Australian Capital Territory
Financial Management (Investment and Borrowing) Guidelines 2011
Disallowable instrument DI2011–165
made under the
Financial Management Act 1996, s133 (Guideline-making power)
EXPLANATORY STATEMENT

Outline
These guidelines are issued in accordance with section 133 of the Financial Management Act 1996 (the Act).
This instrument, Financial Management (Investment and Borrowing) Guidelines 2011 prescribes the investment and borrowing requirements of both the Territory and territory authorities.
The ACT Government has chosen to establish a single agency, of nine directorates as the administrative basis of the ACT Public Service to commence on 1 July 2011.  The single agency model will report to a single Chief Executive through nine directorates, each headed by a Director-General.
As a result the Act has been amended to reflect the single agency structure by:

•	substituting all references to ‘department’ with ‘directorate’;
•	substituting all references to ‘chief executives’ of departments with ‘directors‑general’; and
•	amending Part 8 of the Act to remove the list specifying the ACT’s territory authorities to which the territory authority financial provisions of the Act apply, and instead specify this list in a Financial Management Guideline.

As the Act is being technically amended to include the above changes, this Guideline has also been technically amended.
This instrument applies from the financial year commencing 1 July 2011.

Technical Amendment
Clauses 1 and 2 are formal requirements.  They refer to the name and the commencement date.
Clauses 15 and 16 references to chief executive changed to director-general in line with the amendments to the Act.
Clause 5 revokes the Financial Management (Investment and Borrowing) Guidelines 2010, which is replaced by provisions made under this guideline.
End