Financial Management Act 2006

After receiving draft annual estimates submitted by an accountable authority under section 40(1), the Minister must, within the period of 1 month after the submission date for the draft annual estimates or such other period as is specified in a determination under subsection (2), either —

approve the draft annual estimates; or

present the accountable authority of the agency with annual estimates of the financial operations of the agency for the financial year to which the draft annual estimates relate, and direct that they are to be the annual estimates of the financial operations of the agency for the financial year.

The Treasurer may, in writing, determine the period that applies for the purposes of subsection (1) in a particular case.

When the Minister approves draft annual estimates under subsection (1)(a), or gives a direction under subsection (1)(b) in relation to annual estimates, they become the annual estimates of the financial operations of the agency to which they relate for the whole of the financial year to which they relate.

Subsection (3) has effect even if the approval or direction was given after the start of the financial year.

The accountable authority of an agency must make the annual estimates of the financial operations of the agency for a financial year available to the public —

as soon as is practicable after they become the annual estimates of the financial operations of the agency for the financial year; and

in the manner prescribed by the Treasurer’s instructions.