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A Bill for an Act to amend the Emergency Response Fund Act 2019, 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 07 Sep 2022
Introduced HR 07 Sep 2022
Table of contents.

2022

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

Emergency Response Fund Amendment (Disaster Ready Fund) Bill 2022

 

No.      , 2022

 

(Finance)

 

 

 

A Bill for an Act to amend the Emergency Response Fund Act 2019, and for other purposes

  

  


Contents

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

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

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

4............ Consequential amendments of the Emergency Response Fund Investment Mandate Direction 2020      2

Schedule 1—Amendments commencing on a day to be fixed by Proclamation  4

Part 1—General amendments                                                                                   4

Emergency Response Fund Act 2019                                                                       4

Part 2—Consequential amendments                                                                    28

Aboriginal and Torres Strait Islander Land and Sea Future Fund Act 2018 28

COAG Reform Fund Act 2008                                                                                 28

DisabilityCare Australia Fund Act 2013                                                              29

Future Drought Fund Act 2019                                                                              29

Future Fund Act 2006                                                                                              29

Medical Research Future Fund Act 2015                                                             34

Part 3—Transitional and application provisions                                            35

Schedule 2—Amendments commencing on 1 July 2023                              36

Part 1—Amendments                                                                                                  36

Emergency Response Fund Act 2019                                                                     36

Part 2—Transitional provisions                                                                              38

 

 


A Bill for an Act to amend the Emergency Response Fund Act 2019, and for other purposes

The Parliament of Australia enacts:

1  Short title

                   This Act is the Emergency Response Fund Amendment (Disaster Ready Fund) Act 2022.

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 4 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.  Schedule 2

1 July 2023.

1 July 2023

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.

4  Consequential amendments of the Emergency Response Fund Investment Mandate Direction 2020

             (1)  During the period:

                     (a)  beginning at the commencement of this section; and

                     (b)  ending immediately before the commencement of Schedule 1 to this Act;

the responsible Ministers may, by legislative instrument, make the following amendments of the Emergency Response Fund Investment Mandate Direction 2020:

                     (c)  in section 1 of that Direction, omitting “Emergency Response Fund and substituting “Disaster Ready Fund”;

                     (d)  in section 3 of that Direction, omitting “made under the Emergency Response Fund Act 2019 and substituting “in force under the Disaster Ready Fund Act 2019”;

                     (e)  in the definition of Act in section 4 of that Direction, omitting “Emergency Response Fund Act 2019” and substituting “Disaster Ready Fund Act 2019”;

                      (f)  in the definition of Fund in section 4 of that Direction, omitting “Emergency Response Fund” and substituting “Disaster Ready Fund”.

             (2)  An instrument made under subsection (1) of this section must not take effect before the commencement of Schedule 1 to this Act.

             (3)  Section 42 of the Emergency Response Fund Act 2019 (which deals with consultation) applies to the making of an instrument under subsection (1) of this section in a corresponding way to the way in which it applies to the giving of a direction under subsection 39(1) of that Act.

             (4)  This section does not, by implication, limit the application of subsection 33(3) of the Acts Interpretation Act 1901 to any other power to make an instrument.

             (5)  For the purposes of this section, responsible Ministers has the same meaning as in the Emergency Response Fund Act 2019.

Schedule 1Amendments commencing on a day to be fixed by Proclamation

Part 1General amendments

Emergency Response Fund Act 2019

1  Title

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

2  Section 1

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

Note:       This item amends the short title of the Act. If another amendment of the Act is described by reference to the Act’s previous short title, that other amendment has effect after the commencement of this item as an amendment of the Act under its amended short title (see section 10 of the Acts Interpretation Act 1901).

3  Section 3 (paragraph beginning “This Act establishes the Emergency Response Fund”)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

4  Section 3 (paragraph beginning “The Emergency Response Fund consists of”)

Omit “Emergency Response Fund consists of”, substitute “Disaster Ready Fund consists of”.

