Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698842615475.pdf (New Zealand)
Reprint as at 1 November 2007 Public Finance Act 1989 Public Act Date of assent 1989 No 44 26 July 1989 Contents Title Short Title and commencement Purpose Interpretation Act to bind Crown Power to amend Schedule 4 1 1A 2 3 3A 3AA Meaning of generally accepted accounting practice [Repealed] Part 1 Appropriations Requirement for appropriations 4 Expenses or capital expenditure must not be incurred unless in accordance with appropriation or statutory authority Page 12 12 12 13 27 28 29 29 Note Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this eprint.
A general outline of these changes is set out in the notes at the end of this eprint, together with other explanatory material about this eprint.

This Act is administered in the Treasury.
1 Public Finance Act 1989 Reprinted as at 1 November 2007 9A 26 26A Public money must not be spent unless in accordance with statutory authority Authority to spend public money Separate appropriation required for types of expenses and capital expenditure Appropriation limited by amount Appropriation limited by scope Supplementary Estimates [Repealed] Appropriation limited by period Expenses or payments authorised other than by Appropriation Act Timing of ﬁrst Appropriation Bill for ﬁnancial year Information requirements for appropriations Estimates and other supporting information must be presented with ﬁrst Appropriation Bill Content of Estimates Other supporting information for ﬁrst Appropriation Bill Supplementary Estimates must be presented with Supplementary Appropriation Bill Content of Supplementary Estimates Minister must consult on proposal to change format or content of information presented with Appropriation Bills Power of Secretary to obtain information Other provisions relating to appropriations Departments may incur output expenses for, or on behalf of, other departments Expenses restricted by revenue Operating surplus of department Net assets of departments must be conﬁrmed Movements within departmental statement of ﬁnancial position Expenses or capital expenditure may be incurred in emergencies Minister may determine terms and conditions of capital injections Transfer of resources between output expense appropriations 26B Minister may
 approve expenses or capital expenditure to be incurred in excess of existing appropriation 30 31 31 32 33 34 34 35 35 36 36 37 39 39 40 40 41 41 42 42 43 44 45 45 46 2 Reprinted as at 1 November 2007 Public Finance Act 1989 26C 26D Expenses or capital expenditure incurred without appropriation or other authority requires validation by Parliament Reporting requirements in relation to expenses or capital expenditure incurred in excess of, or without, appropriation Application of this Part to Ofﬁces of
 Parliament 26E Application of this Part to Ofﬁces of Parliament Part 2 Fiscal responsibility Preliminary 26F 26G 26H 26I 26J 26K 26L Interpretation Principles of responsible ﬁscal management Generally accepted accounting practice Fiscal strategy report Fiscal strategy report Contents of ﬁscal strategy report: long­term objectives Contents of ﬁscal strategy report: short­term intentions Contents of ﬁscal strategy report: other matters Budget policy statement 26M Budget policy statement Statement on long­term ﬁscal position 26N Statement on long­term ﬁscal position Economic and ﬁscal updates Economic and ﬁscal update Economic forecasts Fiscal forecasts Annual statement of tax policy changes Half­year economic and ﬁscal update Pre­election economic and ﬁscal update Disclosure requirements for economic and ﬁscal updates Disclosure of policy decisions and other circumstances that may inﬂuence future ﬁscal situation Limits on disclosure requirements 26O 26P 26Q 26R 26S 26T 26U 26V 26W Requirements for statement of responsibility Statement of responsibility 46 47 47 49 49 50 50 50 51 53 54 55 55 56 56 58 59 59 61 61 62 3 Public Finance Act 1989 Reprinted as at 1 November 2007 26X 26Y 26Z 27 28 29 29A 29B 30 31 Miscellaneous Certain statements and updates may be published in advance of presentation to House of Representatives Notiﬁcation and availability of reports, statements, or updates Power of Secretary to obtain information Part 3 Reporting by Government reporting entity
 Annual ﬁnancial statements of Government Half­year ﬁnancial statements of the Crown [Repealed] Responsibility for annual ﬁnancial statements of Government Power of Secretary to obtain information Auditor­General to be auditor of Government reporting entity Audit report Annual ﬁnancial statements must be presented to House of Representatives 31A Monthly ﬁnancial statements of Government 31B Publication, inspection, and purchase of ﬁnancial statements of Government reporting entity Monthly cash ﬂow statements
 [Repealed] Additional reports in relation to non­departmental appropriations 32 32A Part 4 Reporting by departments 33 Interpretation Responsibilities of chief executives Responsibilities of departmental chief executives: ﬁnancial management Forecast ﬁnancial statements of departments [Repealed] Responsibilities of departmental chief executives: reporting Departmental chief executives not responsible for ﬁnancial performance of other entities Power of chief executives to obtain information Power of departmental chief executives to obtain information 34 34A 35 36 37 4 64 64 65 66 67 68 69 70 70 71 71 73 74 74 75 76 76 76 77 78 Reprinted as at 1 November 2007 Public Finance Act 1989 Reporting requirements—information on future operating intentions Departments must provide information on future operating intentions Obligation to present and publish information on future operating intentions Requirements for information on future operating intentions Extra information required for ﬁrst ﬁnancial year Special provisions in relation to annual ﬁnancial statements of school Board of Trustees [Repealed] Special provisions in relation to annual ﬁnancial statements of Boards under Reserves Act 1977 [Repealed] Draft statement of intent [Repealed] Contents of statement of intent [Repealed] Completed statement of intent [Repealed] Laying of statement of intent before House of Representatives [Repealed] Power of Responsible Minister to require Crown entity to modify statement of
 intent [Repealed] Power of Crown entity to modify statement of intent [Repealed] Annual report of Crown entities named or described in Schedule 6 [Repealed] Information on future operating intentions must include statement of responsibility Reporting requirements—annual reports Departments must prepare annual reports Obligation to present and publish departmental annual reports Laying before House of Representatives of ﬁnancial statements of Crown entities (other than school Boards of Trustees and Reserves
 Boards) [Repealed] Annual report in relation to schools’ sector [Repealed] Annual ﬁnancial statements of school Boards of Trustees [Repealed] Annual ﬁnancial statements of Reserves Boards [Repealed] Contents of departmental annual report Statement of service performance Annual ﬁnancial statements 38 39 40 41 41A 41B 41C 41D 41E 41F 41G 41H 41I 42 43 44 44A 44B 44C 44D 45 45A 45B 79 80 81 82 83 83 83 84 84 84 85 85 85 85 86 87 87 88 88 88 88 89 90 5 Public Finance Act 1989 Reprinted as at 1 November 2007 45C 45D Statement of responsibility Audit report Miscellaneous 45E 45F 45G Application of this Part to intelligence and security departments Application of this Part to Ofﬁces of Parliament This Part modiﬁed for purpose of applying Part to Ofﬁces of Parliament Part 5 Special reporting requirements Subpart 1—Special annual reporting requirements Application of subpart First annual report for newly established entities Final annual report for disestablished entities Timing of special annual reports, etc 45H 45I 45J 45K 45L Minister may allow certain information to be included in another entity’s annual report if operations transferred Subpart 2—Application of provisions of Crown Entities Act 2004 to organisations named or described in Schedule 4 45M Provisions of Crown Entities Act 2004 that apply to all Schedule 4 organisations Some provisions of Crown Entities Act 2004 applied to some Schedule 4 organisations Special provisions relating to Reserves Boards 45N 45O Part
 6 Borrowing, securities, derivative transactions, investment, banking, and guarantees Subpart 1—Borrowing Limits on borrowing by the Crown The Crown must not borrow except under statute Minister may borrow on behalf of the Crown if in public interest Power to borrow must not be delegated The Crown not liable for debts of Crown entities, etc Appointment of borrowing agents Minister may appoint agents for purpose of borrowing money 46 47 48 49 50 6 91 91 92 93 94 95 96 96 97 98 99 99 100 101 101 102 102 103
 Reprinted as at 1 November 2007 Public Finance Act 1989 51 52 52A 53 54 55 56 57 58 58A 59 60 61 62 63 64 Appointment of borrowing agents does not prevent exercise of power by Minister Borrowings must be taken to be lawful Crown not to issue securities except under statute [Repealed] Borrowing agents may delegate powers Terms and conditions of borrowing Minister may determine terms and conditions of borrowing Charge on public revenues Power to borrow by issue of series of similar securities Power to vary borrowings of the Crown Conversion of money borrowed by the Crown Authority for the giving by the Crown of guarantees and indemnities [Repealed] Minister may appoint underwriters, managers, etc, for borrowings of the Crown Payments relating to borrowings Payment of principal and interest on money borrowed by the Crown Expenses in respect of money borrowed by the Crown Subpart 2—Securities Limits on the Crown issuing securities The Crown must not issue securities except under statute Minister may issue securities for money borrowed by the Crown Issue or variation of security taken to be lawful Terms and conditions of securities 65 65A 65B 65C Securities must be in name of Sovereign Power to vary public securities Issue of new public security on loss, damage, or destruction of public security Execution of securities Payments relating to securities 65D 65E Payments under public securities Expenses in respect of securities 104 104 104 104 105 105 105 106 106 107 107
 108 109 110 110 110 111 111 112 112 113 113 7 Public Finance Act 1989 Reprinted as at 1 November 2007 Subpart 3—Derivative transactions Limits on the Crown entering into derivative transactions The Crown must not enter into derivative transactions 65F 65G Minister may enter into derivative transactions if in public 114 114 interest Payments relating to derivative transactions 65H Payments relating to derivative transactions of the Crown 114 Subpart 4—Investment Investment of public money 65I 65J Investment
 of public money Payment of expenses relating to investment Limits on lending by the Crown The Crown must not lend money except under statute 65K 65L Minister may lend money to persons or organisations if in public interest 65M Minister may lend money to foreign government 65N Authority to lend money includes authority to defer payments Repayment of money lent by the Crown Appropriation required for lending Securities relating to lending must be in name of Sovereign 65O 65P 65Q Subpart 5—Banking Crown Bank Accounts 65R Crown Bank Accounts 65S 65T 65U 65V Departmental Bank Accounts Departmental Bank Accounts Directions relating to operation of Departmental Bank Accounts General Payment into Bank Accounts Requirements for payment of money out of Bank Accounts 115 115 116 116 117 117 117 117 118 118 118 119 119 120 65W Powers of Minister or Treasury in relation to Crown Bank 120 Account and Departmental Bank Account 8 Reprinted as at 1 November 2007 Public Finance Act 1989 65X 65Y 65Z Statement of accounts must be sent to Treasury or Auditor­General Treasury must report on all expenses and capital expenditure incurred with or without appropriation or other statutory authority Auditor­General may direct Ministers to report to House of Representatives in cases involving unlawful expenses, etc 65ZA Auditor­General may stop payments out of Bank Accounts 65ZB Application of this subpart to Ofﬁces of Parliament Subpart 6—Guarantees and indemnities Limits on giving by the
 Crown of guarantees and indemnities 65ZC Guarantee or indemnity by the Crown must not be given except under statute 65ZD Minister may give guarantee or indemnity if in public interest 65ZE Departments may give guarantee or indemnity speciﬁed in regulations if in public interest Other provisions relating to guarantees and indemnities 65ZF Recovery of money paid under guarantee 65ZG Payments in respect of guarantees or indemnities Part 7 Trust money 66 67 68 69 70 Trust money Establishment of bank accounts for
 trust money Investment of trust money Payment of interest on trust money Unclaimed trust money Part 7A Security and intelligence departments [Repealed] 70A Interpretation [Repealed] Appropriations [Repealed] 70B 70C Nature of appropriation required [Repealed] Estimates [Repealed] 121 122 122 124 124 125 125 126 127 127 128 128 129 129 130 130 130 131 9 Public Finance Act 1989 Reprinted as at 1 November 2007 Banking and investment [Repealed] Departmental Bank Accounts [Repealed] Payment into Bank Accounts [Repealed] Power of Minister or Treasury in relation to Crown Bank Account and Departmental Bank Account [Repealed] Reporting [Repealed] Annual ﬁnancial statements [Repealed] Half­yearly ﬁnancial statements [Repealed] Tabling of ﬁnancial statements [Repealed] Information to be provided to Treasury [Repealed] Treasury instructions [Repealed] 70D 70E 70F 70G 70H 70I 70J 70K Part 8 General provisions 72 73 71AA Delegation of Secretary’s powers 71 Payments on behalf of governments and international organisations Payments on behalf of local authorities Payment of ﬁnes to local authorities and other organisations that conduct prosecutions Unclaimed money Minister may exercise powers relating to bona vacantia Offences Penalties for offences Time for commencing proceedings Information to be provided to Treasury Treasury instructions 74 75 76 77 78 79 80 80A Minister of Finance instructions 81 82 Regulations, Orders in Council, and notices Consultation and approval
 requirements for regulations or instructions relating to reporting standards Abolition of certain accounts Registration of public securities, local authority stock, and other stock Government stock in United Kingdom Consequential amendments Repeals Transitional provisions Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 1 Enactments consequentially amended Schedule
 2 Enactments repealed Schedule 3 Liabilities, and categories of liabilities, not included in deﬁnition of contingent liability [Repealed] Schedule 4 Organisations for the purposes of subpart 2 of Part 5 Schedule 5 Crown entities required to include statements of service performance in their annual ﬁnancial statements [Repealed] Schedule 6 Crown entities required to prepare statements of intent [Repealed] Schedule 7 Crown entities subject to section 16 [Repealed] 149 177 178 178 189 194 199 An Act to amend the law governing the use of public ﬁnancial resources and to that end to— (a) Provide a framework for Parliamentary scrutiny of the Government’s management of the Crown’s assets and liabilities, including expenditure proposals; and Establish lines of responsibility for the use of public ﬁnancial resources; and Establish ﬁnancial management incentives to encourage effective and efﬁcient use of ﬁnancial resources in departments and Crown entities; and Specify the minimum ﬁnancial reporting obligations of the Crown, departments, and Crown entities; and Safeguard public assets by providing statutory authority and control for the raising of loans, issuing of securities, giving of guarantees, operation of bank accounts, and investment of funds (b) (c) (d) (e) 11 s 1 Public Finance Act 1989 Reprinted as at 1 November 2007 In the Long Title paragraphs (c) and (d) were amended, as from 21 December 1992, by section 2 Public Finance Amendment Act 1992 (1992 No 142) by substituting in both paragraphs the words “Crown entities” for the words “Crown agencies”.
BE IT ENACTED by the Parliament of New Zealand as follows: 1 (1) (2) (3) (3A) (4) Short Title and commencement This Act may be cited as the Public Finance Act 1989.

Except as provided in this section, this Act shall be deemed to have come into force on the 1st day of July 1989.

The amendment to section 19 of the Goods and Services Tax Act 1985 speciﬁed in Schedule 1 to this Act shall come into force on the day this Act receives the Royal assent.
(5) Where any document is made or thing is done, pursuant to the Public Finance Act 1977, during the period commencing on the 1st day of July 1989 and ending with the day before the day on which this Act receives the Royal assent, such document or thing, if capable of being made or done under the provisions of this Act, shall be deemed to have been made or done pursuant to the provisions of this Act.
Subsections (2) and (3) were substituted, and subsection (3A) inserted, as from 5 March 1991, by section 2 Public Finance Amendment Act 1991 (1991 No 6).

Subsections (3) and (3A) were repealed, as from 1 July 1994, by section 2 Public Finance Amendment Act 1994 (1994 No 18).

1A Purpose (1) The purpose of this Act is to consolidate and amend the law governing the use of public ﬁnancial resources.
To that end, this Act— (a) provides a framework for parliamentary scrutiny of— (i) (ii) the Government’s expenditure proposals; and the Government’s management of its assets and liabilities; and (b) (c) establishes lines of responsibility for effective and efﬁ­ cient management of public ﬁnancial resources; and speciﬁes the principles for responsible ﬁscal manage­ ment in the conduct of ﬁscal policy and requires regular (2) 12 Reprinted as at 1 November 2007 Public Finance Act 1989 s 2 (d) (e) (f) reporting on the extent to which the Government’s ﬁs­ cal policy is consistent with those principles; and speciﬁes the minimum ﬁnancial and non­ﬁnancial re­ porting obligations of Ministers, departments, Ofﬁces of Parliament, and organisations named or described in Schedule 4; and provides for the application of ﬁnancial management incentives and for the accountability of organisations named or described in Schedule 4; and safeguards public assets by providing statutory author­ ity and control for the— (i) (ii) (iii) (iv) (v) (vi) borrowing of money; and issuing of securities; and use of derivative transactions; and investment of funds; and operation of bank accounts; and giving of guarantees and indemnities.
Section 1A was inserted, as from 25 January 2005, by section 4 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

2 (1) Interpretation In this Act, unless the context otherwise requires,— Annual ﬁnancial statements of the Crown[Repealed] Annual ﬁnancial statements of the Crown: this deﬁnition was amended, as from 21 December 1992, by section 3(1) Public Finance Amendment Act 1992 (1992 No 142), by omitting the word “consolidated”.
Annual ﬁnancial statements of the Crown: this deﬁnition was repealed, as from 25 January 2005, by section 5(1) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
[Repealed] annual ﬁnancial statements of the Government means the annual consolidated ﬁnancial statements for the Government reporting entity prepared under section 27 annual ﬁnancial statements of the Government: this deﬁnition was inserted, as from 25 January 2005, by section 5(1) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
13 s 2 Public Finance Act 1989 Reprinted as at 1 November 2007 asset means an asset that is deﬁned, recognised, and measured in accordance with generally accepted accounting practice asset: this deﬁnition was inserted, as from 25 January 2005, by section 5(1) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Audit Ofﬁce[Repealed] Audit Ofﬁce: this deﬁnition was amended, as from 1 July 2001, by section 53 Public Audit Act 2001 (2001 No 10) by substituting the words “means the Controller and Auditor­General” for the words “has the same meaning as in section 14 of the Public Finance Act 1977”.

Audit Ofﬁce: this deﬁnition was repealed, as from 25 January 2005, by section 5(1) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
[Repealed] Auditor­General has the meaning given to it by section 4 of the Public Audit Act 2001. this deﬁnition was inserted, as from 25 January 2005, by Auditor­General: section 5(1) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Bank, in relation to a bank operating within New Zealand, means the Reserve Bank of New Zealand or a registered bank under the Reserve Bank of New Zealand Act 1989 Bank: this deﬁnition in the original section 2 was amended by substituting the “Reserve Bank of New Zealand Act 1989” for the repealed “Reserve Bank of New Zealand Act 1964”.
Beneﬁt means an amount of public money provided by the Crown for the beneﬁt of some person borrow money— includes— (a) (i) entering into hire purchase agreements or agreements that are of the same or a substantially similar nature; and arrangements entering or arrangements that are of the same or a substantially similar nature; and accepting debt on assignment persons; but into ﬁnance from other lease (ii) (iii) (b) does not include the purchase of goods or services on credit, or the obtaining of an advance, through the use of a credit card or by a supplier supplying credit for the purchase of goods or services, for a period of 90 days 14 Reprinted as at 1 November 2007 Public Finance Act 1989 s 2 or less from the date the credit card is used or the credit is supplied.
borrow money: this deﬁnition was inserted, as from 25 January 2005, by section 5(2) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Borrowing expenses means any interest or other ﬁnancing expenses in respect of any loan or under any public security Borrowing expenses: this deﬁnition was amended as from 12 December 2000, by section 3 Public Finance Amendment Act 2000 (2000 No 78), by omitting the words “, including any guarantee or indemnity given under any Act”.

Budget means the Minister’s statement in moving the second reading of the ﬁrst Appropriation Bill for a ﬁnancial year.
this deﬁnition was inserted, as from 25 January 2005, by section Budget: 5(3) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

Capital contribution[Repealed] Capital contribution: this deﬁnition was repealed, as from 25 January 2005, by section 5(4) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
[Repealed] capital expenditure means the costs of assets acquired or developed (including tangible, intangible, or ﬁnancial assets and any ownership interest in entities, but excluding inventories) capital expenditure: this deﬁnition was inserted, as from 25 January 2005, by section 5(4) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

carrying amount has the meaning given to it under generally accepted accounting practice.
carrying amount: this deﬁnition was inserted, as from 25 January 2005, by section 5(4) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Chief Executive means,— (a) In the case of a department, the head of the department and includes a Chief Executive appointed under the State Sector Act 1988: In the case of a Crown entity, the chief executive ofﬁcer of the Crown entity: In the case of an Ofﬁce of Parliament, the head of the Ofﬁce concerned: (b) (c) 15 s 2 Public Finance Act 1989 Reprinted as at 1 November 2007 Chief executive: paragraph (b) of this deﬁnition in the original section 2 was substituted, as from 21 December 1992, by section 3(2) Public Finance Amendment Act 1992 (1992 No 142).
Class of outputs or class means a grouping of similar outputs Commitment means future expenses and liabilities to be incurred on contracts that have been entered into at balance date Company means a company within the meaning of the Companies Act 1955, or the Companies Act 1993, as the case may be Company: this deﬁnition was inserted, as from 21 December 1992, by section 3(3) Public Finance Amendment Act 1992 (1992 No 142).
Contingent liability[Repealed] Contingent liability: this deﬁnition was substituted, as from 21 December 1992, by section 3(3) and (4) Public Finance Amendment Act 1992 (1992 No 142).

Contingent liability: this deﬁnition was repealed, as from 25 January 2005, by section 5(5) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
[Repealed] Cost[Repealed] Cost: this deﬁnition was repealed, as from 25 January 2005, by section 5(5) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
[Repealed] Crown or the Sovereign— (a) Means the Sovereign in right of New Zealand; and (b) Includes all Ministers of the Crown and all departments; but Does not include— (i) (ii) A Crown entity; or (iii) A State enterprise named in Schedule 1 to the An Ofﬁce of Parliament; or (c) State­Owned Enterprises Act 1986: Crown or Her Majesty: this deﬁnition was substituted, as from 21 December 1992, by section 3(5) Public Finance Amendment Act 1992 (1992 No 142).
Crown or Her Majesty: this deﬁnition was amended, as from 25 January 2005, by section 5(6)(a) Public Finance Amendment Act 2004 (2004 No 113) by substituting the words “the Sovereign” for the words “Her Majesty” in the ﬁrst place where they appear.

See sections 32 to 36 of that Act as to the transitional provisions.
Crown or Her Majesty: paragraph (a) of this deﬁnition was amended, as from 25 January 2005, by section 5(6)(b) Public Finance Amendment Act 2004 (2004 16 Reprinted as at 1 November 2007 Public Finance Act 1989 s 2 No 113) by substituting the words “the Sovereign” for the words “Her Majesty the Queen”.

See sections 32 to 36 of that Act as to the transitional provisions.
Crown agency[Repealed] Crown agency: this deﬁnition was repealed, as from 21 December 1992, by section 3(6) Public Finance Amendment Act 1992 (1992 No 142).

[Repealed] Crown Bank Account means any of the bank accounts opened and maintained under section 65R.

Crown Bank Account: this deﬁnition was substituted, as from 25 January 2005, by section 5(7) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Crown entity has the meaning given to it by section 7(1) of the Crown Entities Act 2004.

Crown entity: this deﬁnition in the original section 2 was inserted, as from 21 December 1992, by section 3(7) Public Finance Amendment Act 1992 (1992 No 142).

this deﬁnition was substituted, as from 25 January 2005, by Crown entity: section 5(8) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Crown entity group[Repealed] Crown entity group: this deﬁnition was repealed, as from 25 January 2005, by section 5(8) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
[Repealed] department— (a) means— (i) a department or instrument of the Government or any branch or division of the Government; or the Ofﬁce of Representatives; or the Parliamentary Service; but the House of the Clerk of (ii) (b) (iii) does not include— (i) a body corporate or other legal entity that has the power to contract; or an Ofﬁce of Parliament.
(ii) this deﬁnition in the original section 2 was amended, as from Department: 22 June 1990, by section 23(1) State Insurance Act 1990 (1990 No 36) by substituting the words “or the Public Trust Ofﬁce” for the words “the Public Trust ofﬁce, or the State Insurance ofﬁce”.

Department: this deﬁnition in the original section 2 was amended, as from 28 June 1990 by section 11(1) Export Guarantee Amendment Act (No 2) 1990 (1990 No 81) by inserting the words “or the Export Guarantee Ofﬁce”.
17 s 2 Public Finance Act 1989 Reprinted as at 1 November 2007 Department: this deﬁnition was amended, as from 1 March 2002, by section 170(1) Public Trust Act 2001 (2001 No 100) by omitting the words “or the Public Trust Ofﬁce,”.

See clause 2 Public Trust Act Commencement Order 2002 (SR 2002/11).

department: this deﬁnition was substituted, as from 25 January 2005, by section 5(9) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Departmental Bank Account means any of the bank accounts opened, maintained, and operated under section 65S.

Departmental Bank Account: this deﬁnition was substituted, as from 25 January 2005, by section 5(10) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Departmental revenue means revenue generated by a department or an Ofﬁce of Parliament resulting from the supply by the department or Ofﬁce of goods, services, rights, or money to other parties, including the Crown derivative transaction means— (a) collar transaction, currency option, foreign exchange a transaction that is a rate swap transaction, swap option, basis swap, forward rate transaction, interest cap rate option, transaction, ﬂoor transaction, transaction, currency swap transaction, cross­currency rate swap commodity swap, transaction, commodity option, equity or equity index swap, equity or equity index option, bond option, credit protection transaction, credit swap, credit default swap, credit default option, total return swap, credit spread transaction, forward purchase or sale of a security, or commodity or other ﬁnancial instrument or interest (including an agreement or option that relates to any of these transactions); or a transaction that is similar to any transaction referred to in paragraph (a) that— (i) is currently, or in the future becomes, recurrently entered into in the ﬁnancial markets; and is a forward, swap, future, option, or other derivative on 1 or more rates, currencies, commodities, equity securities or other equity instruments, debt securities or other debt economic indices or measures instruments, (ii) (b) 18 Reprinted as at 1 November 2007 Public Finance Act 1989 s 2 of economic risk or value, environmental or climatic variable, or other benchmarks against which payments or deliveries are to be made.
derivative transaction: this deﬁnition was inserted, as from 25 January 2005, by section 5(11) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

Estimates means a statement in any form that— (a) describes and supports the appropriations being sought in the ﬁrst Appropriation Bill that relates to a ﬁnancial year; and (b) contains the information referred to in section 14.
Estimates: this deﬁnition in the original section 2 was amended, as from 21 December 1992, by section 3(8) Public Finance Amendment Act 1992 (1992 No 142) by substituting the word “expenses” for the word “costs”.

Estimates: this deﬁnition was substituted, as from 25 January 2005, by section 5(12) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Expenses means expenses measured in accordance with generally accepted accounting practice; and includes costs Expenses: this deﬁnition in the original section 2 was inserted, as from 21 December 1992, by section 3(9) Public Finance Amendment Act 1992 (1992 No 142).
Financial year means a period of 12 months commencing on the 1st day of July and ending with the 30th day of June forecast ﬁnancial statements means a set of statements that consists of— (a) (b) (c) (d) a forecast statement of ﬁnancial performance; and a forecast statement of ﬁnancial position; and a forecast statement of cash ﬂows; and any other forecast ﬁnancial statement required by generally accepted accounting practice; and any other forecast ﬁnancial statement required for a reporting entity by any regulations made, or instructions issued, under this or any other Act.
(e) forecast ﬁnancial statements: this deﬁnition was inserted, as from 25 January 2005, by section 5(13) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Generally accepted accounting practice means— (a) Approved ﬁnancial reporting standards (within the meaning of section 2 of the Financial Reporting Act 1993) so far as those standards apply to the Crown 19 s 2 Public Finance Act 1989 Reprinted as at 1 November 2007 (b) or the department or the Ofﬁce of Parliament or the Crown entity, as the case may be: In relation to matters for which no provision is made in approved ﬁnancial reporting standards (within the meaning of section 2 of the Financial Reporting Act 1993) and which are not subject to any applicable rule of law, accounting policies that— (i) Are appropriate in relation to the Crown or the department or the Ofﬁce of Parliament or the Crown entity, as the case may be; and (ii) Have authoritative support within the accounting profession in New Zealand: Generally accepted accounting practice: this deﬁnition in the original section 2 was repealed, as from 1 July 1994, by section 48(1) Financial Reporting Act 1993 (1993 No 106).
Government means the Executive Government of New Zealand Government reporting entity means— (a) (b) the Sovereign in right of New Zealand; and the legislative, executive, and judicial branches of the Government of New Zealand Government reporting entity: this deﬁnition was inserted, as from 25 January 2005, by section 5(14) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
impact means the contribution made to an outcome by a speciﬁed set of outputs, or actions, or both impact: this deﬁnition was inserted, as from 25 January 2005, by section 5(14) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

intelligence and security department means— (a) (b) intelligence and security department: this deﬁnition was inserted, as from 25 January 2005, by section 5(14) Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

liability means a liability that is deﬁned, recognised, and measured in accordance with generally accepted accounting practice.

liability: this deﬁnition was substituted, as from 25 January 2005, by section 5(15) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

the New Zealand Security Intelligence Service; or the Government Communications Security Bureau.
20 Reprinted as at 1 November 2007 Public Finance Act 1989 s 2 local authority means a local authority within the meaning of the Local Government Act 2002 Local authority: this deﬁnition was substituted, as from 1 July 2003, by section 262 Local Government Act 2002 (2002 No 84).

See sections 273 to 314 of that Act as to the savings and transitional provisions.
Minister means the Treasurer, or other Minister of the Crown who, under the authority of any warrant or with the authority of the Prime Minister, is for the time being responsible for the administration of this Act or particular provisions of this Act Minister: this deﬁnition was substituted, as from 25 June 1997, by section 2 Treasurer (Statutory References) Act 1997 (1997 No 20).
Mode B[Repealed] Mode B: this deﬁnition in the original section 2 was amended, as from 21 December 1992, by section 3(13) Public Finance Amendment Act 1992 (1992 No 142) by inserting para (aa).

Mode B: paragraph (c) of this deﬁnition, in the original section 2, was substituted, as from 1 July 1994, by section 3(14) Public Finance Amendment Act 1992 (1992 No 142).

Mode B: this deﬁnition was repealed, as from 25 January 2005, by section 5(16) Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

[Repealed] Mode C[Repealed] Mode C the original deﬁnition was amended, as from 21 December 1992, by section 3(15) Public Finance Amendment Act 1992 (1992 No 142) by inserting paragraph (aa).

Mode C: this deﬁnition in the original section 2 was amended, as from 21 December 1992, by section 3(16) Public Finance Amendment Act 1992 (1992 No 142) by substituting paragraph (c).
Mode C: this deﬁnition was repealed, as from 25 January 2005, by section 5(16) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

[Repealed] multi­class output expense appropriation has the meaning given to it by section 7(3)(b).

multi­class output expense appropriation: this deﬁnition was inserted, as from 25 January 2005, by section 5(17) Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

Ofﬁce of Parliament means the Parliamentary Commissioner for the Environment (and that Commissioner’s ofﬁce), the Ofﬁce of Ombudsmen, and the Auditor­General Ofﬁce of Parliament: this deﬁnition in the original section 2 was substituted, as from 1 July 1993, by section 129(1) Privacy Act 1993 (1993 No 28).
21 s 2 Public Finance Act 1989 Reprinted as at 1 November 2007 this deﬁnition was amended, as from 1 July 2001, by Ofﬁce of Parliament: section 53 Public Audit Act 2001 (2001 No 10) by substituting the words “Auditor­General as deﬁned in section 4 of the Public Audit Act 2001” for the words “Audit Ofﬁce (including the Audit Department)”.
Ofﬁce of Parliament: this deﬁnition was amended, as from 25 January 2005, by section 5(18) Public Finance Amendment Act 2004 (2004 No 113) by omitting the words “as deﬁned in section 4 of the Public Audit Act 2001”.

See sections 32 to 36 of that Act as to the transitional provisions.
Operating surplus means the amount by which departmental revenue exceeds the expenses of a department Operating surplus: this deﬁnition in the original section 2 was substituted, as from 21 December 1992, by section 3(17) Public Finance Amendment Act 1992 (1992 No 142).
other expenses means any expenses incurred by the Crown, a department, or an Ofﬁce of Parliament that are other than— (a) (b) (c) Other expenses: this deﬁnition was substituted, as from 25 January 2005, by section 5(19) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

outcome— (a) means a state or condition of society, the economy, or output expenses; or beneﬁts or other unrequited expenses; or borrowing expenses.
the environment; and includes a change in that state or condition (b) outcome: this deﬁnition was substituted, as from 25 January 2005, by section 5(20) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
output expenses— (a) includes the full cost of producing and supplying outputs measured in accrual accounting terms; and includes the full allocation of overhead costs (b) this deﬁnition was inserted, as from 25 January 2005, by output expenses: section 5(20) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
outputs— (a) means goods or services that are supplied by a department, Crown entity, Ofﬁce of Parliament, or other person or body; and includes goods or services that a department, Crown entity, Ofﬁce of Parliament, or other person or body has (b) 22 Reprinted as at 1 November 2007 Public Finance Act 1989 s 2 agreed or contracted to supply on a contingent basis, but that have not been supplied outputs: this deﬁnition was substituted, as from 25 January 2005, by section 5(20) Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

principles of responsible ﬁscal management has the meaning given to it by section 26G(1).

principles of responsible ﬁscal management: this deﬁnition was inserted, as from 25 January 2005, by section 5(20) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Public money means all money received by the Crown, including the proceeds of all loans raised on behalf of the Crown, and any other money that the Minister or the Secretary directs to be paid into a Crown Bank Account or Departmental Bank Account and any money held by an Ofﬁce of Parliament; but does not include money held in trust as trust money or money received and held by Crown entities Public money: this deﬁnition in the original section 2 was amended, as from 21 December 1992, by section 3(22) Public Finance Amendment Act 1992 (1992 No 142) by substituting the words “Crown entity” for the words “Crown agency”.
Public security means any security issued under section 63 or any provision of any other Act; and includes any loan or credit agreement, guarantee, indemnity, bond, note, debenture, bill of exchange, Treasury bill, Government stock, and any other security representing part of the public debt of New Zealand Public security: this deﬁnition was amended, as from 25 January 2005, by section 5(21) Public Finance Amendment Act 2004 (2004 No 113) by substituting the expression “section 63” for the words “section 53 of this Act”.
See sections 32 to 36 of that Act as to the transitional provisions.

Purchased[Repealed] Purchased: this deﬁnition was inserted, as from 7 May 1999, by section 2 Public Finance Amendment Act 1999 (1999 No 45).

Purchased: this deﬁnition was repealed, as from 25 January 2005, by section 5(22) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
[Repealed] 23 s 2 Public Finance Act 1989 Reprinted as at 1 November 2007 Raising a loan[Repealed] Raising a loan: this deﬁnition in the original section 2 was substituted, as from 21 December 1992, by section 3(23) Public Finance Amendment Act 1992 (1992 No 142).

Raising a loan: this deﬁnition was repealed, as from 25 January 2005, by section 5(22) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
[Repealed] remeasurements— (a) means revisions of prices or estimates that result from revised expectations of future economic beneﬁts or obligations that change the carrying amounts of assets or liabilities; but does not include— (i) (b) revisions that result from transactions or events that give rise to the initial recognition of assets or liabilities in the reporting period; or revisions that result from transactions or events directly attributable to actions or decisions taken by the Crown; or expenses that arise from the consumption of assets during the reporting period; or interest income or interest expenses.
(ii) (iii) (iv) this deﬁnition was inserted, as from 25 January 2005, by remeasurements: section 5(23) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Responsible Minister means,— (a) In relation to a department, the Minister or Ministers for the time being responsible for the ﬁnancial performance of the department: in relation to an organisation named or described in the Minister or Ministers for the time Schedule 4, being responsible for the ﬁnancial performance of that organisation: in relation to an Ofﬁce of Parliament, to the Ofﬁce of the Clerk of the House of Representatives, or to the Parliamentary Service, the Speaker.
(d) (b) (c) Responsible Minister: this deﬁnition in the original section 2 was substituted, as from 21 December 1992, by section 3(24) Public Finance Amendment Act 1992 (1992 No 142).

24 Reprinted as at 1 November 2007 Public Finance Act 1989 s 2 Responsible Minister: paragraphs (b) and (c) of this deﬁnition were substituted, as from 25 January 2005, by section 5(24) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Responsible Minister: paragraph (d) of this deﬁnition was repealed, as from 25 January 2005, by section 5(24) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Secretary means the Secretary to the Treasury, being the Chief Executive of the Treasury Speaker means— (a) The Speaker of the House of Representatives; or (b) On the dissolution or expiration of Parliament until the ﬁrst meeting of the new Parliament, the person holding the ofﬁce of Speaker of the House of Representatives at the time of the dissolution or expiration, or, if there was at that time a vacancy in the ofﬁce of Speaker of the House of Representatives or if the person holding that ofﬁce at that time dies, the person holding the ofﬁce of Deputy Speaker at the time of the dissolution or expiration: Subsidiary has the same meaning as in sections 158 and 158A of the Companies Act 1955 or sections 5 and 6 of the Companies Act 1993, as the case may require Subsidiary: this deﬁnition in the original section 2 was inserted, as from 21 December 1992, by section 3(25) Public Finance Amendment Act 1992 (1992 No 142).
Supplementary Estimates means a statement in any form that— (a) is presented to the House of Representatives in accordance with section 16; and (b) contains the information referred to in section 17.

Supplementary Estimates: this deﬁnition was substituted, as from 25 January 2005, by section 5(25) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Trading revenue[Repealed] Trading revenue: this deﬁnition was repealed, as from 25 January 2005, by section 5(26) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
[Repealed] Treasury means the department of that name and, in relation to any particular function, duty, or power, means the Secretary; and includes any person for the time being authorised, by 25 s 2 Public Finance Act 1989 Reprinted as at 1 November 2007 the Secretary or otherwise, to exercise that function, duty, or power Treasury instructions means Treasury instructions issued under section 80 of this Act Trust Bank Account means a Trust Bank Account established under Part 7 of this Act Trust money means trust money within the meaning of section 66(1) of this Act type, in relation to an appropriation, means any of the types of appropriations speciﬁed in section 7(1).
type: this deﬁnition was inserted, as from 25 January 2005, by section 5(27) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Vote means an appropriation or a grouping of appropriations that is— (a) the responsibility of a designated Minister or Ministers and administered by 1 department; or the responsibility of the Speaker and administered by— (i) (ii) the House of the Clerk of (b) an Ofﬁce of Parliament; or the Ofﬁce of Representatives; or the Parliamentary Service.
(iii) Vote: this deﬁnition in the original section 2 was amended, as from 21 December 1992, by section 3(26) of the Public Finance Amendment Act 1992 (1992 No 142) by omitting from paragraph (a) the words “or programmes”.

