Federal Register of Legislation - Australian Government

Primary content

Financial Framework Legislation Amendment Act 2005

  • - C2005A00008
  • In force - Superseded Version
  • View Series
Act No. 8 of 2005 as made
An Act to amend Commonwealth financial management legislation and other financial and reporting provisions, and for related purposes
Administered by: Finance
Originating Bill: Financial Framework Legislation Amendment Bill 2004
Registered 08 Mar 2005
Date of Assent 22 Feb 2005

 

 

 

 

 

 

Financial Framework Legislation Amendment Act 2005

 

No. 8, 2005

 

 

 

 

 

An Act to amend Commonwealth financial management legislation and other financial and reporting provisions, and for related purposes

  

  


Contents

1............ Short title............................................................................................ 1

2............ Commencement.................................................................................. 2

3............ Schedule(s).......................................................................................... 3

4............ Saving of matters in Part 2 of Schedule 1........................................... 3

Schedule 1—Amendments relating to the Financial Management Legislation Amendment Act 1999 and Special Accounts                                                                                                                      4

Part 1—Removal of references to Loan Fund                                                       4

Acts Interpretation Act 1901                                                                                     4

Higher Education Funding Act 1988                                                                      4

Housing Assistance Act 1978                                                                                    4

Housing Assistance Act 1981                                                                                    4

Housing Assistance Act 1984                                                                                    4

Loan (Temporary Revenue Deficits) Act 1953                                                       4

Loans (Australian Industry Development Corporation) Act 1974                    4

Sewerage Agreements Act 1973                                                                                4

Sewerage Agreements Act 1974                                                                                4

States Grants (Primary and Secondary Education Assistance) Act 1992        4

States Grants (Primary and Secondary Education Assistance) Act 1996        4

States (Works and Housing) Assistance Act 1982                                                4

States (Works and Housing) Assistance Act 1983                                                4

States (Works and Housing) Assistance Act 1984                                                4

States (Works and Housing) Assistance Act 1985                                                4

States (Works and Housing) Assistance Act 1988                                                4

Vocational Education and Training Funding Act 1992                                     4

Part 2—Special Accounts and references to paid to the Consolidated Revenue Fund             4

Aboriginal Land (Lake Condah and Framlingham Forest) Act 1987              4

Aboriginal Land Rights (Northern Territory) Act 1976                                      4

Acts Interpretation Act 1901                                                                                     4

AeroSpace Technologies of Australia Limited Sale Act 1994                            4

Agricultural and Veterinary Chemicals (Administration) Act 1992                 4

Agricultural and Veterinary Chemical Products (Collection of Interim Levy) Act 1994  4

Agricultural and Veterinary Chemical Products (Collection of Levy) Act 1994                4

Alcohol Education and Rehabilitation Account Act 2001                                 4

Australia‑Japan Foundation Act 1976                                                                   4

Australian Centre for International Agricultural Research Act 1982              4

Australian Federal Police Act 1979                                                                        4

Australian Meat and Live‑stock Industry (Repeals and Consequential Provisions) Act 1997        4

Australian Radiation Protection and Nuclear Safety Act 1998                         4

Australian Securities and Investments Commission Act 2001                            4

Bankruptcy Act 1966                                                                                                  4

Broadcasting Services Act 1992                                                                               4

CFM Sale Act 1996                                                                                                     4

Child Support (Registration and Collection) Act 1988                                      4

Coal Mining Industry (Long Service Leave) Payroll Levy Collection Act 1992                4

Commonwealth Places (Mirror Taxes) Act 1998                                                  4

Corporations Act 2001                                                                                               4

Crimes Act 1914                                                                                                           4

Crimes (Superannuation Benefits) Act 1989                                                         4

CSL Sale Act 1993                                                                                                       4

Customs Act 1901                                                                                                        4

Defence Forces Retirement Benefits Fund (Distribution of Surplus to Pensioners) Act 1976          4

Defence Service Homes Act 1918                                                                              4

Financial Agreement Act 1994                                                                                 4

Financial Institutions Supervisory Levies Collection Act 1998                        4

Financial Management and Accountability Act 1997                                         4

Forestry and Timber Bureau Act 1930                                                                    4

Great Barrier Reef Marine Park Act 1975                                                              4

Higher Education Funding Act 1988                                                                      4

Income Tax Assessment Act 1936                                                                              4

Industrial Chemicals (Notification and Assessment) Act 1989                          4

International Monetary Agreements Act 1947                                                      4

Interstate Road Transport Act 1985                                                                        4

Lands Acquisition Act 1989                                                                                      4

Moomba‑Sydney Pipeline System Sale Act 1994                                                  4

National Blood Authority Act 2003                                                                         4

National Cattle Disease Eradication Reserve Act 1991                                      4

National Health and Medical Research Council Act 1992                                4

National Residue Survey Administration Act 1992                                              4

Native Title Act 1993                                                                                                  4

Natural Heritage Trust of Australia Act 1997                                                       4

Natural Resources Management (Financial Assistance) Act 1992                   4

Navigation Act 1912                                                                                                   4

Petroleum (Submerged Lands) Act 1967                                                                4

Primary Industries (Customs) Charges Act 1999                                                  4

Primary Industries (Excise) Levies Act 1999                                                         4

Proceeds of Crime Act 1987                                                                                      4

Proceeds of Crime Act 2002                                                                                      4

Protection of Movable Cultural Heritage Act 1986                                             4

Protection of the Sea (Oil Pollution Compensation Fund) Act 1993               4

Sea Installations Act 1987                                                                                         4

Small Superannuation Accounts Act 1995                                                             4

Snowy Hydro Corporatisation Act 1997                                                                4

Snowy Mountains Engineering Corporation Limited Sale Act 1993               4

States Grants (Primary and Secondary Education Assistance) Act 1992        4

States Grants (Primary and Secondary Education Assistance) Act 1996        4

Student Assistance Act 1973                                                                                     4

Superannuation Act 1922                                                                                          4

Superannuation Act 1976                                                                                          4

Superannuation (Government Co‑contribution for Low Income Earners) Act 2003         4

Superannuation Guarantee (Administration) Act 1992                                      4

Superannuation Industry (Supervision) Act 1993                                                4

Sydney Airport Demand Management Act 1997                                                   4

Taxation Administration Act 1953                                                                           4

Telecommunications Act 1997                                                                                  4

Telecommunications (Consumer Protection and Service Standards) Act 1999 4

Telstra Corporation Act 1991                                                                                   4

Therapeutic Goods Act 1989                                                                                     4

Vocational Education and Training Funding Act 1992                                     4

Workplace Relations Act 1996                                                                                 4

Schedule 2—Other amendments                                                                                    4

Aboriginal and Torres Strait Islander Act 2005                                                   4

Aboriginal Land Rights (Northern Territory) Act 1976                                      4

Agricultural and Veterinary Chemicals (Administration) Act 1992                 4

Albury‑Wodonga Development Act 1973                                                                4

Australian Broadcasting Corporation Act 1983                                                  4

Australian Film Commission Act 1975                                                                    4

Australian Hearing Services Act 1991                                                                    4

Australian Maritime Safety Authority Act 1990                                                    4

Australian National University Act 1991                                                               4

Australian Nuclear Science and Technology Organisation Act 1987              4

Australian Prudential Regulation Authority Act 1998                                        4

Australian Trade Commission Act 1985                                                                 4

Commonwealth Authorities and Companies Act 1997                                        4

Co‑operative Farmers and Graziers Direct Meat Supply Limited (Loan Guarantee) Act 1978      4

Defence Housing Authority Act 1987                                                                      4

Export Finance and Insurance Corporation Act 1991                                        4

Financial Management and Accountability Act 1997                                         4

Fisheries Administration Act 1991                                                                          4

Health Insurance Commission Act 1973                                                                 4

High Court of Australia Act 1979                                                                            4

Maritime College Act 1978                                                                                       4

Native Title Act 1993                                                                                                  4

Norfolk Island Act 1979                                                                                             4

Northern Prawn Fishery Voluntary Adjustment Scheme Loan Guarantee Act 1985          4

Northern Territory (Lessees’ Loans Guarantee) Act 1954                                  4

Primary Industries and Energy Research and Development Act 1989             4

Safety, Rehabilitation and Compensation Act 1988                                            4

Special Broadcasting Service Act 1991                                                                  4

Stevedoring Industry Finance Committee Act 1977                                             4

Sydney Harbour Federation Trust Act 2001                                                          4

Schedule 3—Repeal of Acts                                                                                             4

Australian Development Assistance Agency (Repeal) Act 1977                        4

Loan Act (No. 2) 1983                                                                                                4

Loan Act 1984                                                                                                              4

Loan Act 1985                                                                                                              4

Loan Act 1986                                                                                                              4

Loan Act 1992                                                                                                              4

Loan Act 1993                                                                                                              4

Loan Act 1994                                                                                                              4

Loan Act 1995                                                                                                              4

Loan Act 1996                                                                                                              4

Loan (Income Equalization Deposits) Act 1976                                                   4

Loan (International Bank for Reconstruction and Development) Act 1950   4

Loan (Supplementary Borrowing) Act 1969                                                          4

Loans (Qantas Airways Limited) Act (No. 2) 1971                                               4

Loans (Qantas Airways Limited) Act 1972                                                             4

Loans (Qantas Airways Limited) Act 1974                                                             4

Loans (Qantas Airways Limited) Act 1976                                                             4

Qantas Airways Limited (Loan Guarantee) Act 1976                                          4

Railway Standardization (South Australia) Agreement Act 1949                    4

Roads Grants Act 1980                                                                                               4

Roads Grants Act 1981                                                                                               4

States Grants (Capital Assistance) Act (No. 3) 1972                                           4

States Grants (Capital Assistance) Act 1979                                                         4

States Grants (Capital Assistance) Act 1980                                                         4

States Grants (Capital Assistance) Act 1981                                                         4

States Grants (Roads) Act 1977                                                                               4

States Grants (Urban Public Transport) Act 1978                                               4

War Gratuity Appropriation Act 1948                                                                    4

 


 

 

Financial Framework Legislation Amendment Act 2005

No. 8, 2005

 

 

 

An Act to amend Commonwealth financial management legislation and other financial and reporting provisions, and for related purposes

[Assented to 22 February 2005]

The Parliament of Australia enacts:

1  Short title

                   This Act may be cited as the Financial Framework Legislation Amendment Act 2005.

2  Commencement

             (1)  Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provision(s)

Commencement

Date/Details

1.  Sections 1 to 4 and anything in this Act not elsewhere covered by this table

The day on which this Act receives the Royal Assent.

22 February 2005

2.  Schedule 1, items 1 to 440

The day on which this Act receives the Royal Assent.

22 February 2005

3.  Schedule 1, item 441

1 July 2005.

1 July 2005

4.  Schedule 1, items 442 and 443

The day on which this Act receives the Royal Assent.

22 February 2005

5.  Schedule 1, item 444

1 July 2005.

1 July 2005

6.  Schedule 1, items 445 to 455

The day on which this Act receives the Royal Assent.

22 February 2005

7.  Schedule 1, items 456 and 457

1 July 2005.

1 July 2005

8.  Schedule 1, items 458 to 490

The day on which this Act receives the Royal Assent.

22 February 2005

9.  Schedule 1, items 491 and 492

1 July 2005.

1 July 2005

10.  Schedule 1, items 493 to 496

The day on which this Act receives the Royal Assent.

22 February 2005

11.  Schedule 2, items 1 to 10

The later of:

(a) the start of the day on which this Act receives the Royal Assent; and

(b) immediately after the commencement of Schedule 1 to the Aboriginal and Torres Strait Islander Commission Amendment Act 2005.

However, the provision(s) do not commence at all if the event mentioned in paragraph (b) does not occur.

24 March 2005

(paragraph (b) applies)

12.  Schedule 2, items 11 to 174

The day on which this Act receives the Royal Assent.

22 February 2005

13.  Schedule 3

The day on which this Act receives the Royal Assent.

22 February 2005

Note:          This table relates only to the provisions of this Act as originally passed by the Parliament and assented to. It will not be expanded to deal with provisions inserted in this Act after assent.

             (2)  Column 3 of the table contains additional information that is not part of this Act. Information in this column may be added to or edited in any published version of this Act.

3  Schedule(s)

                   Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

4  Saving of matters in Part 2 of Schedule 1

             (1)  If:

                     (a)  a decision or action is taken or another thing is made, given or done; and

                     (b)  the thing is taken, made, given or done under a provision of a Part 2 Act that had effect immediately before the commencement of this Act;

then the thing has the corresponding effect, for the purposes of the Part 2 Act as amended by this Act, as if it had been taken, made, given or done under the Part 2 Act as so amended.

             (2)  In this section:

Part 2 Act means an Act that is amended by an item in Part 2 of Schedule 1.


 

Schedule 1Amendments relating to the Financial Management Legislation Amendment Act 1999 and Special Accounts

Part 1Removal of references to Loan Fund

Acts Interpretation Act 1901

1  Paragraph 17(ka)

Repeal the paragraph.

Higher Education Funding Act 1988

2  Sections 114 and 117

Repeal the sections.

3  Subsection 118(1)

Omit “and the Loan Fund are”, substitute “is”.

Housing Assistance Act 1978

4  Section 8

Omit “to the Consolidated Revenue Fund in accordance with section 10”, substitute “and advances to the States for the purposes of this Part”.

5  Section 9

Omit “to the Consolidated Revenue Fund in accordance with section 10, and the Loan Fund is appropriated, as necessary, for those purposes”, substitute “and advances to the States for the purposes of this Part”.

6  Section 10

Repeal the section.

Housing Assistance Act 1981

7  Section 12

Omit “to the Consolidated Revenue Fund in accordance with section 14”, substitute “and advances to the States for the purposes of this Act”.

8  Section 13

Omit “to the Consolidated Revenue Fund in accordance with section 14, and the Loan Fund is appropriated, as necessary, for those purposes”, substitute “and advances to the States for the purposes of this Act”.

9  Section 14

Repeal the section.

Housing Assistance Act 1984

10  Section 13

Omit “to the Consolidated Revenue Fund in accordance with section 15”, substitute “and advances to the States for the purposes of this Act”.

11  Section 14

Omit “to the Consolidated Revenue Fund in accordance with section 15, and the Loan Fund is appropriated, as necessary, for those purposes”, substitute “and advances to the States for the purposes of this Act”.

12  Section 15

Repeal the section.

Loan (Temporary Revenue Deficits) Act 1953

13  Section 3

Repeal the section.

14  Section 4

Omit “moneys standing to the credit of the Loan Fund”, substitute “amounts in the Consolidated Revenue Fund”.

15  Section 4

Omit “under the last preceding section”.

Loans (Australian Industry Development Corporation) Act 1974

16  Subsection 7(4)

Omit “Loan Fund”, substitute “Consolidated Revenue Fund”.

Sewerage Agreements Act 1973

17  Section 4

Omit “or out of the Loan Fund”.

18  Section 6

Omit “borrowing,”, substitute “borrowing and”.

19  Section 6

Omit “and for the purpose of making payments to the Consolidated Revenue Fund in accordance with section 7”.

20  Section 7

Repeal the section.

21  Section 8

Omit “and the Loan Fund are”, substitute “is”.

Sewerage Agreements Act 1974

22  Section 6

Omit “or out of the Loan Fund”.

23  Subsection 8(1)

Omit “borrowing,”, substitute “borrowing and”.

24  Subsections 8(1) and (2)

Omit “and for the purpose of making payments to the Consolidated Revenue Fund in accordance with section 9”.

25  Section 9

Repeal the section.

26  Section 10

Omit “and the Loan Fund are”, substitute “is”.

States Grants (Primary and Secondary Education Assistance) Act 1992

27  Sections 112 and 115

Repeal the sections.

28  Section 116

Omit “and Loan Fund are”, substitute “is”.

States Grants (Primary and Secondary Education Assistance) Act 1996

29  Sections 84 and 87

Repeal the sections.

30  Section 88

Omit “and Loan Fund are”, substitute “is”.

States (Works and Housing) Assistance Act 1982

31  Section 9

Omit “or the Loan Fund”.

Note:       The heading to section 9 is altered by omitting “or Loan Fund”.

32  Section 11

Omit “borrowing,”, substitute “borrowing and”.

33  Section 11

Omit “and for the purposes of making payments to the Consolidated Revenue Fund in accordance with section 12”.

34  Section 12

Repeal the section.

35  Section 13

Omit “and the Loan Fund are”, substitute “is”.

States (Works and Housing) Assistance Act 1983

36  Section 14

Omit “or the Loan Fund”.

Note:       The heading to section 14 is altered by omitting “or Loan Fund”.

37  Section 16

Omit “borrowing,”, substitute “borrowing and”.

38  Section 16

Omit “and for the purposes of making payments to the Consolidated Revenue Fund in accordance with section 17”.

39  Section 17

Repeal the section.

40  Section 18

Omit “and the Loan Fund are”, substitute “is”.

States (Works and Housing) Assistance Act 1984

41  Section 14

Omit “or the Loan Fund”.

Note:       The heading to section 14 is altered by omitting “or Loan Fund”.

42  Section 16

Omit “borrowing,”, substitute “borrowing and”.

43  Section 16

Omit “and for the purposes of making payments to the Consolidated Revenue Fund in accordance with section 17”.

44  Section 17

Repeal the section.

45  Section 18

Omit “and the Loan Fund are”, substitute “is”.

States (Works and Housing) Assistance Act 1985

46  Section 14

Omit “or the Loan Fund”.

Note:       The heading to section 14 is altered by omitting “or Loan Fund”.

47  Section 16

Omit “borrowing,”, substitute “borrowing and”.

48  Section 16

Omit “and for the purposes of making payments to the Consolidated Revenue Fund in accordance with section 17”.

