Financial Accountability Act 2009

This section applies in relation to a department’s special purpose accounts.

The accountable officer of the department must establish the accounts necessary for administering the special purpose accounts (the special purpose financial institution accounts), and conduct banking arrangements for the special purpose accounts, with the financial institutions approved by the Treasurer.

An amount may be paid from the special purpose financial institution accounts only if the payment is authorised under the Act that requires the keeping of the special purpose accounts.

To remove any doubt, it is declared that special purpose financial institution accounts are not departmental financial institution accounts.