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A Bill for an Act to amend legislation relating to the Future Fund, the Medical Research Future Fund and the Emergency Response Fund, and for other purposes
Administered by: Finance
For authoritative information on the progress of bills and on amendments proposed to them, please see the House of Representatives Votes and Proceedings, and the Journals of the Senate as available on the Parliament House website.
Registered 25 Aug 2021
Introduced HR 25 Aug 2021
Table of contents.

2019‑2020‑2021

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

Investment Funds Legislation Amendment Bill 2021

 

No.      , 2021

 

(Finance)

 

 

 

A Bill for an Act to amend legislation relating to the Future Fund, the Medical Research Future Fund and the Emergency Response Fund, and for other purposes

  

  


Contents

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

2............ Commencement................................................................................... 1

3............ Schedules............................................................................................ 2

Schedule 1—Staff of the Future Fund Management Agency                    3

Part 1—Amendments                                                                                                    3

Division 1—Main amendments                                                                                3

Future Fund Act 2006                                                                                                3

Division 2—Consequential amendments                                                                8

Aboriginal and Torres Strait Islander Land and Sea Future Fund Act 2018 8

DisabilityCare Australia Fund Act 2013                                                                9

Emergency Response Fund Act 2019                                                                       9

Future Drought Fund Act 2019                                                                                9

Medical Research Future Fund Act 2015                                                               9

Part 2—Transitional                                                                                                     11

Schedule 2—Freedom of information                                                                     17

Freedom of Information Act 1982                                                                          17

Schedule 3—Medical Research Future Fund                                                     18

Part 1—Amendments                                                                                                  18

Medical Research Future Fund Act 2015                                                             18

Part 2—Application and transitional                                                                   23

Schedule 4—Emergency Response Fund                                                              27

Part 1—Amendments                                                                                                  27

Emergency Response Fund Act 2019                                                                     27

Part 2—Application                                                                                                     34

 

 


A Bill for an Act to amend legislation relating to the Future Fund, the Medical Research Future Fund and the Emergency Response Fund, and for other purposes

The Parliament of Australia enacts:

1  Short title

                   This Act is the Investment Funds Legislation Amendment Act 2021.

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

Provisions

Commencement

Date/Details

1.  Sections 1 to 3 and anything in this Act not elsewhere covered by this table

The day this Act receives the Royal Assent.

 

2.  Schedule 1

A single day to be fixed by Proclamation.

However, if the provisions do not commence within the period of 6 months beginning on the day this Act receives the Royal Assent, they commence on the day after the end of that period.

 

3.  Schedules 2, 3 and 4

The day after this Act receives the Royal Assent.

 

Note:          This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

             (2)  Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3  Schedules

                   Legislation 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.

Schedule 1Staff of the Future Fund Management Agency

Part 1Amendments

Division 1—Main amendments

Future Fund Act 2006

1  Section 5

Insert:

APS Agency means an Agency within the meaning of the Public Service Act 1999.

APS Code of Conduct means the Code of Conduct within the meaning of the Public Service Act 1999.

APS employee has the same meaning as in the Public Service Act 1999.

APS Values has the same meaning as in the Public Service Act 1999.

employee of the Agency means a person employed under subsection 77(1).

fair work instrument has the same meaning as in the Fair Work Act 2009.

staff of the Agency has the meaning given by subsection 77(6).

2  Section 77

Repeal the section, substitute:

77  Staff of the Agency

             (1)  The Chair may, on behalf of the Commonwealth, employ such employees as the Chair thinks necessary in connection with the performance of any of the Agency’s functions.

             (2)  The Chair, on behalf of the Commonwealth, has all the rights, duties and powers of an employer in respect of the engagement, and employment, of employees of the Agency.

             (3)  The Chair may, from time to time, determine in writing the terms and conditions of employment applying to an employee of the Agency or employees of the Agency.

Note 1:       Certain terms and conditions of employment are applicable to an employee of the Agency under the National Employment Standards.

Note 2:       Other Commonwealth laws deal with matters such as superannuation, compensation, long service leave and maternity leave.

             (4)  A determination under subsection (3) is of no effect to the extent that it would reduce the benefit to an employee of the Agency of an individual term or condition applicable to the employee under a fair work instrument.

Note:          A determination under subsection (3) would also be of no effect to the extent that it would reduce the benefit to an employee of the Agency of a term or condition applicable to the employee under the National Employment Standards.

             (5)  A determination under subsection (3) may apply, adopt or incorporate, with or without modification, any of the provisions of a fair work instrument as in force from time to time.

Note:          A determination under subsection (3) may apply, adopt or incorporate, with or without modification, any of the provisions of the National Employment Standards. However, any modification of the provisions of those Standards by a determination under subsection (3) would be of no effect to the extent that it would reduce the benefit to an employee of the Agency of a term or condition applicable to the employee under those Standards.

