Title
1 Short Title and commencement
1A Purpose
2 Interpretation
3 Act to bind Crown
3A Power to amend Schedule 4
3AA Meaning of
generally accepted accounting practice [Repealed]
Part 1
Appropriations
Requirement for
appropriations
4 Expenses or capital expenditure
must not
be incurred unless in accordance with appropriation or statutory authority
5 Public money
must not be spent unless in
accordance with statutory authority
6 Authority to
spend public money
7 Separate appropriation
required for types
of expenses and capital expenditure
8 Appropriation
limited by amount
9 Appropriation
limited by scope
9A Supplementary
Estimates [Repealed]
10 Appropriation
limited by period
11 Expenses or
payments authorised other than
by Appropriation Act
12 Timing of first
Appropriation Bill for financial
year
Information requirements
for appropriations
13 Estimates and other supporting
information
must be presented with first Appropriation Bill
14 Content of Estimates
15 Other supporting
information for first Appropriation
Bill
16 Supplementary
Estimates must be presented
with Supplementary Appropriation Bill
17 Content of Supplementary
Estimates
18 Minister must
consult on proposal to change
format or content of information presented with Appropriation Bills
19 Power of Secretary
to obtain information
Other provisions
relating to appropriations
20 Departments may incur output
expenses for,
or on behalf of, other departments
21 Expenses restricted
by revenue
22 Operating surplus
of department
23 Net assets of
departments must be confirmed
24 Movements within
departmental statement
of financial position
25 Expenses or
capital expenditure may be incurred
in emergencies
26 Minister may
determine terms and conditions
of capital injections
26A Transfer of
resources between output expense
appropriations
26B Minister may
approve expenses or capital
expenditure to be incurred in excess of existing appropriation
26C Expenses or
capital expenditure incurred
without appropriation or other authority requires validation by Parliament
26D Reporting requirements
in relation to expenses
or capital expenditure incurred in excess of, or without, appropriation
Application of
this Part to Offices of Parliament
26E Application of this Part to
Offices of Parliament
Part 2
Fiscal responsibility
Preliminary
26F Interpretation
26G Principles
of responsible fiscal management
26H Generally accepted
accounting practice
Fiscal strategy
report
26I Fiscal strategy report
26J Contents of
fiscal strategy report: long-term
objectives
26K Contents of
fiscal strategy report: short-term
intentions
26L Contents of
fiscal strategy report: other
matters
Budget policy
statement
26M Budget policy statement
Statement on
long-term fiscal position
26N Statement on long-term fiscal
position
Economic and
fiscal updates
26O Economic and fiscal update
26P Economic forecasts
26Q Fiscal forecasts
26R Annual statement
of tax policy changes
26S Half-year economic
and fiscal update
26T Pre-election
economic and fiscal update
Disclosure requirements
for economic and fiscal updates
26U Disclosure of policy decisions
and other
circumstances that may influence future fiscal situation
26V Limits on disclosure
requirements
Statement of
responsibility
26W Requirements for statement of
responsibility
Miscellaneous
26X Certain statements and updates
may be published
in advance of presentation to House of Representatives
26Y Notification
and availability of reports,
statements, or updates
26Z Power of Secretary
to obtain information
Part 3
Reporting by Government reporting entity
27 Annual financial statements of
Government
28 Half-year financial
statements of the Crown [Repealed]
29 Responsibility
for annual financial
statements of Government
29A Power of Secretary
to obtain information
29B Auditor-General
to be auditor of Government reporting entity
30 Audit report
31 Annual financial
statements must be presented
to House of Representatives
31A Monthly financial
statements of Government
31B Publication,
inspection, and purchase of
financial statements of Government reporting entity
32 Monthly cash
flow statements [Repealed]
32A Additional
reports in relation to non-departmental
appropriations
Part 4
Reporting by departments
33 Interpretation
Responsibilities
of chief executives
34 Responsibilities of departmental
chief executives:
financial management
34A Forecast financial
statements of departments [Repealed]
35 Responsibilities
of departmental chief executives:
reporting
36 Departmental
chief executives not responsible
for financial performance of other entities
