duty to credit the opening balance immediately after establishment: section 9(1) requires that the opening balance, defined in s 9(2) as the amount standing to the credit of the SOETM special account immediately prior to commencement, be credited to the special account immediately after its establishment. That is a mandatory transitional duty.
• Duty to limit credits to permitted amounts: section 7 restricts what may be credited to the special account. The accountable authority must accept only the kinds of amounts listed in subsection 7(1) (trust amounts, amounts received in the course of relevant functions, amounts received from any person for the account’s purposes).
• Duty to debit only for prescribed purposes: section 8 delineates six purposes for which debits may be made. The accountable authority must ensure disbursements are only for those authorised purposes, including disbursements to beneficiaries, payments related to services or joint activities, repayments required by law, and balance reductions under s 8(6).
• Duty to give effect to the revocation and repeal timetable: sections 10 and 11 impose administrative obligations , revoking the prior SOETM instrument and effecting the scheduled repeal of Part 3 and certain definitions after seven days. The instrument also states that despite the repeal, Part 3’s effects remain in force after the date of repeal (s 11(2)), which imposes a record-keeping or interpretative obligation.

Rights

• Beneficiaries’ right to disbursement: persons for whose benefit amounts are held on trust have an identified entitlement as the account authorises debits to disburse such amounts (s 8(1)). The instrument thereby provides a statutory pathway for fulfilling trust disbursement obligations when funds are held in the special account.
• Counterparties’ right to have payments held and disbursed according to the account purposes: parties who pay IP Australia for services that fall within the account’s purposes have the right to have those amounts credited to a special account and used for the stated purposes (s 7, s 8(2)-(4)).
• Right to repayment where law or court order requires: section 8(5) identifies repayment as a permitted debit, which aligns the special account with statutory or court-ordered repayment obligations.

Constraints and limits

• The instrument sets legal constraints on accounts’ use by specifying the types of credits and purposes for debits (ss 7-8). It does not provide additional granularity on internal approvals, thresholds or delegation. Those operational details are left to the accountable authority and to the Act’s governance framework, which the instrument references as its legal source (s 3).

These duties and rights are narrowly framed by the document. The accountable authority must reconcile them with its broader obligations under the Act and internal governance instruments. The instrument prescribes the legal boundaries; it does not prescribe operational approval flows or sanctions for non‑compliance in the text itself.

The determination contains no express penalty provision, criminal offence, civil sanction or administrative penalty within its text. It focuses on the establishment, permissible credits and debits, transitional mechanics and revocation of the prior instrument. The instrument’s statutory basis under the Act is stated (s 3), which means that any enforcement, audit, or penalty mechanisms applicable to special accounts will derive from the Act and broader financial management law rather than from this instrument itself.

Key points from the instrument relevant to enforcement and oversight:

• Absence of penalty clauses: sections 1 through 11 set out establishment, definitions, permitted receipts and payments, transitional obligations and revocation. None of those sections specify penalty regimes, sanctions, offences or administrative penalties. Practitioners should therefore look to the Act for enforcement mechanisms and to IP Australia’s internal governance framework for administrative controls.
• Reliance on the Act’s framework: the instrument is expressly made under subsections 78(1) and 78(3) of the Act (s 3). Any statutory enforcement of misuse of public money, breach of duties by an accountable authority, or audit powers that apply to special accounts will be found in the Act and not in the instrument text itself. The instrument does not restate the Act’s compliance or enforcement provisions.
• Audit and accountability implications: by designating IP Australia’s accountable authority as responsible for the special account (s 6), the instrument places the account within the accountability system that applies to that authority under the Act. That implies the account will be subject to the Act’s reporting and audit obligations, again through the Act rather than through this instrument.
• Operational oversight not specified: the instrument does not set out internal control requirements, delegation limits, or procedural approval steps for debits and credits. Those operational enforcement mechanisms will need to be provided by IP Australia’s internal policies, consistent with the Act’s governance obligations.

