Content of budget update
23N Content of budget update
S. 23N(1) substituted by No. 43/2004 s. 7(2).
A budget update comprises updated estimated financial statements.
The updated estimated financial statements must—
take into account Government decisions and other circumstances that may have a material effect on them;
state the date on which the updating was undertaken.
S. 23N(3) substituted by No. 43/2004 s. 7(3).
A budget update must be prepared—
on a basis consistent with the current financial policy objectives and strategies statement; and
in the manner and form determined by the Minister, having regard to appropriate financial reporting frameworks.
If particular information required to be included in a budget update is unchanged from information set out in full in the estimated financial statements, the update may instead summarise the information and state that it is unchanged from what was set out in the estimated financial statements.
Pt 5 Div. 4A (Heading and ss 23O–23Q) inserted by No. 21/2024 s. 7.
Division 4A—Gender equality and the budget
S. 23O inserted by No. 21/2024 s. 7.
This Act’s bill:Second reading speech
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