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Legislative Assembly for the ACT: 1996 Week 6 Hansard (23 May) . . Page.. 1636 ..

MRS CARNELL (Chief Minister and Treasurer) (10.32): Mr Speaker, I present the Financial Management and Audit (Consequential and Transitional Provisions) Bill 1996, together with the explanatory memorandum.

Title read by Clerk.

MRS CARNELL: I move:

That this Bill be agreed to in principle.

This Bill introduces transitional and consequential provisions as a result of the Financial Management Bill 1996 and the Auditor-General Bill 1996. The Bill's transitional provisions are: The continued appointment of the current Auditor-General; and the preparation, audit and tabling of financial statements concerning the 1995-96 financial year. The Bill reconciles certain funds and accounts under existing ACT law with the new bank account structure within the proposed Financial Management Act.

The Financial Management Act 1996 will automatically apply to Territory authorities. The Bill will remove the mechanism in Territory authorities' enabling legislation that previously triggered the application of the Audit Act 1989. The Bill makes consequential amendments to other ACT laws to remove references to the Audit Act 1989. It also removes references to the Consolidated Fund and Trust Fund in accordance with the Government's financial management reforms. I commend the Bill to the Assembly.

Debate (on motion by Mr Whitecross) adjourned.

MR DE DOMENICO (Minister for Urban Services and Minister for Business, Employment and Tourism) (10.34): Mr Speaker, I present the Betting (Corporatisation) (Consequential Provisions) Bill 1996, together with its explanatory memorandum.

Title read by Clerk.

MR DE DOMENICO: I move:

That this Bill be agreed to in principle.

The Betting (Corporatisation) (Consequential Provisions) Bill 1996 and the Betting (Corporatisation) (Consequential Amendments) Bill 1996 are a significant step towards achieving a dynamic, commercially viable and enterprising ACTTAB. I am pleased to be able to present these two Bills at this time, as they are another example of the

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