In short, the instrument creates the statutory vehicle and prescribes permissible transactions but leaves enforcement mechanisms to the Act and to institutional governance. The instrument itself does not create new penalties or enforcement pathways.

The determination is tightly cross‑referenced to the Public Governance, Performance and Accountability Act 2013 and interacts directly with a pre-existing Financial Management and Accountability instrument. The instrument’s interactions are explicit in its text.

Primary statutory interaction

• Relationship with the Act: the instrument is made under subsections 78(1) and 78(3) of the Act and commences in accordance with the day mentioned in paragraph 79(5)(a) of the Act or 1 July 2021, whichever is later (s 2, s 3). Those cross-references place the special account within the Act’s framework for special accounts and appropriation handling. The instrument does not reproduce the Act’s provisions but depends on the Act for the legal machinery and governance that apply to special accounts.
• Appropriation effects: section 8(6) expressly links the special account’s balance to appropriation availability. Reducing the balance without making a real or notional payment reduces the available appropriation for the special account. That establishes an accounting interaction between the special account balance and the appropriation regime under the Act, meaning that adjustments to the account can affect appropriation availability without cash flows.

Relationship with prior special-account instrument and FM Act regime

• Revocation of the SOETM instrument: section 10 revokes the Financial Management and Accountability (Establishment of Special Account for IP Australia) Determination 2011/11. That changes the statutory basis that previously governed IP Australia’s SOETM special account and brings administration under this new determination (s 10).
• Transitional transfer of balances: section 9 requires the immediate credit of the amount that was standing to the credit of the SOETM special account immediately prior to commencement. That continues the practical effect of the prior account while changing the legal instrument under which it operates (s 9(1)-(2)).

Intergovernmental and external legal interactions

• Agreements with other governments: section 8(4) authorises disbursements in connection with an agreement between the Commonwealth and another government. That explicitly contemplates that funds processed through this special account may be directed to satisfy intergovernmental agreement obligations, and therefore the instrument interacts with the legal and financial commitments arising from such agreements (s 8(4)).
• Court-ordered or statutory repayment obligations: section 8(5) expressly authorises debits for repayments where “a court order, Act or other law requires or permits the repayment of an amount received.” That provides a statutory channel within this special account for giving effect to judicial or statutory repayment obligations, linking the account to the operation of other laws that can create repayment obligations (s 8(5)).

Administrative material and publication

• Commencement metadata is not part of the instrument: section 2(2) clarifies that information placed in column 3 of the commencement table is not part of the instrument and may be edited on the Federal Register of Legislation. That governs how the instrument’s published metadata interacts with the instrument text and prevents metadata alterations from changing the instrument’s legal content (s 2(2)).

Repeal and definition interactions

• Timed repeal of Part 3 and definition removals: section 11 provides for the repeal of Part 3 at the end of the seventh day after revocation of the SOETM instrument and the repeal of the definitions of SOETM instrument and SOETM special account on that date, but preserves the effects of Part 3 after repeal (s 11(1)-(2)). This creates a legal sequencing that affects how previous instruments and definitions are treated and ensures continuity despite the revocation.

Overall, the instrument is an implementation-level device that substitutes a new special-account determination into the Act’s special-account architecture, revokes the previous FM Act instrument, secures balance continuity, anticipates intergovernmental payments and repayments required by other laws, and connects the account’s balance to appropriation availability under the Act.

The instrument text is self-contained and records its own making and commencement mechanics. The amendment history that appears in the instrument itself is limited to its enactment details, commencement timing, revocation of the prior SOETM instrument and the scheduled repeal of Part 3 definitions. The instrument does not record subsequent amendments within the supplied text.