49  Section 17

Repeal the section.

50  Section 18

Omit “and the Loan Fund are”, substitute “is”.

States (Works and Housing) Assistance Act 1988

51  Section 12

Omit “or the Loan Fund”.

Note:       The heading to section 12 is altered by omitting “or Loan Fund”.

52  Section 14

Omit “borrowing,”, substitute “borrowing and”.

53  Section 14

Omit “and for the purposes of making payments to the Consolidated Revenue Fund in accordance with section 15”.

54  Section 15

Repeal the section.

55  Section 16

Omit “and the Loan Fund are”, substitute “is”.

Vocational Education and Training Funding Act 1992

56  Sections 10 and 13

Repeal the sections.

57  Section 14

Omit “and the Loan Fund are”, substitute “is”.


 

Part 2Special Accounts and references to paid to the Consolidated Revenue Fund

Aboriginal Land (Lake Condah and Framlingham Forest) Act 1987

58  Section 38

Repeal the section, substitute:

38  Credit of amounts to and debits from Accounts

             (1)  The Accounts referred to in subsections (2), (4) and (6) are Special Accounts for the purposes of the Financial Management and Accountability Act 1997.

Condah Land Account

             (2)  There is continued in existence the Condah Land Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (3)  There must be credited to the Condah Land Account, from time to time, amounts determined by the regulations.

Framlingham Forest Account

             (4)  There is continued in existence the Framlingham Forest Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (5)  There must be credited to the Framlingham Forest Account, from time to time, amounts determined by the regulations.

Aboriginal Advancement Account

             (6)  The Aboriginal Advancement Account is established for the purpose of furthering the social and economic advancement of Aboriginal people living in Victoria.

             (7)  The amount standing to the credit of the Condah Land Account must be applied as follows:

                     (a)  one‑half must be debited and paid by the Commonwealth to an Aboriginal Corporation nominated by the Minister;

                     (b)  one‑half must be debited for crediting under subsection (8).

             (8)  Whenever an amount is debited from the Condah Land Account under paragraph (7)(b), an equal amount must be credited to the Aboriginal Advancement Account.

             (9)  The amount standing to the credit of the Framlingham Forest Account must be applied as follows:

                     (a)  one‑half must be debited and paid by the Commonwealth to the Kirrae Whurrong Aboriginal Corporation;

                     (b)  one‑half must be debited for crediting under subsection (10).

           (10)  Whenever an amount is debited from the Framlingham Forest Account under paragraph (9)(b), an equal amount must be credited to the Aboriginal Advancement Account.

           (11)  The Minister may debit the Aboriginal Advancement Account for the purpose mentioned in subsection (6). Amounts equal to the amounts debited are paid by the Commonwealth.

           (12)  The Minister may, at any time, direct that, from a specified date:

                     (a)  amounts standing to the credit of the Aboriginal Advancement Account at that date are to be debited and paid by the Commonwealth to; and

                     (b)  one‑half of the royalties credited to the Condah Land Account or the Framlingham Forest Account (which would otherwise be debited from the Account under paragraph (7)(b) or (9)(b)) are to be debited and paid by the Commonwealth to;

a body nominated by that Minister that is representative of Aboriginals and is established and administered by Aboriginals for the advancement of Aboriginals.

           (13)  If interest is received by the Commonwealth from the investment of an amount standing to the credit of an Account continued in existence or established by or under this section, an amount equal to the interest must be credited to that Account.

Aboriginal Land Rights (Northern Territory) Act 1976

59  Subsection 3(1)

Insert:

Account means the Aboriginals Benefit Account continued in existence by section 62.

60  Subsection 3(1) (definition of Reserve)

Repeal the definition.

61  Subsection 35(2A)

Omit “64(7)”, substitute “64(8)”.

62  Part VI (heading)

Repeal the heading, substitute:

Part VIAboriginals Benefit Account

63  Sections 62 and 62A

Repeal the sections, substitute:

62  Aboriginals Benefit Account

             (1)  There is continued in existence the Aboriginals Benefit Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

             (3)  If interest is received by the Commonwealth from the investment of an amount standing to the credit of the Account, an amount equal to the interest must be credited to the Account.

64  Sections 63, 64 and 64A

Repeal the sections, substitute:

63  Credit of amounts to Account

             (1)  Subject to subsection (2), there must be credited to the Account, from time to time, amounts equal to the amounts of any royalties received by the Commonwealth or the Northern Territory in respect of a mining interest in Aboriginal land.

             (2)  If, because of an increase in the rate of royalty since 26 January 1977, an amount of royalties received by the Commonwealth in respect of a mining interest in the area of Aboriginal land described in Schedule 5 is higher than the amount that, but for that increase, the Commonwealth would have received in respect of that mining interest, such part only of the increase in the amount of those royalties as is determined by the Minister is to be taken into account in calculating the amount to be credited to the Account under subsection (1) in respect of those royalties.

             (3)  If:

                     (a)  after 17 January 1990, a mining interest in respect of Aboriginal land in the Northern Territory has been granted under:

                              (i)  subsection 51(1A) of the Lands Acquisition Act 1955 in so far as it applies by virtue of subsection 124(8) of the Lands Acquisition Act 1989; or

                             (ii)  regulations made for the purposes of subsection 124(1) of the Lands Acquisition Act 1989; and

                     (b)  because of an increase in the rate of royalty since the grant of the mining interest, an amount of royalties received by the Commonwealth in respect of the mining interest is higher than the amount that, but for that increase, the Commonwealth would have received in respect of that mining interest;

such part only of the increase in the amount of those royalties as is determined by the Minister is to be taken into account in calculating the amount to be credited to the Account under subsection (1) in respect of those royalties.

             (4)  If mining operations for minerals are carried on under the Atomic Energy Act 1953 or any other Act on Aboriginal land by, or on behalf of, the Commonwealth, the Northern Territory or an Authority, there must be credited to the Account, from time to time, payments in respect of those mining operations of such amounts as are determined in accordance with subsection (5).

             (5)  Amounts payable under subsection (4) are:

                     (a)  such amounts as would be payable to the Crown as royalties if the mining operations were carried on in accordance with the law of the Northern Territory relating to mining for minerals and the royalties were payable at the rate fixed by that law immediately before 26 January 1977; or

                     (b)  if the Minister administering the Act under which the mining operations are carried on and the Minister administering this Act jointly determine that amounts higher than the amounts referred to in paragraph (a) are to be payable under subsection (4) in respect of particular mining operations—the amounts so determined.

             (6)  There must be credited to the Account amounts equal to any money paid by any person to the Commonwealth for the purposes of the Account.

             (7)  There must be credited to the Account amounts equal to any amounts from time to time received by the Commonwealth as interest on, or as repayment of, any loan made under subsection 64(4).

64  Debits from the Account

             (1)  There must be debited from the Account from time to time, and paid by the Commonwealth for distribution between or among the Land Councils in such proportions as the Minister determines having regard to the number of Aboriginals living in the area of each Council, an amount equal to 40% of the amounts credited to the Account in accordance with subsection 63(1) or (4).

             (2)  If the distribution referred to in subsection (1) is between 2 Land Councils only, the Minister must determine the proportions for the purposes of that distribution as 50% for each Council.

             (3)  There must be debited from the Account and paid by the Commonwealth, from time to time, to each Land Council in the area of which a mining interest referred to in subsection 63(1) is situated, or mining operations referred to in subsection 63(4) are being carried on, an amount equal to 30% of any amounts:

                     (a)  credited to the Account in accordance with subsection 63(1) in respect of that mining interest; or

                     (b)  credited to the Account in accordance with subsection 63(4) in respect of those mining operations;

as the case may be.

             (4)  There must be debited from the Account and paid by the Commonwealth such other amounts as the Minister directs to be paid or applied to or for the benefit of Aboriginals living in the Northern Territory.

             (5)  A payment of an amount debited from the Account under subsection (4) may be by way of a loan (whether secured or unsecured) by the Commonwealth on such conditions as the Minister thinks fit.

             (6)  There must be debited from the Account and paid by the Commonwealth such amounts to meet the expenses of administering the Account as the Minister directs.

             (7)  Amounts that the Minister directs to be debited from the Account under subsection (4) or (6) must be paid or applied in accordance with the direction.

             (8)  Where, at any time, the Minister is satisfied that a Land Council is, or may be, unable to meet its administrative costs, in accordance with section 34, from money that is, or may become, available to it for the purpose, the Minister may direct that such amount as the Minister specifies in the direction must be paid to the Land Council by the Commonwealth and debited from the Account for the purpose of meeting those costs.

64A  Debit of additional amounts from Account

             (1)  The Minister may, in his or her discretion, from time to time, by written instrument, direct the debit from the Account of such amounts as he or she specifies in the direction.

             (2)  If the Minister directs, under subsection (1), the debit of a specified amount from the Account, neither subsection 221ZB(1) of the Income Tax Assessment Act 1936 nor section 12‑320 in Schedule 1 to the Taxation Administration Act 1953 applies in relation to the debit of that amount. But there must also be debited from the Account such additional amount as would be necessary to discharge any liability for mining withholding tax in accordance with Division 11C of Part III of the Income Tax Assessment Act 1936 in respect of the first‑mentioned amount. The debit of that additional amount discharges that liability.

             (3)  The Minister must, in a direction under subsection (1), specify, in relation to each amount that he or she directs be debited from the Account:

                     (a)  that the amount is to be taken, for the purposes of this section, to have been debited from the Account in relation to a specified Land Council; or

                     (b)  that specified amounts that are, in the aggregate, equal to that amount are to be respectively taken, for the purposes of this section, to have been debited from the Account in relation to specified Land Councils.

             (4)  If, in consequence of a direction by the Minister under subsection (1) that an amount be debited from the Account, an additional amount is also debited from the Account in accordance with subsection (2), the Minister must, by written instrument, direct, in relation to that additional amount:

                     (a)  that the additional amount is to be taken, for the purposes of this section, to have been debited from the Account in relation to a specified Land Council; or

                     (b)  that specified amounts that are, in the aggregate, equal to the additional amount are to be respectively taken for the purposes of this section, to have been debited from the Account in relation to specified Land Councils.

             (5)  The Minister must, in specifying under subsection (3) that an amount is to be taken, for the purposes of this section, to have been debited from the Account in relation to a specified Land Council, ensure that the aggregate of that amount and the amount or amounts (if any) specified in a previous direction or previous directions under subsection (1) in relation to that Land Council does not exceed the total of the amounts paid by the Commonwealth, after 30 June 1978, to that Land Council for the purpose of meeting the administrative costs of that Land Council.

             (6)  An amount that is to be taken for the purposes of this section to have been debited from the Account in respect of a particular Land Council must nonetheless be taken into account for the purposes of subsection 64(1) as if it had been debited from the Account and paid by the Commonwealth in accordance with that subsection to the Land Council.

             (7)  The reference in subsection (5) to amounts paid by the Commonwealth to a Land Council for the purpose of meeting the administrative costs of that Land Council does not include a reference to:

                     (a)  any amount that is paid to that Land Council under an agreement under subsection 44(1) or (2); or

                     (b)  any amount that is paid to that Land Council out of the appropriation made by item 07 of subdivision 3 of Division 640 of the Appropriation Act (No. 1) 1978‑79; or

                     (c)  any amount that is paid to that Land Council out of the appropriation made by subdivision 1 of Division 815 of the Appropriation Act (No. 4) 1980‑81; or

                     (d)  any amount that is paid to that Land Council out of the appropriation made by item 09 of subdivision 3 of Division 120 of the Appropriation Act (No. 1) 1981‑82; or

                     (e)  any other amount that is paid to that Land Council for that purpose by the Commonwealth and that the Minister determines, by written instrument, should not be taken into account for the purposes of this section.

65  Subsection 64B(1)

Omit “Reserve”, substitute “Account”.

66  Subsection 65(1)

Omit “a Reserve (first occurring)”, substitute “an Account”.

Note:       The heading to section 65 is altered by omitting “Reserve” and substituting “Account”.

67  Subsection 65(1)

Omit “the making of payments out of the Reserve”, substitute “debiting the Account for the purposes of making payments”.

68  Subsections 65(2) and (3)

Omit “Reserve”, substitute “Account”.

69  Schedule 5

Omit “Subsection 63(3)”, substitute “Subsection 63(2)”.

Acts Interpretation Act 1901

70  Paragraph 17(kb)

Repeal the paragraph.

AeroSpace Technologies of Australia Limited Sale Act 1994

71  Subsection 14(4)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Agricultural and Veterinary Chemicals (Administration) Act 1992

72  Paragraph 58(2)(aa)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

73  Paragraph 58(2)(ab)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Agricultural and Veterinary Chemical Products (Collection of Interim Levy) Act 1994

74  Section 16

Repeal the section, substitute:

16  Levy and late payment penalty recoverable as debts

             (1)  Any levy that has not been paid on or before the prescribed date for payment of the levy, or any late payment penalty that is payable, is:

                     (a)  a debt due to the Commonwealth; and

                     (b)  payable to the NRA on behalf of the Commonwealth; and

                     (c)  may be sued for and recovered by the NRA.

             (2)  The NRA must pay to the Commonwealth any amounts of levy or late payment penalty received by it.

Agricultural and Veterinary Chemical Products (Collection of Levy) Act 1994

75  Section 19

Repeal the section, substitute:

19  Levy and late payment penalty recovered as debts

             (1)  Any levy that has not been paid on or before the prescribed date for payment of the levy, or any late payment penalty that is payable, is:

                     (a)  a debt due to the Commonwealth; and

                     (b)  payable to the NRA on behalf of the Commonwealth; and

                     (c)  may be sued for and recovered by the NRA.

             (2)  The NRA must pay to the Commonwealth any amounts of levy or late payment penalty received by it.

Alcohol Education and Rehabilitation Account Act 2001

76  Subsection 8(1)

Omit “Money”, substitute “Amounts”.

Note:       The heading to section 8 is altered by omitting “Money in” and substituting “ Amounts standing to the credit of”.

77  Subsection 8(2)

Omit “money”, substitute “amounts”.

Australia‑Japan Foundation Act 1976

78  Section 3

Insert:

Account means the account continued in existence by section 17.

79  Section 3 (definition of Reserve)

Repeal the definition.

80  Paragraph 5(1)(d)

Omit “Reserve”, substitute “Account”.

81  Part IV (heading)

Repeal the heading, substitute:

Part IVAustralia‑Japan Account

82  Sections 17 and 18

Repeal the sections, substitute:

17  Australia‑Japan Account

             (1)  There is continued in existence the Australia‑Japan Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

18  Credit of amounts to Account

                   There must be credited to the Account amounts equal to:

                     (a)  income derived from the investment of an amount standing to the credit of the Account; and

                     (b)  any money received by the Commonwealth or by the Foundation from the disposal of property purchased or produced, or in respect of any work paid for, with an amount standing to the credit of the Account; and

                     (c)  any other money derived by the Foundation in the performance of its functions; and

                     (d)  any money received by the Foundation by way of, or as a result of, a gift, devise or bequest.

Note:          An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

83  Subsection 19(1)

Omit “Moneys standing to the credit of the Reserve”, substitute “Amounts standing to the credit of the Account”.

Note:       The heading to section 19 is altered by omitting “of moneys of Reserve” and substituting “of amounts standing to the credit of the Account”.

Australian Centre for International Agricultural Research Act 1982

84  Section 3

Insert:

Account means the account continued in existence by section 33.

85  Section 3 (definition of Reserve)

Repeal the definition.

86  Sections 33, 34 and 35

Repeal the sections, substitute:

33  Australian Centre for International Agricultural Research Account

             (1)  There is continued in existence the Australian Centre for International Agricultural Research Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

34  Credit of amounts to Account

                   There must be credited to the Account amounts equal to money from time to time received by the Centre.

Note:          An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

35  Debits from Account

                   Amounts standing to the credit of the Account may be debited for the following purposes:

                     (a)  in payment or discharge of the costs, expenses and other obligations incurred by the Centre in the performance of its functions or the exercise of its powers under this Act;

                     (b)  in payment of any remuneration and allowances payable to any person under this Act.

87  Subsection 36(1)

Omit “moneys standing to the credit of the Reserve”, substitute “amounts standing to the credit of the Account”.

88  Subsection 36(2)

Omit “Moneys shall not be expended from the Reserve”, substitute “Amounts must not be debited from the Account”.

Australian Federal Police Act 1979

89  Subsection 54(2)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

90  Subsection 54(4)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Australian Meat and Live‑stock Industry (Repeals and Consequential Provisions) Act 1997

91  Subitem 11(2) of Schedule 5

Repeal the subitem.

92  Subitem 12(4) of Schedule 5

Repeal the subitem.

93  Subitem 13(3) of Schedule 5

Repeal the subitem.

94  Item 29 of Schedule 5

Repeal the item.

Australian Radiation Protection and Nuclear Safety Act 1998

95  Section 56

Repeal the section, substitute:

56  ARPANSA Account

             (1)  There is continued in existence the ARPANSA Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

             (3)  Amounts equal to the following must be credited to the Account:

                     (a)  amounts received by the Commonwealth under the Licence Charges Act;

                     (b)  fees received by the Commonwealth under section 34;

                     (c)  amounts received by the Commonwealth in connection with the performance of the CEO’s functions under this Act or the regulations;

                     (d)  interest received by the Commonwealth from the investment of an amount standing to the credit of the Account;

                     (e)  money received by the Commonwealth in relation to property paid for after a debit of the Account in respect of an amount equal to the purchase price of the property;

                      (f)  amounts recovered by the Commonwealth under subsection 41(7), to the extent that they are referable to costs debited from the Account;

                     (g)  amounts of any gifts given or bequests made for the purposes of the Account.

