48SRegulations about financial management and accountability—Territory authorities

48S Regulations about financial management and accountability—Territory authorities

(1) The regulations may make provision in relation to the following matters: (a) money of a Territory authority; (b) property of a Territory authority; (c) other resources of a Territory authority. (2) Regulations made for the purposes of subsection (1) may make provision in relation to the following matters: (a) the control and management of money of a Territory authority; (b) financial and accounting systems in relation to: (i) money of a Territory authority; or (ii) property of a Territory authority; or (iii) other resources of a Territory authority; (c) the control and management of grants of money of a Territory authority; (d) the control and management of property of a Territory authority; (e) the procurement of property and services by a Territory authority; (f) the disposal of property of a Territory authority; (g) the audit of the annual financial statements prepared under section 48B in relation to a Territory authority. (3) Regulations made for the purposes of subsection (1) may make provision for ensuring or promoting the following: (a) the proper use and management of: (i) money of a Territory authority; or (ii) property of a Territory authority; or (iii) other resources of a Territory authority; (b) proper accountability for the use and management of: (i) money of a Territory authority; or (ii) property of a Territory authority; or (iii) other resources of a Territory authority. (4) Regulations made for the purposes of subsection (1) may confer functions or powers on: (a) the Auditor‑General; or (b) the Minister for Finance; or (c) the Chief Executive Officer; or (d) the responsible manager or managers of a Territory authority. (5) Subsections (2), (3) and (4) do not limit subsection (1). (6) If an enactment is inconsistent with regulations made for the purposes of subsection (1), the enactment has no effect to the extent of the inconsistency.