Vote: this deﬁnition was substituted, as from 25 January 2005, by section 5(28) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
working day means any day except— (a) Saturday, Sunday, Good Friday, Easter Monday, Anzac Day, the Sovereign’s Birthday, Labour Day, Waitangi Day; and the day observed as anniversary day in Wellington; and a day in the period commencing on 25 December in 1 year and ending on 15 January in the next year.

working day: this deﬁnition was inserted, as from 25 January 2005, by section 5(29) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(b) (c) (2) (3) 26 Reprinted as at 1 November 2007 Public Finance Act 1989 s 3 (4) (5) Notwithstanding any other provision of this Act, where this Act provides that a power may be exercised by both the Minister and the Secretary, the power may be exercised by the Secretary only in so far as the Minister has not otherwise directed.
Compare: 1977 No 65 s 2(1) Expenses of the Crown: this deﬁnition in the original section 2 was inserted, as from 21 December 1992, by section 3(9) Public Finance Amendment Act 1992 (1992 No 142).

Grant: this deﬁnition in the original section 2 was repealed, as from 1 July 1994, by section 3(10) Public Finance Amendment Act 1992 (1992 No 142).
Mode A: paragraph (a) of this deﬁnition in the original section 2 was amended, as from 21 December 1992, by section 3(11) Public Finance Amendment Act 1992 (1992 No 142) by omitting the words “or a programme”.

Mode A: paragraph (c) of this deﬁnition in the original section 2 was substituted, as from 1 July 1994, by section 3(12) Public Finance Amendment Act 1992 (1992 No 142).
Other expense: this deﬁnition in the original section 2 was inserted, as from 21 December 1992, by section 3(18) Public Finance Amendment Act 1992 (1992 No 142).

Outputs this deﬁnition in the original section 2 was amended, as from 21 December 1992, by section 3(19) Public Finance Amendment Act 1992 (1992 No 142) by substituting the words “Crown entity” for the words “Crown agency”.
Payment on behalf of the Crown: this deﬁnition in the original section 2 was inserted, as from 1 July 1994, by section 3(20) Public Finance Amendment Act 1992 (1992 No 142).

Programme: this deﬁnition in the original section 2 was repealed, as from 21 December 1992, by section 3(21) Public Finance Amendment Act 1992 (1992 No 142).

Subsections (1A) and (1B) were inserted, as from 21 December 1992, by section 3(27) Public Finance Amendment Act 1992 (1992 No 142).
Section 2 was substituted, as from 1 July 1994, by section 3(1) Public Finance Amendment Act 1994 (1994 No 18).

Subsections (2) to (4) were repealed, as from 25 January 2005, by section 5(30) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

3 Act to bind Crown This Act shall bind the Crown.
Compare: 1977 No 65 s 3 27 s 3A Public Finance Act 1989 Reprinted as at 1 November 2007 3A Power to amend Schedule 4 (1) The Governor­General may, by Order in Council, amend Schedule 4— (a) to add to column 1 any of the following: (i) the name of any body established by or under an Act: the name of any statutory ofﬁce (except an Ofﬁce of Parliament) or statutory ofﬁcer established by or under an Act: the name of any trust that is created by the Crown by deed of trust or in respect of which the Crown has appointed, or has power to appoint, a major­ ity of the trustees: subject to subsection (2), the name of any com­ pany: (ii) (iii) (iv) (b) (c) to apply to an organisation that is in column 1 any provi­ sion of the Crown Entities Act 2004 (other than section 165) that is listed in column 2: to omit from column 1 any of the following (and to omit from column 2 any provision of the Crown Entities Act 2004 that applies to it): (i) the name of any body, ofﬁcer, trust, or company in recognition of its dissolution or removal from the register under the Companies Act 1993: the name of any company subject to subsection (3): the name of any trust in respect of which the Crown ceases to have the power to appoint a ma­ jority of the trustees: the name of any body, ofﬁcer, trust, or company that becomes a Crown entity under the Crown Entities Act 2004 or a State enterprise under the State­Owned Enterprises Act 1986: (ii) (iii) (iv) (d) (e) to substitute, in column 1, the name of any body, ofﬁcer, trust, or company in
 recognition of a change in its name: to omit from column 2 the application of any provision of the Crown Entities Act 2004 to any 1 or more organ­ isations named in column 1.
28 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 1 s 4 (2) An Order in Council may be made under subsection (1)(a)(iv) only if the Governor­General in Council is satisﬁed, at the time of the making of the Order in Council, that more than 50% of the issued ordinary shares in the capital of the company to which the order relates are held by Ministers of the Crown on behalf of the Crown.
(3) An Order in Council may be made under subsection (1)(c)(ii) only if the Governor­General in Council is satisﬁed, at the time of the making of the Order in Council, that at least 50% of the issued ordinary shares in the capital of the company to which the order relates are no longer held by Ministers of the Crown on behalf of the Crown.

Section 3A was inserted, as from 21 December 1992, by section 4 Public Finance Amendment Act 1992 (1992 No 142).
Subsection (1)(a)(i) was substituted, as from 1 July 1994, by section 4 Public Finance Amendment Act 1994 (1994 No 18).

Section 3A was substituted, as from 25 January 2005, by section 6 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
3AA Meaning of generally accepted accounting practice [Repealed] Section 3AA was inserted, as from 1 July 1994, by section 48(2) Financial Reporting Act 1993 (1993 No 106), and repealed, as from 1 July 1994, by section 3(2)(a) Public Finance Amendment Act 1994 (1994 No 18).

Part 1 Appropriations Requirement for appropriations Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).
The heading to the previous Part 1 read “Appropriations”.

See sections 32 to 36 of that Act as to the transitional provisions.

4 (1) Expenses or capital expenditure must not be incurred unless in accordance with appropriation or statutory authority The Crown or an Ofﬁce of Parliament must not incur expenses or capital expenditure, except as expressly authorised by an appropriation, or other authority, by or under an Act.
29 Part 1 s 5 Public Finance Act 1989 Reprinted as at 1 November 2007 In this section, expense does not include an expense that results from— (a) (b) a remeasurement of an asset or a liability; or an operating loss incurred by— (i) (ii) (iii) (iv) (v) a Crown entity named or described in the Crown Entities Act 2004; or an organisation named or described in Schedule 4; or a State enterprise named in the Schedule 1 of the State­Owned Enterprises Act 1986; or the Reserve Bank of New Zealand; or any other entity whose ﬁnancial statements must be consolidated into the ﬁnancial statements of the Government to comply with generally ac­ cepted accounting practice.
Subsections (2) and (3) were substituted, as from 21 December 1992, by section 5(1) Public Finance Amendment Act 1992 (1992 No 142).

Subsections (4) to (6) were amended, as from 21 December 1992, by section 5(2) Public Finance Amendment Act 1992 (1992 No 142) by substituting the word “expenses” for the word “costs” wherever it occurs.

Section 4 was substituted, as from 1 July 1994, by section 5 Public Finance Amendment Act 1994 (1994 No 18).
Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

Public money must not be spent unless in accordance with statutory authority The Crown or an Ofﬁce of Parliament must not spend public money, except as expressly authorised by or under an Act (in­ cluding this Act).
Section 5 was substituted, as from 21 December 1992, by section 6 Public Fi­ nance Amendment Act 1992 (1992 No 142).

Subsection (1) was substituted, as from 1 July 1994, by section 6 Public Finance Amendment Act 1994 (1994 No 18).

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(2) 5 30 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 1 s 7 6 Authority to spend public money Public money may be spent, without further authority than this section, for the purpose of— (a) meeting expenses or capital expenditure incurred in ac­ cordance with an appropriation or other authority by or under an Act; and the payment of goods and services tax in relation to those expenses or capital expenditure; and the repayment of debt of the Crown or an Ofﬁce of Par­ liament; and the settlement of liabilities of the Crown or an Ofﬁce of Parliament.
(d) (b) (c) Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
7 Separate appropriation required for types of expenses and capital expenditure (a) (b) (1) A separate appropriation must be made for— each category of output expenses; and each category of beneﬁts or other unrequited expenses; and each category of borrowing expenses; and each category of other expenses; and each category of capital expenditure; and expenses and capital expenditure to be incurred by each intelligence and security department.
(c) (d) (e) (f) (2) All expenses or capital expenditure to be incurred in any ﬁnan­ cial year must be allocated to 1 of the types of appropriation set out in subsection (1) within a Vote speciﬁed in an Appro­ priation Act.
(3) An output expense appropriation referred to in subsection (1)(a) must consist of— (a) a class of outputs to be supplied— by a department; or (i) to or on behalf of the Crown (other than by a (ii) department); or 31 Part 1 s 8 Public Finance Act 1989 Reprinted as at 1 November 2007 (b) if the Minister approves, more than 1 class of outputs (a multi­class output expense appropriation) to be sup­ plied— (i) (ii) by a department; or to or on behalf of the Crown (other than by a department).
(4) However, if subsection (3)(b) applies, the Estimates or other supporting information that must be presented with the Appro­ priation Bill in which the multi­class output expense appropri­ ation is sought must,— (a) to the extent required by section 14 or, as the case may be, section 15, relate to each class of outputs in that appropriation; and explain why those classes of outputs have been grouped under that 1 appropriation.
(b) Section 7 was substituted, as from 21 December 1992, by section 7(1) Public Finance Amendment Act 1992 (1992 No 142).

Section 7 was further substituted, as from 1 July 1994, by section 7(1) Public Finance Amendment Act 1994 (1994 No 18).

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Appropriation limited by amount The authority to incur expenses or capital expenditure pro­ vided by an appropriation under an Appropriation Act— (a) is limited to the amount speciﬁed for the appropriation by or under that Act; and (b) may not be exceeded (except as provided for in section 25 or section 26A or section 26B).

Section 8 was amended, as from 21 December 1992, by section 8 Public Finance Amendment Act 1992 (1992 No 142) by substituting the word “expense” for the word “cost”.
Section 8 was substituted, as from 1 July 1994, by section 8 Public Finance Amendment Act 1994 (1994 No 18).

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
8 32 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 1 s 9 9 (1) (2) Appropriation limited by scope The authority to incur expenses or capital expenditure pro­ vided by an appropriation— (a) (b) may not be used for any other purpose.
For the purposes of subsection (1),— (a) is limited to the scope of the appropriation; and the scope of a multi­class output expense appropriation is the scope of each of the individual classes of outputs included in that appropriation; and any variation made by the Minister of the terms and conditions of a capital injection to any entity referred to in section 27(3)(a) to (f) does not change the scope or purpose of that capital injection.
(b) Subsections (1) and (2) were substituted and subsection (2A) was inserted, as from 1 July 1994, by section 9(1) Public Finance Amendment Act 1994 (1994 No 18).

Subsections (2)(d) to (g) were substituted, as from 21 December 1992, for the original paras (d), (e), (f) and (g), by section 9(1) Public Finance Amendment Act 1992 (1992 No 142).
In subsection (2)(g) the words “category of beneﬁt and each grant” were sub­ stituted, as from 21 December 1992, for the word “payment”, and the word “they” for the word “it” pursuant to section 9(5) of the same amendment Act.

Subsection (2A) was inserted, as from 1 July 1994, by section 9(1) Public Fi­ nance Amendment Act 1994 (1994 No 18).

Subsection (2A)(o) and (2A)(p) were inserted, as from 1 July 1994, by section 9(2) Public Finance Amendment Act 1994 (1994 No 18).
See also section 9(6) of that Act relating to estimates.

Subsection (3) was repealed, as from 1 July 1994, by section 9(3) Public Finance Amendment Act 1994 (1994 No 18).

Subsection (4) was inserted, as from 1 July 1994, by section 9(4) Public Finance Amendment Act 1994 (1994 No 18).

Subsection (5) was amended, as from 21 December 1992, by section 9(3) of 1992 No 142 by substituting the word “expenses” for the word “costs”.
Subsections (5) to (7) were repealed, as from 1 July 1994, by section 9(4) Public Finance Amendment Act 1994 (1994 No 18).

Subsection (7) was inserted, as from 21 December 1992, by section 9(4) of 1992 No 142.

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
33 Part 1 s 9A Public Finance Act 1989 Reprinted as at 1 November 2007 9A Supplementary Estimates [Repealed] Section 9A was inserted, as from 21 December 1992, by section 10 Public Fi­ nance Amendment Act 1992 (1992 No 142).

Section 9A was substituted, and section 9B was inserted, as from 1 July 1994, by section 10(1) Public Finance Amendment Act 1994 (1994 No 18).
Subsection (2)(a) was amended, as from 1 July 1994, by section 11(1)(a) Public Finance Amendment Act 1994 (1994 No 18) by substituting the expression “(n), (o), and (p)” for the expression “and (n)”.

It was further amended by section 11(1)(b) Public Finance Amendment Act 1994 (1994 No 18) by omitting the words “and in paragraph (c) of section (9) of this Act”.
Subsection (2)(b) was amended, as from 1 July 1994, by section 11(1)(c) Public Finance Amendment Act 1994 (1994 No 18) by omitting the words “or under paragraph (c) of section 9(3) of this Act”.

See also section 11(2) of that Act relating to supplementary estimates.

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

10 (1) Appropriation limited by period The authority to incur expenses or capital expenditure pro­ vided by an appropriation under an Appropriation Act lapses at the end of the ﬁnancial year to which the Act relates.
(2) However, if an Appropriation Act provides that the authority to incur expenses or capital expenditure applies for more than 1 ﬁnancial year, that authority— (a) (b) lapses at the end of the period speciﬁed in the Act; and continues in force until the end of the period speciﬁed despite the repeal of the Act, unless the authority is ex­ pressly varied, revoked, or replaced by an authority in another Appropriation Act.
(3) Despite subsection (2), the authority to incur expenses or cap­ ital expenditure must not apply for more than 5 ﬁnancial years.

Section 10 was substituted, as from 21 December 1992, by section 11 Public Finance Amendment Act 1992 (1992 No 142).

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
34 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 1 s 12 11 (1) (2) 12 Expenses or payments authorised other than by Appropriation Act If an Act (other than an Appropriation Act) expressly provides for payments to be appropriated by or under that Act, any ex­ pense or capital expenditure incurred that gives rise to the need for those payments may be incurred without further appropri­ ation than this section.
Each expense or capital expenditure incurred in accordance with an appropriation by or under an Act (other than an Ap­ propriation Act) must be managed and accounted for in the same manner as expenses or capital expenditure incurred in accordance with an Appropriation Act.

Section 11 was substituted, as from 21 December 1992, by section 12 Public Finance Amendment Act 1992 (1992 No 142).

Section 11 was further substituted, as from 1 July 1994, by section 12 Public Finance Amendment Act 1994 (1994 No 18).
The words “statement of ﬁnancial position” in the section heading were sub­ stituted, as from 1 October 1997, for the words “balance sheet” pursuant to section 6(1) Financial Reporting Amendment Act 1997 (1997 No 17).

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Timing of ﬁrst Appropriation Bill for ﬁnancial year Except as otherwise provided by a resolution of the House of Representatives, the ﬁrst Appropriation Bill that relates to a ﬁnancial year must be introduced into the House of Represen­ tatives before the end of the ﬁrst month after the start of that ﬁnancial year.

Section 12 was substituted, as from 21 December 1992, by section 13 Public Finance Amendment Act 1992 (1992 No 142).
Subsection (1)(a)(iii) was amended, as from 21 December 1992, pursuant to section 13(2) Public Finance Amendment Act 1992 (1992 No 142) by substi­ tuting the words “Grants and beneﬁts” for the words “Payments on behalf of the Crown”.

Section 12 was substituted, as from 1 July 1994, by section 13 Public Finance Amendment Act 1994 (1994 No 18).
Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
35 Part 1 s 13 Public Finance Act 1989 Reprinted as at 1 November 2007 Information requirements for appropriations Estimates and other supporting information must be presented with ﬁrst Appropriation Bill The Minister must present to the House of Representatives the Estimates immediately after he or she has delivered the Budget.
The Minister must also present to the House of Representa­ tives the other supporting information referred to in section 15 at the same time he or she presents the Estimates under subsection (1), unless that other supporting information is al­ ready contained in the Estimates.

21 December 1992, by section 14 Public Finance Amendment Act 1992 (1992 No 142) by substituting the word “expenses” for the word “costs”.
Subsection (1) was amended, as from 1 July 1994, by section 14(1) Public Fi­ nance Amendment Act 1994 (1994 No 18) by substituting the words “expenses or liabilities” for the word “expenses”.

Subsection (1)(a) was substituted, as from 1 December 2002, by section 117 Civil Defence Emergency Management Act 2002 (2002 No 33).

See sections 118 to 121 of that Act as to the transitional provisions.
Subsection (2) was amended, as from 1 July 1994, by section 14(1) Public Fi­ nance Amendment Act 1994 (1994 No 18) by substituting the words “expenses or liabilities” for the word “expenses”.

Subsection (3) was substituted, as from 1 July 1994, by section 14(2) Public Finance Amendment Act 1994 (1994 No 18).

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.
Content of Estimates The Estimates must state,— (a) for each appropriation being sought in the ﬁrst Appro­ priation Bill for a ﬁnancial year,— (i) (ii) the Vote to which the appropriation relates; and the Minister responsible for the appropriation; and the department that will administer the Vote con­ taining the appropriation; and the type of the appropriation (in terms of section 7); and (iii) (iv) 13 (1) (2) 14 (1) 36 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 1 s 15 (v) (vi) (vii) the amount of each expense or capital expend­ iture authorised by the appropriation (in terms of section 8); and the scope of the appropriation (in terms of section 9); and the period of the appropriation, but only if the period is more than 1 ﬁnancial year (in terms of section 10); and for each department, the Responsible Minister for the department; and for each department other than an intelligence and se­ curity department, the projected balance of net assets for the department at the end of the ﬁnancial year (in terms of section 23(1)(c)).
(b) (c) The Minister may, in addition to the information referred to in this section, include in the Estimates any further information that the Minister considers necessary or desirable.

Section 14 was substituted, as from 1 July 1994, by section 15 Public Finance Amendment Act 1994 (1994 No 18).

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.
Other supporting information for ﬁrst Appropriation Bill The other supporting information for the ﬁrst Appropriation Bill must, for each appropriation, include— (a) a concise explanation of each appropriation (including the intended impacts, outcomes, or objectives of the ap­ propriation); and the performance measures and forecast standards to be achieved for each class of outputs; and the forecast expenses to be incurred for each class of outputs within a multi­class output expense appropri­ ation; and comparative voted and estimated actual expenses or capital expenditure for each appropriation for the pre­ vious ﬁnancial year.
(b) (c) (d) (2) 15 (1) (2) The other supporting information must, for each Vote, in­ clude— 37 Part 1 s 15 Public Finance Act 1989 Reprinted as at 1 November 2007 (a) (b) comparative voted and estimated actual expenses or capital expenditure for the previous ﬁnancial year, and comparative actual expenses or capital expenditure for each of the 4 ﬁnancial years that preceded the previous ﬁnancial year, for the total of each of the types of appropriation set out in section 7(1); and a summary of the ﬁnancial activity relating to the Vote for the ﬁnancial year to which the Appropriation Bill relates, and comparative budgeted and estimated actual ﬁgures for the previous ﬁnancial year.
The other supporting information must also include, for each category of expense or capital expenditure that is proposed to be incurred in accordance with an appropriation by an Act (other than an Appropriation Act),— (a) the information required, under subsection (1) and sec­ tion 14 for each appropriation (except that the refer­ ence in section 14(1)(a)(v) to the amount of each ex­ pense or capital expenditure authorised by the appropri­ ation must be read as a reference to the amount of each expense or capital expenditure forecast to be incurred under the appropriation); and the authority for that expense or capital expenditure.
(b) The Minister may, in addition to the information referred to in this section, present any further information that the Minister considers necessary or desirable.

Subsections (1)(a) and (b) and (2)(b) do not apply to an appro­ priation made in accordance with section 7(1)(f).

Sections 15 and 16 were substituted, as from 21 December 1992, by section 15 Public Finance Amendment Act 1992 (1992 No 142).
Subsection (1) was substituted, as from 1 July 1994, by section 16 Public Fi­ nance Amendment Act 1994 (1994 No 18).

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(3) (4) (5) 38 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 1 s 17 16 17 (1) (2) Supplementary Estimates must be presented with Supplementary Appropriation Bill The Minister must present to the House of Representatives the Supplementary Estimates on the day of the introduction of an Appropriation Bill that is other than— (a) (b) the ﬁrst Appropriation Bill for a ﬁnancial year; or an Appropriation Bill that deals only with matters that relate to a previous ﬁnancial year.
Sections 15 and 16 were substituted, as from 21 December 1992, by section 15 Public Finance Amendment Act 1992 (1992 No 142).

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Content of Supplementary Estimates The Supplementary Estimates must,— (a) if information about an appropriation or department was provided in the Estimates or previous Supplementary Estimates for the same ﬁnancial year, state any changes to the information about that appropriation or depart­ ment that— (i) (ii) if information about an appropriation or department was not provided in the Estimates or previous Supplemen­ tary Estimates for the same ﬁnancial year, state the in­ formation about that appropriation or department that is required under section 14. is required under section 14; and is contained in those Estimates; or (b) If subsection (1)(b) applies, the Minister must also present the information about the appropriation that is required under sec­ tion 15(1)(a) to (c).
Subsection (1)(a) was amended, as from 1 July 1994, by section 17(1) Public Fi­ nance Amendment Act 1994 (1994 No 18) by substituting the word “expenses” for the word “expenditure”.

Subsection (2) was substituted, as from 1 July 1994, by section 17(2) Public Finance Amendment Act 1994 (1994 No 18).
Subsection (4) was amended, as from 1 July 1994, by section 17(3) Public Fi­ nance Amendment Act 1994 (1994 No 18) by substituting the expression “sec­ tion 9(2A)(f), (g), (h), (k), and (l)” for the expression “section 9(2)(g) and (i)”.

39 Part 1 s 18 Public Finance Act 1989 Reprinted as at 1 November 2007 Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

18 Minister must consult on proposal to change format or (1) (2) 19 (1) content of information presented with Appropriation Bills This section applies if the Minister proposes to signiﬁcantly change the format or content of— (a) (b) the Estimates; or the other supporting information referred to in section 15; or the Supplementary Estimates.
(c) Before giving effect to the proposal, the Minister must— (a) submit the proposal to the Speaker (who must then pre­ sent it to the House of Representatives); and consider any comments that he or she receives from— (i) (ii) the Speaker; or any committee of the House of Representatives that considered the proposal.

(b) Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

Power of Secretary to obtain information The Secretary may request a department or an entity referred to in section 27(3)(a) to (f), or an entity that manages an asset or liability of the Crown, to supply to the Secretary any infor­ mation that is necessary to enable the preparation of— (a) (b) the Estimates; and the other supporting information referred to in section 15; and the Supplementary Estimates.
(c) (2) A request under subsection (1)— (a) must be in writing; and (b) may state the date by which, and the manner in which, the information requested must be provided.
40 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 1 s 21 (3) If a date is speciﬁed under subsection (2)(b), that date must be reasonable having regard to the time limits prescribed by this Act for presenting to the House of Representatives— (a) the Estimates or other supporting information referred to in section 15; and the Supplementary Estimates.

(b) (4) A department or entity to whom the request is made must com­ ply with the request.
Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Other provisions relating to appropriations 20 (1) Departments may incur output expenses for, or on behalf of, other departments This section applies if an output is supplied by a department (A) for, or on behalf of, another department (B) in accordance with an agreement between A and B.

(2) Output expenses may be incurred by A, without further appro­ priation than this section, up to the amount of revenue earned from B.
(3) However, A must return to B any revenue earned by the supply of the output that is not utilised toward the costs of the output.

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
21 (1) Expenses restricted by revenue If a class of outputs is supplied by a department, output ex­ penses may be incurred, without further appropriation than this section, up to the amount of revenue expected to be earned by that class of outputs from parties other than the Crown.
(2) However, subsection (1) applies only if— (a) (b) the appropriation is limited to 1 class of outputs; and the appropriation to which the output expenses are to be charged is speciﬁed in an Appropriation Act for that year as being supplied under this section; and 41 Part 1 s 22 Public Finance Act 1989 Reprinted as at 1 November 2007 (c) the approval of the Minister for the output expenses to be incurred under this section has been given.
(4) (3) Despite subsections (1) and (2), the Minister may direct that only part of the output expenses may be incurred to a level less than the amount of the revenue earned from parties other than the Crown.

This section does not authorise output expenses to be incurred, in respect of any class of outputs, that exceed the actual amount of revenue earned by that class of outputs from parties other than the Crown in any year.
In this section, a reference to the amount of revenue earned by a class of outputs from parties other than the Crown may include a reference to the amount of revenue earned by a class of outputs from another department.

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(5) Operating surplus of department Except as agreed between the Minister and the Responsible Minister for a department, the department must not retain any operating surplus that results from its activities.

The reported net asset holding of a department may increase as a result of a remeasurement without further authority than this section.
The amount of net asset holding in a department must not ex­ ceed the most recent projected balance of net assets for that department at the end of the ﬁnancial year, as set out in an Ap­ propriation Act in accordance with section 23(1)(c).

Subsection (3) is subject to subsections (1) and (2).

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.
Net assets of departments must be conﬁrmed Each Appropriation Bill that is introduced before the end of the ﬁnancial year to which the Bill relates must include a schedule 22 (1) (2) (3) (4) 23 (1) 42 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 1 s 24 that shows for each department (other than an intelligence and security department)— (a) either of the following: (i) (ii) the most recently audited amount of net assets; or the most recently projected amount of net assets at the start of that ﬁnancial year to which the appropriations sought in that Bill apply; and projected movements in net assets during that ﬁnancial year; and the projected balance of net assets at the end of that ﬁnancial year.
(b) (c) (2) The projected movements in net assets referred to in subsec­ tion (1)(b) must include as separate items— (a) (b) any projected capital injections and withdrawals; and any surpluses projected to be retained in accordance with section 22(1).

Subsection (1) was amended, as from 1 July 1994, by section 18 Public Finance Amendment Act 1994 (1994 No 18) by inserting the words “, without further appropriation than this section,”.
Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
24 Movements within departmental statement of ﬁnancial position (1) A department may, without further appropriation than this sec­ tion, use the proceeds of the sale or disposal of any of its assets, together with any working capital held by it, to purchase or de­ velop assets.

(2) A department may, without further authority than this section, use the proceeds of the sale or disposal of its assets, together with any working capital held by it, to pay its liabilities.
Sections 24 and 25 were substituted, as from 21 December 1992, by section 16 Public Finance Amendment Act 1992 (1992 No 142).

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
43 Part 1 s 25 Public Finance Act 1989 Reprinted as at 1 November 2007 25 (1) (2) (3) (4) Expenses or capital expenditure may be incurred in emergencies This section applies if— (a) a state of emergency or state of civil defence emergency is declared under the Civil Defence Act 1983 or the Civil Defence Emergency Management Act 2002; or a situation occurs that affects the public health or safety of New Zealand or any part of New Zealand that the Government declares to be an emergency.
(b) The Minister may approve expenses or capital expenditure to be incurred to meet the emergency or disaster and, whether or not there is an appropriation by Parliament available for the purpose and despite sections 4, 8, and 9, the expenses or capital expenditure may be incurred accordingly.
If expenses or capital expenditure that have not been appro­ priated are incurred under subsection (2), the Minister must publish a notice in the Gazette, stating that the expenses or capital expenditure have been so incurred.

Public money may be spent, without further authority than this section, for the purpose of meeting expenses or capital expend­ iture incurred in accordance with subsection (2) that have not been appropriated.
(5) A statement about any expenses and capital expenditure in­ curred under this section in any ﬁnancial year that have not been appropriated must be included in— (a) (b) Subsection (5) does not limit the validity of any expenses or capital expenditure incurred under this section.

Sections 24 and 25 were substituted, as from 21 December 1992, by section 16 Public Finance Amendment Act 1992 (1992 No 142).
the annual ﬁnancial statements of the Government; and an Appropriation Bill for conﬁrmation by Parliament.

(6) Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
44 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 1 s 26A 26 Minister may determine terms and conditions of capital (1) injections The Minister, after consultation with the Minister responsible for an entity, may— (a) determine the terms and conditions under which any capital injection authorised by an appropriation under section 7(1)(e) or any other authority is to be made to that entity; and vary those terms and conditions at any time.
(2) However, subsection (1)(b) does not apply in respect of a State enterprise named in the Schedule 1 of the State­Owned Enterprises Act 1986.

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(b) 26A Transfer of resources between output expense (1) appropriations The Governor­General may, by Order in Council, direct that an amount appropriated for an output expense appropriation in a Vote be transferred, without further appropriation than this section, to another output expense appropriation in that Vote if— (a) the amount transferred does not increase that appropri­ ation for a ﬁnancial year by more than 5%; and no other transfer under this section to that appropriation has occurred during that ﬁnancial year; and the total amount appropriated for that ﬁnancial year for all output expense appropriations in that Vote is unal­ tered.
(b) (c) (3) (2) A clause that conﬁrms the making of an Order in Council under subsection (1) in a ﬁnancial year must be included in an Appropriation Bill that applies to that ﬁnancial year.

Subsection (2) does not limit the validity of an Order in Coun­ cil made under subsection (1) or the validity of any transfer made under that Order in Council.

Section 26A was inserted, as from 1 July 1994, by section 19 Public Finance Amendment Act 1994 (1994 No 18).
45 Part 1 s 26B Public Finance Act 1989 Reprinted as at 1 November 2007 Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
26B Minister may approve expenses or capital expenditure to (1) (2) (3) be incurred in excess of existing appropriation This section applies if the Minister considers that the incurring of expenses or capital expenditure in the last 3 months of any ﬁnancial year that is in excess, but within the scope, of an existing appropriation by or under an Act should be approved.
The Minister may, in that ﬁnancial year or not later than 3 months after the end of that ﬁnancial year, approve in respect of that appropriation up to the greater of— an amount not exceeding $10,000; or (a) 2% of the total amount appropriated for that appropri­ (b) ation.

Subsection (2) applies— (a) even though all or part of the expenses or capital ex­ penditure may have been incurred; and despite sections 4 and 8.
(b) (5) (4) Any expenses or capital expenditure that the Minister ap­ proves under this section must be included, for conﬁrmation by Parliament, in an Appropriation Bill that applies to that ﬁnancial year.

Subsection (4) does not limit the validity of any expenses or capital expenditure incurred under this section.

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

26C Expenses or capital expenditure incurred without appropriation or other authority requires validation by Parliament The incurring of any expenses or capital expenditure without appropriation, or other authority, by or under an Act is unlaw­ ful, unless it is validated by Parliament in an Appropriation Act.
(1) 46 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 1 s 26E (2) The Minister must, on the introduction of any Appropriation Bill that seeks validation by Parliament of any expenses or capital expenditure incurred without appropriation, or other authority, by or under an Act, present to the House of Rep­ resentatives a report that sets out— (a) the amount of each category of expenses or capital ex­ penditure so incurred; and the explanation of the Minister responsible for the ex­ penses or capital expenditure.
(b) Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
26D Reporting requirements in relation to expenses or (1) capital expenditure incurred in excess of, or without, appropriation This section applies to any expenses or capital expenditure— that has been incurred without appropriation; or (a) that has been incurred in excess of an existing appropri­ (b) ation.
(2) A statement that relates to any expenses or capital expenditure to which this section applies must be included in— (a) the annual ﬁnancial statements of the Government for the ﬁnancial year; and the annual ﬁnancial statements of the administering de­ partment for the ﬁnancial year in accordance with sec­ tion 45B(2)(d).

(b) Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.
Application of this Part to Ofﬁces of Parliament 26E Application of this Part to Ofﬁces of Parliament (1) Before an appropriation in a Vote administered by an Ofﬁce of Parliament may be included in an Appropriation Bill for a ﬁnancial year, the chief executive of the Ofﬁce concerned must prepare and submit to the House of Representatives the following information: 47 Part 1 s 26E Public Finance Act 1989 Reprinted as at 1 November 2007 (a) (b) (c) an estimate of expenses and capital expenditure to be incurred for— each proposed appropriation; and (i) (ii) each class of outputs within an appropriation; and the projected balance of net assets (in terms of section 23(1)(c)); and the revenue of the Ofﬁce (including the revenue asso­ ciated with each proposed expenses appropriation and each output class).
The House of Representatives, after considering the informa­ tion provided under subsection (1), may for each Ofﬁce of Par­ liament commend to the Governor­General, by way of an ad­ dress, the estimates for each of the matters set out in subsection (1)(a) to (c).

The House of Representatives may, in that address, request that the estimates referred to in subsection (2) be included as a Vote in an Appropriation Bill for that year.
If that Vote is included in an Appropriation Bill for that year, this Part applies, with all necessary modiﬁcations, as if refer­ ences to a department were references to an Ofﬁce of Parlia­ ment.

(2) (3) (4) (5) An alteration to a Vote administered by an Ofﬁce of Parlia­ ment during a ﬁnancial year is subject to the provisions of this section.
Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

Part 2 Fiscal responsibility Preliminary Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).
The heading to the previous Part 2 read “Banking and investment”.

See sections 32 to 36 of that Act as to the transitional provisions.

48 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 2 s 26G 26F Interpretation If the context requires, references in this Part to total debt, total operating expenses, total operating revenues, and total net worth are references to the total ﬁscal aggregates of the forecast ﬁnancial statements prepared in accordance with sec­ tion 26Q.
Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
26G Principles of responsible ﬁscal management (1) The Government must pursue its policy objectives in accord­ ance with the following principles (the principles of responsi­ ble ﬁscal management): (a) reducing total debt to prudent levels so as to provide a buffer against factors that may impact adversely on the level of total debt in the future by ensuring that, until those levels have been achieved, total operating expenses in each ﬁnancial year are less than total oper­ ating revenues in the same ﬁnancial year; and once prudent levels of total debt have been achieved, maintaining those levels by ensuring that, on average, over a reasonable period of time, total operating ex­ penses do not exceed total operating revenues; and achieving and maintaining levels of total net worth that provide a buffer against factors that may impact ad­ versely on total net worth in the future; and (b) (c) (d) managing prudently the ﬁscal risks facing the Govern­ (e) ment; and pursuing policies that are consistent with a reasonable degree of predictability about the level and stability of tax rates for future years.
(2) However, the Government may depart from the principles of responsible ﬁscal management if— (a) (b) the departure from those principles is temporary; and the Minister, in accordance with this Act, states— (i) the reasons for the departure from those princi­ ples; and 49 Part 2 s 26H Public Finance Act 1989 Reprinted as at 1 November 2007 (ii) (iii) the approach the Government intends to take to return to those principles; and the period of time that the Government expects to take to return to those principles.
Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

26H Generally accepted accounting practice All ﬁnancial statements and forecast ﬁnancial statements in­ cluded in reports and updates required under this Part must be prepared in accordance with generally accepted accounting practice.
Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

Fiscal strategy report 26I Fiscal strategy report (1) (2) (3) The Minister must, in each ﬁnancial year and in accordance with subsection (2), present to the House of Representatives a report on the Government’s ﬁscal strategy.
The Minister must present the ﬁscal strategy report immedi­ ately after he or she has delivered the Budget for the ﬁnancial year to which the report relates.

Sections 26J to 26L set out the contents of the ﬁscal strategy report.

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
26J Contents of ﬁscal strategy report: long­term objectives (1) The ﬁscal strategy report must— (a) state the Government’s long­term objectives for ﬁscal policy and, in particular, for the following variables: (i) (ii) total operating expenses: total operating revenues: 50 Reprinted as at 1 November 2007 (iii) Public Finance Act 1989 Part 2 s 26K the balance between total operating expenses and total operating revenues: the level of total debt: the level of total net worth; and (iv) (v) explain how those long­term objectives accord with the principles of responsible ﬁscal management; and state the period to which those long­term objectives re­ late (which must be a period of 10 or more consecutive ﬁnancial years commencing with the ﬁnancial year to which the ﬁscal strategy report relates).
(b) (c) (2) The ﬁscal strategy report must also— (a) (ii) assess the consistency of the long­term objectives re­ ferred to in subsection (1)(a)— (i) with the long­term objectives in the most recent ﬁscal strategy report; or if the long­term objectives in the most recent ﬁs­ cal strategy report were amended in the budget policy statement most recently prepared under section 26M, with the long­term objectives stated in the statement; and (b) if the long­term objectives referred to in subsection (1)(a) are not consistent with the long­term objectives in the most recent ﬁscal strategy report or in the budget policy statement most recently prepared under section 26M, justify the departure of the long­term objectives referred to in subsection (1)(a) from the long­term objectives in the most recent ﬁscal strategy report or in the statement.
Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
26K Contents of ﬁscal strategy report: short­term intentions (1) The ﬁscal strategy report must, for the ﬁnancial year to which the report relates and at least the next 2 ﬁnancial years, indicate explicitly, by the use of ranges, ratios, or other means, the Government’s short­term intentions for each of the variables speciﬁed in section 26J(1)(a).
The ﬁscal strategy report must— (2) 51 Part 2 s 26K Public Finance Act 1989 Reprinted as at 1 November 2007 (a) (b) assess the consistency of the short­term intentions re­ ferred to in subsection (1) with— (i) the principles of responsible ﬁscal management; and the long­term objectives referred to in section 26J(1)(a); and (ii) if those short­term intentions are not consistent with the principles of responsible ﬁscal management or with the long­term objectives referred to in section 26J(1)(a) or with both, state— (i) the reasons for the departure of those short­term intentions from those principles or from those long­term objectives or from both; and the approach the Government intends to take to ensure that those short­term intentions become consistent with those principles and those long­ term objectives; and the period of time that is expected to elapse be­ fore those short­term intentions become consis­ tent with those principles and those long­term ob­ jectives.
(ii) (iii) The ﬁscal strategy report must also— (a) (ii) assess the consistency of the short­term intentions re­ ferred to in subsection (1)— (i) with the short­term intentions indicated in the most recent ﬁscal strategy report; or if the short­term intentions indicated in the most recent ﬁscal strategy report were amended in the budget policy statement most recently prepared under section 26M, with the short­term intentions indicated in the statement; and (b) if the short­term intentions referred to in subsection (1) are not consistent with the short­term intentions in the most recent ﬁscal strategy report or in the budget policy statement most recently prepared under section 26M, justify the departure of the short­term intentions referred to in subsection (1) from the short­term inten­ tions in the most recent ﬁscal strategy report or in the statement.
(3) 52 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 2 s 26L Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
26L Contents of ﬁscal strategy report: other matters (1) The ﬁscal strategy report must include— (a) an assessment of the extent to which the economic and ﬁscal update prepared under section 26O(1) is consis­ tent with the short­term intentions referred to in section 26K(1); and if the economic and ﬁscal update departs from those short­term intentions, an explanation of the reasons for the departure.
(b) (2) (3) The ﬁscal strategy report must also include— (a) scenarios that— (i) contain projections of trends in the variables speciﬁed in section 26J(1)(a) (which projections must illustrate, for stated signiﬁcant assump­ tions, likely future progress towards achieving the long­term objectives referred to in that sec­ tion); and explain the reasons for any signiﬁcant differences from previous scenarios; and (ii) (b) (c) an assessment of the consistency of the scenarios with the long­term objectives referred to in section 26J(1)(a); and if the scenarios depart from the long­term objectives referred to in section 26J(1)(a), an explanation of the reasons for the departure.
The projections required by subsection (2)(a)(i) must relate to the period to which the long­term objectives referred to in section 26J(1)(a) relate (which must be a period of 10 or more consecutive ﬁnancial years commencing with the ﬁnan­ cial year to which the ﬁscal strategy report relates).

