65

 

 

First Session, 48th General Assembly

66 Elizabeth II, 2017

BILL 65

AN ACT TO AMEND THE FINANCIAL ADMINISTRATION ACT NO. 2

Received and Read the First Time.................................................................................................

Second Reading.................................................................................................................................

Committee..........................................................................................................................................

Third Reading.....................................................................................................................................

Royal Assent......................................................................................................................................

HONOURABLE CATHY BENNETT

Minister of Finance and President of Treasury Board

Ordered to be printed by the Honourable House of Assembly

 

 

EXPLANATORY NOTES

This Bill would amend the Financial Administration Act respecting the tabling of the Public Accounts of the province.

The Bill would

·         change the required date of tabling of Public Accounts respecting a fiscal year to before November 1 in the following fiscal year;

·         require that, in a year in which a general election is to be held in accordance with subsection 3(2) of the House of Assembly Act, Public Accounts be submitted no less than 15 days before the date fixed for the general election; and

·         require that, in addition to the tabling of Public Accounts on the required date, where a general election is to be held in accordance with the provisions of section 3 of the House of Assembly Act other than subsections 3(2) to (5), an unaudited financial report on the financial state of the province be submitted in the same manner as the Public Accounts no less than 15 days before the date fixed for the general election unless, within 3 months of the date fixed for the general election, other indicators of the financial state of the province have been made publicly available.

A BILL

AN ACT TO AMEND THE FINANCIAL ADMINISTRATION ACT NO. 2

Analysis


        1.   S.60 R&S
Tabling of Public Accounts


Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows:

RSNL1990 cF-8
as amended

        1. Section 60 of the Financial Administration Act is repealed and the following substituted:

Tabling of Public Accounts

      60. (1) The minister shall lay the Public Accounts required under section 59 before the House of Assembly or submit them in accordance with subsection (4) before November 1 in the following fiscal year.

             (2)  Notwithstanding subsection (1), in a year in which a general election is to be held in accordance with subsection 3(2) of the House of Assembly Act, the Public Accounts shall be laid before the House of Assembly or submitted in accordance with subsection (4) no less than 15 days before the date fixed for the general election.

             (3)  In addition to the requirement under subsection (1), in a year in which a general election is to be held in accordance with the provisions of section 3 of the House of Assembly Act, other than subsections 3(2) to (5), an unaudited report on the financial state of the province shall be laid before the House of Assembly or submitted in accordance with subsection (4) no less than 15 days before the date fixed for the general election unless one of the following has occurred within 3 months of the date fixed for the general election:

             (a)  the Public Accounts for the previous fiscal year have been laid before the House of Assembly;

             (b)  the Budget Speech has been delivered; or

             (c)  a report on the financial state of the province has been laid before the House of Assembly.

             (4)  Section 19.1 of the House of Assembly Act applies to the tabling of Public Accounts under this section as if that report were a report of an officer of the House of Assembly.