Transitional provision for Financial Legislation Amendment Act 2021
27A Transitional provision for Financial Legislation Amendment Act 2021
In this section —
commencement day means the day on which the Financial Legislation Amendment Act 2021 section 8 comes into operation;
former section 27 means section 27 as in force immediately before commencement day;
relevant payment means a payment made under former section 27 before commencement day that —
had been charged to the Consolidated Account; but
had not been provided for in an Appropriation Act in accordance with former section 27.
On commencement day, the amount of a relevant payment is, by this section, appropriated from the Consolidated Account for the purpose for which the relevant payment was made.
[Section 27A inserted: No. 12 of 2021 s. 8.]
28. Advances, Treasurer may authorise etc.
The Treasurer may authorise advances to be made —
on the terms and conditions determined by the Treasurer —
for the temporary financing of works and services of the State (other than works and services referred to in paragraph (b)); or
to a public authority; or
to the credit of a special purpose account; or
for the purchase of stores;
or
on the terms and conditions determined by the Treasurer for the temporary financing of works and services undertaken —
in conjunction with, or on behalf of, the Commonwealth, another State, a Territory, a local government or other person; or
by the Commonwealth, another State, a Territory, a local government or other person on behalf of the State.
In subsection (1)(a) —
public authority means —
a Minister of the State; or
an agency, authority or instrumentality of the State; or
a local government; or
a body, whether corporate or unincorporate, that is established or continued for a public purpose by or under a written law.
Advances made under subsection (1)(a) in a financial year are —
to be charged in that year to the Treasurer’s Advance Account; and
to be recovered from the persons to whom or which, or on whose behalf, the advances were made.
Advances made under subsection (1)(b) in a financial year are —
to be charged in that year to the Treasurer’s Advance Account; and
to be recovered from the Commonwealth, other State, Territory, local government or other person to, or on whose behalf, the advances were made.
An amount of an advance made under subsection (1)(a) or (b) that is recovered is to be credited to the Treasurer’s Advance Account.
An advance made under this section —
is to be recovered before the end of the financial year for which the advance is authorised under subsection (1); or
is to be subject to a further authorisation under that subsection.
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