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Disaster Ready Fund Act 2019
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Department of Finance
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C2024C00295 C04
06 July 2024
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Part 1—Preliminary
1 Short title
2 Commencement
3 Simplified outline of this Act
4 Definitions
5 Crown to be bound
6 Extension to external Territories
7 Extra territorial application
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Part 2—Disaster Ready Fund
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Division 1—Introduction
8 Simplified outline of this Part
Division 2—Establishment of the Disaster Ready Fund and the Disaster Ready Fund Special Account
9 Disaster Ready Fund
9A Transitional—investments of the Disaster Ready Fund
12 Disaster Ready Fund Special Account
Division 3—Credits of amounts to the Disaster Ready Fund Special Account
13 Credits of amounts
Division 4—Debits of amounts from the Disaster Ready Fund
14 Main purposes of the Disaster Ready Fund Special Account
15 Purposes of the Disaster Ready Fund Special Account—purposes related exclusively to the investments etc. of the Disaster Ready Fund
16 Purposes of the Disaster Ready Fund Special Account—purposes not related exclusively to the Disaster Ready Fund
17 Future Fund Board must ensure that the balance of the Disaster Ready Fund Special Account is sufficient to cover authorised debits etc.
18 Transfers from the Disaster Ready Fund to the Future Fund
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Part 3—Arrangements and grants relating to natural disasters
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Division 1—Introduction
19 Simplified outline of this Part
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Division 2—Arrangements and grants
20 Arrangements and grants
21 Terms and conditions of grants
22 Emergency Management Minister has powers etc. of the Commonwealth
23 Conferral of powers on the Emergency Management Minister
24 Constitutional limits
25 Executive power of the Commonwealth
26 Publication of information relating to arrangements and grants
26A Annual report regarding arrangements and grants
26B Review of arrangements and grants
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Division 3—Disaster Ready Fund Payments Special Account
27 Disaster Ready Fund Payments Special Account
28A Transfers from the Disaster Ready Fund Special Account to the Disaster Ready Fund Payments Special Account—resilience etc.
29 Other credits to the Disaster Ready Fund Payments Special Account
30 Purposes of the Disaster Ready Fund Payments Special Account
31 Excess balance of the Disaster Ready Fund Payments Special Account must be transferred to the Disaster Ready Fund Special Account
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Division 4—Channelling State/Territory grants through the Federation Reform Fund
32A Channelling State/Territory grants through the Federation Reform Fund—resilience etc.
33 Debits from the Federation Reform Fund
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Division 5—Limitation on total annual debits from the Disaster Ready Fund Special Account
34 Limitation on total annual debits from the Disaster Ready Fund Special Account
34A Determinations—advice given by the Future Fund Board
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Part 4—Investment of the Disaster Ready Fund
35 Simplified outline of this Part
36 Objects of investment of the Disaster Ready Fund
37 Investment of the Disaster Ready Fund
38 Management of investments of the Disaster Ready Fund
39 Disaster Ready Fund Investment Mandate
40 Obligation on Future Fund Board in performing investment functions
41 Limitation on Disaster Ready Fund Investment Mandate
42 Future Fund Board to be consulted on Disaster Ready Fund Investment Mandate
43 Compliance with Disaster Ready Fund Investment Mandate
44 Future Fund Board must not trigger the takeover provisions of the Corporations Act 2001
45 Borrowing
46 Disaster Ready Fund investment policies
47 Derivatives
48 Additional financial assets
49 Securities lending arrangements
50 Investment managers
51 Refund of franking credits
52 Realisation of non financial assets
53 Additional function of the Future Fund Board
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Part 5—Reporting obligations etc.
54 Simplified outline of this Part
55 Finance Minister may require Future Fund Board to prepare reports or give information
56 Keeping the responsible Ministers informed etc.
57 Finance Minister may give reports, documents and other information to other Ministers
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Part 6—Miscellaneous
58 Simplified outline of this Part
59 Delegation by the Finance Minister
60 Delegation by the Treasurer
61 Delegation by the Emergency Management Minister
63 Review of operation of Act
64 Rules
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Endnotes
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
