Source: https://www.finance.gov.au/resource-management/pgpa-act/6/
Timestamp: 2019-08-21 01:16:43
Document Index: 176564117

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6. Guide to this Act | Department of Finance
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6. Guide to this Act
the use and management of public resources by the Commonwealth and Commonwealth entities; and
the accountability of Commonwealth companies.
Chapter 2 - Commonwealth entities and the Commonwealth
Part 2-1 - Core provisions for Chapter 2
Part 2-1 has the core provisions for Chapter 2 (which is mainly about Commonwealth entities but does have some provisions relating to the Commonwealth specifically). It:
defines what a Commonwealth entity is (see section 10); and
defines what the 2 types of Commonwealth entities - corporate Commonwealth entities and non-corporate Commonwealth entities - are (see section 11); and
defines who the accountable authority of the entity is (see section 12); and
defines who the officials of the entity are (see section 13).
Part 2-2 - Accountable authorities and officials
Part 2-2 is about the accountable authorities and officials of Commonwealth entities. It mainly deals with the general duties that are imposed on accountable authorities and officials.
Part 2-3 - Planning, performance and accountability
Part 2-3 is about planning by, and performance and accountability of, Commonwealth entities. It requires the accountable authority of a Commonwealth entity:
to prepare a corporate plan, and budget estimates, for the entity; and
to measure and assess the performance of the entity, and prepare annual performance statements for the entity; and
to prepare annual financial statements for the entity; and
to prepare an annual report for the entity.
Part 2-4 - Use and management of public resources
Part 2-4 is about the use and management of public resources by the Commonwealth and Commonwealth entities. It deals with:
banking, borrowing, investments, indemnities, guarantees and warranties by the Commonwealth and corporate Commonwealth entities, and insurance obtained by corporate Commonwealth entities; and
waivers, set-offs and act of grace payments by the Commonwealth.
It also has special provisions that apply to Ministers or officials of non-corporate Commonwealth entities (for example in relation to making gifts and liability for loss).
Part 2-5 - Appropriations
Part 2-5 has some specific provisions relating to appropriations of the CRF. In particular, it deals with special accounts.
Part 2-6 - Cooperating with other jurisdictions
Part 2-6 is about the Commonwealth and Commonwealth entities cooperating with the States and Territories. It allows the rules to prescribe situations where the accountable authority of a Commonwealth entity is required to share information with the States and Territories. It also prohibits the Commonwealth from preventing State or Territory Auditors-General from conducting audits in certain situations.
Part 2-7 - Companies, subsidiaries and new corporate Commonwealth entities
Part 2-7 has provisions relating to the Commonwealth’s involvement in companies, the responsibility of corporate Commonwealth entities for their subsidiaries, and the creation of new corporate Commonwealth entities.
Chapter 3 - Commonwealth companies
Part 3-1 - General
Part 3-1 has the core provisions for Chapter 3 (which is about Commonwealth companies). It:
defines what a Commonwealth company is (see subsection 89(1)); and
defines what a wholly-owned Commonwealth company is (see section 90).
It also has some requirements that apply to the directors of wholly-owned Commonwealth companies.
Part 3-2 - Planning and accountability
Part 3-2 is about planning by, and the accountability of, Commonwealth companies. It requires the directors of a Commonwealth company:
to prepare a corporate plan and, in the case of a wholly-owned Commonwealth company, budget estimates for the company; and
to prepare an annual report for the company.
Chapter 4 - Rules, delegations and independent review
Part 4-1 - The rules
Part 4-1 is about the rules. It provides the general power to make the rules and provides additional matters in relation to which rules can be made.
Part 4-2 - Delegations
Part 4-2 is about delegations. It sets out when the Finance Minister, the Treasurer, the Finance Secretary and the accountable authority of a non-corporate Commonwealth entity may delegate a power, function or duty under this Act or the rules.
Part 4-3 - Independent review
Part 4-3 requires the Finance Minister, in consultation with the Joint Committee of Public Accounts and Audit, to conduct an independent review of the operation of this Act and the rules.
3. This Act binds the Crown
4. This Act extends to things outside Australia
5. Objects of this Act