Financial Management Act 1994

This section applies to the following bodies—

a corporation within the meaning of the Corporations Act (other than a State owned company within the meaning of the State Owned Enterprises Act 1992) all the shares in which are owned by or on behalf of the State or a statutory authority (whether or not a public statutory authority), whether directly or indirectly; and

a body corporate declared by the Governor in Council under subsection (2) to be a body to which this section applies.

The Governor in Council, by notice published in the Government Gazette, may declare a body corporate to be a body to which this section applies if—

a member, or a member of the governing body, of the body corporate is appointed by the Governor in Council or a Minister; or

the Governor in Council is satisfied that a primary object of the body corporate is to carry out a public function in relation to which it is registered, or holds a licence or other authority granted or issued, under an Act.

The Governor in Council, by notice published in the Government Gazette, must declare a Minister to be the relevant Minister in relation to a body to which this section applies for the purposes of this section.

A body to which this section applies must, as soon as practicable after the end of each financial year, submit to the relevant Minister of that body its annual report, including its audited financial statements, in respect of that financial year.

The relevant Minister must not direct the body to submit its annual report to the relevant Minister on a particular date.

Subject to subsections (6) and (7), the relevant Minister must cause the annual report to be transmitted to each House of the Parliament on or after the next following 15 October and before the earlier of—

the next following 31 October; or

either—

the expiration of the fourth sitting day of that House after the annual report is received by the relevant Minister; or

if the first sitting day of a House of the Parliament after the annual report is received by the relevant Minister is more than 14 days after the date of receipt of the annual report, the expiration of the fourteenth day after the annual report is received by the relevant Minister.

On transmitting a report under subsection (5), the relevant Minister must report to each House of Parliament the date of receipt by the relevant Minister of the report.

If it appears to the relevant Minister from the annual report that the expenses and obligations of the body in respect of the financial year do not exceed $5 000 000, the relevant Minister—

must report to each House of the Parliament the receipt by him or her of the annual report; and

if a member of either House of the Parliament so requests, must cause the annual report to be transmitted to each House of the Parliament before—

the expiration of the fourth sitting day of that House after that request; or

if the first sitting day of a House of the Parliament after that request is more than 14 days after the date of the request, the expiration of the fourteenth day after that request.

The clerk of each House of the Parliament must cause a report transmitted under subsection (5) or (6) to be laid before the House on the day on which it is received or on the next sitting day of the House.

If the relevant Minister proposes to transmit a report to the Parliament on a day on which neither House of the Parliament is sitting, the relevant Minister must—

give at least one business day's notice of the relevant Minister's intention to do so to the clerk of each House of the Parliament; and

give the report to the clerk of each House on the day indicated in the notice.

The clerk of each House must—

notify each member of the House of the receipt of a notice under subsection (6B)(a) on the same day that the clerk receives that notice; and

give a copy of the report to each member of the House as soon as practicable after the report is received under subsection (6B)(b); and

cause the report to be laid before the House on the next sitting day of the House.

A copy of a report that is given to the clerks under subsection (6B)(b) is taken to have been published by order, or under the authority, of the Houses of Parliament.

The publication of a document by the relevant Minister under subsection (6B)(b) is absolutely privileged and the provisions of sections 73 and 74 of the Constitution Act 1975 and any other enactment or rule of law relating to the publication of the proceedings of the Parliament apply to and in relation to the publication of the document as if it were a document to which those sections applied and had been published by the Government Printer under the authority of the Parliament.

If the relevant Minister has not received the annual report in time for him or her to comply with subsection (5), the relevant Minister—

must cause that fact and the reasons for it to be reported to each House of the Parliament; and

must cause the annual report to be laid before each House of the Parliament as soon as practicable after it is received by him or her.