Commonwealth Numbered Acts

Australian Shipping Commission Amendment Act 1983 No. 127 of 1983 - SECT 16

16. Sections 34 and 35 of the Principal Act are repealed and the following
sections are substituted: Application of moneys

''34. The moneys of the Commission shall be applied only-

   (a)  in payment or discharge of the expenses, charges, obligations and
        liabilities incurred or undertaken by the Commission in the
        performance of its functions and duties and the exercise of its
        powers;

   (b)  in payment of the remuneration and allowances payable to persons
        appointed or employed under this Act;

   (c)  in making payments to the Commonwealth as provided by this Act; and

   (d)  in making investments that the Commission is authorized to make under
        section 63E of the Audit Act 1901 (as that section applies in relation
        to the Commission by virtue of sub-section 35 (1) of this Act).
Application of Division 2 of Part XI of the Audit Act 1901

''35. (1) It is hereby declared that the Commission is a public authority to
which Division 2 of Part XI of the Audit Act 1901 applies.

''(2) The Commission shall, in each report prepared in pursuance of section
63H of the Audit Act 1901 (as that section applies in relation to the
Commission by virtue of sub-section (1))-

   (a)  include particulars of each direction given to it by the Minister
        under sub-section 16 (2D) or 18 (2) that is applicable to the
        financial year to which the report relates;

   (b)  deal specifically with the effect on the operations of the Commission
        of each such direction under sub-section 18 (2);

   (c)  specify the financial target determined by the Commission under
        sub-section 29 (1) for the financial year; and

   (d)  where the Minister has, under sub-section 29 (2), determined a
        different financial target for the financial year-specify the
        financial target determined by the Minister for the financial year and
        set out the reasons given to it by the Minister for his determination.

''(3) The Commission shall, in the financial statements prepared in respect of
each financial year in pursuance of section 63H of the Audit Act 1901 (as that
section applies in relation to the Commission by virtue of sub-section (1))
show separately the financial effect on the operations of the Commission of
each direction given to it by the Minister under sub-section 18 (2) that is
applicable to the financial year to which the financial statements relate.''.