Note:          An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

             (4)  The purposes of the Account are to make payments:

                     (a)  to further the object of this Act (as set out in section 3); and

                     (b)  otherwise in connection with the performance of the CEO’s functions under this Act or the regulations.

Australian Securities and Investments Commission Act 2001

96  Subsections 135(7) and 161(7)

Repeal the subsections.

Bankruptcy Act 1966

97  Section 20A

Insert:

Equalization Account means the Common Investment Fund Equalization Account continued in existence by section 20G.

98  Section 20A (definition of Equalization Reserve)

Repeal the definition.

99  Sections 20G and 20H

Repeal the sections, substitute:

20G  Common Investment Fund Equalization Account

             (1)  There is continued in existence the Common Investment Fund Equalization Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

20H  Credits to and debits from the Equalization Account

             (1)  Interest derived from the investment of money in the Common Fund must be paid to the Commonwealth.

             (2)  An amount equal to the amount of any capital profit made upon the realization of an investment made from money in the Common Fund must be paid out of the Common Fund to the Commonwealth.

             (3)  Whenever a payment is made to the Commonwealth under subsection (1) or (2), an equal amount must be credited to the Equalization Account.

             (4)  An amount equal to:

                     (a)  the amount of any capital loss incurred upon the realization of an investment made from money in the Common Fund; or

                     (b)  each amount of interest that:

                              (i)  forms part of the estate of a bankrupt or of a deceased debtor by virtue of subsection 20J(2) or (3); or

                             (ii)  forms part of a fund referred to in paragraph 20J(1)(b) by virtue of subsection 20J(2) or (3A); or

                            (iii)  is payable to a person by virtue of subsection 20J(4);

is to be debited from the Equalization Account and paid into the Common Fund.

             (5)  The Official Trustee must, at such times as it considers appropriate and, in any event, at least once every 6 months, determine whether any amounts standing to the credit of the Equalization Account are not required for the purposes of subsection (4). If the Official Trustee determines that any amounts are not so required, it may direct that the amounts not so required, or any part of those amounts, are to be debited from the Equalization Account.

             (6)  Whenever an amount required by subsection (4) to be debited from the Equalization Account exceeds the amount standing to the credit of the Equalization Account, an amount equal to the excess must be credited to the Equalization Account.

100  Section 139L (sub-subparagraph (b)(i)(A) of the definition of income)

Omit “Reserve”, substitute “Account”.

101  After subsection 153A(4)

Insert:

          (4A)  Money received by the Official Receiver under subsection (4) is received on behalf of the Commonwealth.

102  Subsection 153A(5)

Repeal the subsection, substitute:

             (5)  If money is paid to the Official Receiver under subsection (4), the provisions of subsections 254(3) and (4) apply in relation to that money as if it had been paid to the Commonwealth by a trustee under subsection 254(2).

103  Subsection 163(2)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

104  Subsection 163A(3)

Repeal the subsection, substitute:

             (3)  Money received by the Official Receiver under subsection (2) is received on behalf of the Commonwealth.

105  Subsection 252A(5)

Repeal the subsection, substitute:

          (4A)  Money received by the Official Receiver under subsection (4) is received on behalf of the Commonwealth.

             (5)  If money is paid to the Official Receiver under subsection (4), the provisions of subsections 254(3) and (4) apply in relation to that money as if it had been paid to the Commonwealth by a trustee under subsection 254(2).

106  Subsection 254(2)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Note:       The heading to section 254 is altered by omitting “into Consolidated Revenue Fund” and substituting “to the Commonwealth”.

107  Subsection 254(2A)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

108  Subsection 254(3)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Broadcasting Services Act 1992

109  Subclause 51(8) of Schedule 4

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Note:       The heading to subclause 51(8) of Schedule 4 is replaced by the heading “Payments to the Commonwealth”.

CFM Sale Act 1996

110  Subsection 48(4)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Child Support (Registration and Collection) Act 1988

111  Subsection 4(1)

Insert:

Account means the Child Support Account continued in existence by section 73.

112  Subsection 4(1) (definition of Reserve)

Repeal the definition.

113  Paragraph 53(c)

Omit “transferred to the Reserve”, substitute “credited to the Account”.

114  Division 1 of Part VI

Repeal the Division, substitute:

Division 1Child Support Account

73  Child Support Account

             (1)  There is continued in existence the Child Support Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

74  Credit of amounts to Account

             (1)  The following amounts must be credited to the Account:

                     (a)  amounts equal to amounts received by the Registrar in payment of child support debts (including amounts received from employers under paragraph 47(1)(a));

                     (b)  amounts equal to amounts received by the Registrar from payers of enforceable maintenance liabilities as voluntary payments for transmission to the payees of the liabilities;

                     (c)  amounts equal to amounts received by the Registrar in relation to amounts that persons were not entitled to have been paid in respect of a debiting from the Account.

             (2)  If the Registrar receives an amount of which only part appears to the Registrar to fall within subsection (1), the Registrar must determine, in writing, the portion of the amount falling within that subsection, and only that portion is to be credited to the Account under subsection (1).

75  Purposes of the Account

             (1)  The purposes of the Account are:

                     (a)  to make payments under subsection 76(1) to payees of registered maintenance liabilities; and

                     (b)  to make payments to the payees of enforceable maintenance liabilities of amounts received from the payers of the liabilities as voluntary payments for transmission to the payees; and

                     (c)  to repay amounts paid to the Commonwealth and credited to the Account that the Registrar was not entitled to have received under this Act.

             (2)  Amounts received from employers and payers of enforceable maintenance liabilities, in relation to cases in which amounts have been credited to the Account under section 77 or subsection 78(3), may be debited from the Account.

115  Section 77

Omit “transferred to the Reserve from the Consolidated Revenue Fund”, substitute “credited to the Account”.

116  Paragraph 78(3)(d)

Omit “transferred to the Reserve from the Consolidated Revenue Fund”, substitute “credited to the Account”.

Coal Mining Industry (Long Service Leave) Payroll Levy Collection Act 1992

117  Subsection 9(4)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Commonwealth Places (Mirror Taxes) Act 1998

118  Subsections 23(1) and (2)

Repeal the subsections, substitute:

             (1)  The Commonwealth is liable to pay to a State amounts equal to amounts received by the Commonwealth (including amounts received by a State on behalf of the Commonwealth) under an applied law of the State.

119  Subsection 23(3)

Omit “subsection (2)”, substitute “subsection (1)”.

Corporations Act 2001

120  Subsection 1341(1)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

121  Paragraph 1341(2)(d)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Crimes Act 1914

122  Paragraph 9A(c)

Omit “pay”, substitute “credit”.

123  Subsection 9B(2)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Crimes (Superannuation Benefits) Act 1989

124  Subsection 41(2)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

125  Subsection 41(4)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

CSL Sale Act 1993

126  Subsection 41(4)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Customs Act 1901

127  Paragraph 208DA(3)(a)

Omit “pay the money”, substitute “credit the amount of the money”.

128  Subparagraph 208DA(3)(b)(iii)

Omit “pay the remainder”, substitute “credit an amount equal to the remainder “.

129  Subparagraph 243G(6)(a)(ii)

Omit “pay the remainder”, substitute “credit an amount equal to the remainder”.

130  Subparagraph 243G(6)(b)(iii)

Omit “pay the remainder”, substitute “credit an amount equal to the remainder”.

131  Subsection 243G(7)

Repeal the subsection, substitute:

             (7)  Where the amounts to which subparagraph (6)(a)(ii) or (b)(iii) applies exceeds the penalty amount, the Official Trustee must:

                     (a)  credit to the Confiscated Assets Account as required by section 296 of the Proceeds of Crime Act 2002 an amount equal to the penalty amount; and

                     (b)  pay the balance to the person whose property was subject to the restraining order.

132  Subsection 243G(8)

Omit “pays, in accordance with a direction under this section, money”, substitute “credits, in accordance with a direction under this section, an amount”.

133  Subsection 243P(2)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Defence Forces Retirement Benefits Fund (Distribution of Surplus to Pensioners) Act 1976

134  Title

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Defence Service Homes Act 1918

135  Sections 40 and 40A

Repeal the sections, substitute:

40  Defence Service Homes Insurance Account

             (1)  There is continued in existence the Defence Service Homes Insurance Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

             (3)  There must be credited to the Account amounts equal to all payments to the Commonwealth in connection with its activities:

                     (a)  as an insurer under this Act, including a payment to it under a contract or arrangement referred to in section 38F; and

                     (b)  with respect to insurance, as an agent for an insurer.

             (4)  The purpose of the Account is to make all payments by the Commonwealth in connection with its activities:

                     (a)  as an insurer under this Act, including:

                              (i)  a payment by it under a contract or arrangement referred to in section 38F; and

                             (ii)  a payment by it under section 38G; and

                            (iii)  a payment by it that it is not legally required to make but that is of a kind that would be made by a person carrying on the business of insurance in accordance with sound commercial principles; and

                     (b)  with respect to insurance, as an agent for an insurer.

40A  Interest on amounts invested

             (1)  Subject to this section, there must be credited to the Defence Service Homes Insurance Account, in respect of each financial year ending after the commencement of this section, an amount, calculated in such manner as the Finance Minister determines, by way of interest on the amount standing to the credit of the Account during that year, whether that amount has been invested by the Finance Minister or not.

             (2)  If interest is received by the Commonwealth from the investment of an amount standing to the credit of the Defence Service Homes Insurance Account, an amount equal to the interest must be credited to the Account.

             (3)  In this section:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

Financial Agreement Act 1994

136  Section 6

Repeal the section, substitute:

6  Debt Retirement Reserve Trust Account

             (1)  There is continued in existence the Debt Retirement Reserve Trust Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

             (3)  The purpose of the Account is to make payments in accordance with the 1994 Financial Agreement.

             (4)  There must be credited to the Account amounts equal to all money received by the Commonwealth under the 1994 Financial Agreement.

Financial Institutions Supervisory Levies Collection Act 1998

137  Subsection 11(2)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

138  Section 24

Repeal the section, substitute:

24  How payments of levy and late payment penalty and repayments of financial assistance are to be applied

             (1)  If a levy is imposed as a result of a determination by the Minister to make a grant of financial assistance not from the Account, then the following amounts must be paid to the Commonwealth and not credited to the Account:

                     (a)  any amounts of that levy, and of late payment penalty in respect of that levy, that are received by the Minister; and

                     (b)  any repayments of that financial assistance.

             (2)  If a levy is imposed as a result of a determination by the Minister to make a grant of financial assistance from the Account, then the following amounts must be paid to the Commonwealth and credited to the Account:

                     (a)  amounts equal to any amounts of that levy, and of late payment penalty in respect of that levy, that are received by the Minister; and

                     (b)  amounts equal to any repayments of that financial assistance.

Financial Management and Accountability Act 1997

139  Subsection 20(1)

Repeal the subsection, substitute:

             (1)  The Finance Minister may make a written determination that does all of the following:

                     (a)  establishes a Special Account;

                     (b)  allows or requires amounts to be credited to the Special Account;

                     (c)  specifies the purposes for which amounts are allowed or required to be debited from the Special Account.

          (1A)  A determination under subsection (1) may specify that an amount may or must be debited from a Special Account established under subsection (1) otherwise than in relation to the making of a real or notional payment.

140  At the end of subsection 20(4)

Add:

Note:          An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

141  After subsection 20(4)

Insert:

          (4A)  If the Finance Minister makes a determination that allows an amount standing to the credit of a Special Account to be expended in making payments for a particular purpose, then, unless the contrary intention appears, the amount may also be applied in making notional payments for that purpose.

Note:          This subsection applies to transactions that do not actually involve payments because the parties to the transaction are merely parts of the Commonwealth or acting as agents for the Commonwealth. For example, Agency 1 “pays” Agency 2 for services provided by Agency 2.

142  Subsection 21(1) (note)

Repeal the note, substitute:

Note 1:       An Act that establishes a Special Account will identify the amounts that are to be credited to the Special Account.

143  At the end of subsection 21(1)

Add:

Note 2:       An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

144  After subsection 21(1)

Insert:

          (1A)  If an Act allows an amount standing to the credit of a Special Account to be applied, debited, paid or otherwise used for a particular purpose, then, unless the contrary intention appears, the amount may also be applied, paid or otherwise used in making a notional payment for that purpose.

Note:          This subsection applies to transactions that do not actually involve payments because the parties to the transaction are merely parts of the Commonwealth or acting as agents for the Commonwealth. For example, Agency 1 “pays” Agency 2 for services provided by Agency 2.

Forestry and Timber Bureau Act 1930

145  Section 5

Repeal the section, substitute:

5  Forestry Account

             (1)  There is continued in existence the Forestry Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

             (3)  There must be credited to the Account:

                     (a)  amounts equal to donations for the furtherance of forestry that are received by the Director‑General or are otherwise received by or on behalf of the Commonwealth; and

                     (b)  amounts to be credited to the Account under any law.

Note:          An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

             (4)  An amount standing to the credit of the Account may be applied, in a manner approved by the Minister, for the furtherance of forestry.

             (5)  If interest is received by the Commonwealth from the investment of an amount standing to the credit of the Account, an amount equal to the interest must be credited to the Account.

Great Barrier Reef Marine Park Act 1975

146  Subsection 39I(1)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

147  Subsection 39I(2)

Repeal the subsection, substitute:

             (2)  If an amount (Commonwealth amount) is paid to the Commonwealth under subsection (1), an amount equal to the Commonwealth amount must be paid to the Authority.

148  Subsection 39I(3)

Omit “CRF amount” (wherever occurring), substitute “Commonwealth amount”.

149  Subsection 39I(4)

Omit “CRF amount”, substitute “Commonwealth amount”.

Higher Education Funding Act 1988

150  Subsection 34(1)

Insert:

Account means the Higher Education (HECS) Account continued in existence by section 59.

151  Subsection 34(1) (definition of Reserve)

Repeal the definition.

152  Part 4.3 of Chapter 4 (heading)

Repeal the heading, substitute:

Part 4.3Higher Education (HECS) Account

153  Sections 59 and 60

Repeal the sections, substitute:

59  Higher Education Account

             (1)  There is continued in existence the Higher Education (HECS) Account. The purpose of the Account is to make payments under section 61.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

60  Credit of amounts to Account

                   There must be credited to the Account amounts equal to the following:

                     (a)  money paid to the Commonwealth under this Chapter, Chapter 4A, 4B or 5A, otherwise than:

                              (i)  in discharge of an HEC assessment debt; or

                             (ii)  by virtue of the operation of section 106U;

                     (b)  amounts payable in respect of HEC assessment debts;

                     (c)  amounts necessary to enable payments to be debited from the Account under section 61;

                     (d)  money paid by any person to the Commonwealth for the purposes of the Account;

                     (e)  interest from the investment of an amount standing to the credit of the Account.

154  Subsection 61(1)

Omit “Money in the Reserve”, substitute “Amounts standing to the credit of the Account”.

Note        The heading to section 61 is altered by omitting “Reserve” and substituting “an amount standing to the credit of the Account”.

155  Section 116

Repeal the section, substitute:

116  Application of money borrowed

                   Money borrowed under section 115 must be issued and applied only for the expenses of borrowing and for the purpose of making payments to institutions in accordance with section 27A.

Income Tax Assessment Act 1936

156  Subsection 128U(1)

Insert:

Aboriginals Benefit Account means the Aboriginals Benefit Account continued in existence by section 62 of the Aboriginal Land Rights (Northern Territory) Act 1976.

157  Subsection 128U(1) (definition of Aboriginals Benefit Reserve)

Repeal the definition.

158  Subsection 128U(1) (paragraph (a) of the definition of mining payment)

Repeal the paragraph, substitute:

                     (a)  a payment made on or after 1 July 1979 and before the day that the Financial Management Legislation Amendment Act 1999 commenced, out of the Aboriginals Benefit Reserve to the extent that the payment represents money paid into the Aboriginals Benefit Reserve on or after 1 July 1979 in pursuance of subsection 63(2) or (4) of the Aboriginal Land Rights (Northern Territory) Act 1976; and

                    (aa)  a payment made on or after the day that the Financial Management Legislation Amendment Act 1999 commenced by the Commonwealth in respect of a debit from the Aboriginals Benefit Account to the extent that the payment represents an amount credited to the Aboriginals Benefit Account in pursuance of subsection 63(1) or (4) of the Aboriginal Land Rights (Northern Territory) Act 1976; and

Industrial Chemicals (Notification and Assessment) Act 1989

159  Paragraphs 100B(1)(f), (g), (h) and (j)

Omit “money from the Account”, substitute “amounts standing to the credit of the Account”.

International Monetary Agreements Act 1947

160  Section 9

Repeal the section.

Interstate Road Transport Act 1985

161  Subsection 3(1)

Insert:

Account means the Interstate Road Transport Account continued in existence by section 21.

162  Subsection 3(1) (definition of Reserve)

Repeal the definition.

163  Part IV (heading)

Repeal the heading, substitute:

Part IVInterstate Road Transport Account

164  Sections 21 and 22

Repeal the sections, substitute:

21  Interstate Road Transport Account

             (1)  There is continued in existence the Interstate Road Transport Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

             (3)  If interest is received by the Commonwealth from the investment of an amount standing to the credit of the Account, an amount equal to the amount of the interest must be credited to the Account.

22  Amounts to be credited to Account

             (1)  There must be credited to the Account amounts equal to the amounts received by the Commonwealth as charge and advances on account of charge.

             (2)  There must be credited to the Account amounts equal to amounts received by the Commonwealth by way of the repayment of amounts paid in accordance with a determination under subsection 23(1).

165  Subsection 23(1)

Omit “shall be paid out of the Reserve”, substitute “is to be debited from the Account and paid by the Commonwealth”.

Note:       The heading to section 23 is replaced by the heading “Amounts to be debited from the Account”.

166  Subsection 23(4)

Omit “out of the Reserve shall”, substitute “under this Act must”.

