Financial Management and Audit Amendment Act 2006

Financial Management and Audit Amendment Act 2006

An Act to amend the Financial Management and Audit Act 1990

Be it enacted by His Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows:

1.   Short title

This Act may be cited as the Financial Management and Audit Amendment Act 2006 .

2.   Commencement

This Act commences on the day on which this Act receives the Royal Assent.

3.   Principal Act

In this Act, the Financial Management and Audit Act 1990 is referred to as the Principal Act.

4.    Section 3 amended (Interpretation)

Section 3 of the Principal Act is amended by inserting after the definition of State authority the following definition:

State-owned company means a company incorporated under the Corporations Act which is controlled by –

(a) the Crown; or

(b) a State authority; or

(c) another company which is itself controlled by the Crown or a State authority;

5.    Section 44 amended (Power of Auditor-General to investigate)

Section 44(b) of the Principal Act is amended as follows:

(a) by inserting "State-owned companies," after "effectiveness of Government departments,";

(b) by inserting ", State-owned companies" after "parts of Government departments".

[Second reading presentation speech made in:

House of Assembly on 11 JULY 2006

Legislative Council on 13 JULY 2006]