Document ID: chunk:federal_register_of_legislation:C2017C00269:section:6:p2
Version: federal_register_of_legislation:C2017C00269
Segment Type: section
Provision Reference: s 6 (pt 2/2)
Character Range: 16850–19131

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.

Part 1‑2—Definitions

Division 1—Guide to this Part