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.
53 Part 2 s 26M Public Finance Act 1989 Reprinted as at 1 November 2007 Budget policy statement 26M Budget policy statement (1) The Minister must present to the House of Representatives a budget policy statement— (a) (b) not later than 31 March in each ﬁnancial year; or if Parliament is not in session on 31 March and a budget policy statement has not been presented in that ﬁnancial year, as soon as possible after the commencement of the next session of Parliament.
The budget policy statement must, for the ﬁnancial year com­ mencing on 1 July after the statement is presented, state the broad strategic priorities by which the Government will be guided in preparing the Budget for that ﬁnancial year, includ­ ing— (a) the overarching policy goals that will guide the Govern­ ment’s Budget decisions; and the policy areas that the Government will focus on in that year; and how the Budget for that year accords with the short­term intentions referred to in the most recent ﬁscal strategy report or the amended short­term intentions under sub­ section (3).
(b) (c) The budget policy statement must,— (a) if the long­term objectives referred to in section 26J(1)(a) have changed from those stated in the most recent ﬁscal strategy report, indicate those amended long­term objectives and explain how they accord with the principles of responsible ﬁscal management; and if the short­term intentions referred to in section 26K(1) have changed from those indicated in the most recent ﬁscal strategy report, indicate those amended short­term intentions and explain how they accord with the principles of responsible ﬁscal management and the long­term objectives in the most recent ﬁscal strategy report or the amended long­term objectives under paragraph (a).
(b) Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment (2) (3) 54 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 2 s 26O Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Statement on long­term ﬁscal position 26N Statement on long­term ﬁscal position (1) Before the end of the second ﬁnancial year after the com­ mencement of this section and then at intervals not exceeding 4 years,— (a) the Treasury must prepare a statement on the long­term ﬁscal position; and the Minister must present each statement to the House of Representatives.
(b) (2) The statement must— (a) (b) relate to a period of at least 40 consecutive ﬁnancial years commencing with the ﬁnancial year in which the statement is prepared; and be accompanied by— (i) a statement of responsibility signed by the Secre­ tary stating that the Treasury has, in preparing the statement under subsection (1), used its best pro­ fessional judgments about the risks and the out­ look; and a statement of all signiﬁcant assumptions under­ lying any projections included in the statement under subsection (1).
(ii) Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

Economic and ﬁscal updates 26O Economic and ﬁscal update (1) The Minister must, in accordance with subsection (2), present to the House of Representatives an economic and ﬁscal update prepared by the Treasury for each ﬁnancial year.
The Minister must present the economic and ﬁscal update im­ mediately after he or she has delivered the Budget for the ﬁ­ nancial year to which the update relates.
The update must— (2) (3) 55 Part 2 s 26P Public Finance Act 1989 Reprinted as at 1 November 2007 (a) (b) (b) the ﬁnancial year to which the update relates; and each of the next 2 ﬁnancial years; and contain economic and ﬁscal forecasts that relate to— (i) (ii) contain a statement of tax policy changes in accordance with section 26R; and be accompanied by a statement of responsibility.
(4) (c) The update must state— (a) the day on which the contents of the update were ﬁ­ nalised; or the days on which the contents of different speciﬁed aspects of the update were ﬁnalised.

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
26P Economic forecasts (1) The economic forecasts contained in the economic and ﬁscal update prepared under section 26O must, for each of the 3 ﬁ­ nancial years to which they relate, include forecasts of move­ ments in New Zealand’s— (a) gross domestic product (including the major compo­ nents of gross domestic product): consumer prices: unemployment and employment: current account position of the balance of payments.
(b) (c) (d) The economic forecasts must also include a statement of all signiﬁcant assumptions underlying the forecasts.

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
26Q Fiscal forecasts (1) The ﬁscal forecasts contained in the economic and ﬁscal up­ date prepared under section 26O must, for each of the 3 ﬁ­ nancial years to which they relate, include forecast ﬁnancial statements.
In addition to the forecast ﬁnancial statements required by sub­ section (1), the ﬁscal forecasts must include— (2) (2) 56 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 2 s 26Q (a) (b) a statement of borrowings that reﬂects the forecast bor­ rowing activities for each of those ﬁnancial years: any other statements that are necessary to fairly re­ ﬂect— (i) the forecast ﬁnancial operations for each of those ﬁnancial years; and the forecast ﬁnancial position at the end of each of those ﬁnancial years.
(ii) (3) The ﬁscal forecasts must also include— (a) (b) (c) (d) a statement of commitments from the most recent monthly ﬁnancial statements of the Government that are required to be prepared under section 31A; and a statement of speciﬁc ﬁscal risks of the Government as at the day on which the forecast ﬁnancial statements are ﬁnalised— (i) that sets out speciﬁc ﬁscal risks that relate to— (A) the Government decisions and other cir­ cumstances required by section 26U to be incorporated in the economic and ﬁscal update prepared under section 26O; and any other contingent liabilities (including any guarantees or indemnities given under any Act); and (B) (ii) that discloses the rules used to determine what is and is not a ﬁscal risk; and a statement of all signiﬁcant accounting policies (in­ cluding any changes from the accounting policies con­ tained in the annual ﬁnancial statements of the Govern­ ment most recently presented to the House of Represen­ tatives or published under section 31); and in relation to each forecast ﬁnancial statement required by subsections (1) and (2)(a) and, if appropriate, sub­ section (2)(b),— (i) comparative budgeted and estimated actual ﬁg­ ures for the ﬁnancial year immediately before the ﬁrst of the ﬁnancial years to which the ﬁscal fore­ casts relate; and 57 Part 2 s 26R Public Finance Act 1989 Reprinted as at 1 November 2007 (ii) comparative actual ﬁgures for the ﬁnancial year that is 2 years before the ﬁrst of the ﬁnancial years to which the ﬁscal forecasts relate; and a statement of all signiﬁcant assumptions underlying the ﬁscal forecasts; and a statement that shows the sensitivity of the ﬁscal ag­ gregates to changes in economic conditions.
(e) (f) The ﬁscal forecasts must be for the same reporting entity as the annual ﬁnancial statements of the Government to be prepared under section 27 for the ﬁrst of the ﬁnancial years to which the ﬁscal forecasts relate.

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(4) 26R Annual statement of tax policy changes (1) The statement of tax policy changes contained in the economic and ﬁscal update prepared under section 26O must set out— a summary and quantitative assessment of tax policy (a) changes that have resulted in a material change to the tax revenue forecasts for the ﬁnancial year to which the update relates and at least the next 2 ﬁnancial years; and the basis for determining whether or not a particular tax policy change should be included in that summary.
(b) In this section, tax policy change includes— (a) a change in tax legislation that has been enacted since the most recent statement of tax policy changes pre­ pared under this section; and a proposed change in tax legislation that has been ap­ proved by the Government (whether set out in a Bill that has been introduced into the House of Representa­ tives or otherwise).
(b) Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(2) 58 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 2 s 26T 26S Half­year economic and ﬁscal update (1) The Minister must, not earlier than 1 November nor later than 31 December in each ﬁnancial year,— (a) arrange to be published a half­year economic and ﬁscal update prepared by the Treasury; and present the update to the House of Representatives.
(b) (2) However, if a half­year economic and ﬁscal update has not been presented by 31 December in a ﬁnancial year because Parliament has not been in session since the date that the up­ date was published, the Minister must present the half­year economic and ﬁscal update as soon as possible after the next meeting of Parliament.
The half­year economic and ﬁscal update must— by (a) required (3) the information include sections 26O(3)(a) and (4), 26P, 26Q, and 26U to be included in the economic and ﬁscal update prepared under section 26O, except that— (i) the reference to estimated actual ﬁgures in sec­ tion 26Q(3)(d)(i) must be read as if it were a ref­ erence to actual ﬁgures; and the ﬁgures 26Q(3)(d)(ii) are not required; and be accompanied by a statement of responsibility.
required section actual (ii) by (b) (4) However, the Minister is not required to arrange the publica­ tion of the half­year economic and ﬁscal update in any ﬁnan­ cial year if, in the period of that ﬁnancial year beginning on 1 October and ending on 31 December, a pre­election economic and ﬁscal update— (a) (b) Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

has been published under section 26T; or is required to be published under that section.
26T Pre­election economic and ﬁscal update (1) The Minister must, not earlier than 30 working days, nor later than 20 working days, before the day appointed as polling day in relation to any general election of members of the House of 59 Part 2 s 26T Public Finance Act 1989 Reprinted as at 1 November 2007 Representatives, arrange to be published a pre­election eco­ nomic and ﬁscal update prepared by the Treasury.
The pre­election economic and ﬁscal update must,— (a) except as provided in subsection (3), include the in­ formation required by sections 26O(3)(a) and (4), 26P, 26Q, and 26U to be included in the economic and ﬁscal update prepared under section 26O; and be accompanied by a statement of responsibility.
(b) If, before the day on which a pre­election economic and ﬁscal update is required to be published under this section, the an­ nual ﬁnancial statements of the Government for the ﬁnancial year immediately before the ﬁrst of the ﬁnancial years to which the ﬁscal forecasts relate have been presented to the House of Representatives or published under section 31,— (a) the reference to estimated actual ﬁgures in section 26Q(3)(d)(i) must be read as if it were a reference to actual ﬁgures; and the actual ﬁgures required by section 26Q(3)(d)(ii) are not required.
(b) If the day of the dissolution of Parliament is less than 30 work­ ing days before the day appointed as polling day in relation to the general election of members of the House of Representa­ tives, the Minister must arrange for the pre­election economic and ﬁscal update required under this section to be published not later than 10 working days after the day of the dissolution of Parliament.
The Minister must, as soon as possible after the next meeting of Parliament, present to the House of Representatives a copy of the update published under this section.

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(2) (3) (4) (5) 60 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 2 s 26V Disclosure requirements for economic and ﬁscal updates 26U Disclosure of policy decisions and other circumstances that may inﬂuence future ﬁscal situation (2) (1) An economic and ﬁscal update prepared under section 26O or section 26S or section 26T must incorporate, to the fullest ex­ tent possible that is consistent with section 26V, all Govern­ ment decisions and all other circumstances that may have a material effect on the ﬁscal and economic outlook.
If the ﬁscal implications of Government decisions and other circumstances referred to in subsection (1) can be quantiﬁed for particular years with reasonable certainty by the day on which the forecast ﬁnancial statements are ﬁnalised, the quan­ tiﬁed ﬁscal implications of those Government decisions and other circumstances must be included in the forecast ﬁnancial statements.
If the ﬁscal implications of Government decisions and other circumstances referred to in subsection (1) cannot be quan­ tiﬁed for or assigned to particular years with reasonable cer­ tainty by the day on which the forecast ﬁnancial statements are ﬁnalised, those Government decisions and other circum­ stances must be disclosed in the statement of speciﬁc ﬁscal risks of the Government required by section 26Q(3)(b).
Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(3) 26V Limits on disclosure requirements Sections 26Q(2)(b) and 26U(1) do not apply to a decision, circumstance, or statement if the Minister, together with any other Minister designated for the purpose of this section, de­ termines that— (a) to incorporate that decision, circumstance, or statement in an economic and ﬁscal update is likely— (i) to prejudice the substantial economic interests of New Zealand; or 61 Part 2 s 26W Public Finance Act 1989 Reprinted as at 1 November 2007 (ii) (iii) (iv) to prejudice the security or defence of New Zealand or the international relations of the Gov­ ernment; or to compromise the Government in a material way in negotiation, litigation, or commercial activity; or to result in material loss of value to the Govern­ ment; and (b) there is no reasonable or prudent way the Government can avoid this prejudice, compromise, or material loss,— (i) in the case of a circumstance, by making a deci­ sion before the day on which the forecast ﬁnan­ cial statements are ﬁnalised; or in the case of a decision or circumstance, by in­ corporating in the update the ﬁscal implications of that decision or circumstance, or the nature of that decision or circumstance, but without refer­ ence to its ﬁscal implications; or in the case of a statement, by incorporating that statement in the update.
(ii) (iii) Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Statement of responsibility 26W Requirements for statement of responsibility (1) The statement of responsibility required by section 26O or sec­ tion 26S or section 26T must be signed by— (a) (b) the Minister; and any other Minister designated for all or any of the pur­ poses of subsection (2)(a) to (c); and the Secretary.
(c) The statement of responsibility must comprise— (a) a statement by the Minister, and any other Minister des­ ignated for the purpose of this paragraph, that the fol­ lowing matters have been communicated to the Secre­ tary: (2) 62 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 2 s 26W (i) (ii) all policy decisions with material economic or ﬁscal implications that the Government has made before the day on which the contents of an eco­ nomic and ﬁscal update or of the relevant aspect of the update were ﬁnalised; and all other circumstances with material economic or ﬁscal implications of which the Minister and that other Minister (if any) were aware before that day; and (b) a statement by the Secretary that the Treasury has sup­ plied to the Minister, and to any other Minister desig­ nated for the purpose of this paragraph, an economic and ﬁscal update— (i) that incorporates the ﬁscal and economic impli­ cations of the decisions and circumstances re­ ferred to in paragraph (a); but that does not incorporate any decisions, circum­ stances, or statements that the Minister and any other Minister designated for the purpose of section 26V have determined under that section should not be incorporated in that update; and (ii) (c) (ii) a statement of the responsibility of the Minister, and of any other Minister designated for all or any of the purposes of this paragraph and paragraphs (a) and (b),— for the integrity of the disclosures contained in (i) the update; and for the consistency with the requirements of this Part of the information contained in the update; and for the omission from the update under section 26V of any decision, circumstance, or statement.
The statement referred to in subsection (2)(b) must be accom­ panied by a statement that the economic and ﬁscal update has been prepared by the Treasury— (a) (b) using its best professional judgments; and on the basis of economic and ﬁscal information avail­ able to it before the day on which the contents of the up­ date or the relevant aspect of the update were ﬁnalised.
(iii) (3) 63 Part 2 s 26X Public Finance Act 1989 Reprinted as at 1 November 2007 Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Miscellaneous 26X Certain statements and updates may be published in advance of presentation to House of Representatives The Minister may arrange for the following to be published in advance of their being presented to the House of Representa­ tives: (a) (b) a budget policy statement under section 26M(1): a half­year economic and ﬁscal update under section 26S(1): a pre­election economic and ﬁscal update under section 26T(1).
(c) Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
26Y Notiﬁcation and availability of reports, statements, or updates The Minister or, as the case may be, the Secretary must ar­ range to be published in the Gazette a notice about each of the following: (a) a ﬁscal strategy report presented to the House of Repre­ sentatives under section 26I(1): a budget policy statement presented to the House of Representatives under section 26M(1) or published under section 26X: a statement on the long­term ﬁscal position presented to the House of Representatives under section 26N(1): an economic and ﬁscal update presented to the House of Representatives under section 26O(1): a half­year economic and ﬁscal update presented to the House of Representatives under section 26S(1) or pub­ lished under section 26X: a pre­election economic and ﬁscal update published under section 26T(1).
(b) (c) (d) (e) (f) (1) 64 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 2 s 26Z (2) (3) The notice must— (a) indicate where copies of the report, statement, or update are available— (i) for inspection by members of the public free of charge at the place where the notice indicated they would be available; and for purchase by members of the public at the place where the notice indicated they would be available; and (ii) (b) in the case of a statement or update referred to in section 26X, indicate whether the statement or update has been published in advance of being presented to the House of Representatives.
The Secretary must, for at least 6 months after the date of the publication of the notice, arrange for copies of the report, state­ ment, or update referred to in that notice to be available— (a) for inspection by members of the public free of charge; and for purchase by members of the public.

(b) Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

26Z Power of Secretary to obtain information (1) The Secretary may request any department or any entity re­ ferred to in section 27(3)(a) to (f), or any entity that manages an asset or liability of the Government, to supply to the Secre­ tary any information that is necessary to enable the preparation of any ﬁscal forecasts and projections referred to in sections 26L, 26N, 26O, 26Q, 26S, and 26T.
(2) A request under subsection (1)— (a) must be in writing; and (b) may state the date by which, and the manner in which, the information requested must be provided.

(3) If a date is stated under subsection (2)(b), that date must be reasonable having regard to the time limits prescribed by this Act for presenting to the House of Representatives, or for pub­ 65 Part 3 s 27 Public Finance Act 1989 Reprinted as at 1 November 2007 lishing, the report or update for which the information is being requested.
(4) A department or entity to whom the request is made must com­ ply with the request.

Parts 1 and 2 (sections 4 to 26A) were substituted by new Parts 1 and 2 (sections 4 to 26Z), as from 25 January 2005, by section 7 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

Part 3 Reporting by Government reporting entity The heading to Part 3 was substituted, as from 25 January 2005, by section 8 Public Finance Amendment Act 2004 (2004 No 113).
The previous heading read “Reporting by Crown”.

See sections 32 to 36 of that Act as to the transi­ tional provisions.

Annual ﬁnancial statements of Government The Treasury must, as soon as practicable after the end of each ﬁnancial year, prepare annual consolidated ﬁnancial statements for the Government reporting entity for that ﬁnan­ cial year.
The annual ﬁnancial statements of the Government must— (a) be prepared in accordance with generally accepted ac­ counting practice; and include the forecast ﬁnancial statements prepared under section 26Q, for comparison with the actual ﬁnancial statements; and include, in addition to those ﬁnancial statements re­ quired by generally accepted accounting practice,— (i) (b) (c) reﬂects the a statement of borrowings that borrowing activities for that year, including budgeted ﬁgures for that year and comparative actual ﬁgures for the previous ﬁnancial year: a statement of unappropriated expenses and cap­ ital expenditure: a statement of emergency expenses and capital expenditure incurred under section 25: a statement of trust money administered by de­ partments and Ofﬁces of Parliament: (ii) (iii) (iv) 27 (1) (2) 66 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 3 s 28 (3) (v) information and explanations any additional needed to fairly reﬂect the consolidated ﬁnancial operations of the Government reporting entity for the ﬁnancial year and its consolidated ﬁnan­ cial position at the end of that year.
The annual ﬁnancial statements of the Government must in­ clude the Government reporting entity’s interests in— (a) all Crown entities named or described in the Crown Entities Act 2004: all organisations named or described in Schedule 4: all State enterprises named in the Schedule 1 of the State­Owned Enterprises Act 1986: all Ofﬁces of Parliament: the Reserve Bank of New Zealand: any other entity whose ﬁnancial statements must be consolidated into the ﬁnancial statements of the Gov­ ernment reporting entity to comply with generally ac­ cepted accounting practice.
(b) (c) (d) (e) (f) Subsection (1) was amended, as from 21 December 1992, by section 17(1) Pub­ lic Finance Amendment Act 1992 (1992 No 142) by omitting the word “con­ solidated”.

Subsection (2)(e) was substituted, as from 21 December 1992, by section 17(2) and (4) Public Finance Amendment Act 1992 (1992 No 142).

Subsection (2)(f) was amended, as from 21 December 1992, by section 17(3) of the same Act by inserting the words “or indemnities”.
Subsection (2)(g) and (h) were substituted, as from 21 December 1992, by sec­ tion 17(2) and (4) Public Finance Amendment Act 1992 (1992 No 142).

Subsections (2)(g) and (2)(h) were further substituted, as from 1 July 1994, by section 20(1) Public Finance Amendment Act 1994 (1994 No 18).

Subsection (2)(l) was substituted, and subsection (2)(m) was inserted, as from 1 July 1994, by section 20(2) Public Finance Amendment Act 1994 (1994 No 18).
Subsection (3) was substituted, as from 21 December 1992, by section 17(5) Public Finance Amendment Act 1992 (1992 No 142).

Section 27 was substituted, as from 25 January 2005, by section 9 Public Fi­ nance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

28 Half­year ﬁnancial statements of the Crown [Repealed] Section 28 was substituted, as from 21 December 1992, by section 18 Public Finance Amendment Act 1992 (1992 No 142).
67 Part 3 s 29 Public Finance Act 1989 Reprinted as at 1 November 2007 Section 28 was further substituted, as from 1 July 1994, by section 21(1) Public Finance Amendment Act 1994 (1994 No 18).

Section 28 was repealed, as from 12 December 2000, by section 4 Public Fi­ nance Amendment Act 2000 (2000 No 78).
29 (1) (2) Responsibility for annual ﬁnancial statements of Government Every annual ﬁnancial statement shall be accompanied by a statement of responsibility signed by the Minister, any other Minister designated by the Prime Minister for either or both of the purposes of paragraphs (a) and (d) of subsection (2), and the Secretary.
The statement of responsibility shall comprise— (a) A statement of the responsibility of the Minister, and of any other Minister designated by the Prime Minister for the purpose of this paragraph, for the integrity of the ﬁnancial statements; and (c) (b) A statement of the Treasury’s responsibility for estab­ lishing and maintaining a system of internal control de­ signed to provide reasonable assurance that the transac­ tions recorded are within statutory authority and prop­ erly record the use of all public ﬁnancial resources by the Government reporting entity; and A statement by the Secretary that the Treasury has pre­ pared the ﬁnancial statements in accordance with gen­ erally accepted accounting practice; and a statement that, in the opinion of the Minister, and of any other Minister designated by the Prime Minister for the purpose of this paragraph, the ﬁnancial statements fairly reﬂect the consolidated ﬁnancial position and op­ erations of the Government reporting entity for the re­ porting period.
(d) Section 29 was substituted, as from 1 July 1994, by section 22 Public Finance Amendment Act 1994 (1994 No 18).

The heading to section 29 was amended, as from 25 January 2005, by section 10(1) Public Finance Amendment Act 2004 (2004 No 113) by substituting the words “annual ﬁnancial statements of Government” for the words “ﬁnancial statements of the Crown”.

See sections 32 to 36 of that Act as to the transitional provisions.
Subsection (1) was substituted, as from 25 June 1997, by section 2 Treasurer (Statutory References) Act 1997 (1997 No 20).

68 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 3 s 29A Subsection (1) was amended as from 12 December 2000, by section 5 Public Finance Amendment Act 2000 (2000 No 78), by omitting the words “and half year”.

Subsection (2)(a) and (d) were substituted, as from 25 June 1997, by section 2 Treasurer (Statutory References) Act 1997 (1997 No 20).
Subsection (2)(b) was amended, as from 25 January 2005, by section 10(2) Pub­ lic Finance Amendment Act 2004 (2004 No 113) by substituting the words “Government reporting entity” for the word “Crown”.

See sections 32 to 36 of that Act as to the transitional provisions.

Subsection (2)(d) was substituted, as from 25 January 2005, by section 10(3) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
29A Power of Secretary to obtain information (1) The Secretary may request any department or any entity re­ ferred to in section 27(3)(a) to (f), or any entity that manages an asset or liability of the Government reporting entity that is included in the annual ﬁnancial statements referred to in sec­ tion 27, to supply to the Secretary any information that is ne­ cessary to enable— (a) the preparation of those ﬁnancial statements and the monthly ﬁnancial statements referred to in section 31A; or the Minister or the Secretary to meet their obligations under section 29.
(b) (2) A request under subsection (1)— (3) (a) must be in writing; and (b) may state the date by which, and the manner in which, the information requested must be provided.

If a date is stated under subsection (2)(b), that date must be reasonable having regard to the time limits prescribed by this Act for presenting to the House of Representatives, or for pub­ lishing, the annual or monthly ﬁnancial statements of the Gov­ ernment.
(4) A department or entity to whom the request is made must com­ ply with the request.

Section 29A was inserted, as from 21 December 1992, by section 19 Public Finance Amendment Act 1992 (1992 No 142).

Subsection (1)(a) was substituted, as from 1 July 1994, by section 23 Public Finance Amendment Act 1994 (1994 No 18).
69 Part 3 s 29B Public Finance Act 1989 Reprinted as at 1 November 2007 Subsection (1) was amended as from 12 December 2000, by section 6(1) Public Finance Amendment Act 2000 (2000 No 78), by omitting the words “or half­ yearly”.

Subsection (1)(a) was amended as from 12 December 2000, by section 6(2) Pub­ lic Finance Amendment Act 2000 (2000 No 78), by omitting the expression “, 28”.
Subsection (1)(b) was substituted, as from 25 June 1997, by section 2 Treasurer (Statutory References) Act 1997 (1997 No 20).

Section 29A was substituted, as from 25 January 2005, by section 11 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
29B Auditor­General to be auditor of Government reporting entity For the purposes of this Act the Government reporting entity is a public entity as deﬁned in section 4 of the Public Audit Act 2001 and, in accordance with that Act, the Auditor­General is its auditor.

Section 29B was inserted, as from 1 July 2001, by section 53 Public Audit Act 2001 (2001 No 10).
The heading to section 29B was amended, as from 25 January 2005, by section 12(1) Public Finance Amendment Act 2004 (2004 No 113) by substituting the words “Government reporting entity” for the word “Crown”.

See sections 32 to 36 of that Act as to the transitional provisions.

Section 29B was amended, as from 25 January 2005, by section 12(2) Public Finance Amendment Act 2004 (2004 No 113) by substituting the words “Gov­ ernment reporting entity” for the word “Crown”.
See sections 32 to 36 of that Act as to the transitional provisions.

Audit report The Treasury must forward the annual ﬁnancial statements of the Government to the Auditor­General not later than the end of the second month following the end of the ﬁnancial year to which those statements relate.

The Auditor­General must— (a) audit the annual ﬁnancial statements of the Govern­ ment; and provide an audit report on those statements to the Treas­ ury within 30 days after receiving them.
(b) Subsection (1) was amended, as from 21 December 1992, by section 20 Public Finance Amendment Act 1992 (1992 No 142) by omitting the words “or half­ yearly” at both places where they occurred.

30 (1) (2) 70 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 3 s 31A Subsection (2) was repealed, as from 1 July 2001, by section 53 Public Audit Act 2001 (2001 No 10).

Sections 30 to 31A were substituted, as from 25 January 2005, by section 13 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

31 (1) (2) (3) Annual ﬁnancial statements must be presented to House of Representatives The Treasury must forward the annual ﬁnancial statements of the Government and the audit report to the Minister.
The Minister must present the annual ﬁnancial statements and the audit report, together with the statement of responsibility, to the House of Representatives— (a) not later than 10 working days after the Treasury re­ ceives the audit report; or if Parliament is not in session, as soon as possible after the commencement of the next session of Parliament.
(b) The Minister must arrange for the annual ﬁnancial statements, the audit report, and the statement of responsibility to be pub­ lished— (a) as soon as practicable after they have been presented to the House of Representatives; but in any case, not later than 15 working days after the audit report is provided to the Treasury.

(b) Section 31 was substituted, as from 21 December 1992, by section 21 Public Finance Amendment Act 1992 (1992 No 142).
Section 31 was further substituted, as from 1 July 1994, by section 24(1) Public Finance Amendment Act 1994 (1994 No 18).

Section 31 was substituted as from 12 December 2000, by section 7 Public Finance Amendment Act 2000 (2000 No 78).

Sections 30 to 31A were substituted, as from 25 January 2005, by section 13 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
31A Monthly ﬁnancial statements of Government (1) The Treasury must, as soon as practicable after the end of each month (except the ﬁrst 2 months and the last month) in each ﬁnancial year, prepare consolidated ﬁnancial statements for the Government reporting entity for the period of the ﬁnancial year to the end of the month concerned.
71 Part 3 s 31A Public Finance Act 1989 Reprinted as at 1 November 2007 The monthly ﬁnancial statements must— (a) be prepared in accordance with generally accepted ac­ counting practice; and include, in addition to those ﬁnancial statements re­ quired by generally accepted accounting practice,— (i) (b) (ii) (iii) a statement of borrowings that reﬂects the bor­ rowing activities for the period of the ﬁnancial year to the end of the month concerned: any additional information and explanations needed to fairly reﬂect the consolidated ﬁnancial operations of the Government reporting entity for the period of the ﬁnancial year to the end of the month concerned and the consolidated ﬁnancial position at the end of that month: in relation to the ﬁnancial statements required by generally accepted accounting practice and the statement required by subparagraph (i),— (A) budgeted ﬁgures for the period of the ﬁ­ nancial year to the end of the month con­ cerned: comparative actual ﬁgures for the period of the previous ﬁnancial year to the end of the corresponding month.
(B) The monthly ﬁnancial statements prepared under subsection (1) must be for the same Government reporting entity as the annual ﬁnancial statements prepared under section 27 for the ﬁnancial year to which the monthly ﬁnancial statements relate.
The Minister must arrange for the monthly ﬁnancial state­ ments to be published not later than,— (a) in the case of the ﬁnancial statements to the end of November, the last day of January in the following year; and in the case of the ﬁnancial statements to the end of De­ cember, the last day of February in the following year; and in any other case, 6 weeks after the end of the period to which they relate.
(b) (c) Section 31A was inserted, as from 1 July 1994 by section 25 Public Finance Amendment Act 1994 (1994 No 18).

(2) (3) (4) 72 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 3 s 31B Subsection (1) was amended as from 12 December 2000, by section 8(1) Public Finance Amendment Act 2000 (2000 No 78), by inserting the word “Decem­ ber” after the word “November”.
Subsection (4) was amended as from 12 December 2000, by section 8(2) Public Finance Amendment Act 2000 (2000 No 78), by substituting the words “months of November and December” for the words “month of November”.

Subsections (6) and (7) were inserted as from 12 December 2000, by section 8(3) Public Finance Amendment Act 2000 (2000 No 78).

Sections 30 to 31A were substituted, as from 25 January 2005, by section 13 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.
(1) 31B Publication, inspection, and purchase of ﬁnancial statements of Government reporting entity The Minister shall, in respect of the annual and monthly con­ solidated ﬁnancial statements for the Government reporting entity required by sections 27 and 31A of this Act, arrange for publication in the Gazette of a notice— (a) Indicating, where the ﬁnancial statements are published in advance of or without being laid before the House of Representatives, that the ﬁnancial statements have been published; and Showing where copies of the ﬁnancial statements are available for inspection free of charge; and Showing where copies of the ﬁnancial statements are available for purchase.
(b) (c) (2) The Secretary shall, for at least 6 months after the date of the publication of the notice required by subsection (1) of this section, cause copies of the ﬁnancial statements of the Gov­ ernment reporting entity referred to in that notice to be avail­ able— (a) For inspection by members of the public free of charge; and For purchase by members of the public.

(b) Section 31B was inserted, as from 1 July 1994, by section 26 Public Finance Amendment Act 1994 (1994 No 18).
The heading to section 31B was amended, as from 25 January 2005, by section 14(1) Public Finance Amendment Act 2004 (2004 No 113) by substituting the words “Government reporting entity” for the words “the Crown”.

See sections 32 to 36 of that Act as to the transitional provisions.
73 Part 3 s 32 Public Finance Act 1989 Reprinted as at 1 November 2007 Subsection (1) was amended, as from 12 December 2000, by section 9 Public Finance Amendment Act 2000 (2000 No 78) by omitting the word “half year”, and by omitting the expression “, 28”.
Subsection (1) was amended, as from 25 January 2005, by section 14(2)(a) Pub­ lic Finance Amendment Act 2004 (2004 No 113) by substituting the words “consolidated ﬁnancial statements for the Government reporting entity” for the words “ﬁnancial statements of the Crown”.

See sections 32 to 36 of that Act as to the transitional provisions.
Subsection (1)(b) and (c) was amended, as from 25 January 2005, by section 14(2)(c) Public Finance Amendment Act 2004 (2004 No 113) by substituting the word “where” for the words “a place at which”.

See sections 32 to 36 of that Act as to the transitional provisions.

Subsection (2) was amended, as from 25 January 2005, by section 14(2)(b) Pub­ lic Finance Amendment Act 2004 (2004 No 113) by substituting the words “Government reporting entity” for the word “Crown”.
See sections 32 to 36 of that Act as to the transitional provisions.

32 Monthly cash ﬂow statements [Repealed] Section 32 was repealed, as from 21 December 1992, by section 22 Public Fi­ nance Amendment Act 1992 (1992 No 142).
32A Additional reports in relation to non­departmental appropriations This section applies if, in any ﬁnancial year, an Appropriation Act— (a) lists an appropriation or a class of outputs within an appropriation for which expenses or capital expenditure are to be incurred other than by departments or Ofﬁces of Parliament; and states that the appropriation or class of outputs is, in whole or part, subject to this section.
(b) The Minister responsible for each appropriation or class of outputs must, within 3 months of the end of that ﬁnancial year, prepare and present to the House of Representatives a report that complies with subsection (3).
The report must include— (a) a statement of service performance prepared in accord­ ance with generally accepted accounting practice in relation to that appropriation or class of outputs that compares the service performance that was achieved (1) (2) (3) 74 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 4 s 33 (b) with the service performance that was forecast to be achieved; or if the type and scope of the appropriation is such that a statement of service performance is inappropriate, a statement of the results produced or achieved in relation to that appropriation that compares those results with the results that were forecast to be produced or achieved from the expenses or capital expenditure.
(4) The report must also compare the actual expenses or capital expenditure incurred in relation to that appropriation or class of outputs with the expenses or capital expenditure that were appropriated or forecast to be incurred.
(5) Despite subsection (3), the report does not need to include a statement of service performance in relation to a part of an appropriation or a class of outputs on which another entity is required to report in its statement of service performance if an Appropriation Act that lists the appropriation or class of outputs so provides.

The Minister responsible for the appropriation or class of out­ puts must arrange for the report to be published if he or she is requested to do so by the Minister.
Section 32A was inserted, as from 21 December 1992, by section 23(1) Public Finance Amendment Act 1992 (1992 No 142).

(6) Section 32A was substituted, as from 1 July 1994, by section 27 Public Finance Amendment Act 1994 (1994 No 18).

Section 32A was substituted, as from 25 January 2005, by section 15 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Part 4 Reporting by departments Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
33 Interpretation In this Part, any activities, bodies, or statutory ofﬁces that are funded by way of appropriation and that are not natural per­ 75 Part 4 s 34 Public Finance Act 1989 Reprinted as at 1 November 2007 34 sons or separate legal entities must be taken to be part of a department.

Subsection (4) was repealed, as from 21 December 1992, by section 24 Public Finance Amendment Act 1992 (1992 No 142).
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Responsibilities of chief executives Responsibilities of departmental chief executives: ﬁnancial management The chief executive of a department— (a) is responsible to the Responsible Minister for the ﬁnan­ cial management and ﬁnancial performance of the de­ partment; and (b) must comply with any lawful ﬁnancial actions required by the Minister or the Responsible Minister.

Section 34 was substituted, as from 21 December 1992, by section 25 Public Finance Amendment Act 1992 (1992 No 142).
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

34A Forecast ﬁnancial statements of departments [Repealed] Section 34A was inserted, as from 1 July 1994, by section 28(1) Public Finance Amendment Act 1994 (1994 No 18).
See also section 28(2) of that Act relating to forecast ﬁnancial statements of departments.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Responsibilities of departmental chief executives: reporting The chief executive of a department is responsible to the Re­ sponsible Minister for ensuring that the department complies with the reporting requirements imposed on the department by or under this or any other Act.

35 76 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 4 s 36 Subsection (2) was substituted, as from 1 July 1994, by section 29(1) Public Finance Amendment Act 1994 (1994 No 18).
Subsection (3)(d) and (e) were substituted, as from 1 July 1994, by section 29(2) Public Finance Amendment Act 1994 (1994 No 18).

See section 29(6) Pub­ lic Finance Amendment Act 1994 (1994 No 18) which provides that section 35(3) of the principal Act shall have effect in relation to the ﬁnancial year com­ mencing on the 1st day of July 1994 as if section 29(2) of that Act had not been enacted.
Subsection (3)(g) was substituted, as from 1 July 1994, by section 29(3) Public Finance Amendment Act 1994 (1994 No 18).

Subsections (3)(h) to (k) were substituted, as from 21 December 1992, and para­ graph (l) was inserted, as from 21 December 1992, by section 26(1) Public Fi­ nance Amendment Act 1992 (1992 No 142).

Subsections (3)(h) to (l) were substituted, and subsection (m) was inserted, as from 1 July 1994, by section 29(3) Public Finance Amendment Act 1994 (1994 No 18).
See section 29(6) Public Finance Amendment Act 1994 (1994 No 18) which provides that section 35(3) of the principal Act shall have effect in rela­ tion to the ﬁnancial year commencing on the 1st day of July 1994 as if section 29(2) of that Act had not been enacted.

Subsection (4) was amended, as from 21 December 1992, by section 26(2) Pub­ lic Finance Amendment Act 1992 (1992 No 142) by omitting the words “or programmes”.
Subsection (4) was repealed, as from 1 July 1994, by section 29(4) Public Fi­ nance Amendment Act 1994 (1994 No 18).

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Departmental chief executives not responsible for ﬁnancial performance of other entities The chief executive of a department is not responsible for the outputs or ﬁnancial performance of a Crown entity named or described in the Crown Entities Act 2004, an organisation named or described in Schedule 4, or a State enterprise named in the Schedule 1 of the State­Owned Enterprises Act 1986, even though the Crown entity, organisation, or State enterprise is wholly or partly funded through a Vote administered by the department.
Section 36 was repealed, as from 21 December 1992, by section 27 Public Fi­ nance Amendment Act 1992 (1992 No 142).

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
77 36 Part 4 s 37 Public Finance Act 1989 Reprinted as at 1 November 2007 Power of chief executives to obtain information 37 (1) Power of departmental chief executives to obtain information The chief executive of a department may request any speciﬁed person to supply to the chief executive any information that is necessary to enable the chief executive to carry out his or her responsibilities in relation to the department under sections 34 and 35.
(2) A request under subsection (1)— (a) must be in writing; and (b) may state the date by which, and the manner in which, the information requested must be provided.

(3) If a date is stated under subsection (2)(b), that date must be reasonable, having regard to the time limits prescribed by this Act or any other Act for the department to discharge its report­ ing obligations.

(4) A speciﬁed person to whom the request is made must comply with the request.
(5) Nothing in this section limits or affects the privilege against self­incrimination.