             (6)  The staff of the Agency consists of persons employed under subsection (1).

77A  Relationship with Fair Work Acts

             (1)  This Act has effect subject to the Fair Work Act 2009 and the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009.

             (2)  Subsection (1) is not intended to imply anything about the relationship between this Act and any Act other than the Fair Work Act 2009 or the Fair Work (Transitional Provisions and Consequential Amendments) Act 2009.

3  Paragraph 78(3)(a)

Omit “Agencies (within the meaning of the Public Service Act 1999)”, substitute “APS Agencies”.

4  Section 79

Repeal the section, substitute:

79  Secondment of employees of the Agency

                   The Chair may, in writing, arrange for an employee of the Agency to be seconded for a specified period to an APS Agency.

79A  Voluntary moves to APS

             (1)  Section 26 of the Public Service Act 1999 applies in relation to an employee of the Agency as if:

                     (a)  the employee were an APS employee; and

                     (b)  the Agency were an APS Agency; and

                     (c)  the Chair were an Agency Head.

             (2)  An employee of the Agency who moves to an APS Agency under that section is entitled to have the employee’s employment, as an employee of the Agency, treated as if it were:

                     (a)  employment as an APS employee; and

                     (b)  at a corresponding classification, as agreed between the Chair and the Australian Public Service Commissioner.

79B  Future Fund Management Agency Code of Conduct

             (1)  The Chair:

                     (a)  must:

                              (i)  determine, in writing, the Future Fund Management Agency Code of Conduct; and

                             (ii)  do so as soon as practicable after the commencement of this section; and

                     (b)  may, in writing, vary the Future Fund Management Agency Code of Conduct.

             (2)  The Future Fund Management Agency Code of Conduct applies to:

                     (a)  the Chair; and

                     (b)  employees of the Agency.

             (3)  As far as practicable, the Future Fund Management Agency Code of Conduct must be consistent with the APS Code of Conduct.

             (4)  The Future Fund Management Agency Code of Conduct must be published on the Agency’s website.

             (5)  To avoid doubt, an instrument under subsection (1) is not a legislative instrument.

             (6)  Paragraph (1)(b) of this section does not, by implication, affect the application of subsection 33(3) of the Acts Interpretation Act 1901 to a provision of this Act (other than this section).

79C  Future Fund Management Agency Values

             (1)  The Chair:

                     (a)  must:

                              (i)  determine, in writing, the Future Fund Management Agency Values; and

                             (ii)  do so as soon as practicable after the commencement of this section; and

                     (b)  may, in writing, vary the Future Fund Management Agency Values.

             (2)  The Chair must uphold and promote the Future Fund Management Agency Values.

             (3)  Employees of the Agency must uphold the Future Fund Management Agency Values.

             (4)  As far as practicable, the Future Fund Management Agency Values must be consistent with the APS Values.

             (5)  The Future Fund Management Agency Values must be published on the Agency’s website.

             (6)  To avoid doubt, an instrument under subsection (1) is not a legislative instrument.

             (7)  Paragraph (1)(b) of this section does not, by implication, affect the application of subsection 33(3) of the Acts Interpretation Act 1901 to a provision of this Act (other than this section).

79D  Chair not subject to direction by the Board on certain matters

             (1)  To avoid doubt, the Chair is not subject to direction by the Board in relation to the Chair’s performance of functions, or exercise of powers, under the Public Governance, Performance and Accountability Act 2013 in relation to the Agency.

             (2)  To avoid doubt, the Chair is not subject to direction by the Board in relation to the Chair’s performance of functions, or exercise of powers, under:

                     (a)  section 77; or

                     (b)  section 78; or

                     (c)  section 79; or

                     (d)  section 79A; or

                     (e)  section 79B; or

                      (f)  section 79C.

5  Paragraph 83B(1)(f)

Repeal the paragraph, substitute:

                      (f)  an employee of the Agency who holds, or performs the duties of, a position within the Agency that is at a level equivalent to that of an SES employee.

6  Subsection 83B(1) (note)

Omit “The expressions SES employee and acting SES employee are”, substitute “The expression SES employee is”.

7  After section 83B

Insert:

83C  Delegation by the Chair

             (1)  The Chair may, by writing, delegate any or all of the Chair’s powers under:

                     (a)  section 77; or

                     (b)  section 78; or

                     (c)  section 79; or

                     (d)  section 79A;

to an employee of the Agency who holds, or performs the duties of, a position within the Agency that is at a level equivalent to that of an SES employee.

Note:          The expression SES employee is defined in section 2B of the Acts Interpretation Act 1901.