Lands Acquisition Act 1989

167  Section 6

Insert:

Account means the Lands Acquisition Account continued in existence by section 89A.

168  Section 6 (definition of Reserve)

Repeal the definition.

169  Section 89A

Repeal the section, substitute:

89A  Lands Acquisition Account

             (1)  There is continued in existence the Lands Acquisition Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

170  Subsections 90(2) to (5)

Repeal the subsections, substitute:

             (2)  The Minister may direct that an amount equal to the compensation be credited to the Account.

             (3)  The Minister may pay rates, taxes or similar amounts charged on the land and due at the time of the acquisition and must deduct the amount of the payment from the amount of compensation that would otherwise be credited to the Account.

             (4)  On crediting the Account with the amount calculated under subsection (3), the compensation must, for the purposes of sections 91 and 92, be taken to have been paid to the person.

             (5)  If the person rectifies the default or delay referred to in subsection (1), the Commonwealth must pay the person an amount equal to the amount credited to the Account and debit the Account accordingly.

Note:       The heading to section 90 is replaced by the heading “Crediting of amounts of compensation to the Account”.

171  Subsections 114(2) to (4)

Repeal the subsections, substitute:

             (2)  The Minister may direct that an amount equal to the compensation be credited to the Account.

             (3)  On crediting the Account with the compensation, the compensation must, for the purposes of section 115, be taken to have been paid to the person.

             (4)  If the person rectifies the default or delay referred to in subsection (1), the Commonwealth must pay the person an amount equal to the amount credited to the Account and debit the Account accordingly.

Note:       The heading to section 114 is replaced by the heading “Crediting of amounts of compensation to the Account”.

Moomba‑Sydney Pipeline System Sale Act 1994

172  Subsection 50(3)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

National Blood Authority Act 2003

173  Paragraphs 41(d) and (e)

Omit “money from the Account”, substitute “amounts standing to the credit of the Account”.

National Cattle Disease Eradication Reserve Act 1991

174  Title

Omit “Reserve”, substitute “Account”.

175  Section 1

Omit “Reserve”, substitute “Account”.

176  Section 3

Insert:

Account means the National Cattle Disease Eradication Account continued in existence by section 4.

177  Section 3

Insert:

Account’s component of charge has the meaning given by section 4A.

178  Section 3

Insert:

Account’s component of levy has the meaning given by section 4B.

179  Section 3 (definition of Reserve)

Repeal the definition.

180  Section 3 (definition of Reserve’s component of charge)

Repeal the definition.

181  Section 3 (definition of Reserve’s component of levy)

Repeal the definition.

182  Section 4

Repeal the section, substitute:

4  National Cattle Disease Eradication Account

             (1)  There is continued in existence the National Cattle Disease Eradication Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

183  Section 4A

Omit “Reserve’s”, substitute “Account’s”.

Note:       The heading to section 4A is altered by omitting “Reserve’s” and substituting “Account’s”.

184  Section 4B

Omit “Reserve’s”, substitute “Account’s”.

Note:       The heading to section 4B is altered by omitting “Reserve’s” and substituting “Account’s”.

185  Subsection 5(1)

Omit “paid into”, substitute “credited to”.

186  Paragraphs 5(1)(aaa) and (aab)

Omit “Reserve’s”, substitute “Account’s”.

Note:       The heading to section 5 is replaced by the heading “Credit of amounts to Account”.

187  Paragraph 5(1)(c)

Repeal the paragraph.

188  Paragraph 5(1)(d)

Omit “money from the Reserve”, substitute “an amount standing to the credit of the Account”.

189  At the end of subsection 5(1)

Add:

Note:          An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

190  Section 6

Repeal the section, substitute:

6  Application of National Cattle Disease Eradication Account

             (1)  The amount standing to the credit of the Account may, with the approval of the Minister, be debited for the following purposes:

                     (a)  making payments to the States, and in meeting costs incurred by the Commonwealth, for the purpose of the eradication of any disease of cattle that is endemic in Australia;

                     (b)  making payments in respect of any expenses connected with the eradication of any disease of cattle that is endemic in Australia that have been paid by the Commonwealth and have not been debited from the Account.

             (2)  An amount that has been credited to the Account under an Appropriation Act, may be debited from the Account.

National Health and Medical Research Council Act 1992

191  Section 4

Insert:

Account means the Medical Research Endowment Account continued in existence by section 49.

192  Section 4 (definition of Reserve)

Repeal the definition.

193  Paragraph 7(1)(c)

Omit “Reserve”, substitute “Account”.

194  Section 11A

Omit “Reserve”, substitute “Account”.

195  Paragraphs 35(2)(a) and (b)

Omit “Reserve”, substitute “Account”.

196  Part 7 (heading)

Repeal the heading, substitute:

Part 7Medical Research Endowment Account

197  Sections 49 and 50

Repeal the sections, substitute:

49  Medical Research Endowment Account

             (1)  There is continued in existence the Medical Research Endowment Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

             (3)  If interest is received by the Commonwealth from the investment of an amount standing to the credit of the Account, an amount equal to the interest must be credited to the Account.

50  Credit of amounts to Account

                   There must be credited to the Account amounts equal to amounts that are given or bequeathed for the purposes of the Account.

Note:          An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

198  Subsection 51(1)

Omit “Reserve”, substitute “Account”.

Note:       The heading to section 51 is altered by omitting “Reserve” and substituting “Account”.

199  Paragraphs 52(1)(a) and (b)

Omit “Reserve”, substitute “Account”.

200  Subsection 52(2)

Omit “Reserve”, substitute “Account”.

201  Section 53

Omit “transferred to the Reserve from the Consolidated Revenue Fund”, substitute “credited to the Account”.

National Residue Survey Administration Act 1992

202  Title

Omit “a Reserve”, substitute “a Special Account”.

203  Section 4

Insert:

Account means the National Residue Survey Account continued in existence by section 6.

204  Section 4 (definition of Reserve)

Repeal the definition.

205  Sections 6, 7 and 8

Repeal the sections, substitute:

6  National Residue Survey Account

             (1)  There is continued in existence the National Residue Survey Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

7  Credit of amounts to National Residue Survey Account

                   There must be credited to the Account:

                     (a)  amounts appropriated by Parliament for the purposes of the National Residue Survey; and

                     (b)  in respect of each amount of National Residue Survey Levy collected by or on behalf of the Commonwealth—an amount equal to that amount of levy; and

                     (c)  in respect of each amount of penalty collected by or on behalf of the Commonwealth in connection with National Residue Survey Levy—an amount equal to that amount of penalty; and

                     (d)  amounts equal to amounts paid to the Commonwealth for the purposes of the National Residue Survey or the Account; and

                     (e)  amounts equal to income from the investment of an amount standing to the credit of the Account.

Note:          An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

8  Debits from Account

             (1)  Amounts standing to the credit of the Account may be debited for the following purposes:

                     (a)  making payments, in accordance with an expenditure program approved by the Minister, for purposes related to:

                              (i)  the monitoring and reporting of the level of contaminants in applicable products; and

                             (ii)  if the relevant body (as determined by the Minister) in the industry concerned agrees to the program extending to expenditure under this subparagraph—the testing, either on a random basis or in specific cases, of applicable products or the environment for the purpose of tracing the sources of contaminants and determining the causes of contamination; and

                            (iii)  if the relevant body (as determined by the Minister) in the industry concerned agrees to the program extending to expenditure under this subparagraph—the testing and reporting of the level of contaminants in applicable products or the environment, and any associated activities, for the purpose of investigating the potential sources, and determining the potential causes, of such contaminants; and

                            (iv)  if the relevant body (as determined by the Minister) in the industry concerned agrees to the program extending to expenditure under this subparagraph—the prevention of contamination in, and the management of risks associated with, contamination of applicable products;

                     (b)  if an amount that was credited to the Account was given by a person or body to the Commonwealth for a particular purpose but has not been fully spent for that purpose—repaying the unspent amount to the person or body.

             (2)  Amounts may be debited from the Account equal to expenditure incurred by the Commonwealth in relation to:

                     (a)  the collection and recovery of amounts referred to in paragraph 7(b) or (c); or

                     (b)  the administration of paragraph 7(b) or (c); or

                     (c)  the carrying out of any activities of kinds referred to in paragraph (1)(a) or any related activities.

             (3)  An amount that has been credited to the Account under an Appropriation Act may be debited from the Account.

             (4)  Without limiting the generality of subsection (2), the reference in that subsection to expenditure incurred includes a reference to:

                     (a)  remuneration and allowances paid to staff; and

                     (b)  other expenditure incurred in relation to the provision of staff or the provision of the services of staff; and

                     (c)  expenditure incurred in relation to surveys conducted for the purpose of monitoring the level of contaminants; and

                     (d)  expenditure incurred in relation to the provision of accommodation or administrative support.

206  Section 10

Repeal the section, substitute:

10  Report by Minister

                   As soon as practicable after the end of each financial year, the Minister is to cause a report to be laid before each House of the Parliament setting out details of the operation of the Account including:

                     (a)  amounts credited to the Account during that financial year; and

                     (b)  amounts debited from the Account during that financial year; and

                     (c)  financial statements relating to the Account for that financial year; and

                     (d)  a description of activities undertaken in relation to the National Residue Survey during that financial year.

207  Subsection 11(1)

Repeal the subsection, substitute:

             (1)  Subject to subsection (2), information collected under activities referred to in section 8 using amounts debited from the Account that identifies a particular person may not be released to any other person.

Native Title Act 1993

208  Part 12 (heading)

Repeal the heading, substitute:

Part 12Parliamentary Joint Committee on Native Title and the Land Account

209  Subsection 204(1)

Omit “Land Fund”, substitute “Land Account”.

210  Subparagraph 206(d)(vii)

Omit “Land Fund”, substitute “Land Account”.

Natural Heritage Trust of Australia Act 1997

211  Title

Omit “Reserve”, substitute “Account”.

212  Preamble

Omit “Natural Heritage Trust of Australia Reserve”, substitute “Natural Heritage Trust of Australia Account”.

213  Section 3 (simplified outline)

Omit “Australia Reserve”, substitute “Australia Account”.

214  Section 3 (simplified outline)

Omit “for the Reserve”, substitute “for the Account”.

215  Section 3 (simplified outline)

Omit “of the Reserve”, substitute “of the Account”.

216  Section 3 (simplified outline)

Omit “Money in the Reserve”, substitute “Amounts standing to the credit of the Account”.

217  Part 2 (heading)

Repeal the heading, substitute:

Part 2The Natural Heritage Trust of Australia Account

218  Sections 4 and 5

Repeal the sections, substitute:

4  Natural Heritage Trust of Australia Account

                   There is continued in existence the Natural Heritage Trust of Australia Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

5  Nature of the Account

                   The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

219  Subsections 6(1) and (2)

Repeal the subsections, substitute:

Investments

             (1)  Amounts equal to income derived from the investment of an amount standing to the credit of the Account are to be credited to the Account.

Note:          An amount standing to the credit of the Account may be invested in accordance with the Financial Management and Accountability Act 1997.

Fixed income—uninvested amounts

             (2)  Within 28 days after the end of a financial year, there is to be credited to the Account, in respect of the financial year, an amount equal to the fixed‑income percentage of the uninvested amount standing to the credit of the Account as at the end of the financial year.

Note:       The heading to section 6 is altered by omitting “Reserve” and substituting “Account”.

220  Subsection 6(3)

Omit “Minister for Finance” (wherever occurring), substitute “Finance Minister”.

221  Subsections 6(4), (5) and (6)

Repeal the subsections, substitute:

Advances on account of fixed income

             (4)  During a financial year, the Finance Minister may, by written instrument, determine that a specified amount is to be credited to the Account by way of an advance on account of the amount that may be credited to the Account under subsection (2) in respect of the financial year. The determination has effect accordingly.

             (5)  For each $1 credited under subsection (4) in respect of a financial year, the amount credited under subsection (2) in respect of the financial year is to be reduced by $1.

             (6)  If, at the end of a financial year:

                     (a)  the total amount credited to the Account under subsection (4) in respect of the financial year;

exceeds:

                     (b)  the amount (if any) that would have been credited to the Account under subsection (2) in respect of the financial year if it were assumed that no amounts had been credited under subsection (4) in respect of the financial year;

an amount equal to the excess must be debited from the Account.

             (7)  In this section:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

222  Section 7

Repeal the section, substitute:

7  Amounts not held on trust

                   Amounts standing to the credit of the Account and amounts invested by debiting the Account are not held on trust (within the ordinary meaning of that expression).

223  Part 3 (heading)

Repeal the heading, substitute:

Part 3Purposes of the Account

224  Section 8

Repeal the section, substitute:

8  Purposes of the Account

                   The purposes of the Account are as follows:

                     (a)  the National Vegetation Initiative;

                     (b)  the Murray‑Darling 2001 Project;

                     (c)  the National Land and Water Resources Audit;

                     (d)  the National Reserve System;

                     (e)  the Coasts and Clean Seas Initiative;

                      (f)  environmental protection (as defined by section 15);

                     (g)  supporting sustainable agriculture (as defined by section 16);

                     (h)  natural resources management (as defined by section 17);

                      (i)  a purpose incidental or ancillary to any of the above purposes;

                      (j)  the making of grants of financial assistance for any of the above purposes;

                     (k)  an accounting transfer purpose (as defined by section 18).

225  Subsection 9(1)

Omit “Money in the Reserve”, substitute “Amounts standing to the credit of the Account”.

Note:       The heading to section 9 is altered by omitting “Trust” and substituting “Account”.

226  Subsection 9(2)

Repeal the subsection, substitute:

             (2)  An amount standing to the credit of the Account that represents interest earned on an amount standing to the credit of the Account may be applied for any purpose of the Account.

227  Paragraphs 18(b) and (c)

Repeal the paragraphs, substitute:

                     (b)  crediting amounts to the Natural Resources Management Account continued in existence under subsection 11(1) of the Natural Resources Management (Financial Assistance) Act 1992;

228  Subsections 19(1) and 20(1)

Omit “Reserve”, substitute “Account”.

229  Subsection 21(1)

Omit “money in the Reserve for a purpose of the Reserve”, substitute “an amount standing to the credit of the Account for a purpose of the Account”.

230  Part 4 (heading)

Repeal the heading, substitute:

Part 4Crediting of amounts to the Account

231  Subsection 22(1)

Omit “transferred to the Reserve from the Consolidated Revenue Fund”, substitute “credited to the Account”.

232  Subsection 22(2)

Omit “transferred to the Reserve”, substitute “credited to the Account”.

233  Subsection 22A(1)

Omit “transferred to the Reserve from the Consolidated Revenue Fund”, substitute “credited to the Account”.

234  Subsection 22A(2)

Omit “transferred to the Reserve”, substitute “credited to the Account”.

235  Subsections 23(1) and (2)

Omit “Reserve”, substitute “Account”.

236  Sections 24, 25, 26, 27, 28 and 29

Repeal the sections, substitute:

24  Gifts and bequests

             (1)  This section applies if a gift or bequest is given or made for the purposes of the Account.

             (2)  An amount equal to the amount of the gift or bequest is to be credited to the Account.

25  Repayments of grants

             (1)  This section applies if:

                     (a)  an amount standing to the credit of the Account is debited and paid by the Commonwealth in making a grant of financial assistance; and

                     (b)  the grant is repaid, in whole or in part.

             (2)  An amount equal to the repayment is to be credited to the Account.

26  Commonwealth receipts under funding agreements

             (1)  This section applies if:

                     (a)  the Commonwealth enters into an agreement with a person or body in relation to the spending of amounts debited from the Account and paid by the Commonwealth; and

                     (b)  the agreement contains a provision requiring an amount to be paid or repaid to the Commonwealth in specified circumstances; and

                     (c)  the Commonwealth receives money under the agreement.

             (2)  An amount equal to the receipt is to be credited to the Account.

27  Income from assets acquired using amounts credited to the Account

             (1)  This section applies if:

                     (a)  an amount standing to the credit of the Account is debited and paid by the Commonwealth in acquiring property or interests; and

                     (b)  an amount is received by the Commonwealth by way of income derived from the property or interests.

             (2)  An amount equal to the receipt is to be credited to the Account.

28  Proceeds of disposal of assets acquired using amounts credited to the Account

             (1)  This section applies if:

                     (a)  an amount standing to the credit of the Account is debited and paid by the Commonwealth in acquiring property or interests; and

                     (b)  an amount is received by the Commonwealth from the disposal of the property or interests.

             (2)  An amount equal to the receipt is to be credited to the Account.

29  Income from projects and related activities funded with amounts credited to the Account

             (1)  This section applies if:

                     (a)  an amount standing to the credit of the Account is debited and paid by the Commonwealth in carrying out a project; and

                     (b)  income is received by the Commonwealth from the project or from activities carried out in relation to the project.

             (2)  An amount equal to the receipt is to be credited to the Account.

237  Paragraph 31(b)

Omit “Reserve”, substitute “Account”.

238  Paragraph 40(2)(a)

Omit “Reserve”, substitute “Account”.

239  Subsection 40(3)

Repeal the subsection, substitute:

             (3)  For the purposes of this section, each of the following decisions is taken to be a matter that relates to the Account:

                     (a)  a decision about a proposal to spend an amount standing to the credit of the Account;

                     (b)  a decision relating to the investment of an amount standing to the credit of the Account;

                     (c)  a decision to make a recommendation to the Governor‑General about the making of regulations under this Act;

                     (d)  a decision under this Act;

                     (e)  a decision under any other law of the Commonwealth, to the extent that the law relates to the Account.

240  Subsection 41(1)

Omit “Reserve” (wherever occurring), substitute “Account”.

241  Paragraph 41(3)(a)

Omit “Reserve”, substitute “Account”.

