Financial Management Act 1995

(1) The Accountable Officer of an Agency is responsible for the financial management of the Agency.

(1A) The Accountable Officer of the Central Holding Authority is responsible for the financial management of the Central Holding Authority.

(a) proper records of all transactions affecting the Agency are kept and that employees under his or her control observe the requirements of this Act, the Regulations and the Treasurer's Directions; and

(b) procedures in the Agency are such as will at all times afford a proper internal control.

(2A) The Accountable Officer of the Central Holding Authority must ensure that:

(a) proper records of all transactions affecting the Central Holding Authority are kept and that the requirements of this Act, the Regulations and the Treasurer's Directions are observed; and

(b) the Central Holding Authority's procedures are such as will at all times afford a proper internal control of the Central Holding Authority.

(3) The Treasurer may, after consultation with the relevant Minister, issue a direction to the Accountable Officer of an Agency in relation to the financial management of the Agency.

(4) An Accountable Officer, and an employee of the Agency, to whom a direction under subsection (3) applies must comply with the direction.

(5) In complying with subsections (1) and (2), the Accountable Officer of the Agency responsible for administering the NHFP Act may rely on records kept under Part 4 of that Act about the NHFP accounts.