             (2)  In exercising powers under a delegation, the delegate must comply with any directions of the Chair.

Subdelegation

             (3)  An employee of the Agency (the first delegate) to whom powers are delegated under subsection (1) may, by writing, delegate any of those powers to another employee of the Agency (the second delegate) who holds, or performs the duties of, a position within the Agency that is at a level equivalent to that of an SES employee. However, if the first delegate is subject to directions of the Chair in relation to the exercise of a power delegated under this subsection, the first delegate must give corresponding directions to the second delegate.

             (4)  A power that is exercised by a person under a delegation under subsection (3) is taken, for the purposes of this Act, to have been exercised by the Chair.

Division 2—Consequential amendments

Aboriginal and Torres Strait Islander Land and Sea Future Fund Act 2018

8  Paragraph 52(2)(d)

Repeal the paragraph, substitute:

                     (d)  an employee of the Agency who holds, or performs the duties of, a position within the Agency that is at a level equivalent to that of an SES employee.

DisabilityCare Australia Fund Act 2013

9  Paragraph 52(3)(b)

Repeal the paragraph, substitute:

                     (b)  an employee of the Agency who holds, or performs the duties of, a position within the Agency that is at a level equivalent to that of an SES employee.

10  Subsection 52(3) (note)

Omit “The expressions SES employee and acting SES employee are”, substitute “The expression SES employee is”.

Emergency Response Fund Act 2019

11  Paragraph 59(2)(d)

Repeal the paragraph, substitute:

                     (d)  an employee of the Agency who holds, or performs the duties of, a position within the Agency that is at a level equivalent to that of an SES employee.

Future Drought Fund Act 2019

12  Paragraph 61(2)(d)

Repeal the paragraph, substitute:

                     (d)  an employee of the Agency who holds, or performs the duties of, a position within the Agency that is at a level equivalent to that of an SES employee.

Medical Research Future Fund Act 2015

13  Paragraph 60(2)(d)

Repeal the paragraph, substitute:

                     (d)  an employee of the Agency who holds, or performs the duties of, a position within the Agency that is at a level equivalent to that of an SES employee.

Part 2Transitional

14  Transitional—staff of the Future Fund Management Agency

Scope

(1)       This item applies to a person who, immediately before the commencement of this item, was:

                     (a)  a member of the staff of the Future Fund Management Agency; and

                     (b)  engaged under the Public Service Act 1999.

Transitional

(2)       On and from the commencement of this item, the person is taken:

                     (a)  to cease to be engaged under the Public Service Act 1999; and

                     (b)  to be employed under subsection 77(1) of the Future Fund Act 2006 (as amended by this Schedule); and

                     (c)  to be employed on the same terms and conditions as those that applied to the person immediately before the commencement of this item; and

                     (d)  to have accrued an entitlement to benefits, in connection with the employment mentioned in paragraph (b), that is equivalent to the entitlement that the person had accrued, in connection with the person’s employment, immediately before the commencement of this item.

(3)       Paragraph (2)(c) is subject to any determination made by the Chair of the Future Fund Board of Guardians under subsection 77(3) of the Future Fund Act 2006 (as amended by this Schedule).

(4)       The person’s service as an employee under subsection 77(1) of the Future Fund Act 2006 (as amended by this Schedule) is taken, for all purposes, to be continuous with the person’s service as an APS employee.

(5)       This item does not affect any promotion, performance management or disciplinary actions (however described) in relation to the person that had been started before the commencement of this item.

(6)       The person is not entitled to receive any payment or other benefit merely because the person ceased to be an APS employee under paragraph (2)(a).

(7)       The staffing procedures of the Future Fund Management Agency that were in effect immediately before the commencement of this item continue to apply on and from the commencement of this item in relation to:

                     (a)  processes begun before, but not completed by, the commencement of this item; and

                     (b)  things done by, for or in relation to:

                              (i)  the Future Fund Management Agency; or

                             (ii)  the person;

                            before the commencement of this item.

(8)       The Minister may, by legislative instrument, make rules prescribing details relating to how the staffing procedures of the Future Fund Management Agency will continue to apply under subitem (7).

(9)       The Chair of the Future Fund Board of Guardians may take disciplinary action (however described) against the person in relation to conduct that:

                     (a)  occurred before the commencement of this item; and

                     (b)  was engaged in by the person in connection with the person’s employment as an APS employee in the Agency.

(10)     Section 33 of the Public Service Act 1999, and regulations made for the purposes of that section, continue to apply, in relation to review of APS action (within the meaning of that section) in relation to the person’s employment as an APS employee, as if:

                     (a)  a reference in that section and those regulations to an APS employee included a reference to the person; and

                     (b)  a reference in that section and those regulations to an Agency Head included a reference to the Chair of the Future Fund Board of Guardians; and

                     (c)  a reference in those regulations to a former APS employee did not include a reference to the person.