Key chronological and amendment items set out in the determination:

• Instrument identification and maker: the document identifies itself as the PGPA Act Determination (IP Australia SOETM Special Account 2021) and records that it is made by Simon Birmingham, Minister for Finance, dated 31 May 2021 (front page and signature block). Section 1 restates the instrument name (s 1).
• Commencement sequencing: section 2 sets out a commencement rule tying effective operation to the later of the day mentioned in paragraph 79(5)(a) of the Act or 1 July 2021. The instrument also notes that material in the commencement table’s column 3 is not part of the instrument and may be edited on the Federal Register of Legislation (s 2(1)-(2)). That is a self-contained commencement provision rather than an amendment.
• Authority: section 3 records the statutory authority for making the instrument, namely subsections 78(1) and 78(3) of the Act (s 3).
• Revocation of earlier instrument: section 10 expressly revokes the Financial Management and Accountability (Establishment of Special Account for IP Australia) Determination 2011/11 (the SOETM instrument) (s 10). That is a replacement rather than a textual amendment of the earlier instrument; the 2011 instrument is removed from force.
• Transitional and repeal provisions: section 9 prescribes the opening balance transfer from the prior SOETM special account to the new special account at establishment (s 9(1)-(2)). Section 11 schedules the repeal of Part 3 at the end of the seventh day after revocation and prescribes the repeal of the definitions of SOETM instrument and SOETM special account on that date (s 11(1)-(2)). Despite those repeals, the instrument preserves the effects of Part 3 beyond the date of repeal (s 11(2)). These are built-in transitional amendment-type mechanics rather than subsequent textual amendments.
• No later amendments recorded in the supplied text: the instrument as supplied does not contain later amendment notes, marginal notes evidencing amendments, or schedules of historical amendments beyond the revocation and repeal measures described above. Any subsequent amendments, if they exist, are not contained in the provided instrument text and would only be visible on the official register or in later instruments.

Practitioners should therefore treat this text as the 2021 establishing determination together with its internal transitional provisions. If there have been later amendments or reprints, those are not present in the supplied instrument and would need to be checked on the Federal Register of Legislation for any post-commencement changes, noting that the instrument itself distinguishes between substantive text and non‑instrument metadata in the commencement table (s 2(2)).

The determination text does not include any judicial or tribunal decisions. The instrument names no cases and records no litigation or disputes. Because the supplied text is limited to the determination’s substantive provisions, there is no litigation history recorded within the instrument itself.

What the instrument does show that is relevant to potential litigation or dispute:

• Court-ordered repayments: section 8(5) contemplates that a court may order repayment, by expressly authorising debits from the special account “where a court order, Act or other law requires or permits the repayment of an amount received.” That recognises the possibility of court‑based obligations interacting with the special account, but the instrument contains no litigation record or procedural prescription for how contested repayment claims are to be processed (s 8(5)).
• No in‑instrument dispute resolution or appeals pathways: the text does not set out rights of review, appeal or dispute escalation specific to transactions under the special account. Any dispute resolution pathways would therefore derive from other legal sources, including the Act and general administrative law, not from this instrument itself.
• Continuity and revocation may be relevant to disputes about funds previously held under the SOETM instrument: the instrument carries forward the prior SOETM account balance as the opening balance of the new account (s 9) and revokes the prior instrument (s 10). Should a dispute arise about funds that were in the pre-existing SOETM special account, the immediate transfer of the opening balance to the new account is the statutory mechanism for continuity; any litigation concerning those funds would need to take account of the new legal basis for the account and the revocation of the prior instrument.

In sum, the instrument itself records no litigation history. Any litigation relating to the account, its transfers, disbursements or the revocation of the prior instrument would need to be identified from external judicial records and would be dealt with under the Act, administrative law and relevant substantive law, not within the instrument text.

The instrument is concise, but several practical and legal friction points emerge from the text that counsel, accountants and compliance professionals should be alert to. These are concrete operational, interpretative and sequencing issues grounded in the instrument’s provisions.

1. Commencement dependency and timing uncertainty (s 2)

• The instrument’s commencement is the later of the day mentioned in paragraph 79(5)(a) of the Act or 1 July 2021 (s 2(1)). Practitioners must check the Act’s relevant paragraph to determine the precise commencement date. The instrument’s own text does not fix a single calendar date, so assuming 1 July 2021 without reference to paragraph 79(5)(a) of the Act risks error.

