(1) The provisions of the Financial Administration and Audit Act 1985 regulating the financial administration, audit and reporting of departments apply to and in relation to the Vocational Education and Training Trust Fund.

(2) The administration of the Vocational Education and Training Trust Fund is for the purposes of section 52 of the Financial Administration and Audit Act 1985 to be regarded as a service of the department.

(3) Section 14 of the Financial Administration and Audit Act 1985 does not apply to the Vocational Education and Training Trust Fund.