80Application of the Public Governance, Performance and Accountability Act 2013

80 Application of the Public Governance, Performance and Accountability Act 2013

(1) The provisions of the Public Governance, Performance and Accountability Act 2013 referred to in subsection (2) have effect as if: (a) the Board and the Agency were a single Commonwealth entity; and (b) the Chair were the accountable authority of that single Commonwealth entity; and (c) an annual report given to the Minister under section 46 of that Act were an annual report for that single Commonwealth entity; and (d) the nominated Minister were the responsible Minister; and (e) if the Agency is a listed entity for the purposes of that Act—the Agency were not a Commonwealth entity in its own right.

Note: The Board is not a Commonwealth entity (see subsection 10(2) of the Public Governance, Performance and Accountability Act 2013).

(2) The provisions of the Public Governance, Performance and Accountability Act 2013 are the following: (a) Division 3 of Part 2‑3 (which deals with performance of Commonwealth entities); (b) Division 4 of Part 2‑3 (which deals with financial reporting and auditing for Commonwealth entities), except section 44; (c) Division 5 of Part 2‑3 (which deals with audit committees for Commonwealth entities); (d) Division 6 of Part 2‑3 (which deals with annual reports for Commonwealth entities).

Note: This means, for example, that there will be:

(a) a single set of accounts and records for both the Board and the Agency; and
(b) a single set of annual financial statements in relation to both the Board and the Agency; and
(c) auditing of the single set of annual financial statements; and
(d) a single audit committee for both the Board and the Agency.

104 Subsection 81(1)

Omit “The Chair must, as soon as practicable after the end of each financial year, prepare and give to the nominated Minister a report of”, substitute “The annual report given to the nominated Minister under section 46 of the Public Governance, Performance and Accountability Act 2013 for a period must include”.

105 Paragraphs 81(1)(a) and (b)

Repeal the paragraphs.

106 Subsection 81(1)

Omit “during the financial year”, substitute “during the period”.

107 Subsection 81(1A)

Omit “under subsection (1) for a financial year”, substitute “referred to in subsection (1) for a period”.

108 Subsection 81(1A)

Omit “during the financial year”, substitute “during the period”.

109 Subsection 81(1B)

Omit “under subsection (1) for a financial year”, substitute “referred to in subsection (1) for a period”.

110 Subsection 81(1B)