2. Column 3 metadata is not part of the instrument (s 2(2))

• Section 2(2) explicitly states that any information in column 3 of the commencement table is not part of the instrument and may be edited on the Federal Register of Legislation. Users must not rely on column 3 content published on the FRL as substantive law. This can trip up administrators who assume the FRL’s metadata or editorial notes have legal effect.

3. Immediate crediting of opening balance imposes operational deadlines (s 9)

• The opening balance, defined as the amount standing to the credit of the SOETM special account immediately prior to commencement, “is required to be credited to the special account immediately after its establishment” (s 9(1)-(2)). That imposes an immediate administrative action. Systems and staff must be prepared to effect the transfer and record it; failure to do so immediately could create accounting discrepancies.

4. Revocation of the prior instrument coupled with Part 3’s short-term repeal creates sequencing complexity (s 10-11)

• The instrument revokes the SOETM instrument (s 10) and then provides for Part 3’s repeal at the end of the seventh day after revocation while preserving Part 3’s effects after repeal (s 11(1)-(2)). This creates a potentially confusing legal posture for those tracking which instrument and which definitions remain on the statute book at particular times. Legal teams should map the effective dates and retained effects carefully.

5. Definitions to be repealed after the transitional period (s 11)

• Section 11(2) stipulates the repeal of the definitions of SOETM instrument and SOETM special account on the date of repeal. Those definitions are part of section 4 now but are scheduled for removal after the transitional period. Practically, that means legal references or internal policies that rely on those defined terms must be updated to reflect their removal.

6. Narrow classes of permissible credits and debits (ss 7-8)

• Credits are limited to the categories in s 7 and debits to the six purposes in s 8. Money that does not fall within those defined categories should not be credited to or paid from the special account. Practitioners must ensure that receipts are classified correctly. Misclassification can lead to appropriation or accounting errors; however, the instrument does not itself set out remedies for misclassification.

7. Reduction of appropriation without payment (s 8(6))

• Section 8(6) authorises reducing the account balance (and therefore the available appropriation) “without making a real or notional payment.” That is an accounting action that reduces appropriation availability without funds movement. Budget officers and appropriation managers must account for such non‑cash adjustments appropriately. Failure to reconcile these adjustments could affect spending authority.

8. No operational or procedural detail in the instrument

• The instrument prescribes what may be credited and debited and who is responsible, but it does not supply procedural steps, internal delegation rules, approval thresholds or documentation requirements. IP Australia must supply these operational controls under the Act and its internal governance framework.

9. No penalties or explicit enforcement mechanisms in the instrument

• Because the determination contains no penalty clauses, enforcement will depend on the Act and internal accountability mechanisms. Stakeholders should not expect new enforcement procedures to be contained in this instrument.

10. Interplay with intergovernmental agreements and court orders (ss 8(4)-(5))

• The instrument permits payments under agreements with other governments and for repayment obligations ordered by courts or required by law. That exposes the special account to obligations that may arise under external legal frameworks. Practically, administrators must be ready to execute payments when such external obligations crystallise, and to document the legal basis for debits.

Addressing these gotchas requires coordination across legal, finance and operational teams at IP Australia, and careful reference to the Act for governance, auditing and enforcement details not reproduced in the instrument.

Compliance with the determination requires a set of concrete, documentable steps for IP Australia’s accountable authority and administrative staff. The instrument sets legal constraints; internal policies must operationalise them and align with the Act. The following practical checklist and explanations are grounded in the instrument’s provisions.

1. Confirm commencement date and record it in governance documents (s 2)

• Verify whether the instrument’s commencement is the day mentioned in paragraph 79(5)(a) of the Act or 1 July 2021, whichever is later (s 2(1)). Record the effective date formally in internal governance documents and in financial system calendars.

2. Credit the opening balance immediately after establishment (s 9)

• Determine the amount that was standing to the credit of the SOETM special account immediately prior to commencement and effect an immediate credit of that opening balance to the new special account (s 9(1)-(2)). Maintain a clear audit trail showing the source balance calculation and the accounting entries that moved the funds.