Definition

(11)     In this item:

staffing procedures includes procedures and policies related to:

                     (a)  recruitment, promotion or performance management; or

                     (b)  inefficiency, misconduct, forfeiture of position, fitness for duty or loss of essential qualifications; or

                     (c)  disciplinary action, grievance processes or reviews of, or appeals against, staffing decisions; or

                     (d)  transfers, resignations or termination of employment; or

                     (e)  leave.

15  Transitional—Safety, Rehabilitation and Compensation Act 1988

Scope

(1)       This item applies in relation to a person if:

                     (a)  the person was a member of the staff of the Future Fund Management Agency in its old capacity before the commencement of this item (whether or not the person was still a member of the staff of the Future Fund Management Agency in its old capacity immediately before that commencement); and

                     (b)  the person was an employee (within the meaning of the Safety, Rehabilitation and Compensation Act 1988) of the Future Fund Management Agency in its old capacity when the person was a member of the staff as mentioned in paragraph (a); and

                     (c)  the person suffered an injury (within the meaning of that Act) before the commencement of this item.

Application of the Safety, Rehabilitation and Compensation Act 1988

(2)       The Safety, Rehabilitation and Compensation Act 1988 applies, on and from the commencement of this item, as if the person had been an employee of the Future Fund Management Agency in its new capacity during the period that the person was a member of the staff of the Future Fund Management Agency in its old capacity.

(3)       For the purposes of this item, the Future Fund Management Agency in its old capacity means the Future Fund Management Agency in its capacity as an entity covered by paragraph (a) of the definition of Entity in subsection 4(1) of the Safety, Rehabilitation and Compensation Act 1988.

(4)       For the purposes of this item, the Future Fund Management Agency in its new capacity means the Future Fund Management Agency in its capacity as an entity covered by paragraph (c) of the definition of Entity in subsection 4(1) of the Safety, Rehabilitation and Compensation Act 1988.

16  Transitional—delegations

Aboriginal and Torres Strait Islander Land and Sea Future Fund Act 2018

(1)       If:

                     (a)  a delegation was in force under subsection 52(2) of the Aboriginal and Torres Strait Islander Land and Sea Future Fund Act 2018 immediately before the commencement of this item; and

                     (b)  the delegation was to any person, who held, occupied or performed the duties, from time to time, of:

                              (i)  the position of Chief Executive Officer of the Future Fund Management Agency; or

                             (ii)  the position of Chief Operating Officer of the Future Fund Management Agency;

then, despite those positions ceasing to be SES positions, the delegation has effect after the commencement of this item, as if the delegation had been made under subsection 52(2) of the Aboriginal and Torres Strait Islander Land and Sea Future Fund Act 2018 (as amended by this Schedule).

DisabilityCare Australia Fund Act 2013

(2)       If:

                     (a)  a delegation was in force under subsection 52(3) of the DisabilityCare Australia Fund Act 2013 immediately before the commencement of this item; and

                     (b)  the delegation was to any person, who held, occupied or performed the duties, from time to time, of:

                              (i)  the position of Chief Executive Officer of the Future Fund Management Agency; or

                             (ii)  the position of Chief Operating Officer of the Future Fund Management Agency;

then, despite those positions ceasing to be SES positions, the delegation has effect after the commencement of this item, as if the delegation had been made under subsection 52(3) of the DisabilityCare Australia Fund Act 2013 (as amended by this Schedule).

Emergency Response Fund Act 2019

(3)       If:

                     (a)  a delegation was in force under subsection 59(2) of the Emergency Response Fund Act 2019 immediately before the commencement of this item; and

                     (b)  the delegation was to any person, who held, occupied or performed the duties, from time to time, of:

                              (i)  the position of Chief Executive Officer of the Future Fund Management Agency; or

                             (ii)  the position of Chief Operating Officer of the Future Fund Management Agency;

then, despite those positions ceasing to be SES positions, the delegation has effect after the commencement of this item, as if the delegation had been made under subsection 59(2) of the Emergency Response Fund Act 2019 (as amended by this Schedule).

Future Drought Fund Act 2019

(4)       If:

                     (a)  a delegation was in force under subsection 61(2) of the Future Drought Fund Act 2019 immediately before the commencement of this item; and

                     (b)  the delegation was to any person, who held, occupied or performed the duties, from time to time, of:

                              (i)  the position of Chief Executive Officer of the Future Fund Management Agency; or

                             (ii)  the position of Chief Operating Officer of the Future Fund Management Agency;

then, despite those positions ceasing to be SES positions, the delegation has effect after the commencement of this item, as if the delegation had been made under subsection 61(2) of the Future Drought Fund Act 2019 (as amended by this Schedule).

