Nation-building Funds Act 2008

No longer in force

Administered by

Department of Finance

Superseded version

C2012C00340 C03

27 December 2011 - 30 June 2014

For transitional provisions relating to the repeal of this Act, see Schedule 2 (items 43-45) of the Emergency Response Fund (Consequential Amendments) Act 2019.

Table of contents

Chapter 1—Preliminary
- 1 Short title [see Note 1]
- 2 Commencement
- 3 Simplified outline
- 4 Definitions
- 5 Financial assets
- 6 Crown to be bound
- 7 Extension to external Territories
- 8 Extra-territorial application
Chapter 2—Building Australia Fund
Part 2.1—Introduction
- 9 Object
- 10 Simplified outline
Part 2.2—Building Australia Fund
- Division 1—Introduction
  - 11 Simplified outline
- Division 2—Establishment of the Building Australia Fund etc.
  - 12 Establishment of the Building Australia Fund
  - 13 Establishment of the Building Australia Fund Special Account
- Division 3—Credits of amounts to the Building Australia Fund
- Division 4—Debits of amounts from the Building Australia Fund
- Division 5—Inter-fund transfers
Part 2.3—Investment of the Building Australia Fund
- 30 Simplified outline
- 31 Objects of investment of the Building Australia Fund
- 32 Investment of the Building Australia Fund
- 33 Building Australia Fund to inherit investments of the Communications Fund
- 34 Management of investments of the Building Australia Fund
- 35 Building Australia Fund Investment Mandate
- 36 Limitation on Building Australia Fund Investment Mandate
- 37 Future Fund Board to be consulted on Building Australia Fund Investment Mandate
- 38 Compliance with Building Australia Fund Investment Mandate
- 39 Future Fund Board must not trigger the takeover provisions of the Corporations Act 2001
- 40 Borrowing
- 41 Building Australia Fund investment policies
- 42 Derivatives
- 43 Additional financial assets
- 44 Securities lending arrangements
- 45 Investment managers
- 46 Custody of securities
- 47 Refund of franking credits
- 48 Realisation of non-financial assets
- 49 Additional function of the Future Fund Board
Part 2.4—Payments
- Division 1—Introduction
  - 50 Simplified outline
- Division 2—Direct payments
- Division 3—Channelling of payments through the BAF Infrastructure Portfolio Special Account
- Division 4—Channelling of payments through the BAF Communications Portfolio Special Account
- Division 5—Channelling of payments through the BAF Energy Portfolio Special Account
- Division 6—Channelling of payments through the BAF Water Portfolio Special Account
- Division 7—Channelling of State/Territory grants payments through the COAG Reform Fund
- Division 8—Total payments for a financial year
Part 2.5—Reporting obligations etc.
- 113 Finance Minister may require Future Fund Board to prepare reports or give information
- 114 Keeping the responsible Ministers informed etc.
- 115 Finance Minister may give reports to other Ministers etc.
Part 2.6—Miscellaneous
- 116 Infrastructure Australia to advise Infrastructure Minister about transport infrastructure
- 117 Infrastructure Australia to advise Communications Minister about communications infrastructure
- 118 Infrastructure Australia to advise Energy Minister about energy infrastructure
- 119 Infrastructure Australia to advise Water Minister about water infrastructure
- 120 BAF evaluation criteria
- 121 Investment provisions do not apply to certain assets
- 122 Delegation by the Finance Minister
- 123 Delegation by the Treasurer
- 124 Delegation by the Infrastructure Minister
- 125 Delegation by the Communications Minister
- 126 Delegation by the Energy Minister
- 127 Delegation by the Water Minister
Chapter 3—Education Investment Fund
Part 3.1—Introduction
- 128 Object
- 129 Simplified outline
Part 3.2—Education Investment Fund
- Division 1—Introduction
  - 130 Simplified outline
- Division 2—Establishment of the Education Investment Fund etc.
  - 131 Establishment of the Education Investment Fund
  - 132 Establishment of the Education Investment Fund Special Account
- Division 3—Credits of amounts to the Education Investment Fund
  - 134 Credits of amounts to the Education Investment Fund Special Account—determinations by the responsible Ministers
  - 135 Credit of amount to the Education Investment Fund Special Account—balance of the Higher Education Endowment Fund Special Account
- Division 4—Debits of amounts from the Education Investment Fund
- Division 5—Inter-fund transfers
Part 3.3—Investment of the Education Investment Fund
- 149 Simplified outline
- 150 Objects of investment of the Education Investment Fund
- 151 Investment of the Education Investment Fund
