to authorise the Crown to incur expenses and capital expenditure during the financial year ending with 30 June 2006 in advance of appropriation by way of an Appropriation Act; and

(b)

to enable the net asset holdings of departments and Offices of Parliament to exceed the amounts confirmed in the first Appropriation Act for the 2005/06 year.

5 Interpretation

In this Act, unless the context otherwise requires,—

2005/06 year means the financial year ending with 30 June 2006

asset, capital expenditure, department, expenses, financial year, intelligence and security department, Minister, Office of Parliament, operating surplus, remeasurements, Responsible Minister, and Vote have the meanings given to them by section 2(1) of the Public Finance Act 1989.

6 Authority to incur expenses

(1)

Expenses may, during the 2005/06 year, be incurred in advance of appropriation in relation to any Vote.

(2)

Expenses incurred under subsection (1) during the 2005/06 year must not exceed in the aggregate the sum of $4,800 million.

7 Authority to incur capital expenditure

(1)

Capital expenditure may, during the 2005/06 year, be incurred in advance of appropriation in relation to any Vote.

(2)

Capital expenditure incurred under subsection (1) during the 2005/06 year must not exceed in the aggregate the sum of $1,100 million.

8 Authority additional to that conferred by Imprest Supply (Second for 2005/06) Act 2005

The authority conferred by this Act to incur expenses and capital expenditure is in addition to, and not in substitution for, the authority conferred by the Imprest Supply (Second for 2005/06) Act 2005.

9 Appropriation required

(1)

All expenses incurred under section 6(1) and all capital expenditure incurred under section 7(1) must be charged in the manner specified in an Appropriation Act for the 2005/06 year.

(2)

Until the coming into force of the Appropriation Act in which that manner is specified, those expenses and that capital expenditure may be incurred during the 2005/06 year as if they had been incurred in accordance with one of the separate appropriations specified in section 7(1) of the Public Finance Act 1989.

10 Authority to exceed net assets confirmed in Appropriation Act

(1)

The amount of net asset holding in a department (other than an intelligence and security department) or an Office of Parliament during the 2005/06 year may exceed the projected balance of net assets at 30 June 2006 set out in column 9 of Schedule 5 of the Appropriation (2005/06 Estimates) Act 2005 (projected balance) for that department or Office of Parliament.

(2)

The aggregate of the amounts of net asset holdings that exceed the projected balance for the relevant departments or Offices of Parliament in accordance with subsection (1) together with the total net asset holding of any department that is not listed in Schedule 5 of the Appropriation (2005/06 Estimates) Act 2005 must not exceed the aggregate of the projected balances for those departments and Offices of Parliament by more than $500 million.

(3)

For the purposes of subsections (1) and (2), the amount of net asset holding in a department or an Office of Parliament does not include—

(a)

any operating surplus retained as agreed between the Minister and the Responsible Minister for a department or an Office of Parliament in accordance with section 22(1) of the Public Finance Act 1989; or

(b)

any remeasurement of a department’s or an Office of Parliament’s reported net asset holding as set out in section 22(2) of the Public Finance Act 1989 that is not reflected in Schedule 5 of the Appropriation (2005/06 Estimates) Act 2005.

(4)

Subsection (1) applies despite section 22(3) of the Public Finance Act 1989.

11 Consequential repeal

Section 9 of the Imprest Supply (Second for 2005/06) Act 2005 is repealed.

Legislative history

23, 24 November 2005		Introduction, first reading, second reading, third reading
28 November 2005		Royal assent

This Act is administered in the Treasury.

Imprest Supply (Third for 2005-06) Act 2005