242  Subsection 41(4)

Omit “Reserve”, substitute “Account”.

243  Subsection 42(2)

Omit “Reserve”, substitute “Account”.

Note:       The heading to section 42 is altered by omitting “Reserve” and substituting “Account”.

244  Paragraph 43(1)(a)

Omit “Reserve”, substitute “Account”.

Note 1:    The heading to section 43 is altered by omitting “Reserve” and substituting “Account”.

Note 2:    The heading to section 44 is altered by omitting “Reserve” and substituting “Account”.

245  Paragraph 45(1)(e)

Omit “Reserve”, substitute “Account”.

246  Paragraph 46(1)(d)

Omit “Reserve”, substitute “Account”.

247  Subsection 47(1)

Omit “Reserve” (wherever occurring), substitute “Account”.

248  Paragraph 47(2)(a)

Omit “Reserve”, substitute “Account”.

249  Section 48

Repeal the section.

250  Subsection 49(1)

Omit “money debited from the Reserve”, substitute “an amount debited from the Account”.

251  Subsections 49(2) and (3)

Repeal the subsections, substitute:

             (2)  A reference in paragraph 11(4)(a) of the Natural Resources Management (Financial Assistance) Act 1992 to amounts appropriated from time to time by the Parliament includes a reference to an amount debited from the Account in accordance with paragraphs 8(k) and 18(b) of this Act.

252  Subsections 49(4) and (5)

Omit “money debited from the Reserve”, substitute “an amount debited from the Account”.

253  Sections 51 and 52

Repeal the sections.

254  Section 54

Insert:

Account means the Natural Heritage Trust of Australia Account continued in existence by section 4.

255  Section 54 (definition of Reserve)

Repeal the definition.

Natural Resources Management (Financial Assistance) Act 1992

256  Title

Omit “Reserve”, substitute “Account”.

257  Subsection 4(1)

Insert:

Account means the Natural Resources Management Account continued in existence by section 11.

258  Subsection 4(1) (definition of Reserve)

Repeal the definition.

259  Subsection 6(5)

Omit “Reserve”, substitute “Account”.

260  Part 3 (heading)

Repeal the heading, substitute:

Part 3Natural Resources Management Account

261  Section 11

Repeal the section, substitute:

11  Natural Resources Management Account

             (1)  There is continued in existence the Natural Resources Management Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

             (3)  If interest is received by the Commonwealth from the investment of an amount standing to the credit of the Account, an amount equal to the interest must be credited to the Account.

             (4)  There must be credited to the Account amounts equal to the following:

                     (a)  amounts, being gifts or bequests, given or made for the purposes of the Account;

                     (b)  amounts paid or repaid to the Commonwealth in accordance with:

                              (i)  an agreement under section 6 of the Soil Conservation (Financial Assistance) Act 1985 that has effect under section 25; or

                             (ii)  an agreement under section 6;

                     (c)  amounts received by the Commonwealth from the disposal of property or interests acquired by the Commonwealth in accordance with an agreement under section 6.

Note:          An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

             (5)  Amounts are to be debited from the Account for the following purposes:

                     (a)  making payments (including advances) in accordance with:

                              (i)  an agreement under section 6 of the Soil Conservation (Financial Assistance) Act 1985 that has effect under section 25; or

                             (ii)  an agreement under section 6;

                     (b)  making payments in respect of the expenses incurred by the Council in the performance of its functions;

                     (c)  making payments in respect of other costs of administration of this Act that the Minister considers appropriate to be debited from the Account.

262  Paragraphs 12(1)(a) and (b)

Omit “Reserve”, substitute “Account”.

263  Subsection 12(2)

Omit “Reserve”, substitute “Account”.

Navigation Act 1912

264  Subsection 148D(3)

Omit “Consolidated Revenue Fund”, substitute “Commonwealth”.

265  Section 159

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

266  Section 309

Omit “Consolidated Revenue Fund”, substitute “Commonwealth”.

267  Subsection 407(1)

Omit “Consolidated Revenue Fund”, substitute “Commonwealth”.

Petroleum (Submerged Lands) Act 1967

268  Paragraph 150YO(a)

Repeal the paragraph.

269  At the end of section 150YO

Add:

Note:          An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

Primary Industries (Customs) Charges Act 1999

270  Clause 2 of Schedule 1 (note 2)

Omit “Reserve”, substitute “Account”.

271  Clause 2 of Schedule 1 (note 2)

Omit “Reserve”, substitute “Account”.

272  Subclause 3(1) of Schedule 3 (note 3)

Omit “Reserve”, substitute “Account”.

273  Subclause 3(1) of Schedule 3 (note 3)

Omit “Reserve”, substitute “Account”.

274  Subclause 3(2) of Schedule 3 (note 3)

Omit “Reserve”, substitute “Account”.

275  Subclause 3(2) of Schedule 3 (note 3)

Omit “Reserve”, substitute “Account”.

Primary Industries (Excise) Levies Act 1999

276  Clause 2 of Schedule 2 (note 2)

Omit “Reserve”, substitute “Account”.

277  Clause 2 of Schedule 2 (note 2)

Omit “Reserve”, substitute “Account”.

278  Subclause 6(1) of Schedule 3 (note 3)

Omit “Reserve”, substitute “Account”.

279  Subclause 6(1) of Schedule 3 (note 3)

Omit “Reserve”, substitute “Account”.

280  Subclause 6(2) of Schedule 3 (note 3)

Omit “Reserve”, substitute “Account”.

281  Subclause 6(2) of Schedule 3 (note 3)

Omit “Reserve”, substitute “Account”.

282  Subclause 6(3) of Schedule 3 (note 3)

Omit “Reserve”, substitute “Account”.

283  Subclause 6(3) of Schedule 3 (note 3)

Omit “Reserve”, substitute “Account”.

Proceeds of Crime Act 1987

284  Subsection 4(1)

Insert:

Confiscated Assets Special Account means the Account continued in existence under section 34A.

285  Subsection 4(1) (definition of distributable funds)

Omit “money in the Reserve”, substitute “amounts standing to the credit of the Confiscated Assets Special Account”.

286  Subsection 4(1) (definition of Reserve)

Repeal the definition.

287  Subsection 4(1) (definition of suspended funds)

Omit “money in the Reserve”, substitute “amounts standing to the credit of the Confiscated Assets Special Account”.

288  Subparagraph 20(3)(b)(i)

Omit “pay the remainder of the money to the Reserve”, substitute “credit the amount of the remainder of the money to the Confiscated Assets Special Account”.

289  Subparagraph 20(3)(b)(ii)

Omit “pay the remainder of those proceeds to the Reserve”, substitute “credit the amount of the remainder of those proceeds to the Confiscated Assets Special Account”.

290  Subparagraph 30(4)(b)(i)

Omit “pay the remainder of the money to the Reserve”, substitute “credit the amount of the remainder of the money to the Confiscated Assets Special Account”.

291  Subparagraph 30(4)(b)(ii)

Omit “pay the remainder of those proceeds to the Reserve”, substitute “credit the amount of the remainder of those proceeds to the Confiscated Assets Special Account”.

292  Part IIA (heading)

Repeal the heading, substitute:

Part IIAConfiscated Assets Special Account

293  Section 34A

Repeal the section, substitute:

34A  Confiscated Assets Special Account

             (1)  The Confiscated Assets Account established by Part IIA of this Act is continued in existence as the Confiscated Assets Special Account.

Note:          The Confiscated Assets Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

294  Subsection 34B(1)

Omit “transferred to the Reserve from the Consolidated Revenue Fund”, substitute “credited to the Confiscated Assets Special Account”.

Note:       The heading to section 34B is replaced by the heading “Credits to Confiscated Assets Special Account”.

295  Paragraph 34B(1)(d)

Omit “paid into the Reserve”, substitute “credited to the Confiscated Assets Special Account”.

296  Subsections 34B(2) and (3)

Repeal the subsections, substitute:

             (2)  Subject to section 34E, all amounts credited to the Confiscated Assets Special Account are to be identified in accordance with the regulations as distributable funds or suspended funds.

297  Subsection 34C(1)

Repeal the subsection, substitute:

             (1)  The purposes of the Confiscated Assets Special Account are:

                     (a)  to the extent to which it comprises suspended funds:

                              (i)  making such payments, if any, to States or to foreign countries as the Attorney‑General considers are appropriate under the equitable sharing program; and

                             (ii)  making such payments as the Attorney‑General considers necessary to satisfy the Commonwealth’s obligations in respect of a registered foreign forfeiture order, an order registered under section 45 of the International War Crimes Tribunals Act 1995 or a registered foreign pecuniary penalty order; and

                            (iii)  making such payments to a State as the Attorney‑General considers necessary following a credit to the Account under paragraph 34B(1)(b) of money received from a foreign country; and

                            (iv)  paying the prescribed annual management fee in accordance with the regulations; and

                             (v)  making such payments by way of restitution as are required under subparagraph 21(6)(d)(ii), paragraph 22(4)(b) or subparagraph 31(6)(d)(ii); and

                     (b)  to the extent to which it comprises distributable funds—making payments to a GBE of any proceeds of confiscated assets that relate to a relevant offence that caused financial loss to the GBE.

Note:       The heading to section 34C is replaced by the heading “Debits from the Confiscated Assets Special Account”.

298  Subsection 34D(2)

Repeal the subsection, substitute:

             (2)  As soon as practicable after the making of the determination, that amount must be debited from the balance of distributable funds standing to the credit of the Confiscated Assets Special Account.

Note:       The heading to section 34D is replaced by the heading “Debiting balance of distributable funds standing to the credit of Confiscated Assets Special Account”.

299  Subsection 34E(1)

Omit “in the Reserve”, substitute “standing to the credit of the Confiscated Assets Special Account”.

300  Subparagraph 49(6)(a)(ii)

Omit “pay the remainder of the money to the Reserve”, substitute “credit the amount of the remainder of the money to the Confiscated Assets Special Account”.

301  Subparagraph 49(6)(b)(iii)

Omit “pay the remainder of those proceeds to the Reserve”, substitute “credit the amount of the remainder of those proceeds to the Confiscated Assets Special Account”.

302  Paragraph 49(7)(a)

Omit “pay to the Reserve”, substitute “credit to the Confiscated Assets Special Account”.

303  Subsection 49(8)

Omit “pays, in accordance with a direction under this section, money to the Reserve”, substitute “credits, in accordance with a direction under this section, an amount to the Confiscated Assets Special Account”.

304  Subsection 55(2)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

305  Subparagraph 63(4)(a)(ii)

Omit “pay the remainder of the money to the Reserve”, substitute “credit the amount of the remainder of the money to the Confiscated Assets Special Account”.

306  Subparagraph 63(4)(b)(iii)

Omit “pay the remainder of those proceeds to the Reserve”, substitute “credit the amount of the remainder of those proceeds to the Confiscated Assets Special Account”.

307  Paragraph 63(5)(a)

Omit “pay to the Reserve”, substitute “credit to the Confiscated Assets Special Account”.

308  Subsection 63(6)

Omit “pays, in accordance with an order under subsection (1), money to the Reserve”, substitute “credits, in accordance with an order under subsection (1), an amount to the Confiscated Assets Special Account”.

Proceeds of Crime Act 2002

309  Subsection 288(2)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

310  Subsection 297(2)

Omit “are funds in”, substitute “are amounts credited to”.

311  Subsection 299(1)

Omit “funds in the”, substitute “funds credited to the”.

312  Subsection 299(7)

Omit “funds in the”, substitute “amounts credited to the”.

Protection of Movable Cultural Heritage Act 1986

313  Subsection 25A(1)

Repeal the subsection.

314  At the end of subsection 25A(2)

Add:

Note:          An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

Protection of the Sea (Oil Pollution Compensation Fund) Act 1993

315  Subsection 40(1)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

316  Subsections 40(2) and (3)

Repeal the subsections, substitute:

             (2)  If an amount is paid to the Commonwealth under subsection (1), the Commonwealth must pay to the 1992 Fund an amount equal to that amount.

             (3)  A payment of an amount to the 1992 Fund under subsection (2) is subject to the condition that, if the Commonwealth becomes liable to refund the whole or part of that amount, the 1992 Fund must pay to the Commonwealth an amount equivalent to the amount that the Commonwealth is liable to refund.

Sea Installations Act 1987

317  Section 38

Repeal the section, substitute:

38  Sea Installations Account

             (1)  There is continued in existence the Sea Installations Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

             (3)  There must be credited to the Account amounts equal to money paid as a security under section 37 by way of a cash deposit.

             (4)  If the Minister determines in writing that the amount standing to the credit of the Account that represents the sum of the money paid by a person as a security under section 37, and of interest on that money, exceeds the amount required for the purposes of the security, the amount of the excess must be paid to that person by the Commonwealth and the Account must be debited accordingly.

Small Superannuation Accounts Act 1995

318  Section 3 (simplified explanation)

Omit:

•      The Australian Taxation Office has accounts that allow employers to deposit money for their employees instead of making superannuation contributions.

substitute:

•      The Australian Taxation Office administers a Special Account. Notional accounts are kept within the Special Account. Employers may deposit money for their employees instead of making superannuation contributions. These deposits are credited to the notional accounts.

319  Section 3 (simplified explanation)

Omit “also be used to hold”, substitute “also be credited with”.

320  Section 4 (definition of Reserve)

Repeal the definition.

321  Section 4

Insert:

Special Account means the Superannuation Holding Accounts Special Account continued in existence by section 8.

322  Part 2 (heading)

Repeal the heading, substitute:

Part 2Superannuation Holding Accounts Special Account

323  Section 7 (simplified outline)

Repeal the simplified outline, substitute:

•      The Superannuation Holding Accounts Special Account is continued in existence.

•      The Special Account is not a superannuation fund.

324  Section 8

Repeal the section, substitute:

8  Superannuation Holding Accounts Special Account

             (1)  The Superannuation Holding Accounts Account is continued in existence as the Superannuation Holding Accounts Special Account.

Note:          The Superannuation Holding Accounts Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

Note:          An amount standing to the credit of the Special Account may be invested under section 39 of the Financial Management and Accountability Act 1997.

325  Subsection 9(1)

Repeal the subsection, substitute:

Special Account is not a superannuation fund

             (1)  For the purposes of a law of the Commonwealth:

                     (a)  the Special Account is taken not to be a superannuation fund; and

                     (b)  the scheme embodied in this Act is taken not to be a superannuation scheme.

Note:       The heading to section 9 is altered by omitting “Reserve” and substituting “Special Account”.

326  Section 10

Repeal the section.

327  Section 11 (simplified outline)

Repeal the simplified outline, substitute:

•      Notional accounts are to be kept within the Special Account in the names of particular individuals.

•      Section 13 outlines credits to accounts.

•      Section 14 outlines debits to accounts.

•      The Commissioner of Taxation may open or close an account.

•      Accounts may have a nil balance.

•      An individual may only have one account.

•      Account balances are not held on trust.

•      An individual’s account balance will be notified to the individual in certain circumstances.

328  Subsection 12(1)

Omit “Reserve”, substitute “Special Account”.

329  Section 14

Repeal the section, substitute:

14  Outline of debits to accounts

                   The following is a simplified outline of the types of debits that may be made to an individual’s account. These debits also involve debiting the Special Account.

Transfer to superannuation fund or RSA

•      Under section 61, the balance of the amount standing to the credit of the account may be debited from the Special Account and paid by the Commonwealth to a superannuation fund or RSA.

Balance of less than $200—individual has ceased to be employed by all depositors

•      Under section 63, the balance of the amount standing to the credit of the account may be debited from the Special Account and paid by the Commonwealth to the individual if:

               (a)     the balance is less than $200; and

               (b)     the individual has ceased to be employed by all depositors.

Receipt of Commonwealth income support payments

•      Under section 64, the balance of the amount standing to the credit of the account may be debited from the Special Account and paid by the Commonwealth to the individual if the individual is in receipt of Commonwealth income support payments for a sufficient period.

Disability

•      Under section 65, the balance of the amount standing to the credit of the account may be debited from the Special Account and paid by the Commonwealth to the individual if the individual has retired because of permanent disability.

Individual turns 65

•      Under section 66, the balance of the amount standing to the credit of the account may be debited from the Special Account and paid by the Commonwealth to the individual if the individual has turned 65.

Individual at least 55 years old and not an Australian resident

•      Under section 67, the balance of the amount standing to the credit of the account may be debited from the Special Account and paid by the Commonwealth to the individual if the individual is at least 55 years old and is not an Australian resident for income tax purposes and:

               (a)     the individual is not in employment; or

               (b)     the individual is in employment, but the duties of the individual’s employment are performed wholly or principally outside Australia.

Permanent departure from Australia

•      The balance of the amount standing to the credit of an individual’s account may be debited from the Special Account if:

               (a)     the individual was the holder of an eligible temporary residents visa that has expired or been cancelled; and

               (b)     the individual has permanently departed from Australia.

Death of individual

•      Under section 68, if the individual dies, the balance of the amount standing to the credit of the account may be debited from the Special Account and paid by the Commonwealth to the individual’s legal personal representative.

Refunds of deposits

•      Under Part 8, an amount standing to the credit of the account may be debited from the Special Account and paid by the Commonwealth for the purposes of refunding deposits that were:

               (a)     accompanied by false or defective deposit forms; or

               (b)     made by mistake.

330  Paragraph 16(e)

Omit “transferred to the Consolidated Revenue Fund”, substitute “debited from the Special Account”.

331  Paragraph 17(2)(d)

Omit “transferred to the Consolidated Revenue Fund”, substitute “debited from the Special Account”.

332  Section 34 (simplified outline)

Repeal the simplified outline, substitute:

Deposits are to be credited to accounts by following these steps:

•      credit the deposit to the Special Account;

•      credit the deposit to the individual’s account.

