Summary

Amends the: Auditor-General Act 1997 to clarify that the Auditor-General may accept an appointment under the Corporations Act 2001 as an auditor of any Commonwealth controlled company; Commonwealth Authorities and Companies Act 1997 to: ensure that directors of Commonwealth authorities and wholly-owned Commonwealth companies prepare Budget estimates as directed by the Finance Minister; and ensure that directors of Commonwealth authorities and wholly-owned Commonwealth companies notify the responsible minister of decisions to undertake certain significant events; Financial Framework Legislation Amendment Act 2010 to make technical amendments; and Financial Management and Accountability Act 1997 to: enable the Finance Minister to clarify the day on which a special account determination commences; focus the operation of drawing rights on payments and remove the penalty relating to drawing rights; enable the Finance Minister, on behalf of the Commonwealth, to exercise a discretion to ‘set-off’ amounts owed to the Commonwealth with amounts payable to the Commonwealth; and provide that the Finance Minister cannot delegate certain powers or functions. Also repeals the Appropriation (Development Bank) Act 1975 and Car Dealership Financing Guarantee Appropriation Act 2009.