Medical Research Future Fund Act 2015

(5)       If:

                     (a)  a delegation was in force under subsection 60(2) of the Medical Research Future Fund Act 2015 immediately before the commencement of this item; and

                     (b)  the delegation was to any person, who held, occupied or performed the duties, from time to time, of:

                              (i)  the position of Chief Executive Officer of the Future Fund Management Agency; or

                             (ii)  the position of Chief Operating Officer of the Future Fund Management Agency;

then, despite those positions ceasing to be SES positions, the delegation has effect after the commencement of this item, as if the delegation had been made under subsection 60(2) of the Medical Research Future Fund Act 2015 (as amended by this Schedule).

Schedule 2Freedom of information

  

Freedom of Information Act 1982

1  Division 1 of Part II of Schedule 2 (after the item dealing with the Export Finance and Insurance Corporation)

Insert:

Future Fund Board of Guardians, in relation to documents in respect of its investment activities.

Future Fund Management Agency, in relation to documents in respect of the investment activities of the Future Fund Board of Guardians.

Schedule 3Medical Research Future Fund

Part 1Amendments

Medical Research Future Fund Act 2015

1  Section 4 (paragraph beginning “The Medical Research Future Fund Special Account can be debited”)

After “certain”, insert “persons and”.

2  Section 4 (paragraph beginning “There is a limit”)

After “financial year” (first occurring), insert “for grants purposes”.

3  Section 4 (paragraph beginning “There is a limit”)

Omit “The limit, which is called the maximum annual distribution, is determined by the Future Fund Board for each financial year.”.

4  Section 5 (definition of maximum annual distribution)

Repeal the definition.

5  Section 10 (paragraph beginning “The Medical Research Future Fund Special Account can be debited”)

After “certain”, insert “persons and”.

6  Subsection 15(4)

Omit “(even if the amounts referred to in paragraph 34(4)(a) are not preserved over the long‑term)”.

7  Paragraph 15A(2)(b)

After “grant”, insert “or grants”.

8  After subsection 15A(2)

Insert:

          (2A)  To avoid doubt, a requirement under subsection (1):

                     (a)  may relate to one or more grants; and

                     (b)  need not specify the grant or grants to which it relates.

9  After section 15A

Insert:

15B  Limitation on total annual debits from the Medical Research Future Fund Special Account

             (1)  The total amount debited from the Medical Research Future Fund Special Account in:

                     (a)  the financial year beginning on 1 July 2022; or

                     (b)  a later financial year;

for the purposes mentioned in section 17 must not exceed:

                     (c)  $650 million; or

                     (d)  if another amount is applicable to the financial year in accordance with subsection (2) or (3)—that other amount.

             (2)  For the purposes of paragraph (1)(d), the responsible Ministers may, by legislative instrument, determine the amount applicable to:

                     (a)  a specified financial year; and

                     (b)  each subsequent financial year.

             (3)  For the purposes of paragraph (1)(d), the responsible Ministers may, by legislative instrument, determine:

                     (a)  one or more financial years; and

                     (b)  for each of those financial years—the amount applicable to the financial year concerned.

             (4)  A determination under subsection (2) does not apply to a financial year that is covered by a determination under subsection (3).

Review

             (5)  At least once every 5 years the responsible Ministers must conduct a review of the operation of paragraphs (1)(c) and (d).

10  Section 16

Repeal the section.

11  Paragraph 17(b)

Before “bodies”, insert “persons or”.

12  Subsection 20(5)

Repeal the subsection, substitute:

             (5)  If the Finance Minister personally gives a direction under subsection (1), the Finance Minister must give a copy of the direction to the Treasurer and the Health Minister.

             (6)  If a delegate of the Finance Minister gives a direction under subsection (1), the delegate must give a copy of the direction to the Treasury Department and the Health Department.

13  At the end of Subdivision C of Division 4 of Part 2

Add:

22A  Instalments of grants

                   A grant referred to in subsection 20(2) may be made in instalments.

14  Section 24

Before “The purpose”, insert “(1)”.

15  Section 24

Before “bodies”, insert “persons or”.

16  After paragraph 24(d)

Insert:

                   ; (e)  a State or Territory;

                      (f)  an authority of a State or Territory.

17  Section 24 (note 2)

Omit “A body that receives”, substitute “The recipient of”.

18  At the end of section 24

Add:

             (2)  For the purposes of this section, corporation means:

                     (a)  a body corporate; or

                     (b)  a corporation sole.

19  Subsection 25(5)

Repeal the subsection, substitute:

             (5)  If the Finance Minister personally gives a direction under subsection (1), the Finance Minister must give a copy of the direction to the Treasurer and the Health Minister.