5  Section 3 (paragraph beginning “The Emergency Response Fund consists of”)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

6  Section 3 (paragraph beginning “The Emergency Response Fund consists of”)

Omit “of the Emergency Response Fund”, substitute “of the Disaster Ready Fund”.

7  Section 3 (paragraph beginning “The balance”)

Repeal the paragraph.

8  Section 3 (paragraph beginning “The Future Fund Board is”)

Omit “Emergency Response Fund” (first occurring), substitute “Disaster Ready Fund”.

9  Section 3 (paragraph beginning “The Future Fund Board is”)

Omit “Emergency Response Fund Investment Mandate”, substitute “Disaster Ready Fund Investment Mandate”.

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

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

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

Omit “Emergency Response Fund Special Account to the Home Affairs Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account to the Disaster Ready Fund Payments Special Account”.

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

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

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

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

14  Section 4

Insert:

balance of the Disaster Ready Fund means the sum of:

                     (a)  amounts standing to the credit of the Disaster Ready Fund Special Account; and

                     (b)  the value of investments of the Disaster Ready Fund.

15  Section 4 (definition of balance of the Emergency Response Fund)

Repeal the definition.

16  Section 4

Insert:

Disaster Ready Fund means the Disaster Ready Fund referred to in section 9.

17  Section 4

Insert:

Disaster Ready Fund investment function of the Future Fund Board means:

                     (a)  a function or power conferred on the Future Fund Board by section 37, 38, 45, 47, 49 or 50; or

                     (b)  a right or power conferred on the Future Fund Board in its capacity as the holder of an investment of the Disaster Ready Fund.

18  Section 4

Insert:

Disaster Ready Fund Investment Mandate has the meaning given by subsection 39(3).

19  Section 4

Insert:

Disaster Ready Fund Payments Special Account means the Disaster Ready Fund Payments Special Account referred to in section 27.

20  Section 4

Insert:

Disaster Ready Fund Special Account means the Disaster Ready Fund Special Account referred to in section 12.

21  Section 4 (definition of Education Investment Fund)

Repeal the definition.

22  Section 4 (definition of Education Investment Fund Special Account)

Repeal the definition.

23  Section 4 (definition of Emergency Response Fund)

Repeal the definition, substitute:

Emergency Response Fund means the Emergency Response Fund that was established by this Act as originally enacted.

24  Section 4 (definition of Emergency Response Fund investment function)

Repeal the definition.

25  Section 4 (definition of Emergency Response Fund Investment Mandate)

Repeal the definition.

26  Section 4 (definition of Emergency Response Fund Special Account)

Repeal the definition, substitute:

Emergency Response Fund Special Account means the Emergency Response Fund Special Account that was established by this Act as originally enacted.

27  Section 4 (definition of Home Affairs Department)

Repeal the definition.

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

Repeal the definition, substitute:

Home Affairs Emergency Response Fund Special Account means the Home Affairs Emergency Response Fund Special Account that was established by this Act as originally enacted.

29  Section 4 (definition of Home Affairs Minister)

Repeal the definition.

30  Section 4

Insert:

investment of the Disaster Ready Fund means a financial asset that, under a provision of this Act, is taken to be an investment of the Disaster Ready Fund.

31  Section 4 (definition of investment of the Education Investment Fund)

Repeal the definition.

32  Section 4 (definition of investment of the Emergency Response Fund)

Repeal the definition, substitute:

investment of the Emergency Response Fund has the same meaning as in this Act as in force immediately before the commencement of section 9A.

33  Section 4

Insert:

NEMA means the body known as the National Emergency Management Agency.

34  Section 4 (definition of value)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

35  Part 2 (heading)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

36  Section 8 (paragraph beginning “The Emergency Response Fund consists of”)

Omit “Emergency Response Fund consists of”, substitute “Disaster Ready Fund consists of”.

