❓ Question regarding the legality of establishing a special purpose account for the Fiona Stanley Hospital construction and whether interest earned on such an account can be applied to it. The answer indicates that while establishing the account is permissible, applying interest earned to it is generally prohibited under the Financial Management Act 2006.
AnsweredQoN 770Legislative Council
Asked
18 September 2007
Member
Portfolio
parliamentary secretary representing the Treasurer
QuestionView source ↗
TREASURER’S SPECIAL PURPOSE ACCOUNT - INTEREST
(1) Do the current provisions of the Financial Management Act 2006 prohibit the Treasurer from establishing a Treasurer’s special purpose account styled the Fiona Stanley Hospital construction account? (2) Having established such a special purpose account, is there a further prohibition on any interest earned on the principal amount in the special purpose account being applied to that special purpose account? (3) In the past 10 years, has any money received from the investment of funds held in a Treasurer’s special purpose account been credited to the specific Treasurer’s special purpose account as a consequence of an implication in a written law rather than by an express provision; and, if so, will the Treasurer provide details? Hon SUE ELLERY
(1) Do the current provisions of the Financial Management Act 2006 prohibit the Treasurer from establishing a Treasurer’s special purpose account styled the Fiona Stanley Hospital construction account? (2) Having established such a special purpose account, is there a further prohibition on any interest earned on the principal amount in the special purpose account being applied to that special purpose account? (3) In the past 10 years, has any money received from the investment of funds held in a Treasurer’s special purpose account been credited to the specific Treasurer’s special purpose account as a consequence of an implication in a written law rather than by an express provision; and, if so, will the Treasurer provide details? Hon SUE ELLERY
AnswerView source ↗
On behalf of the parliamentary secretary representing the Treasurer, I thank the honourable member for some notice of this question. (1) No. (2) Yes. Section 38(7) of the Financial Management Act 2006 prohibits interest on the investment of public money held in a special purpose account being credited to that account unless an appropriation act or another written law provides otherwise. (3) The Department of Treasury and Finance is not aware of any such examples.
(2) Having established such a special purpose account, is there a further prohibition on any interest earned on the principal amount in the special purpose account being applied to that special purpose account? (3) In the past 10 years, has any money received from the investment of funds held in a Treasurer’s special purpose account been credited to the specific Treasurer’s special purpose account as a consequence of an implication in a written law rather than by an express provision; and, if so, will the Treasurer provide details? Hon SUE ELLERY replied: On behalf of the parliamentary secretary representing the Treasurer, I thank the honourable member for some notice of this question. (1) No. (2) Yes. Section 38(7) of the Financial Management Act 2006 prohibits interest on the investment of public money held in a special purpose account being credited to that account unless an appropriation act or another written law provides otherwise. (3) The Department of Treasury and Finance is not aware of any such examples.
(3) In the past 10 years, has any money received from the investment of funds held in a Treasurer’s special purpose account been credited to the specific Treasurer’s special purpose account as a consequence of an implication in a written law rather than by an express provision; and, if so, will the Treasurer provide details? Hon SUE ELLERY replied: On behalf of the parliamentary secretary representing the Treasurer, I thank the honourable member for some notice of this question. (1) No. (2) Yes. Section 38(7) of the Financial Management Act 2006 prohibits interest on the investment of public money held in a special purpose account being credited to that account unless an appropriation act or another written law provides otherwise. (3) The Department of Treasury and Finance is not aware of any such examples.
Hon SUE ELLERY replied: On behalf of the parliamentary secretary representing the Treasurer, I thank the honourable member for some notice of this question. (1) No. (2) Yes. Section 38(7) of the Financial Management Act 2006 prohibits interest on the investment of public money held in a special purpose account being credited to that account unless an appropriation act or another written law provides otherwise. (3) The Department of Treasury and Finance is not aware of any such examples.
On behalf of the parliamentary secretary representing the Treasurer, I thank the honourable member for some notice of this question. (1) No. (2) Yes. Section 38(7) of the Financial Management Act 2006 prohibits interest on the investment of public money held in a special purpose account being credited to that account unless an appropriation act or another written law provides otherwise. (3) The Department of Treasury and Finance is not aware of any such examples.
(1) No. (2) Yes. Section 38(7) of the Financial Management Act 2006 prohibits interest on the investment of public money held in a special purpose account being credited to that account unless an appropriation act or another written law provides otherwise. (3) The Department of Treasury and Finance is not aware of any such examples.
(2) Yes. Section 38(7) of the Financial Management Act 2006 prohibits interest on the investment of public money held in a special purpose account being credited to that account unless an appropriation act or another written law provides otherwise. (3) The Department of Treasury and Finance is not aware of any such examples.
(3) The Department of Treasury and Finance is not aware of any such examples.
(2) Having established such a special purpose account, is there a further prohibition on any interest earned on the principal amount in the special purpose account being applied to that special purpose account? (3) In the past 10 years, has any money received from the investment of funds held in a Treasurer’s special purpose account been credited to the specific Treasurer’s special purpose account as a consequence of an implication in a written law rather than by an express provision; and, if so, will the Treasurer provide details? Hon SUE ELLERY replied: On behalf of the parliamentary secretary representing the Treasurer, I thank the honourable member for some notice of this question. (1) No. (2) Yes. Section 38(7) of the Financial Management Act 2006 prohibits interest on the investment of public money held in a special purpose account being credited to that account unless an appropriation act or another written law provides otherwise. (3) The Department of Treasury and Finance is not aware of any such examples.
(3) In the past 10 years, has any money received from the investment of funds held in a Treasurer’s special purpose account been credited to the specific Treasurer’s special purpose account as a consequence of an implication in a written law rather than by an express provision; and, if so, will the Treasurer provide details? Hon SUE ELLERY replied: On behalf of the parliamentary secretary representing the Treasurer, I thank the honourable member for some notice of this question. (1) No. (2) Yes. Section 38(7) of the Financial Management Act 2006 prohibits interest on the investment of public money held in a special purpose account being credited to that account unless an appropriation act or another written law provides otherwise. (3) The Department of Treasury and Finance is not aware of any such examples.
Hon SUE ELLERY replied: On behalf of the parliamentary secretary representing the Treasurer, I thank the honourable member for some notice of this question. (1) No. (2) Yes. Section 38(7) of the Financial Management Act 2006 prohibits interest on the investment of public money held in a special purpose account being credited to that account unless an appropriation act or another written law provides otherwise. (3) The Department of Treasury and Finance is not aware of any such examples.
On behalf of the parliamentary secretary representing the Treasurer, I thank the honourable member for some notice of this question. (1) No. (2) Yes. Section 38(7) of the Financial Management Act 2006 prohibits interest on the investment of public money held in a special purpose account being credited to that account unless an appropriation act or another written law provides otherwise. (3) The Department of Treasury and Finance is not aware of any such examples.
(1) No. (2) Yes. Section 38(7) of the Financial Management Act 2006 prohibits interest on the investment of public money held in a special purpose account being credited to that account unless an appropriation act or another written law provides otherwise. (3) The Department of Treasury and Finance is not aware of any such examples.
(2) Yes. Section 38(7) of the Financial Management Act 2006 prohibits interest on the investment of public money held in a special purpose account being credited to that account unless an appropriation act or another written law provides otherwise. (3) The Department of Treasury and Finance is not aware of any such examples.
(3) The Department of Treasury and Finance is not aware of any such examples.
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