Adelaide Oval Redevelopment and Management Act 2011

SMA must, as soon as practicable after the grant of a sublease under section 5, establish a sinking fund out of which may be paid non‑recurrent expenditures associated with the sublease.

SMA must keep proper accounts of the revenues and expenditures of the sinking fund.

SMA must, before 1 September in each year, report to the Minister—

the amount of money paid into, and out of, the sinking fund during the financial year ending on the preceding 30 June; and

the amount of money proposed to be paid into, and out of, the sinking fund during the current financial year.

As soon as practicable after receipt of the report from SMA, the Treasurer must, after consultation with SMA, approve or determine the amount of money to be paid into the sinking fund during the current financial year (and SMA must comply with any determination of the Treasurer).

The Auditor‑General may at any time and must, at least once in every year, (and without further authorisation) audit the accounts of the sinking fund and examine the matters to be dealt with under subsections (3) and (4).

The Auditor‑General may, for the purpose of subsection (5), exercise any power that the Auditor‑General has in relation to an audit or examination under Part 3 of the Public Finance and Audit Act 1987 (and that Part will apply in relation to the exercise of any such power under this section as if the power were exercised under that Act and as if any reference to a public authority included a reference to SMA).

If an audit or examination by the Auditor‑General under subsection (5) indicates that—

SMA has not complied with a determination of the Treasurer under subsection (4); or

money has been paid out of the sinking fund for a purpose other than non‑recurrent expenditure associated with the lease, the Auditor‑General must prepare a report on the matter and deliver copies of the report to the President of the Legislative Council and the Speaker of the House of Assembly.

When the President of the Legislative Council and the Speaker of the House of Assembly receive a report from the Auditor‑General under this section, the President and the Speaker must—

immediately cause the report to be published; and

lay the report before their respective Houses at the earliest opportunity.

If the President of the Legislative Council or the Speaker of the House of Assembly is absent at the time the Auditor‑General delivers to the Parliament a report under this section, the Clerk of the relevant House will receive the report on behalf of the President or Speaker (as the case may be) (and the report or document will then be taken to have been received by the President or the Speaker).

If a report is received by the President of the Legislative Council or the Speaker of the House of Assembly at a time when Parliament is not sitting, the report will be taken to have been published under subsection (8)(a) at the expiration of 1 clear day after the day of receipt of the report.

A report or document will, when published under subsection (8)(a), be taken for the purposes of any other Act or law to be a report of the Parliament published under the authority of the Legislative Council and the House of Assembly.

In this section—