Explanatory Memorandum
(Circulated by authority of the Hon Mark Vaile MP, Minister for Trade)Schedule 6 - Commonwealth Authorities and Companies
Clause 47A - Compliance with government procurement requirements
209. The purpose of this clause is to empower the Finance Minister to issue directions to the directors of Commonwealth authorities and wholly-owned Commonwealth companies regarding procurement. This, in particular, assists with compliance with Australia's government procurement obligations under international agreements. Subclause (1) limits the extent of the direction making power to those Commonwealth authorities and wholly-owned Commonwealth companies specified in the regulations. The directors of the affected Commonwealth authorities and wholly-owned Commonwealth companies are obliged to ensure that their authority or company and, as far as practicable, any subsidiaries, comply with the directions. Subclause (4) clarifies that the directions may apply, adopt or incorporate some or all of the Commonwealth Procurement Guidelines, issued by the Finance Minister under the Financial Management and Accountability Regulations 1997.