3. Update account charts and ledger codes to reflect the new special account (s 5, s 4)

• Establish the new account in financial systems under the name IP Australia SOETM Special Account 2021 (s 1, s 5). Remove or archive the prior SOETM account code once the opening balance is transferred and ensure ledgers reflect the revocation of the prior instrument (s 10).

4. Restrict credits to the statutory categories (s 7)

• Implement controls so that only amounts of the types specified in s 7 may be credited. That means verifying that receipts are:
  • trust moneys held on behalf of persons other than the Commonwealth;
  • amounts received in the course of performing functions related to the special account’s purposes; or
  • amounts received from any person for the special account’s purposes (s 7).
• Require documentation proving the legal basis for each receipt and routing instructions to the special account.

5. Limit debits to the six prescribed purposes and document legal authority (s 8)

• Before any debit is made, confirm and document that it falls under one of the six purposes in s 8:
  1. disburse trust amounts for beneficiaries other than the Commonwealth (s 8(1));
  2. disburse amounts in connection with services for, on behalf of, or together with Commonwealth entities, companies, governments, organisations, bodies or persons (s 8(2));
  3. disbursements for joint activities (s 8(3));
  4. disbursements in connection with agreements between the Commonwealth and another government (s 8(4));
  5. repayments required by court order, Act or other law (s 8(5));
  6. reducing the balance (and appropriation) without making a payment (s 8(6)).
• Keep legal instruments, agreements, court orders or internal authorisations with each debit’s file to show compliance.

6. Record and justify any balance reduction that is not a payment (s 8(6))

• If exercising s 8(6) to reduce the account balance without a real or notional payment, record the accounting rationale, the appropriation impact, and relevant approvals. Ensure budget and appropriation managers sign off because such reductions affect available appropriation.

7. Update internal policy, delegations and approval matrices (s 6)

• As the accountable authority identified in s 6, IP Australia must adopt or update delegation instruments, financial delegations and approval processes to reflect responsibility for the special account. Document who may authorise credits, debits and balance adjustments, consistent with the Act.

8. Preserve and transfer records from the revoked SOETM instrument (s 9-10)

• Maintain records from the previous SOETM special account showing provenance of funds, beneficiary designations, agreements and payment histories. Ensure the opening-balance calculation is auditable and that earlier transaction records are linked to the new account to facilitate audits and possible repayments (s 9(1)-(2), s 10).

9. Monitor intergovernmental agreement obligations and court-ordered repayments (s 8(4)-(5))

• For payments under agreements with other governments or for court‑ordered repayments, keep the instrument or order available in the payment file and ensure legal counsel reviews the payment basis and timing. Confirm that funds in the special account are available and correctly classified to meet such obligations.

10. Keep documentation showing that column 3 FRL metadata is not law (s 2(2))

• Section 2(2) makes clear that information in column 3 of the commencement table is not part of the instrument. Maintain documentation that any FRL metadata or editorial notes were consulted but are not the legal authority. Archive the authoritative instrument text as the legal reference.

11. Train finance and legal staff on the account boundaries and transitional provisions (ss 7-9, 11)

• Provide targeted training to those who will process incoming funds and approve disbursements so they understand the constraints in ss 7 and 8, the requirement to credit the opening balance immediately (s 9) and the revocation and repeal sequencing (ss 10-11). Ensure that staff understand that certain definitions are scheduled for repeal under s 11 and that the effects remain despite repeal.

12. Prepare for Part 3 repeal and definition removals (s 11)

• Map internal references to the definitions of SOETM instrument and SOETM special account (s 4) and prepare to remove or update such references when those definitions are repealed after the transitional period, while ensuring the continuing effect of Part 3 is preserved in operational records as required by s 11(2).

Following these steps and maintaining a conservative approach to credits and debits will put IP Australia in a position to comply with the instrument as written. Because the instrument relies on the Act for enforcement and broader governance, ensure that internal controls meet the Act’s reporting, audit and accountability standards. Legal and finance teams should work together to document every receipt and disbursement so that each transaction can be traced to an explicit subsection of sections 7 or 8.