PURSUANT to the Tokelau Islands Act 1948, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, hereby makes the following regulations.

1 Title and commencement

(1) These regulations may be cited as the Tokelau Islands Finance Regulations 1967.

(2) These regulations shall come into force on the 1st day of April 1967.

2 Interpretation

In these regulations, unless the context otherwise requires,—

Administrator means the Administrator of the Tokelau Islands

Estimates means the statement of estimated receipts and payments of the Tokelau Administration Account during any financial year or period as recommended by the Administrator and approved by the Minister; and includes any further statements prepared in the form of supplementary estimates relating to that year

Financial year means a period of 12 months ending with the 31st day of March

Minister means the Minister of Island Territories

Public money means money, or securities of any kind for the payment of money, received for or on account of, or payable to, or belonging to, or deposited with, the Administrator or any Department or agency of the Administrator; and includes public securities

Public securities means securities representing the investment of public money.

3 Tokelau Islands Administration Account

Public money kept in New Zealand shall be kept at the Reserve Bank of New Zealand at Wellington, or with such agents of that Bank as the Secretary of Island Territories from time to time directs, to the credit of an account to be known as the Tokelau Islands Administration Account.

4 Tokelau Islands General Account

The Administrator shall establish a general account in the Bank of Western Samoa at Apia, Western Samoa, to be known as the Tokelau Islands General Account.

5 Crediting of money

(1) Revenue collected by or on behalf of the Administrator shall, in the case of revenue collected in New Zealand, be lodged to the credit of the Tokelau Islands Administration Account and, in the case of revenue collected outside New Zealand, be lodged to the credit of the Tokelau Islands General Account.

(2) The collection, receipt, custody, banking, issue, expenditure, care, and management of money credited or to be credited to the Tokelau Islands General Account shall, where not provided in these regulations, be in accordance with such instructions as may be issued from time to time by the Administrator.

5A Miscellaneous accounts

(1) Notwithstanding anything in regulation 3 or regulation 4 of these regulations, the Administrator may from time to time authorise the keeping, in the name of the Tokelau Administration, of any account at the Reserve Bank of New Zealand at Wellington or at any agency of that Bank or at the Bank of Western Samoa at Apia, Western Samoa, or at any agency of that Bank, in addition to other accounts controlled by the Tokelau Administration under the authority of any enactment.

(2) The Administrator shall specify the purpose or purposes for which any account kept pursuant to subclause (1) of this regulation may be used, and shall issue instructions governing the receipt, disbursement, and manner of accounting for funds held in any such account.

Regulation 5A was inserted, as from 18 April 1973, by regulation 2 Tokelau Islands Finance Regulations 1967, Amendment No 2 (SR 1973/115).

6 Transfer of funds

(1) The Administrator may from time to time authorise the transfer of funds between any accounts controlled by the Tokelau Administration under the authority of any enactment.

(2) Money appropriated by Parliament from the Public Account of New Zealand by way of subsidy or grant to the Tokelau Islands shall be paid into the Tokelau Islands Administration Account by the Minister of Finance.

Regulation 6(1) was substituted, as from 18 April 1973, by regulation 3 Tokelau Islands Finance Regulations 1967, Amendment No 2 (SR 1973/115).

6A Investment of money

Any money belonging to the Tokelau Administration and available for investment, including any money for the time being at credit in any special fund or reserve account, may be invested by the Secretary of Foreign Affairs and Trade, on behalf of the Administrator, in—
- (a) New Zealand Government securities as defined in section 2 of the New Zealand Loans Act 1953; or
- (b) The National Provident Fund; or
- (c) Any other securities or class of securities (being securities in which trust funds may be invested pursuant to section 4 of the Trustee Act 1956) that may from time to time be authorised by the Minister of Foreign Affairs with the concurrence of the Minister of Finance.
Regulation 6A was inserted, as from 10 December 1970, by regulation 2 Tokelau Islands Finance Regulations 1967, Amendment No 1 (SR 1970/252).

Refer to section 2(3) Tokelau Amendment Act 1974 (1974 No 124) as from 9 November 1974 as to every reference to the “Minister of Island Affairs” to now be read as a reference to the “Minister of Foreign Affairs”.

Refer to section 14(1) Foreign Affairs Act 1988 (1988 No 159) from 1 December 1988 of and section 6(1) Foreign Affairs Amendment Act 1993 (1993 No 48) as to every reference to the “Secretary for Maori and Island Affairs” to now be read as a reference to the “Secretary of Foreign Affairs and Trade”.

7 Signing of cheques

(1) Cheques on the Tokelau General Account shall be signed by the Administrator or by an officer authorised by him.

(2) Cheques on the Tokelau Islands Administration Account at the Reserve Bank of New Zealand shall be signed by the Accountant, Department of Island Territories, or other officer appointed by the Secretary for Island Territories to act in that capacity for the purpose of these regulations.