In this section, speciﬁed person means a person who is respon­ sible for any activities, bodies, or statutory ofﬁces that, under section 33, are taken to be part of a department.

Subsection (1) was amended, as from 21 December 1992, by section 28 Public Finance Amendment Act 1992 (1992 No 142) by omitting the words “or half­ yearly”.
Subsection (1) was substituted, as from 1 July 1994, by section 30(1) Public Finance Amendment Act 1994 (1994 No 18).

Subsection (2) was amended, as from 1 July 1994, by section 30(2) Public Fi­ nance Amendment Act 1994 (1994 No 18) by substituting the words “statement of responsibility” for the words “management statement”.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(6) 78 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 4 s 38 Reporting requirements—information on future operating intentions 38 Departments must provide information on future operating intentions (1) A department must, before the start of each ﬁnancial year and not later than the date speciﬁed by its Responsible Minister, provide information on the department’s future operating in­ tentions.
The information must relate to the forthcoming ﬁnancial year and, for the purposes of section 40, to at least the next 2 ﬁnan­ cial years.

(2) (3) However, if the Government has announced that the depart­ ment is to be disestablished or signiﬁcantly restructured dur­ ing the period referred to in subsection (2), the department may, with the agreement of its Responsible Minister and the Minister, provide information under subsection (1) for a lesser period.
The department must provide the information to its Responsi­ ble Minister who must forward a copy of it to,— (a) (4) in the case of an intelligence and security department, the members of the Intelligence and Security Com­ mittee established under the Intelligence and Security Committee Act 1996 as soon as practicable after the introduction of the ﬁrst Appropriation Bill that relates to the ﬁnancial year; or in the case of any other department, the Minister in time for him or her to present the information, as required by section 39.
(b) Subsection (1) was amended, as from 21 December 1992, by section 29 Public Finance Amendment Act 1992 (1992 No 142) by omitting the words “or half­ yearly”.

Subsection (2) was amended, as from 1 July 2001, by section 53 Public Audit Act 2001 (2001 No 10) by substituting the words “the Public Audit Act 2001” for the words “Part 2 of the Public Finance Act 1977”.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
79 Part 4 s 39 Public Finance Act 1989 Reprinted as at 1 November 2007 39 (1) (2) Obligation to present and publish information on future operating intentions The Minister must present the information for each depart­ ment (other than an intelligence and security department) to the House of Representatives immediately after he or she has delivered the Budget for the ﬁnancial year to which the infor­ mation relates.
The information presented under subsection (1) must— (a) be taken to have been presented by the Responsible Minister concerned; and be accompanied by— (i) (b) a statement signed by the Responsible Minis­ ter stating that the information is consistent with the policies and performance expectations of the Government; and if section 38(3) applies, the explanation of the Responsible Minister as to why the information was not presented for the period referred to in section 38(2).
(ii) (3) As soon as practicable after the information is presented under subsection (1), the department concerned must publish the in­ formation in accordance with the manner (if any)— prescribed by regulations made under this Act; or (a) (b) speciﬁed in instructions issued under this Act.

Subsection (1) was amended, as from 1 July 1994, by section 31(1) Public Fi­ nance Amendment Act 1994 (1994 No 18) by substituting the words “statement of responsibility” for the words “management statement”.
Subsection (2) was amended, as from 21 December 1992, by section 30(a) Pub­ lic Finance Amendment Act 1992 (1992 No 142) by substituting the words “lay it before” for the words “table it in”.

Subsection (2A) was inserted, as from 1 July 1994, by section 31(2) Public Finance Amendment Act 1994 (1994 No 18).

Subsection (3) was repealed, as from 21 December 1992, by section 30(b) Pub­ lic Finance Amendment Act 1992 (1992 No 142).
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
80 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 4 s 40 40 Requirements for information on future operating intentions The information required under section 38 must set out and explain for the period to which it relates— (a) (b) (c) (d) (e) the nature and scope of the department’s functions and intended operations; and the speciﬁc impacts, outcomes, or objectives that the department seeks to achieve or to contribute to through its operations; and how the department intends to— (i) perform its functions and conduct its operations to achieve those impacts, outcomes, or object­ ives; and effectively manage those functions and oper­ ations within a changeable operating environ­ ment; and (ii) the main measures and standards that the department in­ tends to use to assess and report on matters relating to the department’s future performance, including, with­ out limitation, the following matters: (i) the impacts, outcomes, or objectives achieved or contributed to by the department (including pos­ sible unintended impacts or negative outcomes): the cost­effectiveness of the interventions that the department delivers or administers: the department’s organisational health and cap­ ability to perform its functions and conduct its operations effectively; and (ii) (iii) any other matters that— (i) are reasonably necessary to achieve an under­ standing of the department’s operating intentions and direction; or (ii) may be speciﬁed by the Minister or the Respon­ sible Minister for the purposes of subparagraph (i).
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
81 Part 4 s 41 Public Finance Act 1989 Reprinted as at 1 November 2007 (b) (c) (d) (e) Extra information required for ﬁrst ﬁnancial year The information required under section 38 must include, for the ﬁrst ﬁnancial year of the period to which it relates,— (a) forecast ﬁnancial statements for the department that have been prepared in accordance with generally ac­ cepted accounting practice; and a statement of all signiﬁcant assumptions underlying the forecast ﬁnancial statements; and any other information or explanations needed to fairly reﬂect the department’s forecast ﬁnancial operations and ﬁnancial position; and comparative budgeted and estimated actual ﬁgures for the previous ﬁnancial year for the forecast ﬁnancial statements; and a statement of forecast service performance that— (i) describes each class of outputs the department proposes to supply during the ﬁnancial year; and includes measures and forecast standards of out­ put delivery for each class of outputs; and identiﬁes the expected revenue to be earned and the proposed output expenses to be incurred for each class of outputs; and has been prepared in accordance with generally accepted accounting practice; and (ii) (iii) (iv) (f) any other measures and standards necessary to assess the department’s performance at the end of the ﬁnancial year.
The information for each class of outputs that is included in a statement of forecast service performance in accordance with subsection (1)(e) must be agreed by the Minister responsible for the appropriation that includes that class of outputs.

Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).
Subsection (2)(k) was substituted, and subsection (2)(l) was inserted, as from 1 July 1994, by section 32 Public Finance Amendment Act 1994 (1994 No 18).

Subsection (3) was substituted, as from 1 July 2001, by section 53 Public Audit Act 2001 (2001 No 10).
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 41 (1) (2) 82 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 4 s 41C 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
41A Special provisions in relation to annual ﬁnancial statements of school Board of Trustees [Repealed] Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).

Subsection (2)(a) was substituted, as from 1 July 1994, by section 33 Public Finance Amendment Act 1994 (1994 No 18).
Section 41A was substituted, as from 25 October 2001, by section 79(1) Edu­ cation Standards Act 2001 (2001 No 88).

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
41B Special provisions in relation to annual ﬁnancial statements of Boards under Reserves Act 1977 [Repealed] Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).

Subsection (2)(a) was substituted, as from 1 July 1994, by section 33 Public Finance Amendment Act 1994 (1994 No 18).
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

41C Draft statement of intent [Repealed] Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).
Subsection (2) was substituted, as from 1 July 1994, by section 35 Public Fi­ nance Amendment Act 1994 (1994 No 18).

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
83 Part 4 s 41D Public Finance Act 1989 Reprinted as at 1 November 2007 41D Contents of statement of intent [Repealed] Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).
Subsection (1) was amended, as from 1 July 1994, by section 36(1)(a) Public Finance Amendment Act 1994 (1994 No 18) by substituting the words “Crown entity group” for the words “group comprising the Crown entity and its sub­ sidiaries and any company or subsidiaries of companies that are Crown entities by virtue of paragraph (c) of the deﬁnition to the term Crown entity in section 2(1) of this Act”.
Subsection (1)(h) was amended, as from 1 July 1994, by section 36(1)(b) Public Finance Amendment Act 1994 (1994 No 18) by substituting the words “state­ ment of output objectives” for the words “statement of objectives”.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
41E Completed statement of intent [Repealed] Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

41F Laying of statement of intent before House of Representatives [Repealed] Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
84 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 4 s 42 41G Power of Responsible Minister to require Crown entity to modify statement of intent [Repealed] Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
41H Power of Crown entity to modify statement of intent [Repealed] Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

41I Annual report of Crown entities named or described in Schedule 6 [Repealed] Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).

Paragraph (a)(ii) was substituted, as from 1 July 1994, by section 37 Public Finance Amendment Act 1994 (1994 No 18).
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
42 (1) Information on future operating intentions must include statement of responsibility The information required under section 38 must also include a statement of responsibility that is— (a) (b) signed by the department’s chief executive; and countersigned by the department’s chief ﬁnancial ofﬁ­ cer.
(2) The statement of responsibility must comprise— 85 Part 4 s 43 Public Finance Act 1989 Reprinted as at 1 November 2007 (a) (b) a statement of the chief executive’s responsibility for the information; and a statement that certiﬁes that the information is consis­ tent with— (i) (ii) existing appropriations; and the appropriations set out in the ﬁrst Appropri­ ation Bill that relates to the ﬁnancial year in ques­ tion.
Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).

Subsections (1) and (2) were amended, as from 1 July 1994, by section 38 Public Finance Amendment Act 1994 (1994 No 18) by substituting the words “state­ ment of responsibility” for the words “management statement”.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Reporting requirements—annual reports Departments must prepare annual reports 43 (1) As soon as practicable after the end of each ﬁnancial year, a department must— (a) prepare a report on the operations of the department for that ﬁnancial year; and (b) provide the report to its Responsible Minister.
Subsection (1) does not derogate from any provision in any other Act that requires the chief executive of a department to present an annual report, but it is not necessary for the chief executive to provide a separate report under each enactment.

Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).
Subsection (2) was repealed, as from 1 July 2001, by section 53 Public Audit Act 2001 (2001 No 10).

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(2) 86 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 4 s 44A 44 Obligation to present and publish departmental annual reports (1) A Responsible Minister must present a department’s annual report to the House of Representatives— (a) not later than 15 working days after the audit report is provided under section 45D; or if Parliament is not in session, as soon as possible after the commencement of the next session of Parliament.
(b) (2) A department must publish its annual report— (3) (a) (b) as soon as practicable after it has been presented to the House of Representatives, but in any case not later than 15 working days after the audit report is provided under section 45D; and in accordance with the manner (if any)— (i) (ii) prescribed by regulations made under this Act; or speciﬁed in instructions issued under this Act.
If a department’s annual report is published in advance of it being presented to the House of Representatives, the Respon­ sible Minister must arrange for the publication in the Gazette of a notice indicating that the annual report has been published.

Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).
Section 44 was amended, as from 1 July 1994, by section 39 Public Finance Amendment Act 1994 (1994 No 18) by substituting the words “statement of responsibility” for the words “management statement”.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
44A Laying before House of Representatives of ﬁnancial statements of Crown entities (other than school Boards of Trustees and Reserves Boards) [Repealed] Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).

Section 44A was substituted, as from 1 July 1994, by section 40 Public Finance Amendment Act 1994 (1994 No 18).
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 87 Part 4 s 44B Public Finance Act 1989 Reprinted as at 1 November 2007 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
44B Annual report in relation to schools’ sector [Repealed] Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).

Subsection (1) was amended, as from 25 October 2001, by section 79(2) Edu­ cation Standards Act 2001 (2001 No 88), by substituting the expression “30 September” for the expression “the 30th day of June”.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
44C Annual ﬁnancial statements of school Boards of Trustees [Repealed] Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

44D Annual ﬁnancial statements of Reserves Boards [Repealed] Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Contents of departmental annual report 45 (1) A department’s annual report must contain the following in­ formation in respect of the ﬁnancial year to which it relates: (a) information on operations that complies with subsec­ tion (2); and a statement of service performance in accordance with section 45A; and (b) 88 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 4 s 45A (c) (d) (e) (f) the annual ﬁnancial statements for the department in accordance with section 45B; and the statement of responsibility in accordance with sec­ tion 45C; and the audit report provided under section 45D; and any other matters that relate to or affect the department’s operations that the department is required, has under­ taken, or wishes to report on in its annual report.
The annual report must provide the information that is neces­ sary to enable an informed assessment to be made of the de­ partment’s performance during the ﬁnancial year (including an assessment against the intentions, measures, and standards set out at the start of the ﬁnancial year in the information on the de­ partment’s future operating intentions in accordance with sec­ tions 40 and 41).

The annual report must be dated and signed on behalf of the department by its chief executive.
Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).

(2) (3) Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
45A Statement of service performance A department’s statement of service performance must— (a) be prepared in accordance with generally accepted ac­ counting practice; and describe each class of outputs supplied by the depart­ ment during the ﬁnancial year; and include, for each class of outputs,— (i) (b) (c) the standards of delivery performance achieved by the department, as compared with the forecast standards included in the department’s statement of forecast service performance at the start of the ﬁnancial year; and the actual revenue earned and output expenses in­ curred, as compared with the expected revenues and proposed output expenses included in the de­ (ii) 89 Part 4 s 45B Public Finance Act 1989 Reprinted as at 1 November 2007 partment’s statement of forecast service perform­ ance at the start of the ﬁnancial year.
Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
45B Annual ﬁnancial statements (1) A department’s annual ﬁnancial statements must be prepared in accordance with generally accepted accounting practice.
In addition to the ﬁnancial statements required by generally accepted accounting practice, a department’s annual ﬁnancial statements must include— (a) (b) (c) (d) any other information or explanations needed to fairly reﬂect the department’s ﬁnancial operations and ﬁnan­ cial position; and the forecast ﬁnancial statements prepared at the start of the ﬁnancial year, for comparison with the actual ﬁnan­ cial statements; and a statement of actual expenses and capital expenditure incurred against— (i) each appropriation administered by the depart­ ment; and each class of outputs included in each output ex­ pense appropriation; and (ii) a statement of unappropriated expenses and capital ex­ penditure incurred in relation to the activities of, or ap­ propriations administered by, the department, together with an explanation of the reasons for the unappropri­ ated expenses and capital expenditure.
Part 5 (comprising sections 41 to 45) was substituted by a new Part 5 (com­ prising sections 41 to 45B), as from 21 December 1992, by section 31 Public Finance Amendment Act 1992 (1992 No 142).

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(2) 90 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 4 s 45D 45C Statement of responsibility (1) The statement of responsibility must include— (a) a statement of the responsibility of the department’s chief executive for the preparation of the ﬁnancial state­ ments and statement of service performance, and for the judgments made in them; and a statement of the responsibility of the department’s chief executive for establishing a system of internal control designed to provide reasonable assurance as to the integrity and reliability of ﬁnancial reporting; and a statement that, in the opinion of the department’s chief executive, the ﬁnancial statements and statement of ser­ vice performance fairly reﬂect the ﬁnancial position and operations of the department for the reporting period.
(b) (c) (2) The statement of responsibility must be— (a) (b) signed by the department’s chief executive; and countersigned by the department’s chief ﬁnancial ofﬁ­ cer.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
45D Audit report (1) A department must forward to the Auditor­General— (a) (b) its annual ﬁnancial statements, statement of service per­ formance, and any other information that the Auditor­ General has agreed, or is required, to audit within 2 months after the end of each ﬁnancial year; and its annual report in a timely manner to enable the Audi­ tor­General to review that report before providing the audit report required under subsection (2)(b).
The Auditor­General must— (a) (b) audit the statements referred to in subsection (1)(a); and provide an audit report on them to the department within 3 months after the end of each ﬁnancial year.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(2) 91 Part 4 s 45E Public Finance Act 1989 Reprinted as at 1 November 2007 45E Application of this Part to intelligence and security Miscellaneous departments This Part applies to an intelligence and security department, subject to subsection (2) and with the following (and any other necessary) modiﬁcations: (a) (b) (c) section 40 must be read as if section 40(e)(ii) did not include a reference to the Minister; and sections 41 and 45B(1) and (2)(a) and (b) must be read as if those sections referred to the forecast or actual ﬁ­ nancial statements, prepared in accordance with gener­ ally accepted accounting practice, that, in the opinion of the Responsible Minister, will fairly reﬂect the depart­ ment’s forecast or actual ﬁnancial operations and ﬁnan­ cial position for that ﬁnancial year; and section 4J of the New Zealand Security Intelligence Service Act 1969 or, as the case may be, section 12 of the Government Communications Security Bureau Act 2003 is substituted (subject to all necessary modiﬁca­ tions) for sections 43 and 44, except that— (i) the report presented to the House of Represen­ tatives under section 4J(3) of the New Zealand Security Intelligence Service Act 1969 or sec­ tion 12(3) of the Government Communications Security Bureau Act 2003 must include a state­ ment that provides a record of the total of the actual expenses and capital expenditure incurred by the department for that year against the de­ partment’s appropriation for that ﬁnancial year (that statement being a substitute for the ﬁnancial statements submitted to the Responsible Minis­ ter and the Intelligence and Security Committee); and the department must publish the report as soon as practicable after it has been presented to the House of Representatives; and (ii) (d) sections 45C and 45D must be read as if the references to a statement of service performance were omitted.
(1) 92 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 4 s 45F (2) The following provisions do not apply to an intelligence and security department: (a) section 39 (which requires information provided by a department on its future operating intentions to be pre­ sented to the House of Representatives and to be pub­ lished): section 41(1)(e) (which requires the information on fu­ ture operating intentions to include a statement of fore­ cast service performance): section 41(2) (which provides that the information in­ cluded in a statement of forecast service performance must be agreed by the Minister responsible for the ap­ propriation): section 45(1)(b) (which requires a department’s annual report to contain a statement of service performance): section 45A (which relates to the statement of service performance).
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
45F Application of this Part to Ofﬁces of Parliament (1) This Part applies to an Ofﬁce of Parliament, subject to sub­ section (2) and with the following (and any other necessary) modiﬁcations: (a) references to a department must be read as references to an Ofﬁce of Parliament; and references to the Auditor­General must be read as refer­ ences to an auditor appointed by the House of Represen­ tatives to audit the ﬁnancial statements and statements of service performance of Ofﬁces of Parliament; and section 38 must be read in the manner indicated in sec­ tion 45G; and section 40(e) must be read as if an Ofﬁce of Parliament were not required to comply with the requirement for the report on future operating intentions to set out and explain any other matters that may be speciﬁed by the Minister or Responsible Minister, but were instead re­ (b) (c) (d) (e) (b) (c) (d) 93 Part 4 s 45G Public Finance Act 1989 Reprinted as at 1 November 2007 (2) quired to have regard to those matters in the preparation of that report.
Section 39(2)(b) (which requires the information on future op­ erating intentions to be accompanied by a statement that the information is consistent with the policy and performance ex­ pectations of the Government) does not apply to an Ofﬁce of Parliament.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.
45G This Part modiﬁed for purpose of applying Part to Ofﬁces (1) of Parliament For the purposes of section 45F(1)(c), this Part must be read as if, for section 38(1), there were substituted the following subsection: “(1) An Ofﬁce of Parliament must,— “(a) before the start of each ﬁnancial year and not later than the date on which the Ofﬁce submits to the House of Representatives the information required under section 26E(l), prepare and provide to the Speaker and the House of Representatives draft information about its future operating intentions; and “(b) before the start of each ﬁnancial year,— “(i) have regard to any comments on the draft infor­ mation that it receives from the Speaker or a com­ mittee of the House of Representatives that con­ sidered the matter; and “(ii) prepare ﬁnal information about its future operat­ ing intentions after complying with subparagraph (i).” (2) For the purposes of section 45F(1)(c), this Part must be read as if, for section 38(4), there were substituted the following subsection: “(4) An Ofﬁce of Parliament must provide the ﬁnal information to the Speaker, who must arrange for the ﬁnal information to be presented to the House of Representatives, as required by section 39.” 94 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 5 s 45H Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

Part 5 Special reporting requirements Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

The heading to the previous Part 5 read “Reporting by Crown entities”.

See sections 32 to 36 of that Act as to the transitional provisions.
Subpart 1—Special annual reporting requirements 45H Application of subpart This subpart applies to— (1) (a) an entity that must provide an annual report that in­ cludes audited annual ﬁnancial statements for presen­ tation to the House of Representatives; and an entity that must provide audited annual ﬁnancial statements (rather than an annual report) for presenta­ tion to the House of Representatives.
(b) (2) (3) For the purposes of subsection (1)(b), this subpart must be read as if, with all necessary modiﬁcations, every reference to an annual report were a reference to audited ﬁnancial statements.
In this section and sections 45I to 45K, provide, in relation to a report or set of statements, means to comply with the re­ quirements of an Act (including this Act) for the report or, as the case may be, the set of statements to be— forwarded to an entity’s auditor; or (a) provided to a Minister; or (b) (c) presented to the House of Representatives.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
95 Part 5 s 45I Public Finance Act 1989 Reprinted as at 1 November 2007 45I First annual report for newly established entities (1) The Minister may (at the Minister’s discretion) exempt an en­ tity that is established within 4 months before the end of a ﬁ­ nancial year from the obligation to provide an annual report for that ﬁnancial year.
(2) Despite subsection (1), an entity that administers an appropri­ ation must, as soon as practicable after the end of that ﬁnancial year, provide— (a) the statements required by section 45B(2)(c) and (d) (which comprise the statement of actual expenses and capital expenditure against appropriations and the statement of unappropriated expenses and capital expenditure); and an audit report on those statements.
(b) (4) (3) An entity that is exempted under subsection (1) must, as soon as practicable after the end of the next ﬁnancial year, provide an annual report that covers the period from the date on which it is established until the end of that next ﬁnancial year.

To avoid doubt, the annual report referred to in subsection (3) must contain the information required to be included in the entity’s annual report (except that the information must be in respect of the period referred to in that subsection).
Subsections (1) to (4) also apply to an entity that, within 4 months before the end of a ﬁnancial year, becomes subject to the requirement to provide an annual report for presentation to the House of Representatives.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(5) 45J Final annual report for disestablished entities (1) An entity that is disestablished before the end of a ﬁnancial year must, as soon as practicable after the date on which it is disestablished, provide a ﬁnal report (as if the ﬁnal report were an annual report) for the period up until that date.
If the Minister is satisﬁed that it is necessary or expedient to transfer some or all of the responsibility for completing a ﬁnal report to another party,— (2) 96 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 5 s 45K (3) (a) (b) the Minister may approve the transfer of that responsi­ bility; and if the Minister does so, the party to whom that respon­ sibility is transferred must sign the statement of respon­ sibility.
Subsections (1) and (2) also apply to an entity that, before the end of the ﬁnancial year, ceases to be subject to the require­ ment to provide an annual report for presentation to the House of Representatives.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
45K Timing of special annual reports, etc (1) An entity that reports under section 45I must provide the state­ ments and reports required under that section within the period speciﬁed in legislation for the entity to provide its annual re­ port.
(2) An entity that reports under section 45J must provide the ﬁnal report within 20 working days after the end of the period spe­ ciﬁed in legislation for the entity to provide its annual report (except that the period so speciﬁed must start on the date on which the entity is disestablished, rather than at the end of the ﬁnancial year).
(3) Despite subsection (2) and section 45J(1), the Minister may allow an entity that ceases to be subject to the requirement to provide an annual report before the end of a ﬁnancial year, but that is not disestablished, to provide the ﬁnal report as soon as practicable after the end of the ﬁnancial year on— (a) the condition that the entity’s ﬁnal report contains the information that the entity is required to include in its annual report for at least the period up until the date on which it ceases to be so subject; and (b) any other conditions that the Minister thinks ﬁt.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
97 Part 5 s 45L Public Finance Act 1989 Reprinted as at 1 November 2007 45L Minister may allow certain information to be included in another entity’s annual report if operations transferred This section applies if— (a) an entity is disestablished during the entity’s ﬁnancial year; and that entity’s operations are transferred to 1 or more en­ tities; and those operations are, at the time of the transfer, to be carried out on substantially the same terms by the entity to whom they are transferred.
(b) (c) The Minister may exempt the entity from whom operations are transferred from the requirement to include in its ﬁnal report— (a) (b) The Minister may grant an exemption under subsection (2)— (a) a statement of service performance; and a full report on its operations.
on the condition that— (i) the information referred to in subsection (2)(a) and (b) is subsequently included, at the end of that ﬁnancial year, in the annual report of the entity to whom the operations are transferred; and the entity to whom those operations are trans­ ferred has not been exempted under section 45I; and (ii) (b) only if the Minister is satisﬁed that the inclusion of that information in the other entity’s annual report in accord­ ance with paragraph (a)(i) does not unreasonably com­ promise accountability for the performance of those op­ erations during that ﬁnancial year.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Subpart 2—Application of provisions of Crown Entities Act 2004 to organisations named or described in Schedule 4 Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section (1) (2) (3) 98 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 5 s 45N 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
45M Provisions of Crown Entities Act 2004 that apply to all (1) (2) (b) Schedule 4 organisations The following provisions of the Crown Entities Act 2004 ap­ ply to an organisation named or described in Schedule 4, as if the organisation were a Crown entity under the Crown Entities Act 2004: (a) sections 133 and 134 (which relate to supply of infor­ mation): sections 154 to 156 and any regulations that apply to the matters referred to in those sections: section 158 (which relates to bank accounts).
(c) Section 150 of the Crown Entities Act 2004 applies to an or­ ganisation that is named or described in Schedule 4 and that is not required to produce an annual report as if the annual ﬁ­ nancial statements required under subsection (1)(b) were an annual report.
(3) An organisation named or described in Schedule 4 that is re­ quired to produce a statement of service performance must present that statement to the House of Representatives with the annual ﬁnancial statements required under subsection (1)(b).

The provisions applied by this section apply to the organisation subject to any negation or modiﬁcation of the provision in the entity’s Act.
(4) (5) A provision that applies to a parent organisation, and any nega­ tion or modiﬁcation of the provision in the entity’s Act, applies also to the subsidiaries of the organisation, except to the extent that the entity’s Act provides otherwise.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

45N Some provisions of Crown Entities Act 2004 applied to some Schedule 4 organisations (1) A provision of the Crown Entities Act 2004 that is listed in column 2 of Schedule 4 as applying to an organisation named 99 Part 5 s 45O Public Finance Act 1989 Reprinted as at 1 November 2007 or described in that schedule applies to that organisation as if the organisation were a Crown entity under the Crown Entities Act 2004.
(3) (2) However, the Minister may exempt an organisation named or described in Schedule 4 from any of the requirements in sec­ tions 141, 142, 151, and 152 of the Crown Entities Act 2004.

The exemption may be granted— (a) if the Minister considers that it is necessary or expedient to grant the exemption; and by notice in writing to the organisation, on any condi­ tions that the Minister thinks ﬁt.
(b) Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(2) 45O Special provisions relating to Reserves Boards (1) Despite section 45M(2), section 150(3) and (4) of the Crown Entities Act 2004 does not apply to a Reserves Board (as de­ ﬁned by section 2 of the Reserves Act 1977) and accordingly, the Minister of Conservation is not required to present the an­ nual ﬁnancial statements of a Reserves Board to the House of Representatives.
The Minister of Conservation must, in each year, send to each member of Parliament copies of the annual ﬁnancial state­ ments of a Reserves Board that manages a reserve in the mem­ ber’s electoral district.

The copies must be sent not later than 1 month after the date on which an audit report is provided by the Auditor­General on those ﬁnancial statements.
The chief executive of the Department of Conservation must ensure that information about the ﬁnancial performance of Re­ serves Boards is, in each year, included in the annual report of the Department of Conservation.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(3) (4) 100 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 6 s 47 Part 6 Borrowing, securities, derivative transactions, investment, banking, and guarantees Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

The heading to the previous Part 6 read “Loans and securities”.

See sections 32 to 36 of that Act as to the transitional provisions.
Subpart 1—Borrowing Limits on borrowing by the Crown 46 The Crown must not borrow except under statute Except as expressly authorised by any Act, it is not lawful for— (a) (b) Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
the Crown to borrow money; or any person to lend money to the Crown.

47 Minister may borrow on behalf of the Crown if in public (1) (2) (3) interest The Minister, on behalf of the Crown, may borrow money if it appears to the Minister to be necessary or expedient in the public interest to do so.

The Minister may borrow money from any person, organisa­ tion, or government (either within or outside New Zealand).
Except as otherwise provided in any Act, all monies received as a result of money being borrowed under subsection (2) must be paid into— a Crown Bank Account; or (a) if the Minister directs, a Departmental Bank Account.

(b) Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
101 Part 6 s 48 Public Finance Act 1989 Reprinted as at 1 November 2007 48 49 (1) Power to borrow must not be delegated Despite anything in the State Sector Act 1988, the Minister must not delegate the Minister’s power to borrow money under section 47.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.
The Crown not liable for debts of Crown entities, etc The Crown is not liable to contribute towards the payment of any debts or liabilities of— (a) a Crown entity or an organisation named or described in Schedule 4; or a subsidiary of a Crown entity or of an organisation named or described in Schedule 4; or any entity in which a Crown entity has an interest; or any other agency or body corporate that is controlled or wholly owned by the Crown.
(b) (c) (d) (2) However, this section does not apply in relation to— (a) (b) (c) (d) any sum the Crown is liable to contribute under any Act; or any sum the Crown is liable to contribute under any guarantee or indemnity given by the Minister under sec­ tion 65ZD; or any sum the Crown is liable to pay a creditor of a Crown entity, Crown subsidiary, other agency, or other body corporate, by virtue of a cause of action that the creditor has against the Crown; or any sum the Crown is liable to pay to a creditor of the Reserve Bank of New Zealand.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
102 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 6 s 50 Appointment of borrowing agents 50 Minister may appoint agents for purpose of borrowing (1) money The Minister may appoint 2 or more persons to act on the Min­ ister’s behalf as joint borrowing agents for any of the following purposes: (a) (b) (c) borrowing money under this Act: issuing securities for money borrowed under this Act: any other purpose that is connected with the matters referred to in paragraphs (a) and (b).
(2) An appointment under subsection (1)— (a) must be made by warrant signed by the Minister; and (b) may be made in respect of— (i) (ii) (iii) (iv) a speciﬁed ofﬁcer or person; or ofﬁcers or persons of a speciﬁed class; or the holder for the time being of a speciﬁed ofﬁce or appointment; or the holders for the time being of a class of ofﬁces or appointments.

(3) (4) (5) The number of persons acting as borrowing agents under this section must not be less than 2.
The Minister may, at any time, by instrument signed by the Minister,— (a) revoke or amend a warrant of appointment under this section; or reappoint a person as a borrowing agent; or appoint another person to replace a borrowing agent— (i) (ii) who resigns or dies.

whose appointment is revoked; or (b) (c) The Minister may give notice of an appointment, or revocation of appointment, of a borrowing agent under this section by any means of communication that he or she thinks ﬁt.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
103 Part 6 s 51 Public Finance Act 1989 Reprinted as at 1 November 2007 51 Appointment of borrowing agents does not prevent exercise of power by Minister The appointment by the Minister of a borrowing agent under section 50 does not prevent the exercise by the Minister of a power conferred by any Act or rule of law.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Borrowings must be taken to be lawful 52 (1) Any money that appears to have been borrowed by the Crown under this Act must be taken to have been lawfully borrowed within the powers conferred by this Act, and the person from whom the money was borrowed may not question whether, or to what extent, authority has been given or occasion has arisen for the exercise of those powers.
The fact that a borrowing agent exercises any powers relating to money borrowed by the Crown is, in the absence of proof to the contrary, conclusive evidence of his or her authority to do so.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(2) 52A Crown not to issue securities except under statute [Repealed] Section 52A was inserted, as from 1 July 1994, by section 41 Public Finance Amendment Act 1994 (1994 No 18).

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Borrowing agents may delegate powers 53 (1) A borrowing agent appointed under section 50 may delegate all or any of the powers conferred on the borrowing agent by the Minister under that section subject to— the consent of the Treasury; and (a) 104 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 6 s 56 (b) the requirement under section 50(3) that the number of persons acting as borrowing agents must not be less than 2.
(2) The delegation may— (a) be made by a borrowing agent acting jointly or severally with any other borrowing agent; and be made to 1 or more persons; and be subject to any conditions that the delegating agent, or agents, think ﬁt.

(b) (c) Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

Terms and conditions of borrowing 54 Minister may determine terms and conditions of borrowing For the purposes of section 47, the Minister may borrow money on any terms and conditions that the Minister thinks ﬁt.

Section 54 was substituted, as from 21 December 1992, by section 32 Public Finance Amendment Act 1992 (1992 No 142).
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
55 Charge on public revenues All principal, interest, and other money that is payable in re­ lation to money borrowed by the Crown is a charge on, and payable out of, the revenues of the Crown equally and rateably with all other general borrowing obligations of the Crown.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.
56 Power to borrow by issue of series of similar securities The power conferred on the Minister under section 47 includes the power to borrow money— 105 Part 6 s 57 Public Finance Act 1989 Reprinted as at 1 November 2007 (a) (b) by way of the issue of public securities in 1 or more ser­ ies (for example, Treasury bills or commercial paper); and under 1 or more agreements between the Crown and 1 or more speciﬁed banks, ﬁnancial institutions, or security dealers.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

57 (1) Power to vary borrowings of the Crown The Minister may, at any time, vary the terms and conditions of borrowings of the Crown with the consent, if necessary, of the person from whom the money was borrowed.
(2) At the request of the person from whom money was borrowed, the Minister may— (a) direct that the principal, or any interest payable in re­ spect of the principal, be paid at a place in New Zealand or elsewhere that is other than the place otherwise pro­ vided; and (b) revoke the direction and give other directions.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

58 (1) (2) Conversion of money borrowed by the Crown The Minister may, at any time, convert any money borrowed by the Crown into any other money borrowed by the Crown.
In exercising a power under subsection (1), the Minister— (a) may do so on any terms and conditions that the Minister thinks ﬁt; and (b) must, if necessary, do so with the consent of, as the case may be,— (i) the person from whom the money was borrowed; or the holder of the securities issued in respect of the money borrowed.
(ii) 106 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 6 s 59 Subsection (5) was amended, as from 1 July 1994, by section 42 Public Finance Amendment Act 1994 (1994 No 18) by substituting the words “a capital con­ tribution” for the word “money”.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

58A Authority for the giving by the Crown of guarantees and indemnities [Repealed] Sections 58A and 59 were substituted for the original section 59, as from 21 December 1992, by section 33 Public Finance Amendment Act 1992 (1992 No 142).

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.
59 Minister may appoint underwriters, managers, etc, for (1) (2) borrowings of the Crown The Minister, on behalf of the Crown, may enter into an agree­ ment with a bank, ﬁnancial institution, or other person for the purpose of appointing the bank, institution, or person to act in any of the following capacities for, or in connection with, the borrowing of money under this Act: (a) (b) (c) (d) (e) (f) The Minister may enter into the agreement on any terms and conditions that the Minister thinks ﬁt.
Sections 58A and 59 were substituted for the original section 59, as from 21 December 1992, by section 33 Public Finance Amendment Act 1992 (1992 No 142).

an underwriter; or a manager; or a dealer; or a trustee; or a registrar; or a paying, ﬁscal, or other agent.

Subsection (1) was substituted, as from 12 December 2000, by section 10(1) Public Finance Amendment Act 2000 (2000 No 78).

Subsection (4) was substituted, as from 1 July 1994, by section 43 Public Fi­ nance Amendment Act 1994 (1994 No 18).
107 Part 6 s 60 Public Finance Act 1989 Reprinted as at 1 November 2007 Subsections (4) and (5) were substituted, and subsection (6) inserted, as from 12 December 2000, by section 10(2) Public Finance Amendment Act 2000 (2000 No 78).

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Payments relating to borrowings Payment of principal and interest on money borrowed by the Crown Subject to the provisions of this Act,— (a) all principal payable in respect of money borrowed by the Crown— (i) must be paid without further authority than this section; and (b) (ii) must be paid from a Crown Bank Account or, if the Minister directs, a Departmental Bank Ac­ count, and all borrowing expenses in respect of money borrowed by the Crown may be incurred without further appropri­ ation, and must be paid without further authority, than this section.
Subsection (1) does not apply to money borrowed by the Crown under— (a) hire purchase agreements or agreements that are of the same or a substantially similar nature; and ﬁnance lease arrangements or arrangements that are of the same or a substantially similar nature.

(b) Section 60 was amended, as from 21 December 1992, by section 33 Public Finance Amendment Act 1992 (1992 No 142) by substituting the words “guar­ antee or indemnity” for the words “guarantee, indemnity, or security”.
Section 60 was substituted, as from 1 July 1994, by section 44(1) Public Finance Amendment Act 1994 (1994 No 18).

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
60 (1) (2) 108 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 6 s 61 negotiating the borrowing of money by the Crown; or undertaking the borrowing; or Expenses in respect of money borrowed by the Crown 61 (1) Any expenses incurred in connection with any of the follow­ ing matters may be incurred without further appropriation, and must be paid without further authority, than this section: (a) (b) (c) managing the borrowing; or servicing the borrowing; or (d) converting the borrowing; or (e) (f) repaying the borrowing.
Subsection (1) does not apply to expenses incurred in connec­ tion with money borrowed by the Crown under— (a) hire purchase agreements or agreements that are of the same or a substantially similar nature; and ﬁnance lease arrangements or arrangements that are of the same or a substantially similar nature.
(2) (b) (3) In this section, expenses includes— (a) (b) duties, taxes, premiums, bonuses, fees, interests, and commissions; and any expenses incurred on personnel and equipment ne­ cessary for the performance of functions set out in sub­ section (1).

Section 61 was substituted, as from 1 July 1994, by section 45 Public Finance Amendment Act 1994 (1994 No 18).
Subsection (2)(a) was amended, as from 20 May 1999, by section 7 Stamp Duty Abolition Act 1999 (1999 No 61) by substituting the word “Duties” for the words “Stamp duty and other duties”.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Subpart 2—Securities Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
109 Part 6 s 62 Public Finance Act 1989 Reprinted as at 1 November 2007 Limits on the Crown issuing securities 62 The Crown must not issue securities except under statute Except as expressly authorised by any Act, the Crown must not issue securities (whether for money borrowed or any other purpose).

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

63 Minister may issue securities for money borrowed by the (1) (2) Crown This section applies if, under any Act, money is borrowed by the Crown for any purpose.

The Minister, on behalf of the Crown, may issue securities for that money in any manner and form that the Minister thinks ﬁt.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Issue or variation of security taken to be lawful 64 (1) A security that appears to have been issued or varied under this Act must be taken to have been lawfully issued or varied, as the case may be, within the powers conferred by this Act, and neither the lender nor the holder may question whether, or to what extent, authority has been given or occasion has arisen for the exercise of those powers.
(2) However, subsection (1) applies only if the security has been issued or varied by— the Minister; or (a) a person acting in accordance with a delegation under (b) the State Sector Act 1988; or borrowing agents appointed for the purpose under sec­ tion 50.