37  Section 8 (paragraph beginning “The Emergency Response Fund consists of”)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

38  Section 8 (paragraph beginning “The Emergency Response Fund consists of”)

Omit “of the Emergency Response Fund”, substitute “of the Disaster Ready Fund”.

39  Section 8 (paragraph beginning “The balance”)

Repeal the paragraph.

40  Section 8 (paragraph beginning “The responsible”)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

41  Section 8 (paragraph beginning “Each of”)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

42  Section 8 (paragraph beginning “Each of”)

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

43  Section 8 (paragraph beginning “The Emergency Response Fund Special Account”)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

44  Section 8 (paragraph beginning “The Emergency Response Fund Special Account”)

Omit “managing the Emergency Respond Fund”, substitute “managing the Disaster Ready Fund”.

45  Division 2 of Part 2 (heading)

Omit “Emergency Response Fund and the Emergency Response Fund Special Account”, substitute “Disaster Ready Fund and the Disaster Ready Fund Special Account”.

46  Section 9

Repeal the section, substitute:

9  Disaster Ready Fund

             (1)  The Emergency Response Fund is continued in existence with the new name the Disaster Ready Fund.

             (2)  The Disaster Ready Fund consists of:

                     (a)  the Disaster Ready Fund Special Account; and

                     (b)  the investments of the Disaster Ready Fund.

9A  Transitional—investments of the Disaster Ready Fund

Scope

             (1)  This section applies to a financial asset if, immediately before the commencement of this section, the asset was an investment of the Emergency Response Fund.

Investment of the Disaster Ready Fund

             (2)  Immediately after the commencement of this section, the financial asset is taken to become an investment of the Disaster Ready Fund.

47  Sections 10 and 11

Repeal the sections.

48  Section 12

Repeal the section, substitute:

12  Disaster Ready Fund Special Account

             (1)  The Emergency Response Fund Special Account is continued in existence with the new name the Disaster Ready Fund Special Account.

             (2)  The Disaster Ready Fund 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.

49  Division 3 of Part 2 (heading)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

50  Section 13

Omit “Emergency Response Fund Special Account” (wherever occurring), substitute “Disaster Ready Fund Special Account”.

51  Division 4 of Part 2 (heading)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

52  Section 14 (heading)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

53  Section 14

Omit “purpose of the Emergency Response Fund Special Account”, substitute “purpose of the Disaster Ready Fund Special Account”.

54  Paragraph 14(a)

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

55  Section 15 (heading)

Omit “Purposes of the Emergency Response Fund Special Account—purposes related exclusively to the investments etc. of the Emergency Response Fund”, substitute “Purposes of the Disaster Ready Fund Special Account—purposes related exclusively to the investments etc. of the Disaster Ready Fund”.

56  Section 15

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

57  Paragraphs 15(b), (e), (f) and (g)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

58  Section 16 (heading)

Omit “Emergency Response Fund Special Account—purposes not related exclusively to the Emergency Response Fund”, substitute “Disaster Ready Fund Special Account—purposes not related exclusively to the Disaster Ready Fund”.

59  Section 16

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

60  Subparagraph 16(f)(ii)

Omit “Agency; or”, substitute “Agency.”.

61  Subparagraph 16(f)(iii)

Repeal the subparagraph.

62  Section 17 (heading)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

63  Section 17

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

64  Section 17 (note)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

65  Section 18 (heading)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

66  Paragraph 18(1)(a)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

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

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

68  Section 19 (paragraph beginning “Amounts will be transferred from the Emergency Response Fund Special Account to the Home”)

Omit “Emergency Response Fund Special Account to the Home Affairs Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account to the Disaster Ready Fund Payments Special Account”.

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

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

70  Section 19 (paragraph beginning “Amounts will be transferred from the Emergency Response Fund Special Account to the COAG”)

Omit “the Emergency Response Fund Special Account”, substitute “the Disaster Ready Fund Special Account”.

