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Senate

Financial Framework Legislation Amendment Bill (No. 1) 2011

Revised Explanatory Memorandum

This memorandum takes account of an amendment made by the The House Of Representatives to The Bill as introduced

(Circulated with the authority of the Minister for Finance and Deregulation, Senator the Hon Penny Wong)

Table of abbreviations and common terms

Abbreviation or common term Full term or description
ABARE The former Australian Bureau of Agriculture and Resource Economics
ABARES Australian Bureau of Agricultural and Resource Economics and Sciences, which encompasses the former ABARE and the Bureau of Rural Sciences
CAC Act Commonwealth Authorities and Companies Act 1997
CAC Regulations Commonwealth Authorities and Companies Regulations 1997
CEIs Chief Executive's instructions, made under section 52 of the Financial Management and Accountability Act 1997 (FMA Act)
Chief Executive Chief Executive, for a prescribed FMA Act Agency under the Financial Management and Accountability Regulations 1997 , means the person identified by the regulations as the Chief Executive of the Agency, or, for any other FMA Act Agency, means the person who is the Secretary of the Agency for the purposes of the Public Service Act 1999 or the Parliamentary Service Act 1999
Commonwealth authority Body corporate that is established by Commonwealth legislation for a public purpose, and which holds money on its own account (as defined in the CAC Act)
Commonwealth company Company registered under the Corporations Act 2001 that the Commonwealth controls (as defined in the CAC Act)
CSIRO Commonwealth Scientific and Industrial Research Organisation
CSIRO Act Science and Industry Research Act 1949
Electricity Act Renewable Energy (Electricity) Act 2000
Excise Levies Act Primary Industries (Excise) Levies Act 1999
FFLA Bill Financial Framework Legislation Amendment Bill
Finance Minister The Minister who administers the Financial Management and Accountability Act 1997
FMA Act Financial Management and Accountability Act 1997
FMA Regulations Financial Management and Accountability Regulations 1997
GBE Government Business Enterprise, which is a Commonwealth authority or Commonwealth company that is prescribed by CAC Regulations
Item An item of a Schedule of the Financial Framework Legislation Amendment Bill (No. 1) 2011
Legislative Instruments Act Legislative Instruments Act 2003
Wheat Act Wheat Export Marketing Act 2008
Wheat Special Account Wheat Exports Australia Special Account
Wine Act Wine Australia Corporation Act 1980
Wine Australia Wine Australia Corporation


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