(c) The fact that a borrowing agent exercises any powers relating to a security is, in the absence of proof to the contrary, conclu­ sive evidence of his or her authority to do so.
(3) 110 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 6 s 65A Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Terms and conditions of securities 65 (1) (2) Securities must be in name of Sovereign This section applies if— (a) either of the following circumstances applies: (i) a security is taken for an advance of money by the Crown; or a security is given for money borrowed by the Crown; and (ii) (b) the Act that authorises the borrowing does not provide otherwise as to in whose name the security must be taken or given.
If this section applies,— (a) (b) the security must be taken or given in the name of the Sovereign; and the Minister may, on behalf of the Sovereign, do any of the following things in respect of or in connection with the security that could be done by the Sovereign: (i) exercise any powers, functions, and rights (in­ cluding any power of disposal); and undertake and perform any liabilities.
Subsection (2) was substituted, and subsection (3) was inserted, as from 1 July 1994 by section 46 Public Finance Amendment Act 1994 (1994 No 18).

(ii) Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
65A Power to vary public securities (1) The Minister may, with the consent of the holder that may be necessary, at any time vary the terms and conditions of a public security.
(2) At the request of the holder of a public security, the Minister may— (a) direct that the principal, or any interest payable in re­ spect of the principal, be paid at a place in New Zealand 111 Part 6 s 65B Public Finance Act 1989 Reprinted as at 1 November 2007 or elsewhere that is other than the place otherwise pro­ vided; and (b) revoke the direction and give other directions.

Section 65A was inserted, as from 21 December 1992, by section 34 Public Finance Amendment Act 1992 (1992 No 142).
Subsection (3) was amended, as from 1 July 1994, by substituting the expression “Subsections (2) to (7) of section 41” for the expression “Section 41”.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
65B Issue of new public security on loss, damage, or (1) (2) destruction of public security The Minister may direct the issue of a new public security to replace a public security that is lost, damaged, or destroyed if the Minister is satisﬁed, on receiving evidence, of the loss, damage, or destruction.

The Minister may give a direction under subsection (1) subject to any conditions that the Minister thinks ﬁt.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
65C Execution of securities (1) A security that must be executed by the Sovereign for the pur­ poses of this Act must be executed for and on behalf of the Sovereign by— (a) (b) the Minister; or a person acting in accordance with a delegation under section 28 or section 41 of the State Sector Act 1988; or borrowing agents appointed for the purpose under sec­ tion 50.
(c) For the purposes of this section, it is enough if a facsimile of the signature of a person who is required to execute a security under this section is reproduced on the security.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(2) 112 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 6 s 65E Payments relating to securities 65D Payments under public securities (1) Subject to the provisions of this Act,— (a) all principal payable under a public security— (i) must be paid without further authority than this section; and (2) (b) (ii) must be paid from a Crown Bank Account; and all borrowing expenses incurred under a public security may be incurred without further appropriation, and must be paid without further authority, than this section.
In this section and section 65E, public security does not in­ clude a guarantee or indemnity given under section 65ZD.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
65E Expenses in respect of securities (1) Any expenses incurred in connection with any of the following functions may be incurred without further appropriation, and must be paid without further authority, than this section: (a) (b) (c) (d) In this section, expenses includes— (a) issuing a public security in respect of the Crown; or executing the public security; or redeeming the public security; or varying the public security.
(2) duties, taxes, premiums, bonuses, fees, and commis­ sions; and any expenses incurred on personnel and equipment ne­ cessary for the performance of functions set out in sub­ section (1).

(b) Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Subpart 3—Derivative transactions Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 113 Part 6 s 65F Public Finance Act 1989 Reprinted as at 1 November 2007 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Limits on the Crown entering into derivative transactions 65F The Crown must not enter into derivative transactions Except as expressly authorised by any Act, the Crown must not enter (either directly or through an intermediary) into a derivative transaction.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

65G Minister may enter into derivative transactions if in (1) (2) public interest The Minister, on behalf of the Crown, may enter into a deriva­ tive transaction if it appears to the Minister to be necessary or expedient in the public interest to do so.

The Minister may enter into a derivative transaction on any terms and conditions that the Minister thinks ﬁt.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Payments relating to derivative transactions 65H Payments relating to derivative transactions of the Crown (1) Any money that is required to be paid by the Crown under a derivative transaction— (a) must be paid without further authority than this section; and (b) must be paid from a Crown Bank Account or, if the Minister directs, a Departmental Bank Account.
(2) Any expenses incurred in connection with any of the follow­ ing matters may be incurred without further appropriation, and must be paid without further authority, than this section: negotiating a derivative transaction; or (a) (b) managing the derivative transaction; or servicing the derivative transaction; or (c) 114 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 6 s 65J (d) making payments under the derivative transaction.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

Subpart 4—Investment Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

Investment of public money 65I (1) (2) (3) Investment of public money The Treasury may, without further appropriation than this sec­ tion, invest any money held in a Crown Bank Account or a Departmental Bank Account— (a) on deposit with a bank (whether in New Zealand or else­ where) approved by the Minister for the purpose; or in public securities; or in any other securities that the Minister may approve for the purpose.
(b) (c) The Treasury may— (a) invest the money for any period and on any terms and conditions that it thinks ﬁt; and sell, or convert into money, any of the securities.

(b) The following must be paid into a Crown Bank Account: all interest received from the investment; and (a) all money received from— (b) (i) (ii) the redemption or maturity of the investment; or the sale or conversion of the securities.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
65J Payment of expenses relating to investment (1) All costs, charges, and expenses incurred in connection with any of the matters speciﬁed in subsection (2)— 115 Part 6 s 65K Public Finance Act 1989 Reprinted as at 1 November 2007 (2) (a) may be incurred without further appropriation, and must be paid without further authority, than this section; and negotiating an investment referred to in section 65I; or placing the investment; or (b) must be paid from a Crown Bank Account.
The matters are— (a) (b) (c) managing the investment; or servicing the investment; or (d) (e) converting the investment.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Limits on lending by the Crown 65K The Crown must not lend money except under statute The Crown must not lend money to a person or organisation, except— (a) (b) as expressly authorised by any Act; or if lending the money is necessary for the Crown to— (i) (ii) meet a legal obligation; or properly perform a function.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
65L Minister may lend money to persons or organisations if in public interest The Minister, on behalf of the Crown, may lend money to a person or organisation (whether the person or organisation is in New Zealand or elsewhere) if it appears to the Minister to be necessary or expedient in the public interest to do so.

The Minister may lend the money under subsection (1) on any terms and conditions that the Minister thinks ﬁt.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

(1) (2) 116 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 6 s 65P 65M Minister may lend money to foreign government (1) the economic development of that country; or the welfare of the inhabitants of that country.
The Minister, on behalf of the Crown, may lend money to the Government of another country for the purpose of assisting— (a) (b) The Minister may lend the money under subsection (1) on any terms and conditions that the Minister thinks ﬁt.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(2) 65N Authority to lend money includes authority to defer payments For the purposes of sections 65L and 65M, the authority to lend money includes the authority to defer payment, on terms and conditions that the Minister thinks ﬁt, for any goods or services supplied or works constructed for any person, organisation, or government.
65O Repayment of money lent by the Crown The Minister may, in relation to any money lent by the Crown under section 65L or section 65M,— (a) accept all money payable under the loan in any currency that the Minister thinks ﬁt; and agree at any time to the variation of any security issued in respect of the loan.
(b) Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

65P Appropriation required for lending Any lending under section 65L or section 65M must be made from a capital expenditure appropriation, or other authority, approved by Parliament for the purpose.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
117 Part 6 s 65Q Public Finance Act 1989 Reprinted as at 1 November 2007 (2) 65Q Securities relating to lending must be in name of Sovereign (1) A security taken in respect of a loan under section 65L or sec­ tion 65M must be taken in the name of the Sovereign.
The Minister may, on behalf of the Sovereign, do any of the following things in respect of, or in connection with, the se­ curity that could be done by the Sovereign: (a) exercise any powers, functions, and rights (including any power of disposal); and undertake and perform any liabilities.

(b) Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

Subpart 5—Banking Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Crown Bank Accounts 65R Crown Bank Accounts (1) (2) (3) The Treasury may open, maintain, and operate 1 or more Crown Bank Accounts at a bank or banks that the Minister may direct.

The Minister may specify the terms and conditions under which a Crown Bank Account is to be operated.

To avoid doubt, a reference to the Crown Bank Account in any other enactment must, unless the context otherwise requires, be read as a reference to a Crown Bank Account.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

Departmental Bank Accounts 65S Departmental Bank Accounts (1) A department may open, maintain, and operate 1 or more De­ partmental Bank Accounts at a bank or banks that the Minister or the Treasury may direct.
118 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 6 s 65U (3) (2) However, an intelligence and security department may open, maintain, and operate 1 or more Departmental Bank Accounts at banks other than those to which a direction under subsection (1) relates if the Responsible Minister for that department has given his or her written authority for the department to do so.
The Responsible Minister may give the authority under sub­ section (2) only if he or she is satisﬁed that the authority is needed to protect the security interests of the intelligence and security department.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
65T Directions relating to operation of Departmental Bank (1) Accounts The Minister or the Treasury may give directions on the terms and conditions under which a Departmental Bank Account must be operated.

(2) However, in the case of an intelligence and security depart­ ment, the power conferred by subsection (1) must be exercised only on a basis agreed between the Minister and the Respon­ sible Minister for that department.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

General 65U Payment into Bank Accounts (1) All public money is the property of the Crown and must be lodged in either a Crown Bank Account or a Departmental Bank Account.
(2) A department that operates a Departmental Bank Account must, subject to any directions given under section 65T, pay into that Account— (a) any money that,— (i) in the case of an intelligence and security depart­ ment, is disbursed to the department by the Treas­ 119 Part 6 s 65V Public Finance Act 1989 Reprinted as at 1 November 2007 ury on a basis agreed between the chief executive of the department and the Treasury; or in the case of any other department, is disbursed to the department by the Treasury; and (ii) (b) (c) all receipts relating to departmental revenue; and all receipts resulting from the sale or disposal of assets by the department.
(3) Any other public money that is not paid into a Departmental Bank Account must be paid into a Crown Bank Account.

(4) Without limiting any provisions of this Act, any money that is paid into a Crown or Departmental Bank Account in error, or in excess of the amount required for the purpose for which it was paid, may be paid out of that Bank Account to the person who is entitled to the payment without further authority than this section.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

65V Requirements for payment of money out of Bank Accounts (1) Money must not be paid out of a Crown Bank Account or a Departmental Bank Account, except in accordance with an appropriation, or other authority, by or under an Act.
(2) Despite subsection (1), money may be transferred— (a) (b) between Crown Bank Accounts; or between Crown Bank Accounts and Departmental Bank Accounts.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
65W Powers of Minister or Treasury in relation to Crown Bank Account and Departmental Bank Account The Minister or the Treasury may request from any person or organisation any information in relation to a Crown Bank Account or a Departmental Bank Account.

(1) 120 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 6 s 65X (3) (2) A person or organisation to whom a request for information is made under subsection (1) must supply that information.
The Minister may, at any time, close or suspend the operation of— (a) (b) a Crown Bank Account; or after consultation with the Responsible Minister, a De­ partmental Bank Account.
(4) (5) (c) (b) The Minister or the Treasury may— (a) issue directions about any public money held in a Crown Bank Account or a Departmental Bank Ac­ count; and transfer money in a Crown Bank Account to another Crown Bank Account or a Departmental Bank Account; and after consultation with the Responsible Minister, direct a department that operates a Departmental Bank Ac­ count to transfer money in that account to a Crown Bank Account or another Departmental Bank Account.
In the case of an intelligence and security department, the powers conferred on the Minister or the Treasury by subsec­ tions (3) and (4) must be exercised on a basis agreed between the Minister and the Responsible Minister for that department.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

65X Statement of accounts must be sent to Treasury or Auditor­General A bank at which public money is kept must send to the Treas­ ury or the Auditor­General the statements of account relating to that money that the Treasury or the Auditor­General may require, as the case may be.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
121 Part 6 s 65Y Public Finance Act 1989 Reprinted as at 1 November 2007 65Y Treasury must report on all expenses and capital (1) (2) (3) (4) (5) (6) expenditure incurred with or without appropriation or other statutory authority The Treasury must, within the time required under subsection (3), prepare and submit to the Auditor­General a report that sets out— (a) all actual expenses and capital expenditure incurred against an appropriation, or other authority, by or under an Act; and all actual expenses and capital expenditure incurred in excess of, or without, an appropriation, or other author­ ity, by or under an Act.
(b) The report must also set out, for each appropriation, or other authority, by or under an Act, the balance between— (a) the amount of expenses and capital expenditure author­ ised to be incurred; and the amount that was actually incurred.

(b) The time required is 3 working days after the Treasury receives the information from departments that is required for the prep­ aration of the monthly ﬁnancial statements of the Government reporting entity under section 31A.
To avoid doubt, this section does not limit the powers of the Auditor­General, under Part 4 of the Public Audit Act 2001, to access information from a public entity or any person.

In this section, a reference to authority includes a reference to an authority in advance of an appropriation.

In this section and sections 65Z and 65ZA, a reference to the Auditor­General is a reference to the Auditor­General in his or her capacity as Controller and Auditor­General.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
65Z Auditor­General may direct Ministers to report to House of Representatives in cases involving unlawful expenses, etc The Auditor­General may direct a Minister to report to the House of Representatives if the Auditor­General has reason (1) 122 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 6 s 65Z to believe that expenses or capital expenditure for which that Minister is responsible have been incurred for a purpose that— (a) (b) is not lawful; or is not within the scope, amount, or period of any appro­ priation, or other authority, by or under an Act.
(2) The report must set out the following details: (a) the nature and extent of any alleged breach of the ap­ propriation or other authority that the Auditor­General has reason to believe has occurred; and the events that gave rise to the alleged breach; and the remedial action taken or proposed to be taken to correct the breach and prevent its recurrence.
(b) (c) (3) If the Minister is of the opinion that there has not been a breach, the report— (a) must set out the details speciﬁed in subsection (2)(a) and (b); and (b) must also state— (i) (ii) that the Minister is of that opinion; and the Minister’s reasons for that opinion.
(4) The Minister responsible for the expenses or capital expend­ iture must— (a) comply with the direction within 20 working days after receiving it; or if Parliament is not in session,— (i) (b) (c) publish the information required by subsection (2) or, as the case may be, subsection (3) in the Gazette within 20 working days after receiving the direction; and present the information to the House as soon as possible after the commencement of the next ses­ sion of Parliament; or (ii) if the direction is made after the end of the ﬁnancial year,— (i) comply with the direction by including the infor­ mation required by subsection (2) or, as the case may be, subsection (3) in the report under section 26C; or comply with the direction within 20 working days after receiving it.
(ii) 123 Part 6 s 65ZA Public Finance Act 1989 Reprinted as at 1 November 2007 Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
65ZA Auditor­General may stop payments out of Bank (1) (2) Accounts This section applies if the Auditor­General has reason to be­ lieve that any money to be paid out of a Crown Bank Account or a Departmental Bank Account may be applied for a purpose that— (a) (b) is not lawful; or is not within the scope, amount, or period of any appro­ priation, or other authority, by or under an Act.
If this section applies, the Auditor­General may direct the Min­ ister, the Treasury or, as the case may be, the department con­ cerned to stop payments out of that Crown Bank Account or Departmental Bank Account.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
65ZB Application of this subpart to Ofﬁces of Parliament (1) Despite section 65S, an Ofﬁce of Parliament may open, main­ tain, and operate a Departmental Bank Account at a bank or banks that may be agreed between the Ofﬁce and the Treasury.

(2) Despite section 65U, an Ofﬁce of Parliament may pay receipts from borrowings into a Departmental Bank Account that it operates.
This subpart, if the context requires, applies to that Depart­ mental Bank Account as if— (a) (3) references to a department were references to an Ofﬁce of Parliament; and the money disbursed by the Treasury under section 65U(2)(a) were disbursed on a basis agreed between the chief executive of the Ofﬁce concerned and the Secretary; and the powers of the Minister or the Treasury under section 65W in respect of a Departmental Bank Account were (b) (c) 124 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 6 s 65ZD (d) to be exercised on a basis agreed between the Minister and the Speaker; and the investment of money held in a Departmental Bank Account operated by an Ofﬁce of Parliament, in accord­ ance with section 65I, were on a basis agreed between the Treasury and the Ofﬁce concerned.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Subpart 6—Guarantees and indemnities Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Limits on giving by the Crown of guarantees and indemnities 65ZC Guarantee or indemnity by the Crown must not be given except under statute Except as expressly authorised by any Act, it is not lawful for any person to give a guarantee or indemnity on behalf of or in the name of the Crown.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

65ZD Minister may give guarantee or indemnity if in public (1) (2) interest The Minister, on behalf of the Crown, may give, in writing, a guarantee or indemnity to a person, organisation, or govern­ ment if it appears to the Minister to be necessary or expedient in the public interest to do so.
The Minister may— (a) give the guarantee or indemnity on any terms and con­ ditions that the Minister thinks ﬁt; and 125 Part 6 s 65ZE Public Finance Act 1989 Reprinted as at 1 November 2007 (3) (4) (b) in the case of a guarantee, give the guarantee in respect of the performance or non­performance of any duties or obligations by the person, organisation, or government.
If the contingent liability of the Crown under a guarantee or indemnity given under this section exceeds $10,000,000, the Minister must, as soon as practicable after the guarantee or indemnity is given,— (a) publish in the Gazette a statement that the guarantee or indemnity has been given; and (b) present the statement to the House of Representatives.

The statement may contain any details about the guarantee or indemnity that the Minister considers appropriate.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
65ZE Departments may give guarantee or indemnity speciﬁed in regulations if in public interest (1) A department, on behalf of or in the name of the Crown, may give, in writing, a guarantee or indemnity of a type speciﬁed in regulations made under section 81 to a person or organisation if it appears to the department to be necessary or expedient in the public interest to do so.

(2) A department must give the guarantee or indemnity on the prescribed terms and conditions (if any).
If the contingent liability of the Crown under a guarantee or in­ demnity given by a department under subsection (1) exceeds $10,000,000, the Responsible Minister must, as soon as prac­ ticable after the guarantee or indemnity is given,— (a) publish in the Gazette a statement that the guarantee or indemnity has been given; and (b) present the statement to the House of Representatives.
The statement may contain any details about the guarantee or indemnity that the Responsible Minister considers appropri­ ate.

This section does not limit section 65ZD.

Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section (3) (4) (5) 126 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 6 s 65ZG 16 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

Other provisions relating to guarantees and indemnities 65ZF Recovery of money paid under guarantee (1) Any money paid by the Crown under a guarantee given under section 65ZD or section 65ZF constitutes a debt due to the Crown from the person, organisation, or government for whom the guarantee was given.
(2) A debt referred to in subsection (1)— is recoverable in any court of competent jurisdiction: (a) (b) may be paid over any period of time and on any terms and conditions that the Minister thinks ﬁt: (c) may be written down by the Minister (except that the debt must not be written down below its market value other than in accordance with an appropriation, or other authority, by or under an Act).

This section does not limit or affect any other rights that the Crown may have as guarantor.
Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
(3) 65ZG Payments in respect of guarantees or indemnities Any money paid by the Crown under a guarantee or indem­ nity given under section 65ZD and any expenses incurred by the Crown in relation to the guarantee or indemnity may be incurred without further appropriation, and must be paid with­ out further authority, than this section.
Compare: 1989 No 44 ss 18, 20, 23, 33(2), (3), 34, 44A(4), 44D, 46­48, 50­65, 70F Parts 4 to 6 (comprising sections 33 to 65A) were substituted by new Parts 4 to 6 (comprising sections 33 to 65ZG), as from 25 January 2005, by section 16 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
127 Part 7 s 66 Public Finance Act 1989 Reprinted as at 1 November 2007 66 (1) Part 7 Trust money The heading to Part 7 was substituted, as from 25 January 2005, by section 17 Public Finance Amendment Act 2004 (2004 No 113).

The previous heading read “Trust Money”.

See sections 32 to 36 of that Act as to the transitional provisions.
Trust money The following money shall be deemed to be trust money: (a) Money that is deposited with the Crown pending the completion of a transaction or dispute and which may become repayable to the depositor or payable to the Crown or any other person: (b) All money that is paid into Court for possible repayment to the payee or a third party, by virtue of any Act, rule, or authority whatsoever: All money that is paid to the Crown in trust for any purpose: (c) (d) Money that belongs to or is due to any person and is collected by the Crown pursuant to any agreement be­ tween the Crown and that person: Unclaimed money that is due to or belongs to any per­ son and is deposited with the Crown.
(e) (2) All trust money held by the Crown shall be accounted for sep­ arately from public money.

(3) All trust money shall be the responsibility of the Treasury on behalf of the Crown.

The Treasury may appoint a department or any agent to man­ age some or all trust money on such terms and conditions as the Treasury from time to time determines.
The Crown or the agent appointed under subsection (4) of this section may charge a fee for the management of trust money at such rate or rates as the Minister from time to time determines.

Such fee shall be payable from trust money held.


Compare: 1977 No 65 ss 42, 52 Establishment of bank accounts for trust money There shall be established at any bank or banks approved by the Minister a bank account or accounts to be known as Trust (4) (5) 67 (1) 128 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 7 s 69 Bank Accounts, to be operated and maintained by the Treasury or by a department or any agent appointed by the Treasury.
(2) All trust money shall be lodged in a Trust Bank Account.

(3) The Minister or the Treasury may give directions as to any terms and conditions under which a Trust Bank Account may be operated.
68 (1) Investment of trust money The Treasury or any agent of the Crown appointed by the Treasury for the purpose may from time to time invest any trust money held by the Crown for such periods and on such terms and conditions as it thinks ﬁt— (a) On deposit with any bank in New Zealand or any bank outside New Zealand approved by the Minister for the purpose; or In public securities; or In such other securities as the Minister may from time to time approve for the purpose— (b) (c) and may from time to time sell or convert into money any such securities.
(2) All proceeds of the investments and all money received from any sale or conversion of securities shall be deemed to be trust money.

(3) No person shall have any right of action against the Crown or any agent of the Crown in respect of any investment or non­investment of any money to which this section relates.
Payment of interest on trust money 69 (1) When any trust money held by the Crown becomes repayable to the depositor or payable to any other person entitled thereto, where it is practicable to do so there shall be added the amount of interest (if any) certiﬁed by the Treasury to have been earned thereon.
(2) Where interest has been earned on any trust money but it is not practicable to add that interest to the trust money to be repaid to the depositor or to be paid to any other person entitled thereto, that interest shall be deemed to be public money and shall be transferred to the Crown Bank Account.

129 Part 7 s 70 Public Finance Act 1989 Reprinted as at 1 November 2007 Subsection (2) was inserted, as from 1 July 1994, by section 48 Public Finance Amendment Act 1994 (1994 No 18).
Unclaimed trust money 70 (1) Any trust money that is unclaimed for a period of one year (or such longer period as the Minister directs) after having be­ come repayable to the depositor or payable to any other per­ son entitled thereto, shall, together with interest (if any) added thereto pursuant to section 69 of this Act, be deemed to be public money and shall be transferred to the Crown Bank Ac­ count.
If any person claims any trust money which has been deemed to be public money under this section, and establishes a claim to the satisfaction of the Treasury, the money shall be paid to that person out of the Crown Bank Account without further appropriation than this section.

(2) Part 7A Security and intelligence departments [Repealed] Part 7A (comprising sections 70A to 70K) was inserted, as from 1 July 1991, by section 2 Public Finance Amendment Act (No 2) 1991.
Part 7A (comprising sections 70A to 70K) was repealed, as from 25 January 2005, by section 18 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

70A Interpretation [Repealed] Part 7A (comprising sections 70A to 70K) was inserted, as from 1 July 1991, by section 2 Public Finance Amendment Act (No 2) 1991.
Parts 7A (comprising sections 70A to 70K) was repealed, as from 25 January 2005, by section 18 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

Appropriations [Repealed] 70B Nature of appropriation required [Repealed] Part 7A (comprising sections 70A to 70K) was inserted, as from 1 July 1991, by section 2 Public Finance Amendment Act (No 2) 1991.
130 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 7A s 70F Subsection (2) was amended, as from 1 July 1994, by section 49 Public Finance Amendment Act 1994 (1994 No 18) by substituting the words “expenses or liabilities” for the word “costs”.

Parts 7A (comprising sections 70A to 70K) was repealed, as from 25 January 2005, by section 18 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
70C Estimates [Repealed] Part 7A (comprising sections 70A to 70K) was inserted, as from 1 July 1991, by section 2 Public Finance Amendment Act (No 2) 1991.

Section 70C was substituted, as from 1 July 1994, by section 50(1) Public Fi­ nance Amendment Act 1994 (1994 No 18).

Parts 7A (comprising sections 70A to 70K) was repealed, as from 25 January 2005, by section 18 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Banking and investment [Repealed] 70D Departmental Bank Accounts [Repealed] Part 7A (comprising sections 70A to 70K) was inserted, as from 1 July 1991, by section 2 Public Finance Amendment Act (No 2) 1991.

Parts 7A (comprising sections 70A to 70K) was repealed, as from 25 January 2005, by section 18 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
70E Payment into Bank Accounts [Repealed] Part 7A (comprising sections 70A to 70K) was inserted, as from 1 July 1991, by section 2 Public Finance Amendment Act (No 2) 1991.

Parts 7A (comprising sections 70A to 70K) was repealed, as from 25 January 2005, by section 18 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
70F Power of Minister or Treasury in relation to Crown Bank Account and Departmental Bank Account [Repealed] Part 7A (comprising sections 70A to 70K) was inserted, as from 1 July 1991, by section 2 Public Finance Amendment Act (No 2) 1991.

131 Part 7A s 70G Public Finance Act 1989 Reprinted as at 1 November 2007 Parts 7A (comprising sections 70A to 70K) was repealed, as from 25 January 2005, by section 18 Public Finance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.

Reporting [Repealed] 70G Annual ﬁnancial statements [Repealed] Part 7A (comprising sections 70A to 70K) was inserted, as from 1 July 1991, by section 2 Public Finance Amendment Act (No 2) 1991.

Parts 7A (comprising sections 70A to 70K) was repealed, as from 25 January 2005, by section 18 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
70H Half­yearly ﬁnancial statements [Repealed] Section 70H was repealed, as from 21 December 1992, by section 35 Public Finance Amendment Act 1992 (1992 No 142).

70I Tabling of ﬁnancial statements [Repealed] Part 7A (comprising sections 70A to 70K) was inserted, as from 1 July 1991, by section 2 Public Finance Amendment Act (No 2) 1991.

Subsection (1) of section 39 was substituted, as from 21 December 1992, by section 36 Public Finance Amendment Act 1992 (1992 No 142).
Subsection (4) of section 39 was substituted, as from 2 April 2003, by section 31 Government Communications Security Bureau Act 2003 (2003 No 9).

Subsection (5) of section 39 was repealed, as from 2 April 2003, by section 31 Government Communications Security Bureau Act 2003 (2003 No 9).

Parts 7A (comprising sections 70A to 70K) was repealed, as from 25 January 2005, by section 18 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
70J Information to be provided to Treasury [Repealed] Part 7A (comprising sections 70A to 70K) was inserted, as from 1 July 1991, by section 2 Public Finance Amendment Act (No 2) 1991.

Parts 7A (comprising sections 70A to 70K) was repealed, as from 25 January 2005, by section 18 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
132 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 8 s 71AA 70K Treasury instructions [Repealed] Part 7A (comprising sections 70A to 70K) was inserted, as from 1 July 1991, by section 2 Public Finance Amendment Act (No 2) 1991.

Parts 7A (comprising sections 70A to 70K) was repealed, as from 25 January 2005, by section 18 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Part 8 General provisions The heading to Part 8 was substituted, as from 25 January 2005, by section 19 Public Finance Amendment Act 2004 (2004 No 113).

The previous heading read “General provisions”.

See sections 32 to 36 of that Act as to the transitional provisions.
71AA Delegation of Secretary’s powers (1) The Secretary may delegate to the chief executive of a depart­ ment (whether or not the department is listed in the Schedule 1 of the State Sector Act 1988) any power— (a) (b) conferred on the Secretary by this Act; or delegated to the Secretary by the Minister under this Act.

(3) (2) Without limiting subsection (1), the Secretary may delegate to the persons referred to in subsection (3) any power conferred on the Secretary by Part 6.
The persons are— (a) (b) (c) the Reserve Bank of New Zealand; or the Governor of the Reserve Bank of New Zealand; or the Deputy Governor of the Reserve Bank of New Zealand.

(4) (5) The Secretary’s power to delegate under this section is in add­ ition to the Secretary’s powers under section 41(1) of the State Sector Act 1988.

Section 41(2) to (7) of the State Sector Act 1988 applies in relation to a delegation under this section as if it were a dele­ gation made under section 41(1) of that Act.
Section 71AA was inserted, as from 25 January 2005, by section 20 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
133 Part 8 s 71 Public Finance Act 1989 Reprinted as at 1 November 2007 71 (1) (2) 72 (1) Payments on behalf of governments and international organisations The Minister may from time to time, without further appro­ priation than this section, pay out of the Crown Bank Account any money required for the purpose of making payments on behalf of the government of any other country, the United Na­ tions, or any other international organisation.
Payments shall not be made under this section unless the Min­ ister is satisﬁed that arrangements have been made for the government or other organisation concerned to repay any pay­ ments made on its behalf.
Compare: 1977 No 65 s 101 Payments on behalf of local authorities The Minister may from time to time, out of money appropri­ ated by Parliament for the purpose, pay out of the Crown Bank Account any money required for the purpose of defraying any charges or expenditure incurred by or on behalf of any local authority.

(2) All payments made under this section shall be repayable on such terms and conditions as the Minister thinks ﬁt.
(3) Notwithstanding subsection (2) of this section, any expense incurred or sum of money paid by the Crown on behalf of, or at the request of, a local authority, and any money owing to the Crown by a local authority, may be deducted by the Crown from any subsidies or other money accruing or payable by the Crown to the local authority.
Compare: 1977 No 65 s 102 Payment of ﬁnes to local authorities and other organisations that conduct prosecutions Subject to subsection (2) of this section and any other provi­ sion of any Act, where a local authority, or other organisation (other than a department, an Ofﬁce of Parliament, a Crown entity, or an organisation named or described in Schedule 4) that is speciﬁcally empowered to do so by any Act, or any per­ son on behalf thereof, prosecutes a person in a Court of law in respect of an offence and the prosecution results in the impos­ 73 (1) 134 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 8 s 74 (2) ition of a ﬁne, the amount of the ﬁne recovered shall be paid to the local authority or other organisation.
There shall be deducted from every amount payable to a local authority or other organisation under subsection (1) of this sec­ tion a sum equal to 10 percent thereof, and this sum shall be credited to the Crown Bank Account or a Departmental Bank Account: Provided that, where any money awarded by a Court in respect of any loss or damage is recovered as a ﬁne, no deduction under this subsection shall be made in respect of that money.
Compare: 1977 No 65 s 103 Subsection (1) was amended, as from 21 December 1992, by section 37(1) Pub­ lic Finance Amendment Act 1992 (1992 No 142) by substituting the words “Crown entity” for the words “Crown agency”.

Subsection (1) was amended, as from 25 January 2005, by section 21 Public Fi­ nance Amendment Act 2004 (2004 No 113) by substituting the words “a Crown entity, or an organisation named or described in Schedule 4” for the words “or a Crown entity”.
See sections 32 to 36 of that Act as to the transitional provi­ sions.

Subsection (2) was amended, as from 21 December 1992, by section 37(2) Pub­ lic Finance Amendment Act 1992 (1992 No 142) by inserting the words “or a Departmental Bank Account”.
Unclaimed money 74 (1) Unless otherwise provided in any Act, at the end of each ﬁnan­ cial year any money in any bank account of a department, Of­ ﬁce of Parliament, Crown entity, or organisation named or de­ scribed in Schedule 4 that has remained unclaimed for a period of 6 years from the date it was payable to the person entitled thereto, shall be deposited with the Treasury.
(2) Notwithstanding section 66 of this Act, all money deposited with the Treasury under subsection (1) of this section shall be public money and be paid into the Crown Bank Account.

(3) When money is deposited with the Treasury under subsection (1) of this section, the department, Ofﬁce of Parliament, or Crown entity concerned shall supply the Treasury with such particulars concerning the money as the Treasury requires.
(4) No person shall have any right of action against the Treasury or the Crown in respect of any investment or non­investment of any money to which this section relates.
135 Part 8 s 75 Public Finance Act 1989 Reprinted as at 1 November 2007 (5) If any person claims any money deposited with the Treasury under subsection (1) of this section and establishes a claim to the satisfaction of the Treasury, the money shall be paid to the person out of the Crown Bank Account without further appropriation than this section.
(6) Where any money paid to any claimant under this section, is afterwards claimed by any other person, neither the Treasury nor the Crown shall be under any liability to such other person by reason of having paid money to the ﬁrst claimant.

Compare: 1977 No 65 s 108 Subsections (1) and (3) were amended, as from 21 December 1992, by section 38 Public Finance Amendment Act 1992 (1992 No 142) by substituting the words “Crown entity” for the words “Crown agency” wherever they occur.
Subsection (1) was amended, as from 25 January 2005, by section 22 Public Finance Amendment Act 2004 (2004 No 113) by substituting the words “Crown entity, or organisation named or described in Schedule 4” for the words “or Crown entity”.

See sections 32 to 36 of that Act as to the transitional provisions.
75 Minister may exercise powers relating to bona vacantia (1) Where any property or right belongs to the Sovereign as bona vacantia, the Minister may from time to time on behalf of the Sovereign, exercise any power, function, and right (includ­ ing any power of disposal) and undertake and perform any obligation, in respect of or in connection with the property or right that could be exercised, undertaken, or performed by the Sovereign.
(2) Where the Minister or any department, on the application of any persons, performs any act under subsection (1) of this sec­ tion the Minister or department shall be entitled to charge such person with all reasonable fees and costs incurred.

(3) Nothing in this section shall derogate from any other enact­ ment or rule of law.
Compare: 1977 No 65 s 108; 1980 No 7 s 7 Subsection (1) was amended, as from 25 January 2005, by section 23 Public Finance Amendment Act 2004 (2004 No 113) by substituting the words “the Sovereign” for the words “Her Majesty” wherever it appears.

See sections 32 to 36 of that Act as to the transitional provisions.
Offences Every person commits an offence against this Act who, with­ out reasonable excuse,— 76 (1) 136 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 8 s 77 (a) (b) Refuses or fails to produce any information that is in that person’s possession or under that person’s control in relation to the ﬁnancial management, ﬁnancial per­ formance, or banking activities of a department or in relation to the management or control of any Crown as­ set or liability when required to do so pursuant to this Act; or Resists or obstructs any person acting in the discharge of that person’s functions or duties or in the exercise of that person’s powers under this Act.
Every person commits an offence against this Act who— (a) Without reasonable excuse, refuses or neglects to pay any public money into a Crown Bank Account or a De­ partmental Bank Account; or (b) Without reasonable excuse, refuses or neglects to pay any trust money into a Trust Bank Account; or (c) Makes any statement or declaration, or gives any infor­ mation or certiﬁcate, required by or pursuant to this Act, knowing it to be false or misleading; or (d) Does any act for the purpose of procuring for that person or for any other person or organisation— (i) The improper payment of any public money or trust money; or The improper use of any public ﬁnancial re­ source.
(ii) Compare: 1977 No 65 s 109 Penalties for offences Every person who commits an offence against subsection (1) of section 76 of this Act is liable on summary convic­ tion,— (a) In the case of an individual, to a ﬁne not exceeding $2,000: In the case of a person or organisation other than an individual, to a ﬁne not exceeding $5,000.
(b) (2) 77 (1) (2) Every person who commits an offence against subsection (2) of section 76 of this Act is liable on summary convic­ tion,— 137 Part 8 s 78 Public Finance Act 1989 Reprinted as at 1 November 2007 (a) (b) In the case of an individual, to imprisonment for a term not exceeding 12 months, or to a ﬁne not exceeding $5,000: In the case of a person or organisation other than an individual, to a ﬁne not exceeding $15,000.
Compare: 1977 No 65 s 110 78 79 (1) Time for commencing proceedings Notwithstanding section 14 of the Summary Proceedings Act 1957, any information in respect of any offence against this Act may be laid at any time within 2 years from the time when the matter of the information arose.
Information to be provided to Treasury The Treasury may from time to time request information from a department in relation to the ﬁnancial management, ﬁnan­ cial performance, or banking activities of the department or in relation to the management or control of any Crown asset or liability.

(2) Any request for information made in accordance with subsec­ tion (1) of this section shall be complied with by the depart­ ment.
(3) Despite subsections (1) and (2), the Treasury may request in­ formation under this section about an intelligence and security department— (a) only if the Secretary and the chief executive of that de­ partment agree and only to the extent of that agreement; or if there is no agreement under paragraph (a), only if the Minister and the Responsible Minister jointly decide that the Treasury may make the request.
(b) Compare: 1977 No 65 s 111 Subsection (3) was inserted, as from 25 January 2005, by section 24 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Treasury instructions Subject to the provisions of this Act and of any regulations made under this Act, the Treasury may issue instructions to 80 (1) 138 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 8 s 80A departments for all or any of the purposes speciﬁed in section 81(1)(a), (ab), (b), (bc), (bd), or (c) to (e).

(2) A chief executive of a department must comply with any in­ structions issued under this section to the extent that the in­ structions apply to that department.
(3) Despite subsections (1) and (2), the Treasury may issue in­ structions under this section to an intelligence and security de­ partment— (a) only if the Secretary and the chief executive of that de­ partment agree and only to the extent of that agreement; or if there is no agreement under paragraph (a), only if the Minister and the Responsible Minister jointly decide that the Treasury may issue the instructions.
(b) (4) The Treasury must publish the instructions on the Internet as soon as practicable after issuing them.