Regulation 7(1) was amended as from 18 April 1973, by regulation 4 Tokelau Islands Finance Regulations 1967, Amendment No 2 (SR 1973/115) by omitting the words “and shall be countersigned by some other officer authorised by the Administrator”.

8 Imprest Accounts

(1) Advances by way of imprest within the Tokelau Islands may be made to such officers and for such purposes as may be approved by the Administrator. The Administrator shall direct the manner in which an imprestee is to account for the money under his control.

(2) Advances by way of imprest within New Zealand may be made to such officers and for such purposes as may be approved by the Secretary of Island Territories, who shall direct the manner in which an imprestee is to account for money under his control.

9 Statement to be submitted to Minister

The Administrator shall each year submit to the Minister by such date as the Minister specifies a detailed statement of estimated receipts and payments for the next financial year.

10 Estimates of expenditure

(1) All expenditure in any financial year shall be in accordance with the estimates of expenditure approved by the Minister.

(2) Where subsidies, either special or general, are required to be granted by Parliament to cover the payments proposed in the estimates for any year or period, the approval of the Minister shall be deemed to be conditional on those subsidies being subsequently appropriated in the manner required by the Public Revenues Act 1953.

(3) Where subsidies to the required amount are not subsequently appropriated, the Administrator shall forthwith submit to the Minister revised estimates for the financial year or period, taking into account the reduced amount of funds actually available to the Tokelau Islands Administration.

(4) Where the Administrator considers it desirable that money should be expended in excess of the amount approved in the estimates, the approval of the Minister or such officer as the Minister authorises shall be obtained before that excess expenditure is incurred or committed.

11 Approval of expenditure

All expenditure of public money shall be approved by the Administrator or by an officer appointed in that behalf by the Minister:

Provided that, where an officer is authorised to certify and approve claims, he shall not exercise both authorities in respect of the same claim.

12 Power of Administrator to authorise expenditure

(1) Subject to appropriate provision being included in the approved estimates, the Administrator may, without further authority,—
- (a) Authorise all expenditure of a routine or recurring nature, and
- (b) Authorise any expenditure of a capital nature where the estimated cost does not exceed $45,000.
(2) Where the total estimated cost of any proposed capital work or purchase exceeds $45,000 (irrespective of whether the whole cost will be met in any one year), the Administrator shall obtain the approval of the Minister before any commitment to expend money is entered into.

(3) Notwithstanding the foregoing provisions of this regulation, the Administrator may, without further authority, authorise unforeseen expenditure up to a limit of $15,000 in any year.

Regulation 12 was amended, as from 4 March 1977, by regulation 2(2) Tokelau Finance Regulations 1967, Amendment No 3 (SR 1977/31) by adding subclause 3.

Regulation 12 was amended, as from 30 September 1982, by regulation 2(1) Tokelau Finance Regulations 1967, Amendment No 4 (SR 1982/206) by substituting the expression “$45,000” for the expression “$30,000” whenever it occurred

Regulation 12(3) was amended, as from 30 September 1982, by regulation 2(2) Tokelau Finance Regulations 1967, Amendment No 4 (SR 1982/206) by substituting the expression “$15,000” for the expression “$10,000”.

13 Accounts and statements

(1) As soon as possible after the close of each financial year, the Administrator shall furnish such accounts and statements in respect of that year as the Minister directs.

(2) Where activities or services are of a commercial nature, separate Income and Expenditure Accounts and Balance Sheets shall, as far as practicable, be prepared and submitted.

14 Audit of accounts

The Audit Office of New Zealand shall be the Auditor of the Tokelau Islands Administration Account and of such other funds and accounts as may be prescribed by any enactment.

15 Annual accounts

The annual accounts prepared in accordance with regulation 13 of these regulations shall forthwith be submitted to the Minister and the Audit Office.

T J SHERRARD,

Clerk of the Executive Council.

Explanatory note

This note is not part of the regulations, but is intended to indicate their general effect.

These regulations prescribe the procedure for the receipt, custody, banking, expenditure, care, and management of money credited to the Tokelau Islands General Account and the Tokelau Islands Administration Account.

Issued under the authority of the Regulations Act 1936.

Date of notification in Gazette: 16 March 1967.

1General
2About this eprint
3List of amendments incorporated in this eprint (most recent first)

Notes

1 General

This is an eprint of the Tokelau Islands Finance Regulations 1967. It incorporates all the amendments to the Tokelau Islands Finance Regulations 1967 as at 20 September 2007. The list of amendments at the end of these notes specifies all the amendments incorporated into this eprint since 3 September 2007. Relevant provisions of any amending enactments that contain transitional, savings, or application provisions are also included, after the Principal enactment, in chronological order.

2 About this eprint

This eprint has not been officialised. For more information about officialisation, please see "Making online legislation official" under "Status of legislation on this site" in the About section of this website.

3 List of amendments incorporated in this eprint
(most recent first)

Tokelau Amendment Act 2007 (2007 No 84): section 9(2)

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Tokelau Islands Finance Regulations 1967