Summary
Amends the:
Auditor-General Act 1997
to clarify that the Auditor-General may accept an appointment under the
Corporations Act 2001
as an auditor of any Commonwealth controlled company;
Commonwealth Authorities and Companies Act 1997
to: ensure that directors of Commonwealth authorities and wholly-owned Commonwealth companies prepare Budget estimates as directed by the Finance Minister; and ensure that directors of Commonwealth authorities and wholly-owned Commonwealth companies notify the responsible minister of decisions to undertake certain significant events;
Financial Framework Legislation Amendment Act 2010
to make technical amendments; and
Financial Management and Accountability Act 1997
to: enable the Finance Minister to clarify the day on which a special account determination commences; focus the operation of drawing rights on payments and remove the penalty relating to drawing rights; enable the Finance Minister, on behalf of the Commonwealth, to exercise a discretion to ‘set-off’ amounts owed to the Commonwealth with amounts payable to the Commonwealth; and provide that the Finance Minister cannot delegate certain powers or functions. Also repeals the
Appropriation (Development Bank) Act 1975
and
Car Dealership Financing Guarantee Appropriation Act 2009
.