Document ID: chunk:federal_register_of_legislation:C2004A03717:body:0:p30
Version: federal_register_of_legislation:C2004A03717
Segment Type: other
Provision Reference: 
Character Range: 71786–74463

administration of Part VI of this Act during the year to which the report relates.
"(5) Before giving financial statements to the Minister, the Secretary shall submit them to the Auditor-General, who shall report to the Minister:
    (a) whether the statements are based on proper accounts and financial records;
    (b) whether the statements are in agreement with those accounts and financial records; and
    (c) as to such other matters arising out of the statements as the Auditor-General thinks should be reported to the Minister.
"(6) The Minister shall cause a copy of each report and its accompanying financial statements, together with the Auditor-General's report on those statements, to be laid before each House of the Parliament within 15 sitting days of that House after the day on which the Minister receives the report.".

Repeal of provisions relating to Corporation and finance
15. (1) Sections 5a, 5b, 5c, 5, 7, 8 and 14a of the Principal Act are repealed.
(2) Sections 39, 39a, 39b, 39c, 42, 42a, 42b, 42c and 42d of the Principal Act are repealed.

Schedule
16. The Schedule to the Principal Act is repealed and the Schedules set out in Schedules 1 and 2 to this Act are substituted.

Saving: contracts of sale, Corporation advances etc.
17. (1) In spite of this Act, the Principal Act, as in force immediately before the commencing day, continues to apply in relation to:
    (a) a Corporation advance, or a contract of sale entered into under the Principal Act at any time before that day;
    (b) the granting of an additional advance or additional assistance under section 20, 29aa, 29ab or 31 of the Principal Act as in force immediately before that day to a person who is a purchaser or borrower within the meaning of that Act;
    (c) any additional advance or additional assistance of the kind referred to in paragraph (b) granted under the Principal Act as in force immediately before that day; and
    (d) the performance or exercise by the Corporation of any functions or powers under the Principal Act as in force immediately before that day in connection with any such contract of sale, Corporation advance, additional advance or additional assistance;
until the contract of sale, or mortgage or other security securing the advance or assistance, vests in the Bank under section 6b of the Principal Act as amended by this Act.
(2) In this section:
    "commencing day" means the day on which section 10 of this Act commences.

Other savings provisions
18. (1) In spite of the repeal of section 17b of the Principal Act by this Act, subsections 17b (1) and (2) of that Act, as in force immediately before the commencing day, continue to apply