Power of chief
executives to obtain information
37 Power of departmental chief executives
to
obtain information
Reporting requirements—information
on future operating intentions
38 Departments must provide information
on
future operating intentions
39 Obligation to
present and publish information
on future operating intentions
40 Requirements
for information on future operating
intentions
41 Extra information
required for first financial
year
41A Special provisions
in relation to annual financial statements of school Board of Trustees [Repealed]
41B Special provisions
in relation to annual financial statements of Boards under Reserves
Act 1977 [Repealed]
41C Draft statement
of intent [Repealed]
41D Contents of
statement of intent [Repealed]
41E Completed statement
of intent [Repealed]
41F Laying of statement
of intent before House of Representatives [Repealed]
41G Power of Responsible
Minister to require Crown entity to modify statement of intent [Repealed]
41H Power of Crown
entity to modify statement of intent [Repealed]
41I Annual report
of Crown entities named or described in Schedule 6 [Repealed]
42 Information
on future operating intentions
must include statement of responsibility
Reporting requirements—annual
reports
43 Departments must prepare annual
reports
44 Obligation to
present and publish departmental
annual reports
44A Laying before
House of Representatives of financial statements of Crown entities
(other than school Boards of Trustees and Reserves Boards) [Repealed]
44B Annual report
in relation to schools' sector [Repealed]
44C Annual financial
statements of school Boards of Trustees [Repealed]
44D Annual financial
statements of Reserves Boards [Repealed]
45 Contents of
departmental annual report
45A Statement of
service performance
45B Annual financial
statements
45C Statement of
responsibility
45D Audit report
Miscellaneous
45E Application of this Part to
intelligence
and security departments
45F Application
of this Part to Offices of Parliament
45G This Part modified
for purpose of applying
Part to Offices of Parliament
Part 5
Special reporting requirements
Subpart 1—Special annual reporting requirements
45H Application of subpart
45I First annual
report for newly established
entities
45J Final annual
report for disestablished entities
45K Timing of special
annual reports, etc
45L Minister may
allow certain information to
be included in another entity's annual report if operations transferred
Subpart 2—Application of provisions of Crown Entities Act 2004
to organisations named or described in Schedule 4
45M Provisions of Crown Entities
Act 2004 that
apply to all Schedule 4 organisations
45N Some provisions
of Crown Entities Act 2004
applied to some Schedule 4 organisations
45O Special provisions
relating to Reserves
Boards
Part 6
Borrowing, securities, derivative transactions,
investment, banking, and guarantees
Subpart 1—Borrowing
Limits on borrowing
by the Crown
46 The Crown must
not borrow except under statute
47 Minister may
borrow on behalf of the Crown
if in public interest
48 Power to borrow
must not be delegated
49 The Crown not
liable for debts of Crown
entities, etc
Appointment of
borrowing agents
50 Minister may appoint agents for
purpose
of borrowing money
51 Appointment
of borrowing agents does not
prevent exercise of power by Minister
52 Borrowings must
be taken to be lawful
52A Crown not to
issue securities except under statute [Repealed]
53 Borrowing agents
may delegate powers
Terms and conditions
of borrowing
54 Minister may determine terms
and conditions
of borrowing
55 Charge on public
revenues
56 Power to borrow
by issue of series of similar
securities
57 Power to vary
borrowings of the Crown
58 Conversion of
money borrowed by the Crown
58A Authority for
the giving by the Crown of guarantees and indemnities [Repealed]
59 Minister may
appoint underwriters, managers,
etc, for borrowings of the Crown
Payments relating
to borrowings
60 Payment of principal and interest
on money
borrowed by the Crown
61 Expenses in
respect of money borrowed by
the Crown
Subpart 2—Securities
Limits on the
Crown issuing securities
62 The Crown must not issue securities
except
under statute
63 Minister may
issue securities for money
borrowed by the Crown
64 Issue or variation
of security taken to
be lawful
Terms and conditions
of securities
65 Securities must be in name of
Sovereign
65A Power to vary
public securities
65B Issue of new
public security on loss, damage,
or destruction of public security
65C Execution of
securities
Payments relating