             (6)  If a delegate of the Finance Minister gives a direction under subsection (1), the delegate must give a copy of the direction to the Treasury Department and the Health Department.

20  Subsection 26(1)

Before “bodies”, insert “persons or”.

21  Section 27 (heading)

Omit “grant to a person other than a State”, substitute “grants”.

22  Subsection 27(1)

After “the person”, insert “or body”.

23  Subsection 27(2)

After “The person”, insert “or body”.

24  At the end of Subdivision D of Division 4 of Part 2

Add:

28  Instalments of grants

                   A grant referred to in subsection 26(1) may be made in instalments.

25  Subsection 29(4)

Repeal the subsection, substitute:

             (4)  If the Finance Minister personally gives a direction under subsection (1), the Finance Minister must give a copy of the direction to the Treasurer and the Health Minister.

             (5)  If a delegate of the Finance Minister gives a direction under subsection (1), the delegate must give a copy of the direction to the Treasury Department and the Health Department.

26  At the end of Subdivision E of Division 4 of Part 2

Add:

30A  Instalments of grants

                   A grant referred to in subsection 29(1) may be made in instalments.

27  Section 32A

Omit “5 years”, substitute “6 years”.

28  Section 32A

Omit “2 years”, substitute “3 years”.

29  Subsection 32D(2)

Omit “be determined and in force”, substitute “come into force”.

30  Subsection 32D(4)

Omit “5 years”, substitute “6 years”.

31  Subsection 32E(4)

Omit “be determined and in force”, substitute “come into force”.

32  Subsection 32E(5)

Omit “2 years”, substitute “3 years”.

33  Part 3

Repeal the Part.

34  Section 54 (paragraph beginning “Every 2 years”)

Omit “Every 2 years”, substitute “As soon as practicable after the most recent Australian Medical Research and Innovation Priorities cease to be in force”.

Part 2Application and transitional

35  Application—copies of directions

The amendments made by items 12, 19 and 25 apply in relation to a direction given after the commencement of this item.

36  Application—duration of the Australian Medical Research and Innovation Strategy and the Australian Medical Research and Innovation Priorities

(1)       The amendment of subsection 32D(4) of the Medical Research Future Fund Act 2015 made by this Schedule does not apply to the Australian Medical Research and Innovation Strategy 2016–2021.

(2)       The amendment of subsection 32E(5) of the Medical Research Future Fund Act 2015 made by this Schedule does not apply to the Australian Medical Research and Innovation Priorities 2020–2022.

37  Transitional provisions relating to the Australian Medical Research and Innovation Strategy and the Australian Medical Research and Innovation Priorities—commencement before the end of 8 November 2021

Scope

(1)       This item applies if this Schedule commences before the end of 8 November 2021.

Australian Medical Research and Innovation Strategy

(2)       In determining whether the Australian Medical Research Advisory Board complied with:

                     (a)  section 32EA of the Medical Research Future Fund Act 2015; or

                     (b)  section 17 of the Legislation Act 2003;

in relation to the Australian Medical Research and Innovation Strategy that next follow the Australian Medical Research and Innovation Strategy 2016–2021, it is immaterial whether the consultation involved a strategy that had a duration of 5 years or 6 years.

Australian Medical Research and Innovation Priorities

(3)       The Australian Medical Research and Innovation Priorities 2020–2022 cease to be in force at the end of 8 November 2021.

(4)       The following provisions apply to the Australian Medical Research and Innovation Priorities (the new priorities) that next follow the Australian Medical Research and Innovation Priorities 2020–2022:

                     (a)  the new priorities cease to be in force at the end of 8 November 2024;

                     (b)  in determining whether the Australian Medical Research Advisory Board complied with:

                              (i)  section 32EA of the Medical Research Future Fund Act 2015; or

                             (ii)  section 17 of the Legislation Act 2003;

                            in relation to the new priorities:

                            (iii)  it is immaterial whether the consultation involved priorities that had a duration of 2 years or 3 years; and

                            (iv)  it is immaterial whether the consultation, or a part of the consultation, occurred before or after the commencement of this item.

(5)       Subitem (3) and paragraph (4)(a) have effect despite anything in:

                     (a)  subsection 32E(5) of the Medical Research Future Fund Act 2015; or

                     (b)  a determination made under section 32E of that Act.

38  Transitional provisions relating to the Australian Medical Research and Innovation Strategy and the Australian Medical Research and Innovation Priorities—commencement after the end of 8 November 2021

Scope

(1)       This item applies if this Schedule commences after the end of 8 November 2021.

Australian Medical Research and Innovation Strategy

(2)       The Australian Medical Research and Innovation Strategy that was in force immediately before the commencement of this item ceases to be in force at the end of 8 November 2027.