333  Section 35

Repeal the section, substitute:

35  Crediting of deposits

Step 1—Credit to Special Account

             (1)  An amount equal to a deposit or purported deposit made in respect of an individual is to be credited to the Special Account.

Step 2—Credit to individual’s account

             (2)  As soon as practicable after the amount is credited to the Special Account, the individual’s account is to be credited with an amount equal to the deposit or purported deposit.

334  Section 36 (simplified outline)

Repeal the simplified outline, substitute:

•      Interest is funded by crediting amounts to the Special Account.

•      Interest accrues to an account on the daily balance of the account. Interest only accrues on the first $1,200 of the balance of the account.

•      Interest is credited each quarter on the allocation day.

•      The allocation day is published in the Gazette.

•      The rate at which interest accrues is called the allocation rate.

•      The allocation rate is published in the Gazette.

•      Interest will not accrue to an account in the following cases:

                          (a)       a deposit is refunded;

                          (b)       a shortfall component is incorrectly credited to the account;

                          (c)       the $1,200 limit has been avoided by the use of multiple accounts.

335  Paragraph 38(a)

Omit “money in the Reserve”, substitute “amounts standing to the credit of the Special Account”.

336  Paragraph 38(b)

Omit “amount of uninvested money in the Reserve”, substitute “amount standing to the credit of the Special Account that remains uninvested”.

337  Subsection 39(5)

Omit “money in the Reserve”, substitute “amounts standing to the credit of the Special Account”.

338  Section 40 (simplified outline)

Repeal the simplified outline, substitute:

•      Interest is funded by crediting the net interest amount to the Special Account.

•      An Unallocated Interest Pool is to be kept within the Special Account.

•      Unallocated interest is represented by the balance of the Unallocated Interest Pool.

•      In special cases, the Unallocated Interest Pool may be supplemented by crediting an amount to the Special Account.

•      Since interest only accrues on the first $1,200 of an account balance, it is possible for a surplus to build up in the Unallocated Interest Pool. The surplus can be debited from the Special Account.

339  Sections 41 and 42

Repeal the sections, substitute:

41  Crediting of net interest amount to the Special Account

                   As soon as practicable after the end of a quarter, an amount equal to the net interest amount for the quarter is to be credited to the Special Account.

Note:          Net interest amount is defined by section 39.

42  Unallocated Interest Pool

Pool

             (1)  For accounting purposes, a separate notional subcomponent, called the Unallocated Interest Pool, is to be kept within the Special Account.

Credits to Pool

             (2)  An amount credited to the Special Account under section 41 is to be credited to the Unallocated Interest Pool.

Debits from Pool

             (3)  The balance of the Unallocated Interest Pool is to be debited for the purposes of crediting interest to an individual’s account.

340  Subsection 43(3)

Repeal the subsection, substitute:

Crediting of the supplementation amount

             (3)  The specified amount is to be credited to the Special Account.

341  Subsection 44(3)

Repeal the subsection, substitute:

             (3)  An amount equal to the excess is to be debited from the Special Account.

Note:       The heading to section 44 is replaced by the heading “Debiting of unallocated interest”.

342  Subsection 46(1)

Omit “transferred to the Reserve”, substitute “credited to the Special Account”.

343  Paragraph 50(2)(e)

Repeal the paragraph, substitute:

                     (e)  the debiting of the balance of the account from the Special Account under Part 9 (this event is to be known as the inactive account debit event).

Note:       The heading to subsection 50(2) is altered by omitting “transfer” and substituting “debit”.

344  Subsection 50(5)

Omit “inactive account transfer”, substitute “inactive account debit”.

Note:       The heading to subsection 50(5) is altered by omitting “transfer” and substituting “debit”.

345  Paragraph 50(5)(b)

Omit “transfer”, substitute “debit”.

346  Subsection 53(2)

Repeal the subsection, substitute:

Reversing interest credit

             (2)  If interest has been credited to an individual’s account in contravention of subsection (1), the Commissioner of Taxation must debit the account by the amount of the credit. The debit must be made before the account balance is debited by the amount of the refund payment.

347  Subsection 61(5)

Repeal the subsection, substitute:

Special Account to be debited

             (5)  The Special Account is debited for the purposes of making the payment.

Note:       The heading to subsection 61(6) is altered by omitting “Account” and substituting “Individual’s account”.

348  Subsection 61A(3)

Omit “Reserve”, substitute “Special Account”.

349  Subsection 63(4)

Repeal the subsection, substitute:

Special Account to be debited

             (4)  The Special Account is debited for the purposes of making the payment.

Note:       The heading to subsection 63(5) is altered by omitting “Account” and substituting “Individual’s account”.

350  Subsection 64(4)

Repeal the subsection, substitute:

Special Account to be debited

             (4)  The Special Account is debited for the purposes of making the payment.

Note:       The heading to subsection 64(5) is altered by omitting “Account” and substituting “Individual’s account”.

351  Subsection 65(4)

Repeal the subsection, substitute:

Special Account to be debited

             (4)  The Special Account is debited for the purposes of making the payment.

Note:       The heading to subsection 65(5) is altered by omitting “Account” and substituting “Individual’s account”.

352  Subsection 66(6)

Repeal the subsection, substitute:

Special Account to be debited

             (6)  The Special Account is debited for the purposes of making the payment.

Note:       The heading to subsection 66(7) is altered by omitting “Account” and substituting “Individual’s account”.

353  Subsection 67(4)

Repeal the subsection, substitute:

Special Account to be debited

             (4)  The Special Account is debited for the purposes of making the payment.

Note:       The heading to subsection 67(5) is altered by omitting “Account” and substituting “Individual’s account”.

354  Subsection 67A(4)

Repeal the subsection, substitute:

Special Account to be debited

             (4)  The Special Account is debited for the purposes of making the payment.

Note:       The heading to subsection 67A(5) is altered by omitting “Account” and substituting “Individual’s account”.

355  Subsection 68(4)

Repeal the subsection, substitute:

Special Account to be debited

             (4)  The Special Account is debited for the purposes of making the payment.

Note:       The heading to subsection 68(5) is altered by omitting “Account” and substituting “Individual’s account”.

356  Subsection 72(3)

Repeal the subsection, substitute:

Special Account to be debited

             (3)  The Special Account is debited for the purposes of making the refund payment.

Note:       The heading to subsection 72(4) is altered by omitting “Account” and substituting “Individual’s account”.

357  Subsection 73(4)

Repeal the subsection, substitute:

Special Account to be debited

             (4)  The Special Account is debited for the purposes of making the refund payment.

Note:       The heading to subsection 73(5) is altered by omitting “Account” and substituting “Individual’s account”.

358  Section 75 (simplified outline)

Repeal the simplified outline, substitute:

•      If an individual’s account is inactive for 10 years, the account balance is to be debited from the Special Account.

•      The individual may claim the account balance from the Commissioner of Taxation.

•      The Commissioner of Taxation must keep a register of individuals’ account balances debited.

359  Subsections 76(4), (5), (6) and (7)

Repeal the subsections, substitute:

Debit from the Special Account

             (4)  As soon as practicable after the end of that period, an amount equal to the balance of the individual’s account as at the end of that period is to be debited from the Special Account.

Debiting of individual’s account balance

             (5)  If an amount is debited from the Special Account under subsection (4), the individual’s account is debited by an amount equal to the amount debited from the Special Account.

Claim by individual

             (6)  If an amount has been debited from the Special Account under subsection (4), the individual may request the Commissioner of Taxation to pay to the individual an amount equal to the amount debited from the Special Account.

Claim by individual’s legal personal representative

             (7)  If:

                     (a)  an amount has been debited from the Special Account under subsection (4) in respect of the individual’s account; and

                     (b)  the individual has died;

the individual’s legal personal representative may request the Commissioner of Taxation to pay to the legal personal representative an amount equal to the amount debited from the Special Account in respect of the individual’s account.

360  Paragraph 77(a)

Omit “credited to the Consolidated Revenue Fund”, substitute “debited from the Special Account”.

361  Section 91A

Omit “deposit into”, substitute “credit to”.

362  Subsection 91D(2)

Omit “transferred from the Consolidated Revenue Fund to the Reserve”, substitute “credited to the Special Account”.

363  Subsection 91D(3)

Omit “transferred to the Reserve”, substitute “credited to the Special Account”.

Snowy Hydro Corporatisation Act 1997

364  Subsection 42(4)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Snowy Mountains Engineering Corporation Limited Sale Act 1993

365  Subsection 33(4)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

States Grants (Primary and Secondary Education Assistance) Act 1992

366  Paragraph 114(c)

Repeal the paragraph.

States Grants (Primary and Secondary Education Assistance) Act 1996

367  Paragraph 86(c)

Repeal the paragraph.

Student Assistance Act 1973

368  Subsection 3(1)

Insert:

Account means the Students (Financial Supplement) Account continued in existence by section 12M.

369  Subsection 3(1) (definition of Reserve)

Repeal the definition.

370  Section 12M

Repeal the section, substitute:

12M  Students (Financial Supplement) Account

             (1)  There is continued in existence the Students (Financial Supplement) Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

371  Subsections 12N(2) and (3)

Repeal the subsections, substitute:

             (2)  An amount equal to any amount paid by a participating corporation to the Commonwealth under subsection (1) in respect of a student is to be credited to the Account and:

                     (a)  when it is credited to the Account, an amount equal to that amount is to be paid by the Commonwealth to the student on behalf of the corporation and debited from the Account; and

                     (b)  the amount so paid to the student is taken to be an amount paid to the student by the corporation in discharge of its liability under the contract to pay that amount to the student.

             (3)  If, after an amount paid by a participating corporation to the Commonwealth in respect of a student under subsection (1) is credited to the Account, it is found, for any reason, not to be possible to pass on the amount to the student under paragraph (2)(a), an amount equal to the first‑mentioned amount is to be paid as soon as practicable by the Commonwealth to the corporation and debited from the Account.

372  Paragraph 56(1)(f)

Omit “payments are to be made to persons out of the Reserve”, substitute “payments are to be made to a person by the Commonwealth in respect of a debiting of the Account”.

Superannuation Act 1922

373  Subsection 52(10)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

374  Subsection 88(10)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

375  Subparagraph 100D(a)(ii)

Omit “Consolidated Revenue Fund”, substitute “Commonwealth”.

376  Paragraph 100D(b)

Omit “Consolidated Revenue Fund”, substitute “Commonwealth”.

377  Paragraph 100E(a)

Omit “Consolidated Revenue Fund”, substitute “Commonwealth”.

378  Subparagraph 100L(3)(a)(ii)

Omit “Consolidated Revenue Fund”, substitute “Commonwealth”.

379  Paragraph 100L(3)(b)

Omit “Consolidated Revenue Fund”, substitute “Commonwealth”.

380  Subsection 100L(6)

Omit “Consolidated Revenue Fund”, substitute “Commonwealth”.

381  Paragraph 107E(b)

Omit “Consolidated Revenue Fund”, substitute “Commonwealth”.

382  Paragraph 107F(a)

Omit “Consolidated Revenue Fund”, substitute “Commonwealth”.

383  Paragraph 107M(4)(b)

Omit “Consolidated Revenue Fund”, substitute “Commonwealth”.

384  Subsection 107M(9)

Omit “Consolidated Revenue Fund”, substitute “Commonwealth”.

385  Subparagraph 119T(6)(b)(ii)

Omit “Consolidated Revenue Fund”, substitute “Commonwealth”.

Superannuation Act 1976

386  Subparagraph 27CA(c)(ii)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

387  Subsection 110TG(2)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

388  Subsection 110TG(2)

Omit “to the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

389  Subsections 112(1) and (1A)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Note:       The heading to section 112 is replaced by the heading “Payments to the Commonwealth and payments out of the Consolidated Revenue Fund”.

390  Subsection 112(5)

Omit “to the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

391  Subsection 112(6)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

392  Subsection 112(9)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

393  Subsection 112(10)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

394  Subsection 112(10AAA)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

395  Subsection 112(10B)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

396  Subsections 112(10BA) and (10C)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

397  Paragraphs 124(1)(b) and (c)

Repeal the paragraphs, substitute:

                     (b)  where his or her accumulated contributions have, under subsection 112(1) been paid out of the Superannuation Fund to the Commonwealth, an amount equal to the amount of those contributions must be paid out of the Consolidated Revenue Fund (which is appropriated accordingly) into the Superannuation Fund and, for the purposes of this Act, those accumulated contributions are taken not to have been so paid out of the Superannuation Fund to the Commonwealth; and

                     (c)  if the Fund accumulated employer contributions in respect of the person have, under subsection 112(1A), been paid out of the Superannuation Fund to the Commonwealth:

                              (i)  an amount equal to the amount of those contributions is to be paid out of the Consolidated Revenue Fund (which is appropriated accordingly) into the Superannuation Fund; and

                             (ii)  for the purposes of this Act, those Fund accumulated employer contributions are taken not to have been so paid out of the Superannuation Fund to the Commonwealth.

398  Subsection 124(2)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

399  Paragraph 128(2)(b)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

400  Subsection 128(4)

Omit “into the Consolidated Revenue Fund” (wherever occurring), substitute “to the Commonwealth”.

401  Subsection 128(4AA)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

402  Subsection 140(3)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

403  Paragraph 140(3)(b)

Omit “Consolidated Revenue Fund”, substitute “Commonwealth”.

404  Subsection 145(6)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

405  Subparagraph 145(7)(d)(iii)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

406  Subparagraph 145(8)(a)(iii)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

407  Subparagraph 145(9)(a)(iii)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

408  Subsection 153AN(2)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

409  Paragraph 166(2)(c)

Omit “Consolidated Revenue Fund” (second occurring), substitute “Commonwealth”.

410  Subsection 166(4)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Superannuation (Government Co‑contribution for Low Income Earners) Act 2003

411  Paragraph 15(1)(e)

Omit “Account”, substitute “Special Account”.

412  Subsection 18(1) (paragraph (b) of the note)

Omit “Account”, substitute “Special Account”.

413  Paragraph 19(4)(e)

Omit “Account”, substitute “Special Account”.

414  Subsection 24(3) (table item 2)

Omit “Account”, substitute “Special Account”.

415  Section 56 (definition of Superannuation Holding Accounts Account)

Repeal the definition.

416  Section 56

Insert:

Superannuation Holding Accounts Special Account means the Superannuation Holding Accounts Special Account continued in existence by section 8 of the Small Superannuation Accounts Act 1995.

Superannuation Guarantee (Administration) Act 1992

417  Subsection 65(5)

Omit “transferred from the Consolidated Revenue Fund to the Superannuation Holding Accounts Reserve”, substitute “credited to the Superannuation Holding Accounts Special Account”.

418  Subsection 69A(3)

Repeal the subsection, substitute:

             (3)  An amount equal to the excess is to be debited from the Superannuation Holding Accounts Special Account.

Superannuation Industry (Supervision) Act 1993

419  Section 234

Repeal the section, substitute:

234  Superannuation Protection Account

             (1)  There is continued in existence the Superannuation Protection Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

             (3)  So far as practicable, an amount standing to the credit of the Account that is not required for the purposes of making payments of financial assistance consequential on debits from the Account must be debited from the Account and invested under section 39 of the Financial Management and Accountability Act 1997.

             (4)  If income is received by the Commonwealth from the investment of an amount standing to the credit of the Account, an amount equal to the income must be credited to the Account.

420  Subsection 235(1)

Omit all of the words after “in writing”, substitute “whether or not the amount of assistance is to be debited from the Account”.

421  At the end of subsection 235(1)

Add:

Note:          Subsection 21(1) of the Financial Management and Accountability Act 1997 appropriates the Consolidated Revenue Fund for expenditure for the purposes of the Special Account up to the balance for the time being of the Account.

422  Subsection 235(2)

Repeal the subsection, substitute:

             (2)  If the financial assistance is not debited from the Account, the Consolidated Revenue Fund is appropriated as necessary for the purposes of this section.

423  Sections 236 and 237

Repeal the sections, substitute:

236  Purposes of Account

                   The purposes of the Account are:

                     (a)  to make payments of financial assistance under a determination by the Minister under subsection 235(1); and

                     (b)  to apply any excess referred to in subsection 237(2) in accordance with that subsection.

237  Separate notional accounts to be kept within the Account

             (1)  A separate notional account is to be kept within the Account in respect of each levy.

             (2)  If:

                     (a)  the total of the amounts credited to the Account from amounts paid by funds in respect of a levy that was imposed because of one or more determinations made by the Minister to grant financial assistance;

exceeds:

                     (b)  the total amount of that financial assistance;

then the excess is to be debited from the Account and applied in such manner as the Minister determines.

Sydney Airport Demand Management Act 1997

424  Subsection 27(1)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

425  Subsections 27(2) and (3)

Repeal the subsections, substitute:

             (2)  If an amount is paid to the Commonwealth as a civil penalty (Division 2) or an infringement notice penalty (Division 3) the Commonwealth must pay to the Slot Manager an amount equal to that amount.

             (3)  A payment of an amount to the Slot Manager under subsection (2) is subject to the condition that, if the Commonwealth becomes liable to refund the whole or part of that amount, the Slot Manager must pay to the Commonwealth an amount equivalent to the amount that the Commonwealth is liable to refund.

Note:       The heading to section 27 is altered by omitting “into Consolidated Revenue Fund” and substituting “to the Commonwealth”.

Taxation Administration Act 1953

426  Subparagraph 16(2)(a)(ii)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Telecommunications Act 1997

427  Subsection 73(9)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Note:       The heading to subsection 73(9) is altered by omitting “into Consolidated Revenue Fund” and substituting “to the Commonwealth”.

428  Subsection 468(9)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Note:       The heading to subsection 468(9) is altered by omitting “into Consolidated Revenue Fund” and substituting “to the Commonwealth”.