71  Subsection 26(1)

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

72  Division 3 of Part 3 (heading)

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

73  Section 27

Repeal the section, substitute:

27  Disaster Ready Fund Payments Special Account

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

             (2)  The Disaster Ready 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 NEMA is responsible for the Disaster Ready Fund Payments Special Account.

74  Section 28 (heading)

Omit “Emergency Response Fund Special Account to the Home Affairs Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account to the Disaster Ready Fund Payments Special Account”.

75  Subsections 28(1) and (4)

Omit “Emergency Response Fund Special Account to the Home Affairs Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account to the Disaster Ready Fund Payments Special Account”.

76  Paragraph 28(7)(a)

Omit “Emergency Response Fund Special Account to the Home Affairs Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account to the Disaster Ready Fund Payments Special Account”.

77  Paragraph 28(7)(b)

Omit “34(1)”, substitute “34(6)”.

78  Paragraph 28(7)(c)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

79  Paragraph 28(7)(d)

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

80  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 NEMA.

81  Section 28A (heading)

Omit “Emergency Response Fund Special Account to the Home Affairs Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account to the Disaster Ready Fund Payments Special Account”.

82  Subsections 28A(1) and (4)

Omit “Emergency Response Fund Special Account to the Home Affairs Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account to the Disaster Ready Fund Payments Special Account”.

83  Paragraph 28A(7)(a)

Omit “Emergency Response Fund Special Account to the Home Affairs Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account to the Disaster Ready Fund Payments Special Account”.

84  Paragraph 28A(7)(b)

Omit “34(2)”, substitute “34(1) or (7)”.

85  Paragraph 28A(7)(c)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

86  Paragraph 28A(7)(d)

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

87  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 NEMA.

88  Section 29 (heading)

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

89  Section 29

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

90  Section 30 (heading)

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

91  Section 30

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

92  Section 31 (heading)

Omit “Home Affairs Emergency Response Fund Special Account must be transferred to the Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Payments Special Account must be transferred to the Disaster Ready Fund Special Account”.

93  Paragraph 31(1)(a)

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

94  Subparagraph 31(2)(a)(i)

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

95  Subparagraph 31(2)(a)(ii)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

96  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.

97  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 Disaster Ready 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 Disaster Ready 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 Disaster Ready Fund Special Account; and

                     (b)  credited to the COAG Reform Fund.

98  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”.

99  Subsection 32(3)

Omit “34(1)”, substitute “34(6)”.

100  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 NEMA.

101  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 Disaster Ready 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 Disaster Ready 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 Disaster Ready Fund Special Account; and

                     (b)  credited to the COAG Reform Fund.

102  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”.

103  Subsection 32A(3)

Omit “34(2)”, substitute “34(1) or (7)”.

104  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 NEMA.

105  Division 5 of Part 3

Repeal the Division, substitute:

Division 5Limitation on total annual debits from the Disaster Ready Fund Special Account

34  Limitation on total annual debits from the Disaster Ready Fund Special Account

             (1)  The total amount debited from the Disaster Ready Fund Special Account under sections 28A and 32A during:

                     (a)  the financial year beginning on 1 July 2023; or

                     (b)  a later financial year;

must not exceed:

                     (c)  $200 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).

             (5)  In making a determination under subsection (2) or (3), the responsible Ministers must have regard to:

                     (a)  the advice given by the Future Fund Board under section 34A in relation to the impact of the making of the determination on the ability of the Future Fund Board to comply with this Act and the Disaster Ready Fund Investment Mandate; and

                     (b)  such other matters (if any) as the responsible Ministers consider relevant.

Financial year beginning on 1 July 2022

             (6)  The total amount debited from the Disaster Ready Fund Special Account under sections 28 and 32 during the financial year beginning on 1 July 2022 must not exceed $150 million.

