Summary

Amends the

to: enable the Finance Minister to make General Policy Orders which are legislative instruments and listed on the Federal Register of Legislative Instruments; align annual reporting requirements for Commonwealth authorities with the ; require all Commonwealth companies to provide annual reports to their responsible minister by specific deadlines and include information as required by Finance Minister Orders; clarify the use of credit cards, numbers and vouchers by Commonwealth authorities and introduce penalties for misuse; introduce a 'control' test to determine whether the Commonwealth controls a company; align the Act with the Corporations Act in relation to offences, penalties and terminology; require Commonwealth company subsidiaries to provide audited financial statements and audit reports to the responsible minister; and clarify compliance requirements for officers of Commonwealth companies with statutory and other duties. Also makes consequential amendments to the , , , and .