Section 80 was substituted, as from 25 January 2005, by section 25 Public Fi­ nance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
80A Minister of Finance instructions (1) Subject to the provisions of this Act and of any regulations made under this Act, the Minister may issue instructions under subsection (3) for all or any of the purposes referred to in that subsection, rather than recommend the making of regulations under section 81.
In deciding whether to issue instructions under subsection (3) rather than recommend the making of regulations under section 81, the Minister must have regard to only— (a) the importance of the instructions, including whether the instructions have a material effect on the rights and interests of individuals: the subject matter of the instructions, including whether the instructions contain detailed or technical matters rather than matters of general principle: the application of the instructions, including whether the instructions apply principally to a particular group rather than to the general public.
The Minister may issue instructions,— (b) (c) (2) (3) 139 Part 8 s 81 Public Finance Act 1989 Reprinted as at 1 November 2007 (a) (b) for all or any of the purposes speciﬁed in section 81(1)(ac) or (ba), to— a department; or (i) an Ofﬁce of Parliament; or (ii) an organisation named or described in Schedule (iii) 4; and for all or any of the purposes speciﬁed in section 81(1)(a), (b), or (c), to an entity referred to in section 27(3)(a) to (f).
(4) A chief executive of a department, an Ofﬁce of Parliament, an organisation named or described in Schedule 4, or an en­ tity referred to in section 27(3)(a) to (f) must comply with any instructions issued under this section to the extent that the in­ structions apply to that department, Ofﬁce, organisation, or en­ tity.
(5) Any instructions issued under this section for the purposes of section 81(1)(ba) must be consistent, in the opinion of the Min­ ister, with generally accepted accounting practice and any re­ porting standard imposed by or under any other Act, to the extent that those matters are relevant to those instructions.
(6) Any instructions issued under this section— (a) (b) are to be treated as regulations for the purposes of the Regulations (Disallowance) Act 1989; but are not regulations for the purposes of the Acts and Regulations Publication Act 1989.

The Minister must notify the instructions in the Gazette, and publish them on the Internet, as soon as practicable after issu­ ing them.

Section 80A was inserted, as from 25 January 2005, by section 25 Public Fi­ nance Amendment Act 2004 (2004 No 113).
See sections 32 to 36 of that Act as to the transitional provisions.
Regulations, Orders in Council, and notices The Governor­General may from time to time, by Order in Council made on the recommendation of the Minister, make regulations for all or any of the following purposes: (a) Requiring information to be supplied to the Treasury by departments and any entities referred to in section 27(3)(a) to (f) to enable the Treasury to properly fulﬁl (7) 81 (1) 140 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 8 s 81 the functions imposed on it by the Government or any Act: (ac) (ab) prescribing the processes and data standards to be used when supplying the information required under para­ graph (a): prescribing minimum requirements concerning the publication of information that departments, Ofﬁces of Parliament, and organisations named or described in Schedule 4 must publish under this Act: prescribing particular accounting policies and ﬁnancial statement representations that Ministers, departments, Ofﬁces of Parliament, Crown entities, or organisations named or described in Schedule 4 must apply in their ﬁnancial reporting: (b) (ba) prescribing the non­ﬁnancial reporting standards that Ministers, departments, Ofﬁces of Parliament, or organ­ isations named or described in Schedule 4 must apply and the form in which they must provide the informa­ tion they are required to present to the House of Repre­ sentatives under this Act: specifying the types of guarantees or indemnities that may be given by departments on behalf of or in the name of the Crown under section 65ZE: (bb) (bc) prescribing the terms and conditions that must apply to those guarantees or indemnities referred to in paragraph (bb): (c) (d) (bd) prescribing any other matters relating to those guaran­ tees or indemnities referred to in paragraph (bb): Regulating the collection, receipt, custody, issue, ex­ penditure, control, and management of public money or trust money: Regulating the accounting and ﬁnancial management and control procedures relating to contracts of the Crown: Regulating the custody and
 control by the Crown of public securities and securities representing the invest­ ment of public money; and providing for the appoint­ ment of custodians of such securities and prescribing their functions, duties, and powers: (e) 141 Part 8 s 81 Public Finance Act 1989 Reprinted as at 1 November 2007 (f) (g) (h) (i) (j) Regulating the issue, registration, transfer, control, and redemption of government stock or any other public se­ curities issued within New Zealand: Regulating the employment of Crown Solicitors (not being members of the Public Service) for the conduct of the legal business of the Crown; and providing for the payment to such Crown Solicitors of such fees, al­ lowances, and expenses as may be ﬁxed or determined by or in accordance with the regulations: Prescribing the fees, allowances, and expenses payable by the Crown to witnesses and interpreters in judicial proceedings; and empowering any speciﬁed person or persons to increase the fees in special cases: Prescribing offences in respect of the contravention of, or non­compliance with, any regulations made under this Act or any requirement or direction made or given pursuant to any such regulations; and prescribing penal­ ties not exceeding $2,000 in respect of any offences pre­ scribed under this paragraph: Providing for such other matters as are contemplated by or necessary for giving full effect to this Act and for the due administration thereof.
(2) Any Order in Council made under paragraph (g) of subsection (1) of this section, and any provision of any such order, may, to the extent that that order or that provision prescribes the fees, allowances, and expenses payable to Crown Solicitors, be ex­ pressed to apply in respect of work done by Crown Solicitors on and after any date, whether before or after the date of the making of the order or the date of the commencement of this Act.
(3) Without limiting any other provision of this Act, the Minis­ ter may give notice in the Gazette of the exercise of any of the Minister’s powers under this Act, or of any direction, de­ termination, requirement, or instruction given or made by the Minister under this Act.

Any notice given under this subsec­ tion may at any time be varied or revoked by a subsequent notice.
(4) Any regulations made under this section must be consistent, in the opinion of the Minister, with generally accepted account­ 142 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 8 s 82 ing practice, and any reporting standard imposed by or under any other Act, to the extent that those matters are relevant to those regulations.
Compare: 1977 No 65 s 113(1), (1A), (3); 1986 No 67 s 9 Subsection (1) was amended, as from 25 January 2005, by section 26(1) Public Finance Amendment Act 2004 (2004 No 113) by inserting the words “made on the recommendation of the Minister” after the word “Council”.

See sections 32 to 36 of that Act as to the transitional provisions.
Subsection (1)(a) was amended, as from 21 December 1992, by section 39 Pub­ lic Finance Amendment Act 1992 (1992 No 142) by substituting the words “Crown entity” for the words “Crown agency” wherever they occur.

Subsection (1)(a) was amended, as from 25 January 2005, by section 26(2) Pub­ lic Finance Amendment Act 2004 (2004 No 113) by substituting the words “de­ partments and any entities referred to in section 27(3)(a) to (f)” for the words “departments, Ofﬁces of Parliament, and Crown entities”.
See sections 32 to 36 of that Act as to the transitional provisions.

Subsection (1)(ab) and (ac) was inserted, as from 25 January 2005, by section 26(3) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

Subsection (1)(b) was amended, as from 21 December 1992, by section 39 Pub­ lic Finance Amendment Act 1992 (1992 No 142) by substituting the words “Crown entity” for the words “Crown agency” wherever they occur.
Subsection (1)(b) was substituted, as from 25 January 2005, by section 26(4) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

Subsection (1)(ba) to (bd) was inserted, as from 25 January 2005, by section 26(4) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Subsection (4) was inserted, as from 25 January 2005, by section 26(5) Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
82 (1) Consultation and approval requirements for regulations or instructions relating to reporting standards This section applies to— (a) any regulations that are proposed to be made under sec­ tion 81(1)(ba) or any instructions that are proposed to be issued by the Minister to departments or organisations named or described in Schedule 4, under section 80A, for the purposes of section 81(1)(ba); and any regulations that are proposed to be made under sec­ tion 81(1)(ac) or (ba) in relation to Ofﬁces of Parliament or any instructions that are proposed to be issued by the (b) 143 Part 8 s 83 Public Finance Act 1989 Reprinted as at 1 November 2007 (2) (3) (4) (5) (6) 83 (1) Minister to Ofﬁces of Parliament, under section 80A, for the purposes of section 81(l)(ac) or (ba).
The Minister must prepare and submit to the Speaker a draft of any regulations or instructions to which this section applies.

The Speaker must present the draft regulations or instructions to the House of Representatives as soon as is reasonably prac­ ticable.
In the case of regulations or instructions to which subsection (1)(a) applies, the Minister, after considering any comments of the Speaker or any committee of the House of Representa­ tives that considered the draft regulations or instructions, may amend them as the Minister thinks ﬁt.
In the case of regulations or instructions to which subsection (1)(b) applies, the Minister may recommend that the regula­ tions be made or may issue the instructions only after they have been approved by resolution of the House of Representatives.

The Minister must, as soon as practicable after issuing in­ structions to which subsection (1) applies, present them to the House of Representatives.
Subsection (3) was amended, as from 1 July 2000, by section 39 Parliamentary Service Act 2000 (2000 No 17), by substituting the expression “9(2A)(f)” for the expression “9(2)(i)”.

Section 82 was substituted, as from 25 January 2005, by section 27 Public Fi­ nance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Abolition of certain accounts The following accounts are hereby abolished: (a) (b) (c) (d) (e) (f) (g) The Public Account: The Consolidated Account: The Loans Account: The Reserve Account: The Loans Redemption Account: The Trust Account: The Energy Account.

(2) All bank accounts forming part of any of the accounts speciﬁed in subsection (1) of this section on the 1st day of July 1989 shall be deemed to form part of the Crown Bank Account.
144 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 8 s 84 (3) Notwithstanding subsection (2) of this section, all money held in an imprest account operated by a department on the 1st day of July 1989 shall be transferred to and deemed part of a De­ partmental Bank Account opened and operated by that depart­ ment.
(4) Notwithstanding subsection (2) of this section all money held in the Public Account to the credit of the Trust Account which is trust money pursuant to section 66 of this Act at the 1st day of July 1989 shall be transferred to a Trust Bank Account and dealt with in accordance with Part 7 of this Act.
Where money is held in the Trust Account on the 30th day of June 1989 but it is uncertain whether such money is public money or trust money under this Act, then notwithstanding section 66 of this Act, such money shall, at the discretion of the Minister, be deemed to be trust money until no later than the 1st day of January 1990.

(6) (5) Any investment of money relating to subsection (4) of this section shall be deemed to be an investment of trust money under Part 7 of this Act.
Subject to subsections (3) and (4) of this section, all money that, if this section had not been passed, would be payable into or out of any of the accounts speciﬁed in subsection (1) of this section, shall be paid into or out of a Crown Bank Account.
Every reference to any of the accounts speciﬁed in subsection (1) of this section in any Act, regulation, order, agreement, deed, instruction, application, notice, or other document what­ ever shall, unless the context otherwise requires, be read as a reference to a Crown Bank Account.

Subsections (6) and (7) were amended, as from 25 January 2005, by section 28 Public Finance Amendment Act 2004 (2004 No 113) by substituting the words “a Crown Bank Account” for the words “the Crown Bank Account”.
See sections 32 to 36 of that Act as to the transitional provisions.
(7) 84 Registration of public securities, local authority stock, and other stock Notwithstanding the repeal by section 87 of the Act of— (a) Part 6A of the Reserve Bank of New Zealand Act 1964: (b) 145 Part 8 s 85 Public Finance Act 1989 Reprinted as at 1 November 2007 (c) (d) Section 4 of the Reserve Bank of New Zealand Amend­ ment Act 1977 and so much of Schedule 3 as relates to section 109(2A) of the Local Authorities Loans Act 1951: Section 4(5) of the Public Finance Amendment Act 1980,— those provisions shall continue to apply to— (e) All public securities registered before the date on which regulations made under section 81(1)(f) of this Act come into force: (f) (g) All other stock.
Paragraph (a) was repealed, as from 27 July 1996, by section 15(1) Local Gov­ ernment Amendment Act (No 3) 1996 (1996 No 83).

Paragraph (f) was amended, as from 21 December 1992, by section 40 Public Finance Amendment Act 1992 (1992 No 142) by substituting the word “Local” for the word “Public”.

Paragraph (f) was repealed, as from 27 July 1996, by section 15(1) Local Gov­ ernment Amendment (No 3) 1996 (1996 No 83).
Government stock in United Kingdom 85 (1) Notwithstanding section 163 or any other provision of the Pub­ lic Finance Act 1977 or any other provision of this Act, sec­ tions 2, 41 to 47, and 49 of the New Zealand Loans Act 1953 shall continue to have effect in respect of all New Zealand Government securities (as deﬁned in that Act) that— (a) Have been registered with the Bank of England in the United Kingdom before the day this Act comes into force; and (b) Have not been transferred to the register kept in New Zealand pursuant to section 44 of that Act— as if the Public Finance Act 1977 and this Act had not been passed and as if references in sections 41 and 47 of the New Zealand Loans Act 1953 to the New Zealand Public Account in London were references to the Crown Bank Account and the reference in section 43 of the New Zealand Loans Act 1953 (as amended by section 4(4) of the Public Revenues Amendment Act 1963) to the Consolidated Revenue Account was a refer­ ence to the Crown Bank Account.
146 Reprinted as at 1 November 2007 Public Finance Act 1989 Part 8 s 88 (2) Any New Zealand Government securities transferred to the register kept in New Zealand pursuant to section 44 of the New Zealand Loans Act 1953 shall be deemed to be Government stock issued pursuant to section 63 of this Act.

Subsection (2) was amended, as from 25 January 2005, by section 29 Public Finance Amendment Act 2004 (2004 No 113) by substituting the expression “section 63” for the expression “section 53”.
See sections 32 to 36 of that Act as to the transitional provisions.

86 (1) (2) 87 Consequential amendments The enactments speciﬁed in Schedule 1 to this Act are hereby amended in the manner indicated in that Schedule.

The amendments to sections 2, 5, 9, and 10 of the Goods and Services Tax Act 1985 speciﬁed in Schedule 1 to this Act are to apply to supplies made on or after the 1st day of July 1989.

Repeals The enactments speciﬁed in Schedule 2 to this Act are hereby repealed.
Transitional provisions 88 (1) Notwithstanding section 87 of this Act, the provisions of sec­ tion 52A of the Public Finance Act 1977 and Schedule 5 to that Act shall remain in force until the coming into force of the ﬁrst Appropriation Act after the 1st day of July 1989 or, in the case of the revolving funds operated by the Department of Internal Affairs, and the Department of Maori Affairs, after the 1st day of July 1990: Provided that each revolving fund speciﬁed in Schedule 5 shall become a Departmental Bank Account operated by the depart­ ment speciﬁed as the operating department in that Schedule.
(2) Notwithstanding Part 3 of this Act, until the 1st day of July 1991 the ﬁnancial statements of the Crown prepared pursuant to sections 27 and 28 of this Act need not include the state­ ments described in section 27(2)(a) and (b) of this Act and the statement of cash ﬂows prepared in accordance with section 27(2)(c) of this Act shall be a receipts and payments statement.
(3) Notwithstanding anything in this Act, until the close of the 30th day of June 1993 the Housing Corporation of New 147 Part 8 s 88 Public Finance Act 1989 Reprinted as at 1 November 2007 Zealand is deemed to be a department for the purposes of sections 7 and 9 of this Act: Provided that nothing in this subsection shall deem the money of the Housing New Zealand Corporation to be public money.
(4) (5) Notwithstanding any provision in any Act requiring receipts of any kind to be paid into a Departmental Bank Account, where a department is administering a Vote for which public money is appropriated pursuant to Mode A, the Treasury may direct that such receipts are to be paid into the Crown Bank Account.
(6) All money held on behalf of the Crown in an account outside the Public Account (as that term is deﬁned in the Public Fi­ nance Act 1977)— (a) Which is public money pursuant to this Act at the 1st day of July 1989 shall be transferred to and deemed part of the Crown Bank Account or a Departmental Bank Account in accordance with section 20 of this Act; (b) Which is trust money pursuant to section 66 of this Act at the 1st day of July 1989 shall be transferred to a Trust Bank Account and dealt with in accordance with Part 7 of this Act.
(7) Where money is held on behalf of the Crown in an account outside the Public Account on the 30th day of June 1989 but it is uncertain whether such money is public money or trust money under this Act, then notwithstanding section 66 of this Act, such money shall, at the discretion of the Minister, be deemed to be trust money until no later than the 1st day of January 1990.
(8) Any investment of money relating to paragraph (a) of subsec­ tion (6) of this section shall be deemed to be an investment of public money under Part 2 of this Act, and any investment of money relating to paragraph (b) of subsection (6) or subsec­ tion (7) of this section shall be deemed to be an investment of trust money under Part 7 of this Act.
Subsection (1) was amended, as from 30 June 1990, by section 31(1) Acts and Regulations Publication Act 1989 (1989 No 142) by omitting the words “the Government Printing Ofﬁce”.
Subsection (3), as earlier amended by section 2 Public Finance Amendment Act 1990 (1990 No 48) and, from 5 March 1991, by section 3 Public Finance 148 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 1 Amendment Act 1991 (1991 No 6), was amended, as from 1 July 1992, by section 16(1) Housing Corporation Amendment Act 1992 (1992 No 78), by substituting the words “the close of the 30th day of June 1993” for the words “the close of the 30th day of June 1992”.
The proviso to subsection (3) was amended, as from 1 July 2001, by section 24(1) Housing Corporation Amendment Act 2001 (2001 No 37) by substituting the words “Housing New Zealand” for the words “the Housing”.

Subsection (4) was repealed by section 3 Public Finance Amendment Act (No 2) 1991 (1991 No 99).
Schedule 1 Enactments consequentially amended Section 86 Act Amended Amendment 1908, No 89—The Judicature Act 1908 (RS Vol 22 p 107) 1921, No 12—The Hunter Gift for the Settlement of Discharged Soldiers Act 1921 (RS Vol 7, p 331) By omitting from section 9A (as in­ serted by section 2 of the Judicature Amendment Act (No 3) 1985) the words “the Consolidated Account”, and substi­ tuting the words “public money”.
By omitting from section 26F(1) (as inserted by section 5 of the Judicature Amendment Act 1986) the words “the Consolidated Account”, and substituting the words “public money”.
By repealing section 4 (as substituted by section 2(1) of the Hunter Gift for the Settlement of Discharged Soldiers Amendment Act 1979), and substituting the following section: “4 Special Trust Account Established There shall continue to be an ac­ count called the Hunter Soldiers Assistance Trust Account (here­ inafter referred to as the Hunter 149 Schedule 1 Public Finance Act 1989 Reprinted as at 1 November 2007 Act Amended Amendment Trust Account) which shall be op­ erated as a Trust Bank Account pursuant to section 67 of the Pub­ lic Finance Act 1989 By inserting in section 5(1) and (2), 6, 7, and 8, before the words “Trust Account”, the word “Hunter”.
By omitting from section 13A(1) as inserted by section 10(1) of the Maori Purposes Act 1957) the words “received into the Public Account from or on behalf of that Maori, to be held in an account in his name”, and substituting the words “lodged by or on behalf of that Maori in a Trust Bank Account in his name”.
By omitting from section 14 (as amended by section 160(1) of the Public Finance Act 1977) the words “section 97 of the Public Finance Act 1977”, and substituting the words “the Public Finance Act 1989”.

By repealing section 9(2).

By repealing section 5(2).
1935, No 34—The Maori Housing Act 1935 (RS Vol 8, p 413) 1936, No 5—The Marketing Act 1936 (RS Vol 10, p 1) 1937, No 21—The Marketing Amendment Act 1937 (RS Vol 10, p 14) 1939, No 40—The Marketing Amendment Act 1939 (RS Vol 10, p 20) 150 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 1 Act Amended Amendment 1947, No 16—The District Courts Act 1947 (RS Vol 5, p 1) 1948, No 14—The Land Act 1948 (RS Vol 23, p 559) By omitting from section 6(1) (as substi­ tuted by section 2 of the District Courts Amendment Act (No 3) 1985) the words “the Consolidated Account”, and substi­ tuting the words “public money”.
By omitting from section 115 the words “form part of the Consolidated Ac­ count”, and substituting the words “be paid into a Crown Bank Account or a Departmental Bank Account in accord­ ance with the Public Finance Act 1989”.
By omitting from section 67(3) (as added by section 2 of the Land Amendment Act 1959 and amended by section 80(1) of the National Parks Act 1980)— (a) The words “deposit account”, in both places where they occur, and substituting the words “Depart­ mental Bank Account”; and The words “to the Public Account to the credit of the Trust Account”, and substituting the words “and paid”.

(b) By repealing section 181(3) (as substi­ tuted by section 139(3) of the Public Fi­ nance Act 1977).
151 Schedule 1 Public Finance Act 1989 Reprinted as at 1 November 2007 Act Amended Amendment 1952, No 51—The Property Law Act 1952 (RS Vol 22, p 773) 1953, No 53—The Maori Trustee Act 1953 (RS Vol 3, p 393) 1953, No 64—The Patents Act 1953 (RS Vol 10, p 563) By omitting from section 102A(3) (as inserted by section 11 of the Public Finance Amendment Act 1986) the words “the Trust Account established under section 42 of the Public Finance Act 1977”, and substituting the words “a Trust Bank Account established under section 67 of the Public Finance Act 1989”.
By repealing subsection (2) of section 17.

By omitting from subsection (3) the words “, without further appropriation than this Act,”.

By omitting from section 115(1) the words “the Public Account to the credit of the Consolidated Account”, and sub­ stituting the words “a Departmental Bank Account”.

By omitting from section 115(2) the words “the Consolidated Account”, and substituting the words “public money”.
152 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 1 Act Amended Amendment 1953, No 65—The Designs Act 1953 (RS Vol 6, p 111) 1953, No 66—The Trade Marks Act 1953 (RS Vol 11, p 563) 1955, No 37—The Maori Trust Boards Act 1955 (RS Vol 8, p 683) the By omitting from section 47(1) words “the Public Account to the credit of the Consolidated Account”, and sub­ stituting the words “a Departmental Bank Account”.
By omitting from section 47(2) the words “the Consolidated Account”, and substituting the words “public money”.

By omitting from section 82(1) the words “the Public Account to the credit of the Consolidated Account”, and sub­ stituting the words “a Departmental Bank Account”.

the By omitting from section 82(2) words “the Consolidated Account”, and substituting the words “public money”.
By omitting from section 4(2), 6(2), 7(2), 7(3), 9(2), and 10(2) the words “the Con­ solidated Account”, and substituting in each case the words “public money”.

the By omitting from section 33(2) words “from the Public Account”, and substituting the words “of public money”.

the By omitting from section 33(5) words “authorised by this Act shall be made from the Public Account”, and substituting the words “of public money authorised by this Act shall be made”.
153 Schedule 1 Public Finance Act 1989 Reprinted as at 1 November 2007 Act Amended Amendment By omitting from section 41A(1) (as inserted by section 14 of the Maori Purposes Act 1957) the words “the Con­ solidated Account”, and substituting the words “public money”.
1955, No 51—The Housing Act 1955 (RS Vol 7, p 297) By omitting from section 32(2)(c) (as amended by section 136(a) of the Pub­ lic Finance Act 1977) the words “Public Account under section 99 of the Public Finance Act 1977”, and substituting the word “Crown”.
By repealing section 32(5) (as substi­ tuted by section 136(b) of the Public Fi­ nance Act 1977), and substituting the following subsection: “(5) Any money required by the Cor­ poration for the purposes of this Act or for the purposes of any other Act directing that money may be paid or loans made for the purposes of housing may be paid by the Minister of Finance to the Corporation out of public money appropriated by Parliament for the purpose.
By omitting from section 33 the words “Public Account to be credited to the Loans Redemption Account”, and sub­ stituting the words “Crown Bank Ac­ count”.
154 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 1 Act Amended Amendment 1956, No 47—The Government Superannuation Fund Act 1956 (RS Vol 21, p 209) 1956, No 63—The Local Authorities Loans Act 1956 (Reprinted 1974, Vol 3, p 2301) By omitting from section 81W(2) (as in­ serted by section 4 of the Government Superannuation Fund Amendment Act 1989) the words “the Consolidated Ac­ count”, and substituting the words “pub­ lic money”.
By omitting from section 88(2) (as sub­ stituted by section 2 of the Government Superannuation Fund Amendment Act 1987) the words “the Consolidated Ac­ count”, and substituting the words “pub­ lic money”.

(as By omitting from section 95(1) the amended by section 20(1) of Government Fund Amendment Act 1979) the words “the Consolidated Account”, and substituting the words “public money”.
Superannuation By repealing section 66 and substituting the following section: “66 Registration of stock Every local authority shall appoint a person to be the registrar of stock issued by that local authority.
By repealing subsection (3) of section 122 (as substituted by section 160(1) of the Public Finance Act 1977), and sub­ stituting the following subsection: “(3) All costs incurred by the Audit Of­ ﬁce in any such proceedings shall be paid out of the local fund ac­ count; and subject to the provi­ sions of section 73 of the Public Finance Act 1989 all money re­ 155 Schedule 1 Public Finance Act 1989 Reprinted as at 1 November 2007 Act Amended Amendment covered for ﬁnes and costs shall be deemed to be part of the local fund, and shall be paid into the local fund account accordingly.
By inserting in section 133, after subsec­ tion (1), the following subsection: “(1A) Without limiting the generality of subsection (1) of this section, regulations may be made regulat­ ing the issue, registration, transfer, control, and redemption of stock issued by local authorities under this Act or any corresponding for­ mer enactment.
By omitting from section 21(1) (as sub­ stituted by section 2 of the Public Trust Ofﬁce Amendment Act (No 2) 1983) the words “, without further appropri­ ation than this section”, and also the words “(other than the Public Trustee’s salary)”.

By repealing section 21(2).

By omitting from section 23(4) the words “, without further appropriation than this subsection”.
By omitting from section 23(5) (as amended by section 3(1)(a) of the Pub­ lic Trust Ofﬁce Amendment Act (No 2) 1983) the words “and without further appropriation than this section”.
By omitting from section 23(8) (as amended by section 3(2)(a) of the Pub­ lic Trust Ofﬁce Amendment Act (No 2) 1957, No 36—The Public Trust Ofﬁce Act 1957 (Reprinted 1976, Vol 5, p 4361) 156 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 1 Act Amended Amendment 1983) the words “and without further appropriation than this section”.
By omitting from section 23A(1) (as in­ serted by section 2 of the Public Trust Of­ ﬁce Amendment Act 1967 and amended by section 3(3)(a) of the Public Trust Ofﬁce Amendment Act (No 2) 1983) the words “and without further appropri­ ation than this subsection”.

By omitting from section 23A(8) (as so inserted and amended by section 3(3)(b) of the Public Trust Ofﬁce Amendment Act (No 2) 1983) the words “and with­ out further appropriation than this sub­ section”.
By omitting from section 24 (as amended by section 3(4) of the Public Trust Ofﬁce Amendment Act (No 2) 1983) the words “and without further appropriation than this subsection”.
By repealing subsection (1) of section 27 (as amended by section 151(a) of the Public Finance Act 1977), and substitut­ ing the following subsection: “(1) The Minister of Finance, where that Minister considers such a course necessary for the service of the Public Trust Ofﬁce, may authorise the expenditure of such sum or sums as that Minister may specify out of the Public Trustee’s Account.
By omitting from section 36 (as amended by section 151(c) of the Public Finance Act 1977) the words “the Public Ac­ count”, and substituting the words “pub­ lic money”.
157 Schedule 1 Public Finance Act 1989 Reprinted as at 1 November 2007 Act Amended Amendment By omitting from section 91(1)(b) and 91(2)(b) (as amended by section 151(d) of the Public Finance Act 1977) the words “Consolidated Account, and sub­ sections (3) and (4) of section 108 of the Public Finance Act 1977 shall ap­ ply in respect thereof as if it had been deposited with the Treasury pursuant to that section”, and substituting in each case the words “Crown Bank Account, and subsections (3) to (6) of section 74 of the Public Finance Act 1989 shall apply in respect thereof as if it had been deposited with the Treasury pursuant to that section”.
By repealing subsection (1) of section 120 (as substituted by section 151(e) of the Public Finance Act 1977), and sub­ stituting the following subsection: “(1) In order to facilitate the transac­ tion of business in the Public Trust Ofﬁce, regulations made pursuant to section 78(1)(e) of the Pub­ lic Finance Act 1989 (relating to the custody and control of secur­ ities by the Crown) shall not ap­ ply to documents of title (not be­ ing debentures or bonds constitut­ ing investments of the Common Fund) held by the Public Trustee.
158 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 1 Act Amended Amendment 1957, No 87—The Summary Proceedings Act 1957 (RS Vol 9, p 583) By omitting from section 208(4)(b) the words “the Public Account”, and substituting the words “a Crown Bank Account or a Departmental Bank Account in accordance with the Public Finance Act 1989”.
1961, No 3—The International Finance Agreements Act 1961 (RS Vol 16, p 207) By omitting from section 5 (as amended by section 160(1) of the Public Finance Act 1977) the words “the Loans Account or any other account of the Public Ac­ count”, and substituting the words “pub­ lic money”.

By omitting from section 6(3) (as amended by section 160(1) of the Public Finance Act 1977) the words “Part V of the Public Finance Act 1977”, and substituting the words “Part VI of the Public Finance Act 1989”.
By omitting from section 6(2) (as amended by section 160(1) of the Public Finance Act 1977) the words “the Pub­ lic Account for the credit of the Loans Account or of any other account”, and substituting the words “the Crown Bank Account”.
159 Schedule 1 Public Finance Act 1989 Reprinted as at 1 November 2007 Act Amended Amendment 1962, No 135—The Transport Act 1962 (RS Vol 16, p 659) 1963, No 70—The Fishing Industry Board Act 1963 (Reprinted 1976, Vol 5, p 3847) By omitting from section 90K (as inserted by section 7 of the Transport Amendment Act 1973 and amended by section 160(1) of the Public Finance Act 1977) the words “form part of the Trust Account speciﬁed in section 42 of the Public Finance Act 1977”, and substituting the words “be trust money under Part VII of the Public Finance Act 1989”.
By omitting from section 16(2)(b) (as amended by section 130(a) of the Public Finance Act 1977) the words “pursuant to section 86 of the Public Finance Act 1977”, and substituting the words “pur­ suant to the Public Finance Act 1989”.
By repealing subsection (3) of section 16 (as substituted by section 130(b) of the Public Finance Act 1977), and substitut­ ing the following subsection: “(3) All money required to be paid by the Minister of Finance under sub­ section (2)(a) of this section shall be paid out of public money ap­ propriated by Parliament for the purpose.
160 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 1 Act Amended Amendment 1964, No 27—The Decimal Currency Act 1964 (RS Vol 2, p 277) 1964, No 50—The Export Guarantee Act 1964 (RS Vol 16, p 129) 1966, No 19—The Customs Act 1966 (RS Vol 2, p 57) By omitting from section 10(1) the word “Minister”, and substituting the words “Reserve Bank of New Zealand”.
By repealing subsection (4) of section 10. the By omitting from section 10(6) words “the Consolidated Account”, and substituting the words “the Crown Bank Account”.

the By omitting from section 10(7) words “the Consolidated Account”, and substituting the words “public money”.

By omitting from section 21(3) the words “the Consolidated Account”, and substituting the words “public money”.
By amending section 226­— (a) By omitting the words “any rev­ enue in his hands and received under the Customs Acts”, and substituting the words “public money without further appropri­ ation than this section”.

By repealing paragraphs (c), (d), (e) and (f).

(b) By omitting from section 268 (as amended by section 14 of the Customs Acts Amendment Act (No 2) 1982) the words “the revenue of Customs”, and substituting the words “public money appropriated by Parliament”.
161 Schedule 1 Public Finance Act 1989 Reprinted as at 1 November 2007 Act Amended Amendment 1968, No 36—The Diplomatic Privileges and Immunities Act 1968 (RS Vol 17, p 171) 1968, No 63—The Guardianship Act 1968 (RS Vol 9, p 147) 1969, No 52—The Administration Act 1969 (RS Vol 19, p 1) 162 By omitting from section 21(2) the words “the Consolidated Account” in both places where they occur, and sub­ stituting the words “the Crown Bank Account”.
By omitting from section 21(3) the words “the Consolidated Account”, and substituting the words “public money”.

By omitting from section 28A(6) (as in­ serted by section 15 of the Guardianship Amendment Act 1980) the words “the Consolidated Account from”, and substi­ tuting the word “public”.

By omitting from section 30(4) (as sub­ stituted by section 18 of the Guardian­ ship Amendment Act 1980) the words “the Consolidated Account from”, and substituting the word “public”.
By omitting from section 64(1) (as amended by section 3 of the Adminis­ tration Amendment Act 1987) the words “Reserve Bank of New Zealand, as Registrar of Stock,”, and substituting the words “registrar of such stock”.

By omitting from the deﬁnition of the term Government stock in section 64(2) the words “Part V of the Public Finance Act 1977”, and substituting the Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 1 Act Amended Amendment words “Part VI of the Public Finance Act 1989”.
1970, No 143—The Pharmacy Act 1970 (RS Vol 21, p 691) 1971, No 53—The Armed Forces Discipline Act 1971 (RS Vol 23, p 33) 1971, No 55—The Finance Act 1971 (RS Vol 2, p537) By omitting from section 202(3)(a) and (c) (as amended by section 160(1) of the Public Finance Act 1977) the words “deposited with the Treasury, and subsections (2) to (4) of section 108 of the Public Finance Act 1977 shall apply to any money so deposited as if it were so deposited pursuant to subsection (1) of that section and as if the reference in subsection (3) of that section to a Government agency were a reference to the Secretary of Defence”, and substituting in each case the words “deposited with the Treasury, and subsections (2) to (6) of section 74 of the Public Finance Act 1989 shall apply to any money so deposited as if it were so deposited pursuant to subsection (1) of that section”.
By omitting from subsection (1) of section 4 the words “section 86 of the Public Finance Act 1977”, and substituting the words “the Public Finance Act 1989”.
163 Schedule 1 Public Finance Act 1989 Reprinted as at 1 November 2007 Act Amended Amendment 1972, No 4 (Private)—The Auckland Agricultural, Pastoral and Industrial Shows Board Act 1972 By omitting from section 14(2) (as substituted by section 160(1) of the Public Finance Act 1977) the words “section 103 of the Public Finance Act 1977”, and substituting the words “section 73 of the Public Finance Act 1989”.
1974, No 48—The Private Investigators and Security Guards Act 1974 1974, No 59—The Tourist Hotel Corporation Act 1974 (RS Vol 23, p 869) By omitting from section 19(5) the words “the Public Account to the credit of the Trust Account”, and substituting the words “a Trust Bank Account established under section 67 of the Public Finance Act 1989”.
By omitting from section 14(2)(b) (as amended by section 158(a) of the Pub­ lic Finance Act 1977) the words “sec­ tion 86 of the Public Finance Act 1977”, and substituting the words “the Public Finance Act 1989”.
By repealing subsection (4) of section 14 (as substituted by section 158(b) of the Public Finance Act 1977), and substitut­ ing the following subsection: “(4) All money required to be paid by the Minister of Finance under sec­ tion 13 of this Act or subsection (2)(a) of this section shall be paid out of public money appropriated by Parliament for the purpose.
164 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 1 Act Amended Amendment 1974, No 66—The Local Government Act 1974 (RS Vol 20, p 1) 1974, No 3 (Private)—The Palmerston North Showgrounds Act 1974 By repealing subsection (2) of section 13 (as substituted by section 160(1) of the Public Finance Act 1977), and substitut­ ing the following subsection: “(2) The Board is hereby declared to be a local authority for the purposes of section 73 of the Public Finance Act 1989.
1975, No 9—The Ombudsmen Act 1975 (RS Vol 21, p 657) By omitting from section 9(1) (as substituted by section 9(2) of the Higher Salaries Commission Amendment Act (No 2) 1985) the words “the Consolidated Account”, and substituting the words “public money”.

1975, No 25—The Trustee Companies Management Act 1975 By omitting from subsection (2) of sec­ tion 22 (as so amended) the words “All money so refunded to the Crown shall be credited upon receipt to the Consolidated Account”.
By omitting from subsection (3) of sec­ tion 22 and subsections (1) and (2) of section 23 (as so amended) the words “section 86 of the Public Finance Act 1977”, and substituting in each case the words “the Public Finance Act 1989”.
165 Schedule 1 Public Finance Act 1989 Reprinted as at 1 November 2007 Act Amended Amendment 1975, No 1 (Private)—The Eastwoodhill Trust Act 1975 1976, No 71—The Energy Resources Levy Act 1976 1977, No 4—The Chateau Companies Act 1977 166 By repealing subsection (2) of section 15 (as substituted by section 160(1) of the Public Finance Act 1977), and substitut­ ing the following subsection: “(2) The Board is hereby declared to be a local authority for the purposes of section 73 of the Public Finance Act 1989. the By omitting from section 17(4) words “Public Account, and shall be credited to the Consolidated Revenue Account”, and substituting the words “Crown Bank Account”.
By omitting from section 20 the words “the Consolidated Revenue Account”, and substituting the words “public money”.

By omitting from subsection (1) of sec­ tion 21 (as amended by section 160(1) of the Public Finance Act 1977) the words “money in the Consolidated Ac­ count”, and substituting the words “pub­ lic money”.

By omitting from subsection (2) of sec­ tion 21 (as so amended) the words “All money so refunded to the Crown shall be credited upon receipt to the Consolidated Account”.
By omitting from sections 21(3) and 22 (as so amended) the words “section Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 1 Act Amended Amendment 1977, No 65—The Public Finance Act 1977 1977, No 66—The Reserves Act 1977 86 of the Public Finance Act 1977”, and substituting in each case the words “the Public Finance Act 1989”.
By omitting from section 18(1) (as substituted by section 9(2) of the Higher Salaries Commission Amendment Act (No 2) 1985) the words “the Consolidated Account”, and substituting the words “public money”.

By omitting from section 78(1)(b) the words “into the Public Account to the credit of the Trust Account”, and substi­ tuting the words “in accordance with the Public Finance Act 1989 into the Crown Bank Account, the Department’s Depart­ mental Bank Account, or a Trust Bank Account”.
By omitting from section 78(2)(a)— (a) The words “into the Public Ac­ count to the credit of the Trust Account”, and substituting the words “in accordance with the Public Finance Act 1989 into the Crown Bank Account, a Depart­ mental Bank Account, or a Trust Bank Account”; and The words “Consolidated Ac­ count”, and substituting the words “Crown Bank Account”.
By omitting from section 78(3) the words “the Public Account to the credit of the Trust Account”, and substituting the words “a Trust Bank Account es­ (b) 167 Schedule 1 Public Finance Act 1989 Reprinted as at 1 November 2007 Act Amended Amendment tablished under section 67 of the Public Finance Act 1989”.
1977, No 84—The Gaming and Lotteries Act 1977 By omitting from section 113 (as inserted by section 3 of the Gaming and Lotteries Amendment Act 1987) the words “31st day of March”, and substituting the words “30th day of June”.

1977, No 112—The Contraception, Sterilisation and Abortion Act 1977 By omitting from section 42(2) the words “the Public Account”, and substituting the words “a Departmental Bank Account”.
1978, No 103—The Securities Act 1978 (RS Vol 15, p 533) By omitting from section 30 the words “31st day of March”, and substituting the words “30th day of June”.

