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FINANCIAL MANAGEMENT REGULATION 2005 (NO 42 OF 2005)
2005
THE LEGISLATIVE ASSEMBLY FOR
THE
AUSTRALIAN CAPITAL
TERRITORY
EXPLANATORY
STATEMENT
Circulated
by the authority of the Treasurer
Ted Quinlan MLA
Financial
Management Regulation 2005
The Financial Management Regulation 2005 will take effect on 1
January 2006. The purpose of the Regulation is to preserve the current
arrangements for Board appointments, elections and joint ventures for the
maximum period until
27 October 2007. The Regulation also provides for the
chief executive officer of the health promotion authority to be a public
servant.
This will allow adequate time to give effect to the new
arrangements in accordance with the newly enacted Financial Management Act
1996.
Financial Implications
The proposed amendments are largely technical in nature, and the
financial implications are considered negligible.
Clauses 1, 2, 3 and 4 are formal requirements. They respectively, refer to
the name of the Regulation, the commencement date of the Regulation, and the
modification by the schedule and the expiry date of the
Regulation.
Schedule 1 inserts two new sections 110A and
110B.
Section 110A specifies that an appointment, a person elected to
office, and ministerial approval to take part in a joint venture that was in
force immediately prior to the amended Act being enacted, be preserved for the
specified period.
Section 110B specifies that the chief executive officer
of the health promotion authority is to be a public servant.