Telecommunications (Consumer Protection and Service Standards) Act 1999

429  Paragraph 21A(b)

Repeal the paragraph.

430  At the end of section 21A

Add:

Note:          An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

431  Paragraph 21B(1)(c)

Omit “paid into”, substitute “credited to”.

432  Subsection 21B(3)

Omit “paid into”, substitute “credited to”.

433  Section 21C

Repeal the section, substitute:

21C  Levy distribution

             (1)  If a person has a levy credit balance for a claim period because of section 20T, an amount equal to the amount of that balance is payable to the person by the Commonwealth. The Universal Service Account is debited accordingly.

             (2)  No amount is payable under subsection (1) for a claim period unless and until the ACA has made an assessment under section 20U for that claim period.

             (3)  If the total of the amounts payable to persons under subsection (1) is more than the balance of the Universal Service Account, after paying any refunds that are due under section 20ZE, the ACA must:

                     (a)  work out the amount payable to each person as a proportion of the total amounts payable; and

                     (b)  ensure that any payments by the Commonwealth in respect of amounts standing to the credit of the Universal Service Account are made in accordance with those proportions (rounding amounts to whole dollars as the ACA considers appropriate).

             (4)  However, if the Minister determines in writing a different method for making payments by the Commonwealth in respect of amounts standing to the credit of the Universal Service Account than the method provided in subsection (3), the ACA must act in accordance with that determination.

             (5)  A determination under subsection (4) is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901.

             (6)  A person’s levy credit balance for the claim period is reduced by the amount (worked out under this section) that is paid to the person.

             (7)  This section continues to apply until each person’s levy credit balance for the period is reduced to nil.

434  Subsection 21D(1)

Repeal the subsection, substitute:

             (1)  The ACA may distribute to persons who are or were participating persons any balance standing to the credit of the Universal Service Account that remains after all payments payable by the Commonwealth in respect of debits from the Account for a claim period have been paid.

435  Subsection 23D(5)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

436  Subsection 101A(5)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

437  Division 4 of Part 3

Repeal the Division, substitute:

Division 4The NRS Account

102  The NRS Account

             (1)  There is continued in existence the NRS Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The NRS Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

             (3)  The purpose of the NRS Account is to make payments to the NRS provider under the NRS contract.

             (4)  The following amounts must be credited to the NRS Account:

                     (a)  amounts of NRS levy that are paid to the Commonwealth;

                     (b)  interest from the investment of an amount standing to the credit of the NRS Account.

Telstra Corporation Act 1991

438  Section 44

Insert:

Regional Telecommunications Infrastructure Account means the Special Account known as the Regional Telecommunications Infrastructure Account.

439  Section 44 (definition of Regional Telecommunications Infrastructure Fund)

Repeal the definition.

440  Section 44

Insert:

Rural Transaction Centres Account means the Rural Transaction Centres Account continued in existence by section 46.

441  Section 44 (definition of Rural Transaction Centres Account)

Repeal the definition.

442  Section 44 (definition of Rural Transaction Centres Reserve)

Repeal the definition.

443  Section 44

Insert:

Television Fund Account means the Television Fund Account continued in existence by section 63.

444  Section 44 (definition of Television Fund Account)

Repeal the definition.

445  Section 44 (definition of Television Fund Reserve)

Repeal the definition.

446  Section 44 (definition of Untimed Local Call Access Reserve)

Repeal the definition.

447  Division 2 of Part 9 (heading)

Repeal the heading, substitute:

Division 2Rural Transaction Centres Account

448  Section 46

Repeal the section, substitute:

46  Rural Transaction Centres Account

             (1)  There is continued in existence the Rural Transaction Centres Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Rural Transaction Centres Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

             (3)  Amounts equal to income derived from the investment of an amount standing to the credit of the Rural Transaction Centres Account are to be credited to the Rural Transaction Centres Account.

             (4)  The Rural Transaction Centres Account is to be administered by the Department.

449  Section 47

Omit “transferred to the Rural Transaction Centres Reserve from the Consolidated Revenue Fund”, substitute “credited to the Rural Transaction Centres Account”.

Note:       The heading to section 47 is replaced by the heading “Credits to the Rural Transaction Centres Account”.

450  Subsection 48(1)

Omit “Reserve”, substitute “Account”.

Note:       The heading to section 48 is altered by omitting “Reserve” and substituting “Account”.

451  Subsection 48(2)

Omit “Money in the Rural Transaction Centres Reserve”, substitute “Amounts standing to the credit of the Rural Transaction Centres Account”.

452  Subsection 49(1)

Omit “transferred to the Rural Transaction Centres Reserve from the Consolidated Revenue Fund by way of an advance on account of the amount that may become transferable to the Rural Transaction Centres Reserve”, substitute “credited to the Rural Transaction Centres Account by way of an advance on account of the amount that may be credited to the Rural Transaction Centres Account”.

453  Subsection 49(2)

Omit “transferred” (wherever occurring), substitute “credited”.

454  Subsection 50(1)

Omit “Reserve”, substitute “Account”.

455  Subsection 51(1)

Omit “Reserve”, substitute “Account”.

456  Division 2 of Part 9

Repeal the Division.

457  Saving of agreements

An agreement made under section 50 or 51 of the Telstra Corporation Act 1991 that was in force immediately before the repeal of those sections by item 456 of this Schedule, continues in force, according to its terms, after the repeal.

458  Division 3 of Part 9

Repeal the Division.

459  Saving of agreements

An agreement made under section 56 or 57 of the Telstra Corporation Act 1991 that was in force immediately before the repeal of those sections by item 458 of this Schedule, continues in force, according to its terms, after the repeal.

460  Division 4 of Part 9 (heading)

Repeal the heading, substitute:

Division 4Supplementation of the Regional Telecommunications Infrastructure Account

461  Subsection 58(1)

Omit “transferred to the Regional Telecommunications Infrastructure Fund from the Consolidated Revenue Fund”, substitute “credited to the Regional Telecommunications Infrastructure Account”.

462  Subsection 58(2)

Omit “Money in the Regional Telecommunications Infrastructure Fund that represents an amount transferred under subsection (1) may only be debited”, substitute “Amounts standing to the credit of the Regional Telecommunications Infrastructure Account that represent an amount credited under subsection (1) may only be debited and paid by the Commonwealth”.

463  Subsection 58(3)

Omit “Fund”, substitute “Account”.

464  Subsection 58(4)

Omit “Money in the Regional Telecommunications Infrastructure Fund that represents an amount transferred under subsection (1) must not be debited”, substitute “Amounts standing to the credit of the Regional Telecommunications Infrastructure Account that represent an amount credited under subsection (1) must not be debited and paid by the Commonwealth”.

465  Subsection 58(5)

Omit “transferred to the Regional Telecommunications Infrastructure Fund from the Consolidated Revenue Fund by way of an advance on account of the amount that may become transferable to the Regional Telecommunications Infrastructure Fund”, substitute “credited to the Regional Telecommunications Infrastructure Account by way of an advance on account of the amount that may be credited to the Regional Telecommunications Infrastructure Account”.

466  Subsection 58(6)

Omit “transferred” (wherever occurring), substitute “credited”.

467  Subsection 58(7)

Omit “transferred” (wherever occurring), substitute “credited”.

468  Subsection 59(1)

Omit “transferred to the Regional Telecommunications Infrastructure Fund from the Consolidated Revenue Fund”, substitute “credited to the Regional Telecommunications Infrastructure Account”.

469  Subsection 59(2)

Omit “Money in the Regional Telecommunications Infrastructure Fund that represents an amount transferred under subsection (1) may only be debited”, substitute “Amounts standing to the credit of the Regional Telecommunications Infrastructure Account that represent an amount credited under subsection (1) may only be debited and paid by the Commonwealth”.

470  Subsection 59(3)

Omit “Fund”, substitute “Account”.

471  Subsection 59(4)

Omit “Money in the Regional Telecommunications Infrastructure Fund that represents an amount transferred under subsection (1) must not be debited”, substitute “Amounts standing to the credit of the Regional Telecommunications Infrastructure Account that represents an amount credited under subsection (1) must not be debited and paid by the Commonwealth”.

472  Subsection 59(5)

Omit “transferred to the Regional Telecommunications Infrastructure Fund from the Consolidated Revenue Fund by way of an advance on account of the amount that may become transferable to the Regional Telecommunications Infrastructure Fund”, substitute “credited to the Regional Telecommunications Infrastructure Account by way of an advance on account of the amount that may be credited to the Regional Telecommunications Infrastructure Account”.

473  Subsection 59(6)

Omit “transferred” (wherever occurring), substitute “credited”.

474  Subsection 59(7)

Omit “transferred” (wherever occurring), substitute “credited”.

475  Subsection 60(1)

Omit “transferred to the Regional Telecommunications Infrastructure Fund from the Consolidated Revenue Fund”, substitute “credited to the Regional Telecommunications Infrastructure Account”.

476  Subsection 60(2)

Omit “Money in the Regional Telecommunications Infrastructure Fund that represents an amount transferred under subsection (1) may only be debited”, substitute “Amounts standing to the credit of the Regional Telecommunications Infrastructure Account that represent an amount credited under subsection (1) may only be debited and paid by the Commonwealth”.

477  Subsection 60(3)

Omit “Fund”, substitute “Account”.

478  Subsection 60(4)

Omit “Money in the Regional Telecommunications Infrastructure Fund that represents an amount transferred under subsection (1) must not be debited”, substitute “Amounts standing to the credit of the Regional Telecommunications Infrastructure Account that represent an amount credited under subsection (1) must not be debited and paid by the Commonwealth”.

479  Subsection 60(5)

Omit “transferred to the Regional Telecommunications Infrastructure Fund from the Consolidated Revenue Fund by way of an advance on account of the amount that may become transferable to the Regional Telecommunications Infrastructure Fund”, substitute “credited to the Regional Telecommunications Infrastructure Account by way of an advance on account of the amount that may be credited to the Regional Telecommunications Infrastructure Account”.

480  Subsection 60(6)

Omit “transferred” (wherever occurring), substitute “credited”.

481  Subsection 60(7)

Omit “transferred” (wherever occurring), substitute “credited”.

482  Paragraphs 61(1)(a) and 62(1)(a)

Omit “Fund”, substitute “Account”.

483  Division 5 of Part 9 (heading)

Repeal the heading, substitute:

Division 5Television Fund Account

484  Section 63

Repeal the section, substitute:

63  Television Fund Account

             (1)  There is continued in existence the Television Fund Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Television Fund Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

             (3)  Amounts equal to income derived from the investment of an amount standing to the credit of the Television Fund Account are to be credited to the Television Fund Account.

             (4)  The Television Fund Account is to be administered by the Department.

485  Section 64

Omit “transferred to the Television Fund Reserve from the Consolidated Revenue Fund”, substitute “credited to the Television Fund Account”.

Note:       The heading to section 64 is replaced by the heading “Credit of amounts to the Television Fund Account”.

486  Subsection 65(1)

Omit “Reserve”, substitute “Account”.

Note:       The heading to section 65 is altered by omitting “Reserve” and substituting “Account”.

487  Subsection 65(2)

Omit “Money in the Television Fund Reserve”, substitute “Amounts standing to the credit of the Television Fund Account”.

488  Subsection 66(1)

Omit “transferred to the Television Fund Reserve from the Consolidated Revenue Fund by way of an advance on account of the amount that may become transferable to the Television Fund Reserve”, substitute “credited to the Television Fund Account by way of an advance on account of the amount that may be credited to the Television Fund Account”.

489  Subsection 66(2)

Omit “transferred” (wherever occurring), substitute “credited”.

490  Subsections 67(1) and 68(1)

Omit “Reserve”, substitute “Account”.

491  Division 5 of Part 9

Repeal the Division.

492  Saving of agreements

An agreement made under section 67 or 68 of the Telstra Corporation Act 1991 that was in force immediately before the repeal of those sections by item 491 of this Schedule, continues in force, according to its terms, after the repeal.

Therapeutic Goods Act 1989

493  Section 45

Repeal the section, substitute:

45  Therapeutic Goods Administration Account

             (1)  There is continued in existence the Therapeutic Goods Administration Account.

Note:          The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

             (2)  The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

             (3)  There must be credited to the Account amounts equal to:

                     (a)  amounts received by the Commonwealth by way of annual registration charge, annual listing charge, annual charge for inclusion in the Register and annual licensing charge; and

                     (b)  interest received by the Commonwealth from the investment of an amount standing to the credit of the Account; and

                     (c)  money received by the Commonwealth in relation to property paid for after a debit from the Account; and

                     (d)  money received by the Commonwealth for services provided or to be provided, by or on behalf of the Commonwealth, using amounts standing to the credit of the Account (including amounts received by way of fees payable under the regulations); and

                     (e)  donations for the furtherance of a purpose of the Account that are received by the Commonwealth; and

                      (f)  receipts relating to the recovery of debts (other than debts in respect of statutory fines and penalties) by the Commonwealth that are associated with expenditure of an amount standing to the credit of the Account.

Note:          An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

             (4)  The purposes of the Account are to make payments:

                     (a)  to further the objects of this Act (as set out in section 4); and

                     (b)  to enable the Commonwealth to participate in the international harmonisation of regulatory controls on therapeutic goods and other related activities.

Vocational Education and Training Funding Act 1992

494  Paragraph 12(c)

Repeal the paragraph.

Workplace Relations Act 1996

495  Paragraph 356(a)

Repeal the paragraph, substitute:

                     (a)  to the Commonwealth; or

496  Saving provision—Finance Minister’s determinations

If a determination under subsection 20(1) of the Financial Management and Accountability Act 1997 is in force immediately before the commencement of this item, the determination continues in force as if it were made under subsection 20(1) of that Act as amended by this Act.


 

Schedule 2Other amendments

  

Aboriginal and Torres Strait Islander Act 2005

1  Subsection 4(1)

Insert:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

2  Subsection 142G(2)

Omit “Treasurer”, substitute “Finance Minister”.

3  Subsection 144TA(2)

Omit “Minister for Finance”, substitute “Finance Minister”.

4  Subsection 144X(2)

Omit “Treasurer”, substitute “Finance Minister”.

5  Subsection 153(2)

Omit “Treasurer”, substitute “Finance Minister”.

6  Subsection 183(2)

Omit “Treasurer”, substitute “Finance Minister”.

7  Subsection 191X(3)

Omit “Minister for Finance”, substitute “Finance Minister”.

8  Subsection 193AA(1)

Omit “Minister for Finance” (wherever occurring), substitute “Finance Minister”.

9  Subsection 193H(1)

Omit “Minister for Finance”, substitute “Finance Minister”.

10  After section 200A

Insert:

200B  Delegation by Finance Minister

             (1)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under section 142G, 144X, 153 or 183 to an official (within the meaning of the Financial Management and Accountability Act 1997).

             (2)  In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

Aboriginal Land Rights (Northern Territory) Act 1976

11  Section 33

Omit “Treasurer” (wherever occurring), substitute “Finance Minister”.

12  At the end of section 33

Add:

             (2)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under this section to an official (within the meaning of the Financial Management and Accountability Act 1997). In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

             (3)  In this section:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

Agricultural and Veterinary Chemicals (Administration) Act 1992

13  Section 4

Insert:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

14  Section 59

Omit “Minister for Finance”, substitute “Finance Minister”.

15  Paragraph 60(a)

Omit “Minister for Finance”, substitute “Finance Minister”.

16  Subsection 63(2)

Omit “Treasurer”, substitute “Finance Minister”.

17  Subsection 64(1)

Omit “Treasurer”, substitute “Finance Minister”.

18  Subsection 64(2)

Omit “Treasurer”, substitute “Finance Minister”.

19  At the end of Part 7

Add:

69AA  Delegation by Finance Minister

             (1)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under section 63 or 64 to an official (within the meaning of the Financial Management and Accountability Act 1997).

             (2)  In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

20  Section 72

Repeal the section.

Albury‑Wodonga Development Act 1973

21  Section 3 (definition of approved bank)

Omit “Treasurer”, substitute “Finance Minister”.

22  Section 3

Insert:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

23  Subsection 24(2)

Omit “Minister for Finance”, substitute “Finance Minister”.

24  Paragraph 26(1)(b)

Omit “Treasurer”, substitute “Finance Minister”.

25  Subsection 26(3)

Omit “Treasurer”, substitute “Finance Minister”.

26  Paragraph 28(2)(c)

Omit “Treasurer”, substitute “Finance Minister”.

27  After section 31A

Insert:

31B  Delegation by Finance Minister

             (1)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under section 3 (definition of approved bank), 26 or 28 to an official (within the meaning of the Financial Management and Accountability Act 1997).

             (2)  In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

28  Paragraph 32(a)

Omit “Minister for Finance”, substitute “Finance Minister”.

Australian Broadcasting Corporation Act 1983

29  Section 3

Insert:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

30  Subsection 25B(5) (definition of proposed borrowing or raising of money)

Omit “Treasurer”, substitute “Finance Minister”.

31  Subsection 67(2)

Omit “Minister for Finance”, substitute “Finance Minister”.

32  Subsection 70A(1)

Omit “Minister for Finance”, substitute “Finance Minister”.

33  Subsection 70A(2)

Omit “Minister for Finance”, substitute “Finance Minister”.

34  Subsection 70B(1)

Omit “Treasurer”, substitute “Finance Minister”.

35  Subsection 70B(6)

Omit “Treasurer”, substitute “Finance Minister”.

36  Subsection 70C(1)

Omit “Treasurer”, substitute “Finance Minister”.

37  Subsection 70C(2)

Omit “Treasurer” (wherever occurring), substitute “Finance Minister”.

38  Section 70F

Repeal the section.

39  At the end of Part VI

Add:

71A  Delegation by Finance Minister

             (1)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under section 70B or 70C to an official (within the meaning of the Financial Management and Accountability Act 1997).