By omitting from section 31D (as in­ serted by section 12 of the Securities Amendment Act 1982) the words “in the same manner in which money in the Pub­ lic Account may be invested pursuant to section 50 of the Public Finance Act 1977”, and substituting the words “pur­ suant to section 25 of the Public Finance Act 1989”.
168 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 1 Act Amended Amendment 1979, No 33—The Civil List Act 1979 1980, No 66—The National Parks Act 1980 By omitting from section 2 (as amended by section 2 of the Civil List Amendment Act 1985) the words “the Consolidated Account”, and substituting the words “public money”.

By omitting from section 7(7) the words “Consolidated Account” in both places where they occur, and substituting the words “Crown Bank Account”.
By omitting from section 7(8) the words “the Consolidated Account”, and substi­ tuting the words “public money”.

the By omitting from section 16(3) words “the Consolidated Account”, and substituting the words “public money”.

the By omitting from section 23(2) words “the Consolidated Account”, and substituting the words “public money”.
By omitting from section 57(1) the words “into the Public Account to the credit of the Trust Account constituted under section 42 of the Public Finance Act 1977”, and substituting the words “in accordance with the Public Finance Act 1989 into the Crown Bank Account, the Department’s Departmental Bank Account, or a Trust Bank Account”.

By omitting from section 58(1) the words “Public Account to the credit of the Trust Account”, and substituting the words “Crown Bank Account”.
By omitting from section 58(1)(a) and (b) the words “from the Public Account 169 Schedule 1 Public Finance Act 1989 Reprinted as at 1 November 2007 Act Amended Amendment and debited to the Trust Account”, and substituting in each case the words “out of public money”.

1980, No 94—The Family Proceedings Act 1980 By omitting from section 9(3) the words “the Consolidated Account from”, and substituting the word “public”.
By omitting from section 165(6) the words “the Consolidated Account from”, and substituting the word “public”.

1981, No 35—The Public Works Act 1981 By repealing subsection (3) of section 193.

By repealing subsection (2) of section 11.

1983, No 14—The Fisheries Act 1983 By omitting from section 107H (as so substituted) the words “Fisheries Fund (being a revolving fund to which section 52A of the Public Finance Act 1977 applies)”, and substituting the words “Crown Bank Account”.
1983, No 46—The Civil Defence Act 1983 By omitting from section 75(8) the words “from the Consolidated Account, out of”, and substituting the words “out of public”.
170 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 1 Act Amended Amendment 1985, No 141—The Goods and Services Tax Act 1985 (RS Vol 19, p 369) 1985, No 151—The Law Commission Act 1985 1986, No 5—The Commerce Act 1986 By adding to section 9, the following subsection: “(7) Notwithstanding anything in this section, where any public author­ ity is deemed to have supplied goods and services pursuant to paragraph (b) of section 5(6) of this Act, the supply shall, to the extent that the supply is brought to charge as revenue from the Crown, be deemed to take place in the taxable period in which the bringing to charge applies By omitting from clause 10 of Schedule 1 the words “in the same manner in which money in the Public Account may be invested pursuant to section 50 of the Public Finance Act 1977”, and substituting the words “pursuant to section 25 of the Public Finance Act 1989”.
By omitting from section 23 the words “in the same manner in which money in the Public Account may be invested pursuant to section 50 of the Public Finance Act 1977”, and substituting the words “pursuant to section 25 of the Public Finance Act 1989”.

1986, No 127—The Environment Act 1986 By omitting from section 9(1) the words “the Consolidated Account”, and substituting the words “public money”.
171 Schedule 1 Public Finance Act 1989 Reprinted as at 1 November 2007 Act Amended Amendment 1986, No 129—The Development Finance Corporation of New Zealand Act 1986 By omitting from section 8(2) as substituted by section 6 of the Development Finance Corporation of New Zealand Amendment Act 1988) the words “the Consolidated Account or Loans Account from”, and substituting the word “public”.
1987, No 65—The Conservation Act 1987 By omitting from section 33(1) the words “into the Public Account, and shall be credited to funds or accounts from time to time determined by the Minister of Finance”, and substituting the words “in accordance with the Pub­ lic Finance Act 1989 into the Crown Bank Account, the Department’s De­ partmental Bank Account, or a Trust Bank Account”.
By omitting from section 33(3)— (a) The words “the Public Account to the credit of an account within the Trust Account”, and substituting the words “a Trust Bank Account established under section 67 of the Public Finance Act 1989 to be”; and The words “without further appro­ priation than this subsection”.
(b) 1987, No 93—The New Zealand Horticulture Export Authority Act 1987 By omitting from section 54(2)(b) the words “section 86 of the Public Finance Act 1977”, and substituting the words “the Public Finance Act 1989”.
172 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 1 Act Amended Amendment 1987, No 114—The Post Ofﬁce Bank Act 1987 1987, No 176—The Maori Language Act 1987 1988, No 4—The Protection of Personal and Property Rights Act 1988 By omitting from section 3(2) the words “the Consolidated Account”, and substi­ tuting the words “public money”.
By omitting from section 4(1) the words “section 80 of the Public Finance Act 1977, the authority to raise a loan con­ ferred by section 71 of that Act”, and substituting the words “section 53 of the Public Finance Act 1989, the authority to raise a loan conferred by section 47 of that Act”.
By omitting from clause 14 of Schedule 2 the words “in the same manner in which money in the Public Account may be invested pursuant to section 50 of the Public Finance Act 1977”, and substituting the words “pursuant to section 25 of the Public Finance Act 1989”.

the By omitting from section 65(5) words “the Consolidated Account from”, and substituting the word “public”.

By omitting from section 78(5) the words “the Consolidated Account from”, and substituting the word “public”.
1988, No 107—The Finance Act 1988 By omitting from section 7 the words “the Consolidated Account”, and substituting the words “public money”.

173 Schedule 1 Public Finance Act 1989 Reprinted as at 1 November 2007 Act Amended Amendment 1988, No 159—The Foreign Affairs Act 1988 By omitting from section 11 the words “the Consolidated Account”, and substituting the Affairs and words “public money”.
1988, No 172—The Bank of New Zealand Act 1988 By omitting from section 8(b) the words “section 86 of the Public Finance Act 1977”, and substituting the words “the Public Finance Act 1989”.

Accident Compensation Act 1982 (1982 No 181): impliedly omitted, by section 179(1) Accident Rehabilitation and Compensation Insurance Act 1992 (1992 No 13).

Coal Mines Act 1979 (1979 No 21): omitted, as from 1 April 1993, by section 62(1) Health and Safety in Employment Act 1992 (1992 No 96).
Dog Control and Hydatids Act 1982 (1982 No 42): omitted, as from 1 July 1996, by section 80 Dog Control Act 1996 (1996 No 13).

Defence Act 1971 (1971 No 52): impliedly, by section 105(2) Defence Act 1990 (1990 No 28).

Earthquake and War Damage Act 1944 (1944 No 15): omitted, as from 1 January 1994, by section 39(1) Earthquake Commission Act 1993 (1993 No 84).

Education Act 1964: omitted, as from 1 February 1990, by section 19(2)(d) Education Amendment Act 1989 (1989 No 156).
Electoral Act 1956: omitted, as from 1 July 1994, by section 284 Electoral Act 1993 (1993 No 87).

Electric Linemen Act 1959 (1959 No 46): omitted, as from 1 April 1993, by section 173(2) Electricity Act 1992 (1992 No 122).

Electrical Registration Act 1979 (1979 No 139): omitted, as from 1 April 1993, by section 173(2) Electricity Act (1992 No 122).

Electricity Act 1968 (1968 No 63): omitted, as from 1 April 1993, by section 173(2) Electricity Act 1992 (1992 No 122).
Fisheries Act 1983 (1983 No 14): omitted so much as relates to section 107B(5), as from 1 November 1990, by section 2(2) Fisheries Amendment Act 1990 (1990 No 29).

Gas Act 1982 (1982 No 27): omitted, as from 1 April 1993, by section 58(2) Gas Act 1992 (1992 No 124).

Geothermal Energy Act 1953 (1953 No 102): omitted, as from 1 October 1991, by section 362 Resource Management Act 1991 (1991 No 69).
Goods and Services Tax Act 1985: omitted so much as relates to section 2(1), as from 1 July 1989, by section 2(3) Goods and Services Tax Amendment Act (No 2) 1989 (1989 No 152), and so much as relates to section 19(2)(a), as from 1 April 1991, by section 3(2)(c) Goods and Services Tax Amendment Act 1991 (1991 No 11).
174 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 1 Goods and Services Tax Act 1985: omitted so much as relates to section 5, as from 10 April 1995, by section 3(3) Goods and Services Tax Amendment Act 1995 (1995 No 22).

Goods and Services Tax Act 1985: omitted so much as relates to section 10, as from 10 April 1995, by section 5(4) Goods and Services Tax Amendment Act 1995 (1995 No 22).
Government Life Insurance Corporation Act 1987 (1987 No 70): impliedly omitted by section 31(1) Tower Corporation Act 1990 (1990 No 2 (P)).

Government Superannuation Fund Act 1956 (1956 No 47): omitted, as from 1 October 1995, so much as relates to section 16 by section 31 Government Superannuation Fund Amendment Act 1995 (1995 No 28).

Human Rights Commission Act 1977 (1977 No 49): omitted, as from 1 February 1994, by section 146 Human Rights Act 1993 (1993 No 82).
Industrial Training Levies Act 1978: omitted, as from 1 July 1994, by section 21(1) In­ dustry Training Act 1992 (1992 No 55).

Iron and Steel Industry Act 1959 (1959 No 100): omitted, as from 1 October 1991, by section 362 Resource Management Act 1991 (1991 No 69).

Local Government Act 1974: this item was repealed, as from 1 July 2003, by section 266 Local Government Act 2002 (2002 No 84).

See sections 273 to 314 of that Act as to the savings and transitional provisions.
Labour Relations Act 1987 (1987 No 77): omitted, as from 15 May 1991, by section 174 Employment Contracts Act 1991 (1991 No 22).

Maori Affairs Act 1953 (1953 No 94): omitted, as from 1 July 1993, by section 362(2) Te Ture Whenua Maori/Maori Land Act 1993 (1993 No 4).

Marine Pollution Act 1974: omitted, as from 20 August 1998, by section 481(1) Mari­ time Transport Act 1994 (1994 No 104).

See clause 2(e) Maritime Transport Act Commencement Order 1998 (SR 1998/206).
Meat Export Control Act 1921­22: omitted, as from 17 December 1997, by section 83 Meat Board Act 1997 (1997 No 105).

Mining Act 1971 (1971 No 25): impliedly omitted by section 62(1) Health and Safety in Employment Act 1992 (1992 No 69).

Ministry of Energy Act 1977 (1977 No 33): omitted, as from 2 January 1990, by section 5 Ministry of Energy (Abolition) Act 1989 (1989 No 140).
National Art Gallery, Museum, and War Memorial Act 1972 (1972 No 11): omitted, as from 1 July 1992, by section 37 Museum of New Zealand Te Papa Tongarewa Act 1992 (1992 No 19).

National Provident Fund Act 1950 (1950 No 55): impliedly omitted by section 81(1) Na­ tional Provident Fund Restructuring Act 1990 (1990 No 126).

New Zealand Export­Import Corporation Act 1974 (1974 No 2): omitted, as from 10 April 1992, by section 8 New Zealand Export­Import Corporation Dissolution Act 1992 (1992 No 23).
New Zealand Film Commission Act 1978 (1978 No 61): omitted, as from 21 December 1992, by section 43(1)(c) Public Finance Amendment Act 1992 (1992 No 142).

New Zealand Planning Act 1982 (1982 No 17): omitted, as from 1 December 1991 by section 9 New Zealand Planning Council Dissolution Act 1991 (1991 No 97).

175 Schedule 1 Public Finance Act 1989 Reprinted as at 1 November 2007 New Zealand 1990 Commission Act 1988 (1988 No 168): impliedly omitted, as from 31 December 1991, by section 16 of that Act.
New Zealand Symphony Orchestra Act 1988 (1988 No 163): omitted, as from 1 July 1994, by section 3(2)(a) New Zealand Symphony Orchestra Amendment Act 1994 (1994 No 50) New Zealand Walkways Act 1975 (1975 No 31): 32(1)(a) New Zealand Walkways Act 1990 (1990 No 32) impliedly omitted, by section Noise Control Act 1982 (1982 No 140): omitted, as from 1 October 1991, by section 362 Resource Management Act 1991 (1991 No 69).
Petroleum Act 1937 (1937 No 27): omitted by section 62(1) Health and Safety in Em­ ployment Act 1992 (1992 No 96).

Pharmacy Act 1970 (1970 No 143): omitted, as from 18 September 2004, by section 175(4) Health Practitioners Competence Assurance Act 2003 (2003 No 48).

See sections 178 to 227 of that Act as to the transitional provisions.

Pork Industry Board Act 1982: omitted, as from 17 December 1997, by section 47 Pork Industry Board Act 1997 (1997 No 106).
Primary Products Marketing Act 1953 (1953 No 10): omitted, as from 29 September 1993, by section 6(b) Primary Products Marketing Amendment Act 1993 (1993 No 152).

Quarries and Tunnels Act 1982 (1982 No 18): omitted, as from 1 April 1993, by section 62(1) Health and Safety in Employment Act 1992 (1992 No 96).
Queen Elizabeth the Second Arts Council of New Zealand Act 1974 (1974 No 69): omitted, as from 21 December 1992, so much as related to section 25, by section 43(1)(a) Public Finance Amendment Act 1992 (1992 No 142).

The entire reference to that Act was repealed by section 34(1) Arts Council of New Zealand Toi Aotearoa Act 1994 (1994 No 19).

Reserve Bank of New Zealand Act 1964 (1964 No 134): impliedly omitted by section 186(1) Reserve Bank of New Zealand Act 1989 (1989 No 157).
Rural Banking and Finance Corporation Act 1974 (1974 No 3): omitted, as from 31 October 1989, by section 21(1) Rural Banking and Finance Corporation of New Zealand Act 1989 (1989 No 81), as brought into force by clause 2 Rural Banking and Finance Corporation of New Zealand Act Commencement Order 1989 (SR 1989/303).

Scientiﬁc and Industrial Research Act 1974: omitted, as from 10 April 1998, by section 48(1) Crown Research Institutes Act 1992 (1992 No 47).
See clause 2 Crown Research Institutes Act Commencement Order 1998 (SR 1998/40).

Securities Act 1978 (1978 No 103): omitted, as from 21 December 1992, so much as relates to section 31C(2) by section 43(1)(b) Public Finance Amendment Act 1992 (1992 No 142).

Southland Electric Power Supply Act 1936: omitted, as from 30 June 1994, by sec­ tion 36(2)(b) Southland Electricity Act 1993 (1993 No 147).

See clause 2 Southland Electricity Act Commencement Order 1994 (SR 1994/111).
State Insurance Act 1963: omitted, as from 28 June 1990, section 24(1) of 1990 No 36.

Superannuation Schemes Act 1976 (1976 No 3): impliedly omitted, as from 1 April 1990, by section 32(1)(a) Superannuation Schemes Act 1989 (1989 No 10).

Trustee Banks Restructuring Act: omitted, as from 21 May 1999, by section 5 Trustee Banks Restructuring Act Repeal Act 1999 (1999 No 53).
176 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 2 Valuation of Land Act 1951: omitted, as from 1 July 1998, by section 53 Ratings Valu­ ations Act 1998 (1998 No 69).

See sections 55 to 63 for the savings and transitional provisions.

Water and Soil Conservation Act 1967 (1967 No 135): omitted, as from 1 October 1991, by section 362 Resource Management Act 1991 (1991 No 69).
Wheat Research Levy Act 1974 (1975 No 5): impliedly omitted, as from 17 August 1989, by section 36(1) Wheat Industry Research Levies Act 1989 (1989 No 64).

Schedule 2 Enactments repealed Section 87 1940, No 30—The Finance Act (No 4) 1940.

(RS Vol 2, p 488.)

1956, No 63—The Local Authorities Loans Act 1956: Sec­ tions 66 and 109(2A).

(Reprinted 1974, Vol 3, p 2301.)

1964, No 134—The Reserve Bank of New Zealand Act 1964: Part 6A.

(RS Vol 16, p 455.)
(RS Vol 16, p 455.)

1977, No 65—The Public Finance Act 1977: Part 1, section 33(1)(a), (2) and (3)(a), and Parts 3 to 7 (excluding sections 109, 110, 111, and 113(2)) and Schedules 1, 2, 3, 4, and 5.

1977, No 68—The Reserve Bank of New Zealand Amendment Act 1977: Section 4 and so much of Schedule 3 as relates to section 109(2A) of the Local Authorities Loans Act 1956.

(RS Vol 16, p 514.)

1980, No 7—The Public Finance Amendment Act 1980.


1983, No 134—The Area Health Boards Act 1983: So much of the Schedule as relates to the Public Finance Act 1977.

1986, No 67—The Public Finance Amendment Act 1986.

1986, No 114—The Constitution Act 1986: So much of Schedule 1 as relates to the Public Finance Act 1977.

1986, No 124—The State­Owned Enterprises Act 1986: So much of Schedule 3 as relates to the Public Finance Act 1977.

1987, No 49—The Public Finance Amendment Act 1987.


1987, No 67—The Public Works Amendment Act (No 2) 1987: Section 15.

1987, No 200—The Finance Act 1987: Section 7.

• • • • • • • • • • • • • 177 Schedule 3 Public Finance Act 1989 Reprinted as at 1 November 2007 • 1988, No 20—The State Sector Act 1988: So much of Sched­ ule 5 as relates to the Public Finance Act 1977.
Schedule 3 Liabilities, and categories of liabilities, not included in deﬁnition of contingent liability [Repealed] Section 2(1) Schedule 3 was inserted, as from 21 December 1992, by section 41 Public Fi­ nance Amendment Act 1992 (1992 No 142).

Schedule 3 was repealed, as from 25 January 2005, by section 31 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Schedule 4 Organisations for the purposes of subpart 2 of Part 5 ss 3A, 45M, 45N Schedule 4 was inserted, as from 21 December 1992, by section 41 Public Fi­ nance Amendment Act 1992 (1992 No 142).

NOTE: A tick alongside the name of an organisation means that the section of the Crown Entities Act 2004 that appears above the tick applies to that organisation.
SOI An­ nual re­ port SSPSe­ cur­ ities Bor­ row­ ing Guar­ antees Deriva­ tives Sur­ plus 139 150 153 161 162 163 164 165 Name or de­ scrip­ tion of organ­ isation Agri­ cultural and Mar­ ket­ 178 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 4 SOI An­ nual re­ port SSPSe­ cur­ ities Bor­ row­ ing Guar­ antees Deriva­ tives Sur­ plus 139 150 153 161 162 163 164 165 Name or de­ scrip­ tion of organ­ isation ing Re­ search and Devel­ opment Trust Asia New Zealand Foun­ dation New Zealand Fish and Game Coun­ cil and Fish and Game Coun­ cils Lead­ ership Devel­ opment Centre Trust 179 Schedule 4 Public Finance Act 1989 Reprinted as at 1 November 2007 SOI An­ nual re­ port SSPSe­ cur­ ities Bor­ row­ ing Guar­ antees Deriva­ tives Sur­ plus 139 150 153 161 162 163 164 165 Name or de­ scrip­ tion of organ­ isation New Zealand Lottery Grants Board New Zealand Game Bird Habitat Trust Board New Zealand Gov­ ern­ ment Prop­ erty Cor­ por­ ation Ngai Tahu An­ cillary Claims Trust 180 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 4 SOI An­ nual re­ port SSPSe­ cur­ ities Bor­ row­ ing Guar­ antees Deriva­ tives Sur­ plus 139 150 153 161 162 163 164 165 Name or de­ scrip­ tion of organ­ isation Paciﬁc Co­op­ eration Foun­ dation Paciﬁc Island Busi­ ness Devel­ opment Trust Re­ search and Edu­ cation Ad­ vanced Net­ work New Zealand Limited 181 Schedule 4 Public Finance Act 1989 Reprinted as at 1 November 2007 SOI An­ nual re­ port SSPSe­ cur­ ities Bor­ row­ ing Guar­ antees Deriva­
 tives Sur­ plus 139 150 153 161 162 163 164 165 Name or de­ scrip­ tion of organ­ isation Re­ serves Boards as de­ ﬁned in section 2 of the Re­ serves Act 1977 Road Safety Trust Sen­ tencing Coun­ cil Trans­ feree com­ panies under the New Zealand Rail­ ways Cor­ 182 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 4 SOI An­ nual re­ port SSPSe­ cur­ ities Bor­ row­ ing Guar­ antees Deriva­ tives Sur­ plus 139 150 153 161 162 163 164 165 Name or de­ scrip­ tion of organ­ isation por­ ation Re­ struc­ turing Act 1990 in which the Crown holds 50% or more of the issued ordin­ ary shares Accident Compensation Corporation: inserted, as from 1 July 1999, by section 415(1) Accident Insurance Act 1998 (1998 No 114).
Accident Rehabilitation and Compensation Insurance Corporation: omitted, as from 1 July 1999, by section 415(1) Accident Insurance Act 1998 (1998 No 114).

Accounting Standards Review Board: inserted, as from 1 July 1994, by section 48(3) Fi­ nancial Reporting Act 1993 (1993 No 106).

Agricultural Pests Destruction Council: omitted, as from 1 October 1993, by section 168(1) Biosecurity Act 1993 (1993 No 95).
Alcohol Advisory Council of New Zealand: this item was substituted, for an item re­ lating to the Alcoholic Liquor Advisory Council, as from 20 August 2000, by section 25(1) Alcohol Advisory Council Amendment Act 2000 (2000 No 25).

Area Health Boards: omitted, as from 1 July 1993, by section 27(4) Health Reforms (Transitional Provisions) Act 1993 (1993 No 23).
183 Schedule 4 Public Finance Act 1989 Reprinted as at 1 November 2007 Arts Council of New Zealand Toi Aotearoa: inserted, as from 1 July 1994, by section 34(1) Arts Council of New Zealand Toi Aotearoa Act 1994 (1994 No 19).

Asia 2000 Foundation of New Zealand: inserted, as from 24 November 1994, by clause 2 Public Finance (Crown Entities) Order 1994 (SR 1994/235).
Auckland International Airport Limited: omitted, as from 14 August 1998, by clause 2 Public Finance (Removal of Crown Entity Status ­ Auckland International Airport Limited) Order 1998 (SR 1998/226).

The blood transfusion trust established under section 92J of the Health Act 1956: in­ serted, as from 1 July 1993, by section 27(3) Health Amendment Act 1993 (1993 No 24).
The blood transfusion trust established under section 92J of the Health Act 1956: omit­ ted, as from 4 July 1998, by section 11 Health Amendment Act 1998 (1998 No 86).

Business Development Boards: this item was omitted, as from 22 October 2003, by section 4(2) Business Development Boards Act Repeal Act 2003 (2003 No 64).

Career Development and Transition Education Service: inserted, as from 25 June 1993 by section 21(3) Education Amendment Act 1993 (1993 No 51).
Careers Service: inserted, as from 25 June 1993, by section 21(3) Education Amend­ ment Act 1993 (1993 No 51).

Career Services: substituted for “Careers Service”, as from 1 August 2000, by clause 4(1) Education (Change of Name of Education Entities) Order 2000 (SR 2000/117).

Casino Control Authority: repealed, as from 1 July 2004, by section 374 Gambling Act 2003 (2003 No 51).

See sections 376 and 377 of that Act for the savings and transitional provisions.
See clause 2(3) Gambling Act Commencement Order 2003 (SR 2003/384).

Children’s Commissioner: inserted, as from 26 November 2003, by section 37 Chil­ dren’s Commissioner Act 2003 (2003 No 121).

Commissioner for Children: omitted, as from 26 November 2003, by section 37 Chil­ dren’s Commissioner Act 2003 (2003 No 121).

Crown health enterprises: inserted, as from 10 May 1993, by section 27(1) Health Re­ forms (Transitional Provisions) Act 1993 (1993 No 23).
Crown health enterprises: omitted, as from 30 June 1998, by section 5(4) Health and Disability Services Amendment Act 1998 (1998 No 74).

District health boards: inserted, as from 1 January 2001, by section 111(1) New Zealand Public Health and Disability Act 2000 (2000 No 91).

Early Childhood Development Board: this item was substituted for “Early Childhood Development Unit”, as from 1 August 2000, by clause 4(1) Education (Change of Name of Education Entities) Order 2000 (SR 2000/117).
Early Childhood Development Board: this item was omitted, as from 6 April 2004, by section 7(c) Education (Disestablishment of Early Childhood Development Board) Amendment Act 2004 (2004 No 14).

Earthquake Commission: this item was inserted, as from 1 January 1994 by section 8(1) Earthquake Commission Act 1993 (1993 No 84).

Earthquake and War Damage Commission: this item was omitted, as from 1 January 1994, by section 8(1) Earthquake Commission Act 1993 (1993 No 84).
Electoral Commission: inserted, as from 1 July 1994, by section 283 Electoral Act 1993 (1993 No 87).

184 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 4 Electricity Commission: this item was inserted, as from 18 October 2004, by section 24(2) Electricity Amendment Act 2004 (2004 No 80).

Energy Efﬁciency and Conservation Authority: this item was inserted, as from 1 July 2000, by section 42 Energy Efﬁciency and Conservation Act 2000 (2000 No 14).
inserted, as from 8 August 1996, by Environmental Risk Management Authority: section 146(a) Hazardous Substances and New Organisms Act 1996 (1996 No 30).

See clause 2 Hazardous Substances and New Organisms Act Commencement Order 1996 (SR 1996/217).

Families Commission: this item was inserted, as from 1 July 2004, by section 62 Fam­ ilies Commission Act 2003 (2003 No 128).
Fish and Game Councils: inserted, as from 25 November 1994, by section 4 Foreshore and Seabed Endowment Revesting Amendment Act 1994 (1994 No 113).

Government Superannuation Board: omitted, as from 1 October 1995, by section 31 Government Superannuation Fund Amendment Act 1995 (1995 No 28).

Government Superannuation Fund Authority: this item was inserted, as from 2 October 2001, by section 4(3) Government Superannuation Fund Amendment Act 2001 (2001 No 47).
See sections 2(3) and 2(4) of that Act for transitional provisions relating to the period between 21 August 2001 (the date the Government Superannuation Fund Amendment Act 2001 was assented) and 2 October 2001.

See section 28 Government Superannuation Fund Amendment Act 2001, which allows the minister to enter into transitional agreements.

See Part 2 of that Act as to various miscellaneous provisions.
The Guardians of New Zealand Superannuation: October 2001, by section 75 New Zealand Superannuation Act 2001 (2001 No 84).

this item was inserted, as from 12 Health and Disability Commissioner: inserted, as from 21 October 1994, by section 78 Health and Disability Commissioner Act 1994 (1994 No 88).

Health Funding Authority: inserted, as from 1 July 1998, by section 5(4) Health and Disability Services Amendment Act 1998 (1998 No 74).
Health Funding Authority: omitted, as from 1 January 2001, by section 111(1) New Zealand Public Health and Disability Act 2000 (2000 No 91).

Hillary Commission for Sport, Fitness, and Leisure: omitted, as from 1 January 2003, by section 62 Sport and Recreation New Zealand Act 2002 (2002 No 38).

See clause 2 Sport and Recreation New Zealand Act Commencement Order 2002 (SR 2002/376).
Hospital and health services: inserted, as from 1 July 1998, by section 5(4) Health and Disability Services Amendment Act 1998 (1998 No 74).

Hospital and health services: omitted, as from 1 January 2001, by section 111(1) New Zealand Public Health and Disability Act 2000 (2000 No 91).

Housing New Zealand Corporation: substituted for “Housing Corporation of New Zealand”, as from 1 July 2001, by section 24(1) Housing Corporation Amendment Act 2001 (2001 No 37).
Industry New Zealand: this item was inserted, as from 6 October 2000, by section 49 Industry New Zealand Act 2000 (2000 No 27).

Industry New Zealand: this item was omitted, as from 1 July 2003, by section 84 New Zealand Trade and Enterprise Act 2003 (2003 No 27).

Institutions established under Part 14 of the Education Act 1989: inserted, as from 25 June 1993, by section 14(3) Education Amendment Act 1993 (1993 No 51).
185 Schedule 4 Public Finance Act 1989 Reprinted as at 1 November 2007 International Year of the Family Trust: inserted, as from 1 July 1994, by section 51(2) Public Finance Amendment Act 1994 (1994 No 18).

Land Transport New Zealand: this item was inserted, as from 1 December 2004, by section 19(1) Land Transport Management Amendment Act 2004 (2004 No 97).

See sections 20 to 22 of that Act as to the savings and transitional provisions.
Land Transport Safety Authority of New Zealand: inserted, as from 20 August 1993, by section 35(1) Land Transport Act 1993 (1993 No 88).

Land Transport Safety Authority of New Zealand: this item was omitted, as from 1 December 2004, by section 19(1) Land Transport Management Amendment Act 2004 (2004 No 97).

See sections 20 to 22 of that Act as to the savings and transitional provi­ sions.
Legal Services Agency: this item was substituted for the item “Legal Services Board”, as from 1 February 2001, by section 128 Legal Services Act 2000 (2000 No 42).

Learning Media Limited: inserted, as from 25 June 1993, section 28 Education Amend­ ment Act 1993 (1993 No 51).

Management Development Centre Trust: clause 2 Public Finance (Crown Entities) Order 1994 (SR 1994/235).
inserted, as from 24 November 1994, by Maritime Safety Authority of New Zealand: inserted, as from 20 August 1993, section 20(1) Maritime Transport Act 1993 (1993 No 89).

Mental Health Commission: inserted, as from 1 April 1998, by section 14 Mental Health Commission Act 1998 (1998 No 5).

New Zealand Antarctic Institute: Zealand Antarctic Institute Act 1996 (1996 No 38).
inserted, as from 1 July 1996, by section 18 New New Zealand Blood Service: inserted, as from 1 January 2001, by section 111(1) New Zealand Public Health and Disability Act 2000 (2000 No 91).

New Zealand Fish and Game Council: inserted, as from 25 November 1994, by section 4 Foreshore and Seabed Endowment Revesting Amendment Act 1994 (1994 No 113).

New Zealand Game Bird Habitat Trust Board: inserted, as from 17 May 1993 by section 6 Wildlife Amendment Act 1993 (1993 No 39).
New Zealand Milk Authority: omitted, as from 1 July 1994, by section 51(1) Public Finance Amendment Act 1994 (1994 No 18).

New Zealand Sports Drug Agency: inserted, as from 5 January 1995, by section 39(a) New Zealand Sports Drug Agency Act 1994 (1994 No 75).

See clause 2 New Zealand Sports Drug Agency Act Commencement Order 1994 (SR 1994/285).

New Zealand Symphony Orchestra Limited: this item was omitted, as from 6 April 2004, by section 36 New Zealand Symphony Orchestra Act 2004 (2004 No 20).
New Zealand Symphony Orchestra and any subsidiary of the New Zealand Symphony Orchestra: this item was inserted, as from 6 April 2004, by section 36 New Zealand Symphony Orchestra Act 2004 (2004 No 20).

this item was substituted for the item “Teacher New Zealand Teachers Council: Registration Board”, as from 1 February 2002, by section 83 Education Standards Act 2001 (2001 No 88).

See clause 2(1)(g) Education Standards Act Commencement Order 2001 (SR 2001/384).
New Zealand Trade and Enterprise: this item was inserted, as from 1 July 2003, by section 84 New Zealand Trade and Enterprise Act 2003 (2003 No 27).

186 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 4 New Zealand Trade Development Board: this item was omitted, as from 1 July 2003, by section 84 New Zealand Trade and Enterprise Act 2003 (2003 No 27).
New Zealand Venture Investment Fund Limited: this item was inserted, as from 20 March 2003, by clause 3 Public Finance (New Zealand Venture Investment Fund Limited) Order 2003 (SR 2003/10).

Ngai Tahu Ancillary Claims Trust: inserted, as from 1 October 1998, by section 350 Ngai Tahu Claims Settlement Act 1998 (1998 No 97).

See clause 2 Ngai Tahu Claims Settlement Act Commencement Order 1998 (SR 1998/295).
Noxious Plants Council: omitted, as from 1 October 1993, by section 168(1) Biosecurity Act 1993 (1993 No 95).

Ofﬁce of Film and Literature Classiﬁcation: inserted, as from 1 October 1994, by section 150(1) Films, Videos, and Publications Classiﬁcation Act 1993 (1993 No 94).

Pharmaceutical Management Agency: 111(1) New Zealand Public Health and Disability Act 2000 (2000 No 91).
inserted, as from 1 January 2001, by section Power Company Limited: inserted, as from 30 June 1994, by section 36(1) Southland Electricity Act 1993 (1993 No 147).

See clause 2 Southland Electricity Commencement Order 1994 (SR 1994/111).

Power Company Limited: omitted, as from 20 March 1998, by section 35 South­ land Electricity Act 1993 (1993 No 147).

See clause 2 Southland Electricity Act Commencement Order 1998 (SR 1998/47).
Public Health Commission: inserted, as from 10 May 1993, by section 27(1) Health Reforms (Transitional Provisions) Act 1993 (1993 No 23).

Public Health Commission: omitted, as from 22 January 1996, by section 3(3) Health and Disability Services Amendment Act 1995 (1995 No 84).

See clause 2 Health and Disability Services Amendment Act Commencement Order 1995 (SR 1995/303).

Public Trust: this item was inserted, as from 1 March 2002, by section 170(1) Public Trust Act 2001 (2001 No 100).
See clause 2 Public Trust Act Commencement Order 2002 (SR 2002/11).

Queen Elizabeth the Second Arts Council of New Zealand: omitted, as from 1 July 1994, by section 34(1) Arts Council of New Zealand Toi Aotearoa Act 1994 (1994 No 19).

Race Relations Conciliator: this item was omitted, as from 1 January 2002, by section 71 Human Rights Amendment Act 2001 (2001 No 96).

Radio New Zealand Limited: inserted, as from 1 December 1995, by section 20 Radio New Zealand Act 1995 (1995 No 52).
See clause 2 Radio New Zealand Act Commencement Order 1995 (SR 1995/226).

Regional health authorities: inserted, as from 10 May 1993, by section 27(1) Health Reforms (Transitional Provisions) Act 1993 (1993 No 23).

Regional health authorities: omitted, as from 30 June 1998, by section 5(4) Health and Disability Services Amendment Act 1998 (1998 No 74).

Residual Health Management Unit: 27(3) Health Reforms (Transitional Provisions) Act 1993 (1993 No 23).
inserted, as from 1 July 1993, by section 1993 Suffrage Centennial Year Trust: omitted, as from 1 July 1994, by section 51(1) Public Finance Amendment Act 1994 (1994 No 18).

The Retirement Commissioner: inserted, as from 1 April 1994, by section 21 Retirement Income Act 1993 (1993 No 148).

187 Schedule 4 Public Finance Act 1989 Reprinted as at 1 November 2007 Residual Health Management Unit: 27(3) Health Reforms (Transitional Provisions) Act 1993 (1993 No 23).
inserted, as from 1 July 1993, by section Schedule 4 Sentencing Council: inserted, on 1 November 2007, by section 12 of the Sentencing Council Act 2007 (2007 No 25).

Skill New Zealand this item was substituted for “Education and Training Support Agency”, as from 1 August 2000, by clause 4(1) Education (Change of Name of Education Entities) Order 2000 (SR 2000/117).

Skill New Zealand: this item was omitted, as from 1 January 2003, by section 59 Edu­ cation (Tertiary Reform) Amendment Act 2002 (2002 No 50).
Social Workers Registration Board: this item was inserted, as from 1 November 2003, by section 149 Social Workers Registration Act 2003 (2003 No 17).

See clause 3(1) Social Workers Registration Act Commencement Order 2003 (SR 2003/250).

Special Education Service : this item was substituted by “Specialist Education Services Board”, as from 1 August 2000, by clause 4(1) Education (Change of Name of Educa­ tion Entities) Order 2000 (SR 2000/117).
Specialist Education Services Board: this item was substituted for “Special Education Service”, as from 1 August 2000, by clause 4(1) Education (Change of Name of Educa­ tion Entities) Order 2000 (SR 2000/117).

This item was omitted, as from the effective date (being 28 February 2002), by section 94 Education Standards Act 2001 (2001 No 88).

Sport and Recreation New Zealand: inserted, as from 1 January 2003, by section 62 Sport and Recreation New Zealand Act 2002 (2002 No 38).
See clause 2 Sport and Recreation New Zealand Act Commencement Order 2002 (SR 2002/376).

Takeovers Panel: This item was inserted, as from 1 July 1994, by section 50(1) Takeovers Act 1993 (1993 No 107).

Takeovers Panel: a new section 48 of the Takeovers Act 1993 (as inserted by sec­ tion 12(1) Takeovers Amendment Act 2001 (2001 No 30) proposed to insert the item “Takeovers Panel” as from 1 July 2001.

This amendment was apparently in error be­ cause the item had already been inserted, see above.
this item was substituted by the item “New Zealand Teacher Registration Board: Teachers Council”, as from 1 February 2002, by section 83 Education Standards Act 2001 (2001 No 88).

See clause 2(1)(g) Education Standards Act Commencement Order 2001 (SR 2001/384).

Te Reo Whakapuaki Irirangi: this item was inserted, as from 1 July 1993, by section 24 Broadcasting Amendment Act 1993 (1993 No 69).
Television New Zealand Limited: this item was inserted, as from 28 February 2003, by section 30 Television New Zealand Act 2003 (2003 No 1).

Tertiary Education Commission: this item was inserted, as from 1 January 2003, by section 59 Education (Tertiary Reform) Amendment Act 2002 (2002 No 50).

Tertiary Research Board: this item was omitted, as from 1 January 2003, by section 59 Education (Tertiary Reform) Amendment Act 2002 (2002 No 50).

Transfund New Zealand: Zealand Amendment Act 1995 (1995 No 42).
inserted, as from 1 July 1996, by section 29 Transit New Transfund New Zealand: this item was omitted, as from 1 December 2004, by section 19(1) Land Transport Management Amendment Act 2004 (2004 No 97).

See sections 20 to 22 of that Act as to the savings and transitional provisions.
188 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 5 Trustees of the National Library: repealed, as from 6 May 2003, by section 47 National Library of New Zealand (Te Puna Matauranga o Aotearoa) Act 2003 (2003 No 19).

Valuation New Zealand Limited: inserted, as from 1 July 1998, by section 14(3) Valu­ ation Department (Restructuring) Act 1998 (1998 No 70).
Wellington International Airport: omitted, as from 11 December 1998, by clause 2 Pub­ lic Finance (Removal of Crown Entity Status ­ Wellington International Airport Limited) Order 1998 (SR 1998/433).

Schedule 4 was substituted, as from 25 January 2005, by section 30 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transi­ tional provisions.

