Delegation of authority to write off losses

1) The Minister may delegate under this Act the Minister’s power to write off losses to the responsible authority for a budget sector agency only if satisfied that –

(a) the agency has issued a finance manual that satisfies the requirements of the Finance Instructions;

(b) the agency is maintaining a register of losses in a manner that satisfies the requirements of the Finance Instructions; and

(c) other conditions specified in the Finance Instructions or determined by the Minister have been satisfied.

2) Without limiting section 74, the responsible authority for the agency may, if and as authorised to do so by the Finance Instructions or instrument of delegation, sub-delegate the power to officers of the agency.

3) Without limiting section 75, the conditions of a delegation may limit the amount of losses that a delegate or sub-delegate may write off, and may specify different limits for different classes of losses and for different classes of delegates and sub-delegates.

4) Subsection (1) does not affect the delegation to the chief executive officer of the Ministry of Finance of the power to write off losses.

5) Nothing in this section requires the power to write off losses to be delegated or prevents its revocation.

(Financial Management Act 2004 s(36))