- 152 Education Investment Fund to inherit investments of the Higher Education Endowment Fund
- 153 Management of investments of the Education Investment Fund
- 154 Education Investment Fund Investment Mandate
- 155 Limitation on Education Investment Fund Investment Mandate
- 156 Future Fund Board to be consulted on Education Investment Fund Investment Mandate
- 157 Compliance with Education Investment Fund Investment Mandate
- 158 Future Fund Board must not trigger the takeover provisions of the Corporations Act 2001
- 159 Borrowing
- 160 Education Investment Fund investment policies
- 161 Derivatives
- 162 Additional financial assets
- 163 Securities lending arrangements
- 164 Investment managers
- 165 Custody of securities
- 166 Refund of franking credits
- 167 Realisation of non-financial assets
- 168 Additional function of the Future Fund Board
Part 3.4—Payments
- Division 1—Introduction
  - 169 Simplified outline
- Division 2—Education Investment Fund Advisory Board
- Division 3—Direct payments
- Division 4—Channelling of payments through the EIF Education Portfolio Special Account
- Division 5—Channelling of payments through the EIF Research Portfolio Special Account
- Division 6—Channelling of State/Territory grants payments through the COAG Reform Fund
- Division 7—Total payments for a financial year
Part 3.5—Reporting obligations etc.
- 203 Finance Minister may require Future Fund Board to prepare reports or give information
- 204 Keeping the responsible Ministers informed etc.
- 205 Finance Minister may give reports to other Ministers etc.
Part 3.6—Miscellaneous
- 206 Investment provisions do not apply to certain assets
- 207 Delegation by the Finance Minister
- 208 Delegation by the Treasurer
- 209 Delegation by the Education Minister
- 210 Delegation by the Research Minister
Chapter 4—Health and Hospitals Fund
Part 4.1—Introduction
- 211 Object
- 212 Simplified outline
Part 4.2—Health and Hospitals Fund
- Division 1—Introduction
  - 213 Simplified outline
- Division 2—Establishment of the Health and Hospitals Fund etc.
  - 214 Establishment of the Health and Hospitals Fund
  - 215 Establishment of the Health and Hospitals Fund Special Account
- Division 3—Credits of amounts to the Health and Hospitals Fund
  - 216 Initial credits of amounts to the Health and Hospitals Fund Special Account
  - 217 Subsequent credits of amounts to the Health and Hospitals Fund Special Account—determinations by the responsible Ministers
- Division 4—Debits of amounts from the Health and Hospitals Fund
- Division 5—Inter-fund transfers
Part 4.3—Investment of the Health and Hospitals Fund
- 225 Simplified outline
- 226 Objects of investment of the Health and Hospitals Fund
- 227 Investment of the Health and Hospitals Fund
- 228 Management of investments of the Health and Hospitals Fund
- 229 Health and Hospitals Fund Investment Mandate
- 230 Limitation on Health and Hospitals Fund Investment Mandate
- 231 Future Fund Board to be consulted on Health and Hospitals Fund Investment Mandate
- 232 Compliance with Health and Hospitals Fund Investment Mandate
- 233 Future Fund Board must not trigger the takeover provisions of the Corporations Act 2001
- 234 Borrowing
- 235 Health and Hospitals Fund investment policies
- 236 Derivatives
- 237 Additional financial assets
- 238 Securities lending arrangements
- 239 Investment managers
- 240 Custody of securities
- 241 Refund of franking credits
- 242 Realisation of non-financial assets
- 243 Additional function of the Future Fund Board
Part 4.4—Payments
- Division 1—Introduction
  - 244 Simplified outline
- Division 2—Health and Hospitals Fund Advisory Board
- Division 3—Direct payments
- Division 4—Channelling of payments through the HHF Health Portfolio Special Account
- Division 5—Channelling of State/Territory grants payments through the COAG Reform Fund
- Division 6—Total payments for a financial year
Part 4.5—Reporting obligations etc.
- 271 Finance Minister may require Future Fund Board to prepare reports or give information
- 272 Keeping the responsible Ministers informed etc.
- 273 Finance Minister may give reports to other Ministers etc.
Part 4.6—Miscellaneous
- 274 Investment provisions do not apply to certain assets
- 275 Delegation by the Finance Minister
- 276 Delegation by the Treasurer
- 277 Delegation by the Health Minister
Chapter 5—Regulations
- 278 Regulations
  - Notes to the STYLEREF ShortT Nation-building Funds Act 2008

Federal Register of Legislation

Scheduled Maintenance Thursday 26 May from 9pm

Nation-building Funds Act 2008

Scheduled Maintenance Thursday 26 May from 9pm

Nation-building Funds Act 2008

Legislation text