Maritime New Zealand: 11(3) Maritime Transport Amendment Act 2004 (2004 No 98).
this item was inserted, as from 1 July 2005, by section Maritime Safety Authority of New Zealand: this item was omitted, as from 1 July 2005, by section 11(3) Maritime Transport Amendment Act 2004 (2004 No 98).

Research and Education Advanced Network New Zealand Limited: this item was in­ serted, as from 11 May 2006, by clause 3 Public Finance (Research and Education Ad­ vanced Network New Zealand Limited) Order 2006 (SR 2006/96).
Schedule 5 Crown entities required to include statements of service performance in their annual ﬁnancial statements [Repealed] Sections 3A, 41(2)(e), (f) Accident Compensation Corporation: inserted, as from 1 July 1999, by section 415(1) Accident Insurance Act 1998 (1998 No 114).

Accident Rehabilitation and Compensation Insurance Corporation: omitted, as from 1 July 1999, by section 415(1) Accident Insurance Act 1998 (1998 No 114).
Alcohol Advisory Council of New Zealand: this item was substituted, for an item relating to the “Alcoholic Liquor Advisory Council”, as from 20 August 2000, by section 25(1) Alcohol Advisory Council Amendment Act 2000 (2000 No 25).

Arts Council of New Zealand Toi Aotearoa: inserted, as from 1 July 1994, by section 34(1) Arts Council of New Zealand Toi Aotearoa Act 1994 (1994 No 19).
Asia 2000 Foundation of New Zealand: inserted, as from 24 November 1994, by clause 2 Public Finance (Crown Entities) Order 1994 (SR 1994/235).

Boards of Trustees constituted under Part 9 of the Education Act 1989: this item was repealed, as from 25 October 2001, by section 79 Education Standards Act 2001 (2001 No 88) The blood transfusion trust established under section 92J of the Health Act 1956: inserted, as from 1 July 1993, by section 27(3) Health Amendment Act 1993 (1993 No 24).
189 Schedule 5 Public Finance Act 1989 Reprinted as at 1 November 2007 The blood transfusion trust established under section 92J of the Health Act 1956: omitted, as from 4 July 1998, by section 11 Health Amendment Act 1998 (1998 No 86).

Business Development Boards: this item was omitted, as from 22 October 2003, by section 4(2) Business Development Boards Act Repeal Act 2003 (2003 No 64).

Careers Service: inserted, as from 25 June 1993 by section 21(3) Education Amendment Act 1993 (1993 No 51).
Career Services: this item was substituted for “Careers Service”, as from 1 August 2000, by clause 4(1) Education (Change of Name of Education Entities) Order 2000 (SR 2000/117).

Career Development and Transition Education Service: omitted, as from 25 June 1993 by section 21(3) Education Amendment Act 1993 (1993 No 51).

Children’s Commissioner: 37 Children’s Commissioner Act 2003 (2003 No 121).
inserted, as from 26 November 2003, by section Commissioner for Children: omitted, as from 26 November 2003, by section 37 Children’s Commissioner Act 2003 (2003 No 121).

District health boards: inserted, as from 1 January 2001, by section 111(1) New Zealand Public Health and Disability Act 2000 (2000 No 91).
this item was substituted for “Early Early Childhood Development Board: Childhood Development Unit”, as from 1 August 2000, by clause 4(1) Educa­ tion (Change of Name of Education Entities) Order 2000 (SR 2000/117).

Early Childhood Development Board: this item was omitted, as from 6 April 2004, by section 7(c) Education (Disestablishment of Early Childhood Devel­ opment Board) Amendment Act 2004 (2004 No 14).
Electoral Commission: this item was inserted, as from 1 July 1994, by section 283 Electoral Act 1993 (1993 No 87).

Electricity Commission: this item was inserted, as from 18 October 2004, by section 24(2) Electricity Amendment Act 2004 (2004 No 80).

Energy Efﬁciency and Conservation Authority: this item was inserted, as from 1 July 2000, by section 42 Energy Efﬁciency and Conservation Act 2000 (2000 No 14).
Environmental Risk Management Authority: inserted, as from 8 August 1996, by section 146(b) Hazardous Substances and New Organisms Act 1996 (1996 No 30).

See clause 2 Hazardous Substances and New Organisms Act Commencement Order 1996 (SR 1996/217).

Families Commission: this item was inserted, as from 1 July 2004, by section 62 Families Commission Act 2003 (2003 No 128).
Fish and Game Councils: this item was inserted, as from 25 November 1994, by section 4 Foreshore and Seabed Endowment Revesting Amendment Act 1994 (1994 No 113).

Government Superannuation Fund Authority: this item was inserted, as from 2 October 2001, by section 4(3) Government Superannuation Fund Amend­ ment Act 2001 (2001 No 47).
See sections 2(3) and 2(4) of that Act for tran­ sitional provisions relating to the period between 21 August 2001 (the date the Government Superannuation Fund Amendment Act 2001 was assented) and 2 October 2001.

See section 28 Government Superannuation Fund Amendment 190 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 5 Act 2001, which allows the minister to enter into transitional agreements.

See Part 2 of that Act as to various miscellaneous provisions.
The Guardians of New Zealand Superannuation: this item was inserted, as from 12 October 2001, by section 75 New Zealand Superannuation Act 2001 (2001 No 84).

Health and Disability Commissioner: this item was inserted, as from 21 October 1994, by section 78 Health and Disability Commissioner Act 1994 (1994 No 88).

Health Funding Authority: this item was inserted, as from 1 July 1998, by sec­ tion 5(4) Health and Disability Services Amendment Act 1998 (1998 No 74).
Health Funding Authority: omitted, as from 1 January 2001, by section 111(1) New Zealand Public Health and Disability Act 2000 (2000 No 91).

this item was substituted for “Housing Housing New Zealand Corporation: Corporation of New Zealand”, as from 1 July 2001, by section 24(1) Hous­ ing Corporation Amendment Act 2001 (2001 No 37).

Hillary Commission for Sport, Fitness, and Leisure: this item was omitted, as from 1 January 2003, by section 62 Sport and Recreation New Zealand Act 2002 (2002 No 38).
See clause 2 Sport and Recreation New Zealand Act Commencement Order 2002 (SR 2002/376).

Industry New Zealand: section 49 Industry New Zealand Act 2000 (2000 No 27).

this item was inserted, as from 6 October 2000, by Industry New Zealand: this item was omitted, as from 1 July 2003, by section 84 New Zealand Trade and Enterprise Act 2003 (2003 No 27).

Land Transport New Zealand: this item was inserted, as from 1 December 2004, by section 19(1) Land Transport Management Amendment Act 2004 (2004 No 97).
See sections 20 to 22 of that Act as to the savings and transitional provi­ sions.

Land Transport Safety Authority of New Zealand: this item was inserted, as from 20 August 1993, by section 35(1) Land Transport Act 1993 (1993 No 88).

Land Transport Safety Authority of New Zealand: this item was omitted, as from 1 December 2004, by section 19(1) Land Transport Management Amend­ ment Act 2004 (2004 No 97).

See sections 20 to 22 of that Act as to the savings and transitional provisions.
Legal Services Agency: this item was substituted for the item “Legal Services Board”, as from 1 February 2001, by section 128 Legal Services Act 2000 (2000 No 42).

Management Development Centre Trust: this item was inserted, as from 24 November 1994, by clause 2 Public Finance (Crown Entities) Order 1994 (SR 1994/235).

Maritime New Zealand: inserted, as from 1 July 2005, section 11(3) Maritime Transport Amendment Act 2004 (2004 No 98).
Maritime Safety Authority of New Zealand: this item was inserted, as from 20 August 1993, by section 20(1) Maritime Transport Act 1993 (1993 No 89).

Maritime Safety Authority of New Zealand: omitted, as from 1 July 2005, sec­ tion 11(3) Maritime Transport Amendment Act 2004 (2004 No 98).

191 Schedule 5 Public Finance Act 1989 Reprinted as at 1 November 2007 Mental Health Commission: this item was inserted, as from 1 April 1998, by section 14 Mental Health Commission Act 1998 (1998 No 5).
New Zealand Antarctic Institute: this item was inserted, as from 1 July 1996, by section 18 New Zealand Antarctic Institute Act 1996 (1996 No 38).

New Zealand Blood Service: this item was inserted, as from 1 January 2001, by section 111(1) New Zealand Public Health and Disability Act 2000 (2000 No 91).

New Zealand Fish and Game Council: this item was inserted, as from 25 November 1994, by section 4 Foreshore and Seabed Endowment Revesting Amendment Act 1994 (1994 No 113).
New Zealand Game Bird Habitat Trust Board: this item was inserted, as from 17 May 1993, by section 6 Wildlife Amendment Act 1993 (1993 No 39).

New Zealand Teachers Council: this item was substituted for the item “Teacher Registration Board”, as from 1 February 2002, by section 83 Education Stan­ dards Act 2001 (2001 No 88).

See clause 2(1)(g) Education Standards Act Commencement Order 2001 (SR 2001/384).
New Zealand Sports Drug Agency: this item was inserted, as from 5 January 1995, by section 39(b) New Zealand Sports Drug Agency Act 1994 (1994 No 75).

See clause 2 New Zealand Sports Drug Agency Act Commencement Order 1994 (SR 1994/285).

New Zealand Symphony Orchestra Limited: this item was omitted, as from 6 April 2004, by section 36 New Zealand Symphony Orchestra Act 2004 (2004 No 20).
New Zealand Symphony Orchestra and any subsidiary of the New Zealand Symphony Orchestra: this item was inserted, as from 6 April 2004, by sec­ tion 36 New Zealand Symphony Orchestra Act 2004 (2004 No 20).

New Zealand Trade and Enterprise: this item was inserted, as from 1 July 2003, by section 84 New Zealand Trade and Enterprise Act 2003 (2003 No 27).

New Zealand Trade Development Board: this item was omitted, as from 1 July 2003, by section 84 New Zealand Trade and Enterprise Act 2003 (2003 No 27).
New Zealand Venture Investment Fund Limited: this item was inserted, as from 20 March 2003, by clause 3 Public Finance (New Zealand Venture Investment Fund Limited) Order 2003 (SR 2003/10).

Ofﬁce of Film and Literature Classiﬁcation: this item was inserted, as from 1 October 1994, by section 150(1) Films, Videos, and Publications Classiﬁcation Act 1993 (1993 No 94).
Pharmaceutical Management Agency: this item was inserted, as from 1 January 2001, by section 111(1) New Zealand Public Health and Disability Act 2000 (2000 No 91).

Public Health Commission: this item was inserted, as from 10 May 1993, by section 27(2) Health Reform (Transitional Provisions) Act 1993 (1993 No 23).

Public Health Commission: this item was omitted, as from 22 January 1996, by section 3(3) Health and Disability Services Amendment Act 1995 (1995 No 84).
See clause 2 Health and Disability Services Amendment Act Commencement Order 1995 (SR 1995/303).

192 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 5 this item was inserted, as from 1 March 2002, by section Public Trust: 170(1) Public Trust Act 2001 (2001 No 100).

See clause 2 Public Trust Act Commencement Order 2002 (SR 2002/11).
Queen Elizabeth the Second Arts Council of New Zealand: this item was omit­ ted, as from 1 July 1994, by section 34(1) Arts Council of New Zealand Toi Aotearoa Act 1994 (1994 No 19).

Race Relations Conciliator: this item was omitted, as from 1 January 2002, by section 71 Human Rights Amendment Act 2001 (2001 No 96).

Radio New Zealand Limited: this item was inserted, as from 1 December 1995, by section 20 Radio New Zealand Act 1995 (1995 No 52).
See clause 2 Radio New Zealand Act Commencement Order 1995 (SR 1995/226).

Regional health authorities: this item was inserted, as from 10 May 1993, by section 27(2) Health Reform (Transitional Provisions) Act 1993 (1993 No 23).

this item was omitted, as from 1 July 1998, by Regional health authorities: section 5(4) Health and Disability Services Amendment Act 1998 (1998 No 74).
The Retirement Commissioner: this item was inserted, as from 1 April 1994, by section 21 Retirement Income Act 1993 (1993 No 148).

Skill New Zealand: this item was substituted for “Education and Training Sup­ port Agency”, as from 1 August 2000, by clause 4(1) Education (Change of Name of Education Entities) Order 2000 (SR 2000/117).

Skill New Zealand: this item was omitted, as from 1 January 2003, by section 59 Education (Tertiary Reform) Amendment Act 2002 (2002 No 50).
Social Workers Registration Board: this item was inserted, as from 1 November 2003, by section 149 Social Workers Registration Act 2003 (2003 No 17).

See clause 3(1) Social Workers Registration Act Commencement Order 2003 (SR 2003/250).

Special Education Service: this item was substituted by “Specialist Education Services Board”, as from 1 August 2000, by clause 4(1) Education (Change of Name of Education Entities) Order 2000 (SR 2000/117).
this item was substituted for “Special Specialist Education Services Board: Education Service”, as from 1 August 2000, by clause 4(1) Education (Change of Name of Education Entities) Order 2000 (SR 2000/117).

This item was omit­ ted, as from the effective date (being 28 February 2002), by section 94 Educa­ tion Standards Act 2001 (2001 No 88).

Sport and Recreation New Zealand: this item was inserted, as from 1 January 2003, by section 62 Sport and Recreation New Zealand Act 2002 (2002 No 38).
See clause 2 Sport and Recreation New Zealand Act Commencement Order 2002 (SR 2002/376).

this item was substituted by the item “New Teacher Registration Board: Zealand Teachers Council”, as from 1 February 2002, by section 83 Education Standards Act 2001 (2001 No 88).

See clause 2(1)(g) Education Standards Act Commencement Order 2001 (SR 2001/384).

Te Reo Whakapuaki Irirangi: this item was inserted, as from 1 July 1993, by section 24 Broadcasting Amendment Act 1993 (1993 No 69).
Tertiary Education Commission: this item was inserted, as from 1 January 2003, by section 59 Education (Tertiary Reform) Amendment Act 2002 (2002 No 50).

193 Schedule 6 Public Finance Act 1989 Reprinted as at 1 November 2007 Tertiary Research Board: this item was omitted, as from 1 January 2003, by section 59 Education (Tertiary Reform) Amendment Act 2002 (2002 No 50).

Transfund New Zealand: this item was inserted, as from 1 July 1996, by section 29 Transit New Zealand Amendment Act 1995 (1995 No 42).
Transfund New Zealand: this item was omitted, as from 1 December 2004, by section 19(1) Land Transport Management Amendment Act 2004 (2004 No 97).

See sections 20 to 22 of that Act as to the savings and transitional provisions.

Trustees of the National Library: this item was repealed, as from 6 May 2003, by section 47 National Library of New Zealand (Te Puna Matauranga o Aotearoa) Act 2003 (2003 No 19).
Schedule 5 was inserted, as from 21 December 1992, by section 41 Public Fi­ nance Amendment Act 1992 (1992 No 142).

Schedules 5 to 7 were repealed, as from 25 January 2005, by section 31 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
Schedule 6 Crown entities required to prepare statements of intent [Repealed] Sections 3A, 41C, 41D, 41I Schedule 6 was inserted, as from 21 December 1992, by section 41 Public Fi­ nance Amendment Act 1992 (1992 No 142).

Accident Compensation Corporation: inserted, as from 1 July 1999, by section 415(1) Accident Insurance Act 1998 (1998 No 114).
Accident Rehabilitation and Compensation Insurance Corporation: this item was omitted, as from 1 July 1999, by section 415(1) Accident Insurance Act 1998 (1998 No 114).

Auckland International Airport Limited: this item was omitted, as from 14 Au­ gust 1998, by clause 2 Public Finance (Removal of Crown Entity Status ­ Auck­ land International Airport Limited) Order 1998 (SR 1998/226).
The blood transfusion trust established under section 92J of the Health Act 1956: this item was inserted as from 1 July 1993 by section 27(3) Health Amendment Act 1993 (1993 No 24).

The blood transfusion trust established under section 92J of the Health Act 1956: this item was omitted, as from 4 July 1998, by section 11 Health Amend­ ment Act 1998 (1998 No 86).

Broadcasting Commission: this item was inserted by section 24(3) of 1993 No 69.
Broadcasting Standards Authority: this item was inserted, as from 1 July 1996, by section 22 Broadcasting Amendment Act 1996 (1996 No 53).

Career Development and Transition Education Service: this item was omitted, as from 25 June 1993 by section 21(3) Education Amendment Act 1993 (1993 No 51).

194 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 6 this item was inserted, as from 25 June 1993 by section Careers Service: 21(3) Education Amendment Act 1993 (1993 No 51).
Career Services: this item was substituted for “Careers Service”, as from 1 August 2000, by clause 4(1) Education (Change of Name of Education Entities) Order 2000 (SR 2000/117).

Crown health enterprises: this item was inserted, as from 10 May 1993, by section 27(1) Health Reform (Transitional Provisions) Act 1993 (1993 No 23).

Crown health enterprises: this item was omitted, as from 30 June 1998, by section 5(4) Health and Disability Services Amendment Act 1998 (1998 No 74).
District health boards: this item was inserted, as from 1 January 2001, by section 111(1) New Zealand Public Health and Disability Act 2000 (2000 No 91).

this item was substituted for “Early Early Childhood Development Board: Childhood Development Unit”, as from 1 August 2000, by clause 4(1) Educa­ tion (Change of Name of Education Entities) Order 2000 (SR 2000/117).
Early Childhood Development Board: this item was omitted, as from 6 April 2004, by section 7(c) Education (Disestablishment of Early Childhood Devel­ opment Board) Amendment Act 2004 (2004 No 14).

Earthquake and War Damage Commission: this item was omitted, as from 1 January 1994, by section 8(1) Earthquake Commission Act 1993 (1993 No 84).

Earthquake Commission: this item was inserted, as from 1 January 1994 by section 8(1) Earthquake Commission Act 1993 (1993 No 84).
Electricity Commission: this item was inserted, as from 18 October 2004, by section 24(2) Electricity Amendment Act 2004 (2004 No 80).

Energy Efﬁciency and Conservation Authority: this item was inserted, as from 1 July 2000, by section 42 Energy Efﬁciency and Conservation Act 2000 (2000 No 14).

Environmental Risk Management Authority: this item was inserted, as from 8 August 1996, by section 146(c) Hazardous Substances and New Organisms Act 1996 (1996 No 30).
See clause 2 Hazardous Substances and New Organisms Act Commencement Order 1996 (SR 1996/217).

Families Commission: this item was inserted, as from 1 July 2004, by section 62 Families Commission Act 2003 (2003 No 128).

Government Superannuation Fund Authority: this item was inserted, as from 2 October 2001, by section 4(3) Government Superannuation Fund Amend­ ment Act 2001 (2001 No 47).
See sections 2(3) and 2(4) of that Act for tran­ sitional provisions relating to the period between 21 August 2001 (the date the Government Superannuation Fund Amendment Act 2001 was assented) and 2 October 2001.

See section 28 Government Superannuation Fund Amendment Act 2001, which allows the minister to enter into transitional agreements.

See Part 2 of that Act as to various miscellaneous provisions.
The Guardians of New Zealand Superannuation: this item was inserted, as from 12 October 2001, by section 75 New Zealand Superannuation Act 2001 (2001 No 84).

Health Funding Authority: this item was inserted, as from 1 July 1998, by sec­ tion 5(4) Health and Disability Services Amendment Act 1998 (1998 No 74).
195 Schedule 6 Public Finance Act 1989 Reprinted as at 1 November 2007 Health Funding Authority: this item was omitted, as from 1 January 2001, by section 111(1) New Zealand Public Health and Disability Act 2000 (2000 No 91).

Hillary Commission for Sport, Fitness, and Leisure: this item was omitted, as from 1 January 2003, by section 62 Sport and Recreation New Zealand Act 2002 (2002 No 38).

See clause 2 Sport and Recreation New Zealand Act Commencement Order 2002 (SR 2002/376).
Hospital and health services: this item was inserted, as from 1 July 1998, by section 5(4) Health and Disability Services Amendment Act 1998 (1998 No 74).

Hospital and health services: this item was omitted, as from 1 January 2001, by section 111(1) New Zealand Public Health and Disability Act 2000 (2000 No 91).

Housing New Zealand Corporation: substituted for “Housing Corporation of New Zealand”, as from 1 July 2001, by section 24(1) Housing Corporation Amendment Act 2001 (2001 No 37).
Industry New Zealand: section 49 Industry New Zealand Act 2000 (2000 No 27).

this item was inserted, as from 6 October 2000, by Industry New Zealand: this item was omitted, as from 1 July 2003, by section 84 New Zealand Trade and Enterprise Act 2003 (2003 No 27).

Land Transport New Zealand: this item was inserted, as from 1 December 2004, by section 19(1) Land Transport Management Amendment Act 2004 (2004 No 97).

See sections 20 to 22 of that Act as to the savings and transitional provi­ sions.
Land Transport Safety Authority of New Zealand: this item was inserted, as from 20 August 1993, by section 35(1) Land Transport Act 1993 (1993 No 88).

Land Transport Safety Authority of New Zealand: this item was omitted, as from 1 December 2004, by section 19(1) Land Transport Management Amend­ ment Act 2004 (2004 No 97).

See sections 20 to 22 of that Act as to the savings and transitional provisions.
this item was inserted, as from 25 June 1993, by Learning Media Limited: section 28 Education Amendment Act 1993 (1993 No 51).

Legal Services Agency: this item was substituted for the item “Legal Services Board”, as from 1 February 2001, by section 128 Legal Services Act 2000 (2000 No 42).

Maritime Safety Authority of New Zealand: this item was inserted, as from 20 August 1993, section 20(1) Maritime Transport Act 1993 (1993 No 89).
New Zealand Antarctic Institute: this item was inserted, as from 1 July 1996, by section 18 New Zealand Antarctic Institute Act 1996 (1996 No 38).

New Zealand Blood Service: this item was inserted, as from 1 January 2001, by section 111(1) New Zealand Public Health and Disability Act 2000 (2000 No 91).

New Zealand Symphony Orchestra Limited: this item was omitted, as from 6 April 2004, by section 36 New Zealand Symphony Orchestra Act 2004 (2004 No 20).
196 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 6 New Zealand Symphony Orchestra and any subsidiary of the New Zealand Symphony Orchestra: this item was inserted, as from 6 April 2004, by sec­ tion 36 New Zealand Symphony Orchestra Act 2004 (2004 No 20).

New Zealand Teachers Council: this item was substituted for the item “Teacher Registration Board”, as from 1 February 2002, by section 83 Education Stan­ dards Act 2001 (2001 No 88).
See clause 2(1)(g) Education Standards Act Commencement Order 2001 (SR 2001/384).

New Zealand Trade and Enterprise: this item was inserted, as from 1 July 2003, by section 84 New Zealand Trade and Enterprise Act 2003 (2003 No 27).

New Zealand Trade Development Board: this item was omitted, as from 1 July 2003, by section 84 New Zealand Trade and Enterprise Act 2003 (2003 No 27).
New Zealand Venture Investment Fund Limited: this item was inserted, as from 20 March 2003, by clause 3 Public Finance (New Zealand Venture Investment Fund Limited) Order 2003 (SR 2003/10).

Pharmaceutical Management Agency: this item was inserted, as from 1 January 2001, by section 111(1) New Zealand Public Health and Disability Act 2000 (2000 No 91).

Power Company Limited: this item was inserted, as from 30 June 1994, by section 36(1) Southland Electricity Act 1993 (1993 No 147).
See clause 2 Southland Electricity Commencement Order 1994 (SR 1994/111).

Power Company Limited: this item was omitted, as from 20 March 1998, by section 35 Southland Electricity Act 1993 (1993 No 147).

See clause 2 Southland Electricity Act Commencement Order 1998 (SR 1998/47).

Public Health Commission: this item was inserted, as from 10 May 1993, by section 27(1) Health Reform (Transitional Provisions) Act 1993 (1993 No 23).
Public Health Commission: this item was omitted, as from 22 January 1996, by section 3(3) Health and Disability Services Amendment Act 1995 (1995 No 84).

See clause 2 Health and Disability Services Amendment Act Commencement Order 1995 (SR 1995/303).

Public Trust: this item was inserted, as from 1 March 2002, by section 170(1) Public Trust Act 2001 (2001 No 100).

See clause 2 Public Trust Act Commencement Order 2002 (SR 2002/11).
Radio New Zealand Limited: this item was inserted, as from 1 December 1995, by section 20 Radio New Zealand Act 1995 (1995 No 52).

See clause 2 Radio New Zealand Act Commencement Order 1995 (SR 1995/226).

Regional health authorities: this item was inserted, as from 10 May 1993, by section 27(1) Health Reform (Transitional Provisions) Act 1993 (1993 No 23).
Regional health authorities: this item was omitted, as from 30 June 1998, by section 5(4) Health and Disability Services Amendment Act 1998 (1998 No 74).

Residual Health Management Unit: this item was inserted, as from 1 July 1993, by section 27(3) Health Reform (Transitional Provisions) Act 1993 (1993 No 23).
Skill New Zealand: this item was substituted for “Education and Training Sup­ port Agency”, as from 1 August 2000, by clause 4(1) Education (Change of Name of Education Entities) Order 2000 (SR 2000/117).

197 Schedule 6 Public Finance Act 1989 Reprinted as at 1 November 2007 Skill New Zealand: this item was omitted, as from 1 January 2003, by section 59 Education (Tertiary Reform) Amendment Act 2002 (2002 No 50).
Social Workers Registration Board: this item was inserted, as from 1 November 2003, by section 149 Social Workers Registration Act 2003 (2003 No 17).

See clause 3(1) Social Workers Registration Act Commencement Order 2003 (SR 2003/250).

Special Education Service: this item was substituted by “Specialist Education Services Board”, as from 1 August 2000, by clause 4(1) Education (Change of Name of Education Entities) Order 2000 (SR 2000/117).
this item was substituted for “Special Specialist Education Services Board: Education Service”, as from 1 August 2000, by clause 4(1) Education (Change of Name of Education Entities) Order 2000 (SR 2000/117).

This item was omit­ ted, as from the effective date (being 28 February 2002), by section 94 Educa­ tion Standards Act 2001 (2001 No 88).

Sport and Recreation New Zealand: this item was inserted, as from 1 January 2003, by section 62 Sport and Recreation New Zealand Act 2002 (2002 No 38).
See clause 2 Sport and Recreation New Zealand Act Commencement Order 2002 (SR 2002/376).

Takeovers Panel: 50(1) Takeovers Act 1993 (1993 No 107).
this item was inserted, as from 1 July 1994, by section Takeovers Panel: a new section 48 of the Takeovers Act 1993 (as inserted by section 12(1) Takeovers Amendment Act 2001 (2001 No 30) proposed to insert the item “Takevoers Panel” as from 1 July 2001. this item was substituted for the item “New Teacher Registration Board: Zealand Teachers Council”, as from 1 February 2002, by section 83 Education Standards Act 2001 (2001 No 88).
See clause 2(1)(g) Education Standards Act Commencement Order 2001 (SR 2001/384).

Te Reo Whakapuaki Irirangi: this item was inserted, as from 1 July 1993, by section 24 Broadcasting Amendment Act 1993 (1993 No 69).

Television New Zealand Limited: this item was inserted, as from 28 February 2003, by section 30 Television New Zealand Act 2003 (2003 No 1).

Tertiary Education Commission: this item was inserted, as from 1 January 2003, by section 59 Education (Tertiary Reform) Amendment Act 2002 (2002 No 50).
Tertiary Research Board: this item was omitted, as from 1 January 2003, by section 59 Education (Tertiary Reform) Amendment Act 2002 (2002 No 50).

Transfund New Zealand: this item was inserted, as from 1 July 1996, by section 29 Transit New Zealand Amendment Act 1995 (1995 No 42).

Transfund New Zealand: this item was omitted, as from 1 December 2004, by section 19(1) Land Transport Management Amendment Act 2004 (2004 No 97).

See sections 20 to 22 of that Act as to the savings and transitional provisions.
Valuation New Zealand Limited: this item was inserted, as from 1 July 1998, by section 14(3) Valuation Department (Restructuring) Act 1998 (1998 No 70).

Wellington International Airport: this item was omitted, as from 11 December 1998, by clause 2 Public Finance (Removal of Crown Entity Status ­ Wellington International Airport Limited) Order 1998 (SR 1998/433).
198 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 7 Schedules 5 to 7 were repealed, as from 25 January 2005, by section 31 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.

Schedule 7 Crown entities subject to section 16 [Repealed] Section 16 Schedule 7 was inserted, as from 21 December 1992, by section 41 Public Fi­ nance Amendment Act 1992 (1992 No 142).
Agricultural Pests Destruction Council: this item was omitted, as from 1 Octo­ ber 1993, by section 168(1) Biosecurity Act 1993 (1993 No 95).

Area Health Boards: this item was omitted, as from 1 July 1993, by section 27(4) Health Reforms (Transitional Provisions) Act 1993 (1993 No 23).

Business Development Boards: this item was omitted, as from 22 October 2003, by section 4(2) Business Development Boards Act Repeal Act 2003 (2003 No 64).
Career Development and Transition Education Service: this item was omitted, as from 25 June 1993 by section 21(3) Education Amendment Act 1993 (1993 No 51).

this item was inserted, as from 25 June 1993 by section Careers Service: 21(3) Education Amendment Act 1993 (1993 No 51).

Career Services: this item was substituted for “Careers Service”, as from 1 August 2000, by clause 4(1) Education (Change of Name of Education Entities) Order 2000 (SR 2000/117).
Children’s Commissioner: this item was inserted, as from 26 November 2003, by section 37 Children’s Commissioner Act 2003 (2003 No 121).

Commissioner for Children: this item was omitted, as from 26 November 2003, by section 37 Children’s Commissioner Act 2003 (2003 No 121).

Crown health enterprises: this item was inserted, as from 10 May 1993, by section 27(1) Health Reforms (Transitional Provisions) Act 1993 (1993 No 23).
Crown health enterprises: this item was omitted, as from 30 June 1998, by section 5(4) Health and Disability Services Amendment Act 1998 (1998 No 74).

District health boards: this item was inserted, as from 1 January 2001, by section 111(1) New Zealand Public Health and Disability Act 2000 (2000 No 91).
this item was substituted for “Early Early Childhood Development Board: Childhood Development Unit”, as from 1 August 2000, by clause 4(1) Educa­ tion (Change of Name of Education Entities) Order 2000 (SR 2000/117).

Early Childhood Development Board: this item was omitted, as from 6 April 2004, by section 7(c) Education (Disestablishment of Early Childhood Devel­ opment Board) Amendment Act 2004 (2004 No 14).
Earthquake and War Damage Commission: this item was omitted, as from 1 January 1994, by section 8(2) Earthquake Commission Act 1993 (1993 No 84).

199 Schedule 7 Public Finance Act 1989 Reprinted as at 1 November 2007 Electoral Commission: this item was inserted, as from 1 July 1994, by section 283 Electoral Act 1993 (1993 No 87).

Energy Efﬁciency and Conservation Authority: this item was inserted, as from 1 July 2000, by section 42 Energy Efﬁciency and Conservation Act 2000 (2000 No 14).
Families Commission: this item was inserted, as from 1 July 2004, by section 62 Families Commission Act 2003 (2003 No 128).

Health and Disability Commissioner: this item was inserted, as from 21 October 1994, by section 78 Health and Disability Commissioner Act 1994 (1994 No 88).

Health Funding Authority: this item was inserted, as from 1 July 1998, by sec­ tion 5(4) Health and Disability Services Amendment Act 1998 (1998 No 74).
Health Funding Authority: this item was omitted, as from 1 January 2001, by section 111(1) New Zealand Public Health and Disability Act 2000 (2000 No 91).

Hospital and health services: this item was inserted, as from 1 July 1998, by section 5(4) Health and Disability Services Amendment Act 1998 (1998 No 74).

Hospital and health services: this item was omitted, as from 1 January 2001, by section 111(1) New Zealand Public Health and Disability Act 2000 (2000 No 91).
Housing New Zealand Corporation: substituted for “Housing Corporation of New Zealand”, as from 1 July 2001, by section 24(1) Housing Corporation Amendment Act 2001 (2001 No 37).

Industry New Zealand: section 49 Industry New Zealand Act 2000 (2000 No 27).

this item was inserted, as from 6 October 2000, by Industry New Zealand: this item was omitted, as from 1 July 2003, by section 84 New Zealand Trade and Enterprise Act 2003 (2003 No 27).
this item was inserted, as from 25 June 1993, by Learning Media Limited: section 28 Education Amendment Act 1993 (1993 No 51).

Legal Services Agency: this item was substituted for the item “Legal Services Board”, as from 1 February 2001, by section 128 Legal Services Act 2000 (2000 No 42).

New Zealand Antarctic Institute: this item was inserted, as from 1 July 1996, by section 18 New Zealand Antarctic Institute Act 1996 (1996 No 38).
New Zealand Blood Service: this item was inserted, as from 1 January 2001, by section 111(1) New Zealand Public Health and Disability Act 2000 (2000 No 91).

New Zealand Milk Authority: this item was omitted, as from 1 July 1994, by section 52 Public Finance Amendment Act 1994 (1994 No 18).

New Zealand Symphony Orchestra and any subsidiary of the New Zealand Symphony Orchestra: this item was inserted, as from 6 April 2004, by sec­ tion 36 New Zealand Symphony Orchestra Act 2004 (2004 No 20).
New Zealand Teachers Council: this item was substituted for the item “Teacher Registration Board”, as from 1 February 2002, by section 83 Education Stan­ 200 Reprinted as at 1 November 2007 Public Finance Act 1989 Schedule 7 dards Act 2001 (2001 No 88).

See clause 2(1)(g) Education Standards Act Commencement Order 2001 (SR 2001/384).

New Zealand Trade and Enterprise: this item was inserted, as from 1 July 2003, by section 84 New Zealand Trade and Enterprise Act 2003 (2003 No 27).
New Zealand Trade Development Board: this item was omitted, as from 1 July 2003, by section 84 New Zealand Trade and Enterprise Act 2003 (2003 No 27).

Noxious Plants Council: this item was omitted, as from 1 October 1993, by section 168(1) Biosecurity Act 1993 (1993 No 95).

Ofﬁce of Film and Literature Classiﬁcation: this item was inserted, as from 1 October 1994, by section 150(1) Films, Videos, and Publications Classiﬁcation Act 1993 (1993 No 94).
Pharmaceutical Management Agency: this item was inserted, as from 1 January 2001, by section 111(1) New Zealand Public Health and Disability Act 2000 (2000 No 91).

Public Health Commission: this item was inserted, as from 10 May 1993, by section 27(1) Health Reforms (Transitional Provisions) Act 1993 (1993 No 23).

Public Health Commission: this item was omitted, as from 22 January 1996, by section 3(3) Health and Disability Services Amendment Act 1995 (1995 No 84).
See clause 2 Health and Disability Services Amendment Act Commencement Order 1995 (SR 1995/303).

Public Health Commission: this item was omitted, as from 22 January 1996, by section 3(3) Health and Disability Services Amendment Act 1995 (1995 No 84).

See clause 2 Health and Disability Services Amendment Act Commencement Order 1995 (SR 1995/303).

Public Trust: this item was inserted, as from 1 March 2002, by section 170(1) Public Trust Act 2001 (2001 No 100).
See clause 2 Public Trust Act Commencement Order 2002 (SR 2002/11).

Race Relations Conciliator: this item was omitted, as from 1 January 2002, by section 71 Human Rights Amendment Act 2001 (2001 No 96).

Regional health authorities: this item was inserted, as from 10 May 1993, by section 27(1) Health Reforms (Transitional Provisions) Act 1993 (1993 No 23).
Regional health authorities: this item was omitted, as from 30 June 1998, by section 5(4) Health and Disability Services Amendment Act 1998 (1998 No 74).

Residual Health Management Unit: this item was inserted, as from 1 July 1993, by section 27(3) Health Reforms (Transitional Provisions) Act 1993 (1993 No 23).

Retirement Commissioner: this item was inserted, as from 1 April 1994, by section 21 Retirement Income Act 1993 (1993 No 148).
Skill New Zealand: this item was substituted for “Education and Training Sup­ port Agency”, as from 1 August 2000, by clause 4(1) Education (Change of Name of Education Entities) Order 2000 (SR 2000/117).

Skill New Zealand: this item was omitted, as from 1 January 2003, by section 59 Education (Tertiary Reform) Amendment Act 2002 (2002 No 50).
201 Schedule 7 Public Finance Act 1989 Reprinted as at 1 November 2007 Special Education Service: this item was substituted by “Specialist Education Services Board”, as from 1 August 2000, by clause 4(1) Education (Change of Name of Education Entities) Order 2000 (SR 2000/117).

this item was substituted for “Special Specialist Education Services Board: Education Service”, as from 1 August 2000, by clause 4(1) Education (Change of Name of Education Entities) Order 2000 (SR 2000/117).
This item was omit­ ted, as from the effective date (being 28 February 2002), by section 94 Educa­ tion Standards Act 2001 (2001 No 88).

this item was substituted for the item “New Teacher Registration Board: Zealand Teachers Council”, as from 1 February 2002, by section 83 Education Standards Act 2001 (2001 No 88).

See clause 2(1)(g) Education Standards Act Commencement Order 2001 (SR 2001/384).
Tertiary Education Commission: this item was inserted, as from 1 January 2003, by section 59 Education (Tertiary Reform) Amendment Act 2002 (2002 No 50).

Tertiary Research Board: this item was omitted, as from 1 January 2003, by section 59 Education (Tertiary Reform) Amendment Act 2002 (2002 No 50).

Trustees of the National Library: this item was repealed, as from 6 May 2003, by section 47 National Library of New Zealand (Te Puna Matauranga o Aotearoa) Act 2003 (2003 No 19).
Valuation New Zealand Limited: this item was inserted, as from 1 July 1998, by section 14(3) Valuation Department (Restructuring) Act 1998 (1998 No 70).

Schedules 5 to 7 were repealed, as from 25 January 2005, by section 31 Public Finance Amendment Act 2004 (2004 No 113).

See sections 32 to 36 of that Act as to the transitional provisions.
202 Reprinted as at 1 November 2007 Public Finance Act 1989 Notes Contents 1 2 3 General About this eprint List of amendments incorporated in this eprint (most recent ﬁrst) Notes 1 2 3 General This is an eprint of the Public Finance Act 1989.

It incorporates all the amendments to the Public Finance Act 1989 as at 1 November 2007.

The list of amendments at the end of these notes speciﬁes all the amendments incorporated into this eprint since 3 September 2007.
Relevant provisions of any amending enactments that contain transitional, savings, or application provisions are also included, after the Principal enactment, in chronological order.

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List of amendments incorporated in this eprint (most recent ﬁrst) Sentencing Council Act 2007 (2007 No 25): section 12 203