(3)       Subitem (2) has effect despite anything in:

                     (a)  subsection 32D(4) of the Medical Research Future Fund Act 2015; or

                     (b)  a determination made under section 32D of that Act.

Australian Medical Research and Innovation Priorities

(4)       The Australian Medical Research and Innovation Priorities 2020–2022 cease to be in force immediately before the commencement of the Australian Medical Research and Innovation Priorities that next follow the Australian Medical Research and Innovation Priorities 2020–2022.

(5)       The following provisions apply to the Australian Medical Research and Innovation Priorities (the new priorities) that next follow the Australian Medical Research and Innovation Priorities 2020–2022:

                     (a)  the new priorities cease to be in force at the end of 8 November 2024;

                     (b)  the Australian Medical Research Advisory Board must take all reasonable steps to ensure that the new priorities come into force as soon as practicable after the commencement of this Schedule;

                     (c)  in determining whether the Australian Medical Research Advisory Board complied with:

                              (i)  section 32EA of the Medical Research Future Fund Act 2015; or

                             (ii)  section 17 of the Legislation Act 2003;

                            in relation to the new priorities:

                            (iii)  it is immaterial whether the consultation involved priorities that had a duration of 2 years or any other period; and

                            (iv)  it is immaterial whether the consultation, or a part of the consultation, occurred before or after the commencement of this item.

(6)       Subitem (4) and paragraphs (5)(a) and (b) have effect despite anything in:

                     (a)  subsection 32E(5) of the Medical Research Future Fund Act 2015; or

                     (b)  a determination made under section 32E of that Act.

39  Transitional—debits and credits

(1)       Despite the amendments made by the following items of this Schedule:

                     (a)  item 2;

                     (b)  item 3;

                     (c)  item 5;

                     (d)  item 7;

                     (e)  item 10;

                      (f)  item 33;

the Medical Research Future Fund Act 2015 continues to apply, in relation to debits in a financial year ending before 1 July 2022, as if those amendments had not been made.

(2)       Despite the amendment made by item 6 of this Schedule, subsection 15(4) of the Medical Research Future Fund Act 2015 continues to apply, in relation to credits in a financial year ending before 1 July 2022, as if that amendment had not been made.

Schedule 4Emergency Response Fund

Part 1Amendments

Emergency Response Fund Act 2019

1  Section 3 (paragraph beginning “This Act establishes the Home Affairs”)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

2  Section 3 (paragraph beginning “Amounts will be transferred from the Emergency Response Fund Special Account to the Home Affairs”)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

3  Section 3 (paragraph beginning “The purposes of the Home Affairs”)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

4  Section 4

Insert:

Emergency Response Fund Payments Special Account means the Emergency Response Fund Payments Special Account referred to in section 27.

5  Section 4 (definition of Home Affairs Department)

Repeal the definition.

6  Section 4 (definition of Home Affairs Emergency Response Fund Special Account)

Repeal the definition.

7  Section 4 (definition of Home Affairs Minister)

Repeal the definition.

8  Section 4

Insert:

NRRA means the body known as the National Recovery and Resilience Agency that was established as an Executive Agency under section 65 of the Public Service Act 1999.

9  Section 8 (paragraph beginning “Each of the following”)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

10  Paragraph 14(a)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

11  Section 19 (paragraph beginning “This Part establishes”)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

12  Section 19 (paragraph beginning “Amounts will be transferred”)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

13  Section 19 (paragraph beginning “The purposes of”)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

14  Subsection 26(1)

Omit “Home Affairs Department’s”, substitute “NRRA’s”.

15  Division 3 of Part 3 (heading)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

16  Section 27

Repeal the section, substitute:

27  Emergency Response Fund Payments Special Account

             (1)  The Home Affairs Emergency Response Fund Special Account is continued in existence with the new name the Emergency Response Fund Payments Special Account.

             (2)  The Emergency Response Fund Payments Special Account is a special account for the purposes of the Public Governance, Performance and Accountability Act 2013.

Note:          An Appropriation Act may contain a provision to the effect that, if any of the purposes of a special account is a purpose that is covered by an item in the Appropriation Act (whether or not the item expressly refers to the special account), then amounts may be debited against the appropriation for that item and credited to that special account.

             (3)  The accountable authority of the NRRA is responsible for the Emergency Response Fund Payments Special Account.

17  Section 28 (heading)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

18  Subsections 28(1) and (4)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

19  Paragraphs 28(7)(a) and (d)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

20  Subsection 28(9)

Repeal the subsection, substitute:

             (9)  If the Finance Minister personally gives a direction under subsection (7), the Finance Minister must give a copy of the direction to the Treasurer and the Emergency Management Minister.

