keep Naval Financial Regulations (Amendment)
Amendment to Naval Financial Regulations 1926, updating financial management, accounting, procurement, and payment procedures for the Royal Australian Navy. The 2014 amendment addresses outdated procedural requirements while maintaining financial controls over defence expenditure.
Naval financial regulations govern internal public accountability mechanisms for defence spending rather than constraining private markets, occupational licensing, or private enterprise. The compliance costs fall on Defence department personnel, not private businesses. Removing these regulations would create a governance vacuum in defence financial management, potentially enabling waste or reducing accountability for substantial public expenditure allocated to national defence. While 1926-era rules clearly need modernisation, the core framework of financial oversight for military spending serves a legitimate public interest that is difficult to replicate through other means.