to securities
65D Payments under public securities
65E Expenses in
respect of securities
Subpart 3—Derivative transactions
Limits on the
Crown entering into derivative transactions
65F The Crown must not enter into
derivative
transactions
65G Minister may
enter into derivative transactions
if in public interest
Payments relating
to derivative transactions
65H Payments relating to derivative
transactions
of the Crown
Subpart 4—Investment
Investment of
public money
65I Investment of public money
65J Payment of
expenses relating to investment
Limits on lending
by the Crown
65K The Crown must not lend money
except under
statute
65L Minister may
lend money to persons or organisations
if in public interest
65M Minister may
lend money to foreign government
65N Authority to
lend money includes authority
to defer payments
65O Repayment of money lent by the Crown
65P Appropriation
required for lending
65Q Securities
relating to lending must be in
name of Sovereign
Subpart 5—Banking
Crown Bank Accounts
65R Crown Bank Accounts
Departmental
Bank Accounts
65S Departmental Bank Accounts
65T Directions
relating to operation of Departmental
Bank Accounts
General
65U Payment into Bank Accounts
65V Requirements
for payment of money out of
Bank Accounts
65W Powers of Minister
or Treasury in relation
to Crown Bank Account and Departmental Bank Account
65X Statement of
accounts must be sent to Treasury
or Auditor-General
65Y Treasury must
report on all expenses and
capital expenditure incurred with or without appropriation or other
statutory authority
65Z Auditor-General
may direct Ministers to
report to House of Representatives in cases involving unlawful expenses,
etc
65ZA Auditor-General
may stop payments out of
Bank Accounts
65ZB Application
of this subpart to Offices of
Parliament
Subpart 6—Guarantees and indemnities
Limits on giving
by the Crown of guarantees and indemnities
65ZC Guarantee or indemnity by the
Crown must
not be given except under statute
65ZD Minister may
give guarantee or indemnity
if in public interest
65ZE Departments
may give guarantee or indemnity
specified in regulations if in public interest
Other provisions
relating to guarantees and indemnities
65ZF Recovery of money paid under
guarantee
65ZG Payments in
respect of guarantees or indemnities
Part 7
Trust money
66 Trust money
67 Establishment of bank accounts for trust
money
68 Investment of
trust money
69 Payment of interest on trust money
70 Unclaimed trust
money
Part 7A
Security and intelligence departments
[Repealed]
70A Interpretation [Repealed]
Appropriations
70B Nature of appropriation
required [Repealed]
70C Estimates [Repealed]
Banking and investment
70D Departmental
Bank Accounts [Repealed]
70E Payment into
Bank Accounts [Repealed]
70F Power of Minister
or Treasury in relation to Crown Bank Account and Departmental Bank
Account [Repealed]
Reporting
70G Annual financial
statements [Repealed]
70H Half-yearly
financial statements [Repealed]
70I Tabling of
financial statements [Repealed]
70J Information
to be provided to Treasury [Repealed]
70K Treasury instructions [Repealed]
Part 8
General provisions
71AA Delegation of Secretary's powers
71 Payments on
behalf of governments and international
organisations
72 Payments on
behalf of local authorities
73 Payment of fines to local authorities and
other organisations that conduct prosecutions
74 Unclaimed money
75 Minister may
exercise powers relating to bona vacantia
76 Offences
77 Penalties for
offences
78 Time for commencing proceedings
79 Information to be provided to Treasury
80 Treasury instructions
80A Minister of
Finance instructions
81 Regulations,
Orders in Council, and notices
82 Consultation
and approval requirements for
regulations or instructions relating to reporting standards
83 Abolition of
certain accounts
84 Registration
of public securities, local
authority stock, and other stock
85 Government stock
in United Kingdom
86 Consequential
amendments
87 Repeals
88 Transitional provisions
Schedule 1
Enactments consequentially amended
Schedule 2
Enactments repealed
Schedule 3
Liabilities, and categories of liabilities,
not included in definition of contingent liability
[Repealed]
Schedule 4
Organisations for the purposes of subpart
2 of Part 5
Schedule 5
Crown entities required to include statements
of service performance in their annual financial statements
[Repealed]
Schedule 6
Crown entities required to prepare statements
of intent
[Repealed]
Schedule 7
Crown entities subject to section 16
[Repealed]
Public Finance Amendment Act 2004
Reprint notes