Title [Repealed]
1 Short Title and commencement
1A Purpose
2 Interpretation
3 Act to bind Crown
3AA Meaning of generally accepted accounting practice [Repealed]
3A Power to amend Schedule 4
3B Power to amend Schedule 5 to reflect name changes
3C Power to amend Schedule 5 to restore company to State-Owned Enterprises Act 1986
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9A Supplementary Estimates [Repealed]
9B Power of Secretary to obtain information [Repealed]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 5A
Mixed ownership model companies
Preliminary provisions
45P Definitions of mixed ownership model company and other terms
45Q Treaty of Waitangi (Te Tiriti o Waitangi)
51% Crown control
45R Restriction on reduction of the Crown's holding below 51% control
10% limit
45S 10% limit on holdings by persons other than the Crown
45T Effect of exceeding 10% limit
45U Exemption from 10% limit for trustee corporations and nominee companies, etc
45V Power of FMA to remove exemption from 10% limit for trustee corporations, nominee companies, etc
Continuing application of certain provisions
45W Certain provisions of State-Owned Enterprises Act 1986 and other enactments continue to apply
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
Mixed ownership model companies
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