             (2)  In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

Australian Film Commission Act 1975

40  Subsection 6(2)

Omit “Treasurer”, substitute “Finance Minister”.

41  Paragraph 6(4)(b)

Omit “Treasurer”, substitute “Finance Minister”.

42  At the end of section 6

Add:

             (7)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under this section to an official (within the meaning of the Financial Management and Accountability Act 1997). In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

             (8)  In this section:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

Australian Hearing Services Act 1991

43  Subsection 4(1)

Insert:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

44  Subsection 51(2)

Omit “Minister for Finance”, substitute “Finance Minister”.

45  Section 54

Omit “Minister for Finance”, substitute “Finance Minister”.

46  Subsection 55(1)

Omit “Treasurer’s”, substitute “Finance Minister’s”.

47  Subsection 56(1)

Omit “Treasurer”, substitute “Finance Minister”.

48  Subsection 56(2)

Omit “Treasurer”, substitute “Finance Minister”.

49  Section 58

Repeal the section.

50  At the end of Part 6

Add:

63B  Delegation by Finance Minister

             (1)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under section 55 or 56 to an official (within the meaning of the Financial Management and Accountability Act 1997).

             (2)  In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

Australian Maritime Safety Authority Act 1990

51  Subsection 41(1)

Omit “Treasurer”, substitute “Finance Minister”.

52  Subsection 41(2)

Omit “Treasurer”, substitute “Finance Minister”.

53  Subsection 41(5)

Omit “Treasurer” (wherever occurring), substitute “Finance Minister”.

54  At the end of section 41

Add:

             (6)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under this section to an official (within the meaning of the Financial Management and Accountability Act 1997). In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

             (7)  In this section:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

55  Section 43

Repeal the section.

Australian National University Act 1991

56  Subsection 44(2)

Omit “Treasurer”, substitute “Finance Minister”.

57  At the end of section 44

Add:

             (3)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under this section to an official (within the meaning of the Financial Management and Accountability Act 1997). In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

             (4)  In this section:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

Australian Nuclear Science and Technology Organisation Act 1987

58  Subsection 3(1)

Insert:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

59  Subsection 27(2)

Omit “Minister for Finance”, substitute “Finance Minister”.

60  Section 32

Omit “Minister for Finance”, substitute “Finance Minister”.

61  Subsection 33(1)

Omit “Treasurer”, substitute “Finance Minister”.

62  Subsection 33(3)

Omit “Treasurer”, substitute “Finance Minister”.

63  Subsection 34(1)

Omit “Treasurer”, substitute “Finance Minister”.

64  Subsection 34(2)

Omit “Treasurer”, substitute “Finance Minister”.

65  Subsection 34(3)

Omit “Treasurer”, substitute “Finance Minister”.

66  At the end of Part VII

Add:

36A  Delegation by Finance Minister

             (1)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under section 33 or 34 to an official (within the meaning of the Financial Management and Accountability Act 1997).

             (2)  In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

67  Section 43

Repeal the section.

Australian Prudential Regulation Authority Act 1998

68  Subsection 53(2)

Omit “Treasurer” (wherever occurring), substitute “Finance Minister”.

69  At the end of section 53

Add:

             (3)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under this section to an official (within the meaning of the Financial Management and Accountability Act 1997). In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

             (4)  In this section:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

Australian Trade Commission Act 1985

70  Subsection 79(1)

Omit “Treasurer”, substitute “Finance Minister”.

71  At the end of section 79

Add:

             (5)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under this section to an official (within the meaning of the Financial Management and Accountability Act 1997). In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

             (6)  In this section:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

Commonwealth Authorities and Companies Act 1997

72  Subsection 6(1)

Omit “, other than offences against provisions of Division 4 of Part 3”.

73  Paragraph 18(3)(d)

Omit “Treasurer”, substitute “Finance Minister”.

74  After subsection 18(4)

Insert:

          (4A)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under this section to an official (within the meaning of the Financial Management and Accountability Act 1997). In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

75  Subsection 27C(4)

Repeal the subsection, substitute:

             (4)  A person commits an offence if:

                     (a)  such a disqualification is in force against the person; and

                     (b)  the person is a director of a Commonwealth authority.

Maximum penalty:    Imprisonment for 1 year.

          (4A)  However, the person has an excuse if the person is a director of a Commonwealth authority with the leave of the Court.

Note:          A defendant bears an evidential burden in relation to the matter in subsection (4A), see subsection 13.3(3) of the Criminal Code.

76  Subsection 27C(5)

Omit “subsection (4)”, substitute “subsection (4A)”.

77  Subsection 27C(6)

After “contravene”, insert “such”.

78  Subsection 27C(6)

Omit “imposed under subsection (5)”.

Co‑operative Farmers and Graziers Direct Meat Supply Limited (Loan Guarantee) Act 1978

79  Section 3

Repeal the section, substitute:

3  Definitions

                   In this Act, unless the contrary intention appears:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

Society means the Co‑operative Farmers and Graziers Direct Meat Supply Limited.

80  Subsection 4(1)

Omit “Treasurer”, substitute “Finance Minister”.

81  Section 5

Omit “Treasurer” (first occurring), substitute “Finance Minister”.

82  Paragraph 5(b)

Omit “Treasurer”, substitute “Finance Minister”.

83  Paragraph 5(c)

Omit “Treasurer”, substitute “Finance Minister”.

84  Paragraph 5(d)

Omit “Treasurer”, substitute “Finance Minister”.

Defence Housing Authority Act 1987

85  Subsection 3(1)

Insert:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

86  Paragraph 8(5)(c)

Omit “Treasurer”, substitute “Finance Minister”.

87  Subsection 33(2)

Omit “Minister for Finance”, substitute “Finance Minister”.

88  Section 36

Omit “Minister for Finance” (wherever occurring), substitute “Finance Minister”.

89  Subsection 37(1)

Omit “Treasurer”, substitute “Finance Minister”.

90  Subsection 38(1)

Omit “Treasurer”, substitute “Finance Minister”.

91  Subsection 38(2)

Omit “Treasurer” (wherever occurring), substitute “Finance Minister”.

92  Subsection 41(2)

Omit “Treasurer”, substitute “Finance Minister”.

93  Subsection 41(3)

Omit “Treasurer” (wherever occurring), substitute “Finance Minister”.

94  Subsection 41(4)

Omit “Treasurer” (wherever occurring), substitute “Finance Minister”.

95  Subsection 41(7)

Omit “Treasurer” (wherever occurring), substitute “Finance Minister”.

96  Section 42

Repeal the section.

97  After section 66

Insert:

66A  Delegation by Finance Minister

             (1)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under section 8, 37, 38 or 41 to an official (within the meaning of the Financial Management and Accountability Act 1997).

             (2)  In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

Export Finance and Insurance Corporation Act 1991

98  Subsection 3(1)

Insert:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

99  Subsection 54(1)

Omit “Minister for Finance”, substitute “Finance Minister”.

100  Subsection 54(3)

Omit “Minister for Finance”, substitute “Finance Minister”.

101  Section 58

Omit “Minister for Finance” (wherever occurring), substitute “Finance Minister”.

102  Subsection 59(1)

Omit “Treasurer”, substitute “Finance Minister”.

103  At the end of section 59

Add:

             (4)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under this section to an official (within the meaning of the Financial Management and Accountability Act 1997). In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

104  Subsection 65(4)

Omit “Minister for Finance”, substitute “Finance Minister”.

105  Subsection 65(8)

Omit “Treasurer”, substitute “Finance Minister”.

106  Subsection 65(10)

Omit “Minister for Finance”, substitute “Finance Minister”.

107  Subsection 66(4)

Omit “Minister for Finance”, substitute “Finance Minister”.

108  Subsection 66(8)

Omit “Treasurer”, substitute “Finance Minister”.

109  Subsection 66(10)

Omit “Minister for Finance”, substitute “Finance Minister”.

110  Paragraph 66A(4)(b)

Omit “Treasurer”, substitute “Finance Minister”.

111  Subsection 66A(6)

Omit “Minister for Finance”, substitute “Finance Minister”.

112  Subsection 66A(7)

Omit “Minister for Finance”, substitute “Finance Minister”.

Financial Management and Accountability Act 1997

113  Paragraph 53(1)(a)

After “62”, insert “or 62A”.

114  Subsection 53(1A)

After “62”, insert “or 62A”.

115  Subsection 53(1A)

After “Minister”, insert “or Treasurer”.

116  Subsection 53(2)

Repeal the subsection, substitute:

             (2)  If the Chief Executive is subject to directions in relation to the exercise of a power or function delegated to the Chief Executive under section 62 or 62A, the Chief Executive must give corresponding directions to the second delegate.

             (3)  The second delegate must comply with any directions of the Chief Executive.

117  Paragraph 59(1)(b)

Omit “Department of Finance”, substitute “Department of Finance and Administration”.

118  Subsection 59(2)

Repeal the subsection, substitute:

             (2)  If there is no Agency responsible for the matter, or if the responsible Agency is the Department of Finance and Administration or the Australian Customs Service, then the third member of the Committee is to be a Chief Executive nominated by the Finance Minister.

Fisheries Administration Act 1991

119  Subsection 4(1)

Insert:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

120  Subsection 83(2)

Omit “Treasurer”, substitute “Finance Minister”.

121  Subsection 84(1)

Omit “Treasurer”, substitute “Finance Minister”.

122  Subsection 84(2)

Omit “Treasurer”, substitute “Finance Minister”.

123  At the end of Division 8 of Part 2

Add:

88A  Delegation by Finance Minister

             (1)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under sections 83 and 84 to an official (within the meaning of the Financial Management and Accountability Act 1997).

             (2)  In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

Health Insurance Commission Act 1973

124  At the end of section 36

Add:

             (4)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under this section to an official (within the meaning of the Financial Management and Accountability Act 1997). In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

High Court of Australia Act 1979

125  Subsection 4(1)

Insert:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

126  Subsection 35(2)

Omit “Minister for Finance”, substitute “Finance Minister”.

127  Paragraph 39(2)(c)

Omit “Treasurer”, substitute “Finance Minister”.

128  At the end of section 39

Add:

             (3)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under this section to an official (within the meaning of the Financial Management and Accountability Act 1997). In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

129  Subsection 47(1)

Omit “Minister for Finance”, substitute “Finance Minister”.

Maritime College Act 1978

130  Section 4

Insert:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

131  Subsection 36(1)

Omit “Treasurer”, substitute “Finance Minister”.

132  Subsection 37(1)

Omit “Treasurer”, substitute “Finance Minister”.

133  Subsection 37(2)

Omit “Treasurer” (wherever occurring), substitute “Finance Minister”.

134  Section 37C

Repeal the section, substitute:

37C  Delegation by Finance Minister

             (1)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under section 36 or 37 to an official (within the meaning of the Financial Management and Accountability Act 1997).

             (2)  In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

Native Title Act 1993

135  At the end of section 206

Add:

             (2)  In paragraph (1)(c), the reference to an annual report prepared under Part 4A of the Aboriginal and Torres Strait Islander Commission Act 1989 includes a reference to a report of the Indigenous Land Corporation referred to in subsection 193K(2) of that Act.

Norfolk Island Act 1979

136  Subsection 4(1)

Insert:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

137  Section 49

Omit “Minister for Finance” (wherever occurring), substitute “Finance Minister”.

138  Subsection 50(1)

Omit “Treasurer”, substitute “Finance Minister”.

139  Subsection 50A(1)

Omit “Treasurer”, substitute “Finance Minister”.

140  Subsection 50A(2)

Omit “Treasurer” (wherever occurring), substitute “Finance Minister”.

141  Section 50D

Repeal the section, substitute:

50D  Delegation by Finance Minister

             (1)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under section 50 or 50A to an official (within the meaning of the Financial Management and Accountability Act 1997).

             (2)  In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

Northern Prawn Fishery Voluntary Adjustment Scheme Loan Guarantee Act 1985

142  Section 3

Repeal the section, substitute:

3  Definitions

                   In this Act, unless the contrary intention appears:

Authority means the Queensland Fisheries Management Authority constituted by the Fisheries Act 1994 of Queensland.

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

143  Subsection 5(1)

Omit “Treasurer”, substitute “Finance Minister”.

144  Section 6

Omit “Treasurer” (wherever occurring), substitute “Finance Minister”.

145  At the end of the Act

Add:

7  Delegation by Finance Minister

             (1)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under section 5 or 6 to an official (within the meaning of the Financial Management and Accountability Act 1997).

             (2)  In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

Northern Territory (Lessees’ Loans Guarantee) Act 1954

146  Subsection 4(1)

Omit “Treasurer” (wherever occurring), substitute “Finance Minister”.

147  Subsection 4(2)

Omit “Treasurer”, substitute “Finance Minister”.

148  Subsection 4(3)

Omit “Treasurer”, substitute “Finance Minister”.

149  At the end of section 4

Add:

             (4)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under this section to an official (within the meaning of the Financial Management and Accountability Act 1997). In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

             (5)  In this section:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

Note:       The heading to section 4 is altered by omitting “Treasurer” and substituting “Finance Minister”.

150  Section 5

Repeal the section.

Primary Industries and Energy Research and Development Act 1989

151  Subsection 4(1)

Insert:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

152  Section 41

Omit “Minister for Finance” (wherever occurring), substitute “Finance Minister”.

153  Subsection 42(1)

Omit “Treasurer”, substitute “Finance Minister”.

154  Subsection 43(1)

Omit “Treasurer”, substitute “Finance Minister”.

155  Subsection 43(2)

Omit “Treasurer”, substitute “Finance Minister”.

156  At the end of Division 5 of Part 2

Add:

46A  Delegation by Finance Minister

             (1)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under section 42 or 43 to an official (within the meaning of the Financial Management and Accountability Act 1997).

             (2)  In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

Safety, Rehabilitation and Compensation Act 1988

157  Subsection 91(2)

Omit “Minister for Finance”, substitute “Finance Minister”.

158  At the end of section 91

Add:

             (5)  In this section:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

159  Subsection 95(1)

Omit “Treasurer”, substitute “Finance Minister”.

160  Subsection 95(3)

Omit “Treasurer”, substitute “Finance Minister”.

161  At the end of section 95

Add:

             (6)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under this section to an official (within the meaning of the Financial Management and Accountability Act 1997). In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

             (7)  In this section:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

Special Broadcasting Service Act 1991

162  Section 3

Insert:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

163  Subsection 56(2)

Omit “Minister for Finance”, substitute “Finance Minister”.

164  Section 59

Omit “Minister for Finance”, substitute “Finance Minister”.

165  Subsection 60(1)

Omit “Treasurer”, substitute “Finance Minister”.

166  Subsection 61(1)

Omit “Treasurer”, substitute “Finance Minister”.

167  Subsection 61(2)

Omit “Treasurer”, substitute “Finance Minister”.

168  Section 64

Repeal the section, substitute:

64  Delegation by Finance Minister

             (1)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under section 60 or 61 to an official (within the meaning of the Financial Management and Accountability Act 1997).

             (2)  In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

Stevedoring Industry Finance Committee Act 1977

169  Subsection 20(1)

Omit “Treasurer”, substitute “Finance Minister”.

170  Subsection 20(3)

Omit “Treasurer”, substitute “Finance Minister”.

171  At the end of section 20

Add:

             (5)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under this section to an official (within the meaning of the Financial Management and Accountability Act 1997). In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

             (6)  In this section:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

Sydney Harbour Federation Trust Act 2001

172  Section 62

Omit “Minister for Finance and Administration”, substitute “Finance Minister”.

173  At the end of section 62

Add:

             (2)  The Finance Minister may, by written instrument, delegate any of the Finance Minister’s powers or functions under this section to an official (within the meaning of the Financial Management and Accountability Act 1997). In exercising powers or functions under a delegation, the official must comply with any directions of the Finance Minister.

             (3)  In this section:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

174  Saving provision—provisions that formerly referred to the Treasurer

(1)        Any thing that:

                     (a)  was done by the Treasurer, or by a delegate of the Treasurer, before the commencing time under an affected provision; and

                     (b)  was in effect immediately before the commencing time;

continues to have effect after the commencing time as if it had been done by the Finance Minister under the affected provision.

(2)        In this item:

affected provision means a provision that is amended by an item in this Schedule so as to replace references to the Treasurer with references to the Finance Minister.

commencing time means the day this Act receives the Royal Assent.

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.


 

Schedule 3Repeal of Acts

  

1  Repeal of Acts

The Acts specified in this Schedule are repealed.

Australian Development Assistance Agency (Repeal) Act 1977

Loan Act (No. 2) 1983

Loan Act 1984

Loan Act 1985

Loan Act 1986

Loan Act 1992

Loan Act 1993

Loan Act 1994

Loan Act 1995

Loan Act 1996

Loan (Income Equalization Deposits) Act 1976

Loan (International Bank for Reconstruction and Development) Act 1950

Loan (Supplementary Borrowing) Act 1969

Loans (Qantas Airways Limited) Act (No. 2) 1971

Loans (Qantas Airways Limited) Act 1972

Loans (Qantas Airways Limited) Act 1974

Loans (Qantas Airways Limited) Act 1976

Qantas Airways Limited (Loan Guarantee) Act 1976

Railway Standardization (South Australia) Agreement Act 1949

Roads Grants Act 1980

Roads Grants Act 1981

States Grants (Capital Assistance) Act (No. 3) 1972

States Grants (Capital Assistance) Act 1979

States Grants (Capital Assistance) Act 1980

States Grants (Capital Assistance) Act 1981

States Grants (Roads) Act 1977

States Grants (Urban Public Transport) Act 1978

War Gratuity Appropriation Act 1948


 

 

[Minister’s second reading speech made in—

House of Representatives on 1 December 2004

Senate on 8 February 2005]

(229/04)