Transitional arrangements

Moving from FMA Act and CAC Act to PGPA Act

On 1 July 2014, the PGPA Act replaced the FMA Act and the CAC Act.  

Comparison between:

The PGPA (Consequential and Transitional Provisions) Act 2014 external link established saving and transitional arrangements to ensure the smooth transition to the PGPA Act. The following sections summarise transitional arrangements for:

Non-corporate Commonwealth entities

Summary of the transitional arrangements for non-corporate Commonwealth entities [PDF document 390 KB]The following tables set out some of the key powers in the FMA Act that were temporarily saved and the permanent arrangements that replaced them on 1 July 2015:

Former FMA Act provisions temporarily saved until 30 June 2015Permanent arrangements from 1 July 2015
Allocated officials

A person who became an allocated official (in accordance with former FMA Regulation 4):

Prescribed officials

The accountable authority of a non-corporate Commonwealth entity can prescribe a person as an official for the purposes of the PGPA Act:  item 1A of the table in s9(1) of the PGPA Rule.

This enables the person to exercise powers under, and be subject to, the PGPA Act or PGPA Rule. For further information, see prescribing officials.

Drawing rights

Drawing rights were required to support the payment of relevant money (i.e. ss26 to 27 of the former FMA Act continued until 30 June 2015): s37 of Sched 2 of the PGPA (Consequential and Transitional Provisions) Act 2014 external link.

Payments of relevant money

Drawing rights are no longer required to pay relevant money. Entities need to ensure that appropriate internal controls are in place for making payments of relevant money, such as through Accountable Authority Instructions (to meet the duty on an accountable authorities to establish and maintain systems relating to risk and control imposed by section 16 of the PGPA Act).

GST

Sections 30A and 31 of the former FMA Act continued to enable entities to take account of recoverable GST, until 30 June 2015: section 40 of Sched 2 of the PGPA (Consequential and Transitional Provisions) Act 2014 external link.

GST

Section 74A of the PGPA Act, establishes a similar arrangement to the former FMA Act for non-corporate Commonwealth entities to take account of recoverable GST.

Delegation of powers in the former FMA Act that continued until 30 June 2015

Delegations of powers and functions in the former FMA Act that were saved continued until 30 June 2015:  section 7 of the PGPA (Consequential and Transitional Provisions) Rule 2014 external link.

Finance Minister’s delegations of powers on or after 1 July 2015

No powers or functions in the former FMA Act have effect from 1 July 2015.

See the Finance Minister’s delegations of powers and functions in the PGPA Act for current arrangements.

Certificate of compliance

For 2013‑14, prepared in accordance with the former FMA Act.

Certificate of compliance

For 2014-15 and beyond, PGPA framework compliance reporting provides guidance on reporting against the requirements of the PGPA Act.

Financial reporting

For 2013‑14, prepared in accordance with the former FMA Act.

Financial reporting

For 2014-15 and beyond, see the Financial reporting guidance for Commonwealth entities.

Corporate Commonwealth entities

Summary of the transitional arrangements for corporate Commonwealth entities [PDF document 318 KB]

Commonwealth companies

Summary of the transitional arrangements for Commonwealth companies [PDF document 227 KB]

For more information contact: pmra@finance.gov.au

Last updated: 07 July 2015