           (10)  If a delegate of the Finance Minister gives a direction under subsection (7), the delegate must give a copy of the direction to the Treasury Department and the NRRA.

21  Section 28A (heading)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

22  Subsections 28A(1) and (4)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

23  Paragraphs 28A(7)(a) and (d)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

24  Subsection 28A(9)

Repeal the subsection, substitute:

             (9)  If the Finance Minister personally gives a direction under subsection (7), the Finance Minister must give a copy of the direction to the Treasurer and the Emergency Management Minister.

           (10)  If a delegate of the Finance Minister gives a direction under subsection (7), the delegate must give a copy of the direction to the Treasury Department and the NRRA.

25  Section 29 (heading)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

26  Section 29

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

27  Section 30 (heading)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

28  Section 30

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

29  Section 31 (heading)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

30  Paragraph 31(1)(a)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

31  Subparagraph 31(2)(a)(i)

Omit “Home Affairs Emergency Response Fund Special Account”, substitute “Emergency Response Fund Payments Special Account”.

32  Subsection 31(4)

Repeal the subsection, substitute:

             (4)  If the Emergency Management Minister personally gives a direction under subsection (2), the Emergency Management Minister must give a copy of the direction to the Treasurer and the Finance Minister.

             (5)  If a delegate of the Emergency Management Minister gives a direction under subsection (2), the delegate must give a copy of the direction to the Treasury Department and the Finance Department.

33  Subsection 32(1)

Repeal the subsection, substitute:

          (1A)  If the Emergency Management Minister decides that a grant of financial assistance should be made to a State or Territory under subsection 20(1), the Emergency Management Minister may request the Finance Minister to transfer a specified amount (which must equal the amount of the grant) from the Emergency Response Fund Special Account to the COAG Reform Fund.

             (1)  If the Emergency Management Minister requests the Finance Minister under subsection (1A) to transfer an amount from the Emergency Response Fund Special Account to the COAG Reform Fund, the Finance Minister must, by writing, direct that, on a specified day, a specified amount (which must equal the requested amount) is to be:

                     (a)  debited from the Emergency Response Fund Special Account; and

                     (b)  credited to the COAG Reform Fund.

34  Subsection 32(3)

Omit “give a direction under subsection (1) if doing so”, substitute “make a request under subsection (1A) if a direction given in response to the request”.

35  Subsection 32(6)

Repeal the subsection, substitute:

             (6)  If the Finance Minister personally gives a direction under subsection (1), the Finance Minister must give a copy of the direction to the Treasurer and the Emergency Management Minister.

             (7)  If a delegate of the Finance Minister gives a direction under subsection (1), the delegate must give a copy of the direction to the Treasury Department and the NRRA.

36  Subsection 32A(1)

Repeal the subsection, substitute:

          (1A)  If the Emergency Management Minister decides that a grant of financial assistance should be made to a State or Territory under subsection 20(1A), the Emergency Management Minister may request the Finance Minister to transfer a specified amount (which must equal the amount of the grant) from the Emergency Response Fund Special Account to the COAG Reform Fund.

             (1)  If the Emergency Management Minister requests the Finance Minister under subsection (1A) to transfer an amount from the Emergency Response Fund Special Account to the COAG Reform Fund, the Finance Minister must, by writing, direct that, on a specified day, a specified amount (which must equal the requested amount) is to be:

                     (a)  debited from the Emergency Response Fund Special Account; and

                     (b)  credited to the COAG Reform Fund.

37  Subsection 32A(3)

Omit “give a direction under subsection (1) if doing so”, substitute “make a request under subsection (1A) if a direction given in response to the request”.

38  Subsection 32A(6)

Repeal the subsection, substitute:

             (6)  If the Finance Minister personally gives a direction under subsection (1), the Finance Minister must give a copy of the direction to the Treasurer and the Emergency Management Minister.

             (7)  If a delegate of the Finance Minister gives a direction under subsection (1), the delegate must give a copy of the direction to the Treasury Department and the NRRA.

39  Subsection 59(1)

Omit “or 28A”, substitute “, 28A, 32 or 32A”.

40  Paragraph 61(1)(a)

Repeal the paragraph, substitute:

                     (a)  the accountable authority of the NRRA; or

41  Paragraph 61(1)(b)

Omit “of the Home Affairs Department”, substitute “in the NRRA”.

42  Paragraph 61(3)(a)

Repeal the paragraph, substitute:

                     (a)  the accountable authority of the NRRA; or

43  Paragraph 61(3)(b)

Omit “in the Home Affairs Department”, substitute “in the NRRA”.

Part 2Application

44  Application—copies of directions

The amendments made by items 20, 24, 32, 35 and 38 apply in relation to a direction given after the commencement of this item.