             (7)  The total amount debited from the Disaster Ready Fund Special Account under sections 28A and 32A during the financial year beginning on 1 July 2022 must not exceed $50 million.

Review

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

34A  Determinations—advice given by the Future Fund Board

             (1)  Before making a determination under subsection 34(2) or (3), the responsible Ministers must give the Future Fund Board a written notice that:

                     (a)  sets out a draft of the determination; and

                     (b)  requires the Future Fund Board to:

                              (i)  give advice to those Ministers about the impact of the making of the determination on the ability of the Future Fund Board to comply with this Act and the Disaster Ready Fund Investment Mandate; and

                             (ii)  do so within the period specified in the notice; and

                     (c)  requires the Future Fund Board, in giving that advice, to have regard to:

                              (i)  the Disaster Ready Fund Investment Mandate; and

                             (ii)  such other matters (if any) as are specified in the notice.

             (2)  The Future Fund Board must comply with a requirement in a notice under subsection (1).

             (3)  A period specified under subparagraph (1)(b)(ii) must not be shorter than 60 days after the notice is given.

             (4)  A matter specified under subparagraph (1)(c)(ii) must not be inconsistent with:

                     (a)  this Act; or

                     (b)  the Disaster Ready Fund Investment Mandate.

             (5)  Paragraph (1)(c) does not, by implication, limit the matters to which the Future Fund Board may have regard.

106  Part 4 (heading)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

107  Section 35 (paragraph beginning “The Future Fund Board is responsible”)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

108  Section 35 (paragraph beginning “Investments of”)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

109  Section 35 (paragraph beginning “The Future Fund Board is bound”)

Omit “Emergency Response Fund Investment Mandate”, substitute “Disaster Ready Fund Investment Mandate”.

110  Section 36 (heading)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

111  Subsection 36(1)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

112  Subsection 36(2)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

113  Section 37 (heading)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

114  Subsection 37(1)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

115  Subsection 37(3)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

116  Section 38 (heading)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

117  Subsection 38(1)

Omit “Emergency Response Fund is to be credited to the Emergency Response Fund Special Account”, substitute “Disaster Ready Fund is to be credited to the Disaster Ready Fund Special Account”.

118  Subsection 38(2)

Omit “Emergency Response Fund is to be credited to the Emergency Response Fund Special Account”, substitute “Disaster Ready Fund is to be credited to the Disaster Ready Fund Special Account”.

119  Subsection 38(3)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

120  Subsection 38(4)

Omit “Emergency Response Fund” (first occurring), substitute “Disaster Ready Fund”.

121  Subsection 38(4)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

122  Subsection 38(5)

Omit “Emergency Response Fund” (wherever occurring), substitute “Disaster Ready Fund”.

123  Subsection 38(6)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

124  Section 39 (heading)

Omit “Emergency Response Fund Investment Mandate”, substitute “Disaster Ready Fund Investment Mandate”.

125  Subsection 39(1)

Omit “Emergency Response Fund investment functions”, substitute “Disaster Ready Fund investment functions”.

126  Subsection 39(1) (note 1)

Omit “Emergency Response Fund investment function”, substitute “Disaster Ready Fund investment function”.

127  Paragraph 39(2)(a)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

128  Subsection 39(3)

Omit “Emergency Response Fund Investment Mandate”, substitute “Disaster Ready Fund Investment Mandate”.

129  Section 40

Omit “Emergency Response Fund investment function”, substitute “Disaster Ready Fund investment function”.

130  Section 40

Omit “Emergency Response Fund over”, substitute “Disaster Ready Fund over”.

131  Section 41 (heading)

Omit “Emergency Response Fund Investment Mandate”, substitute “Disaster Ready Fund Investment Mandate”.

132  Paragraph 41(1)(a)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

133  Section 42 (heading)

Omit “Emergency Response Fund Investment Mandate”, substitute “Disaster Ready Fund Investment Mandate”.

134  Section 43 (heading)

Omit “Emergency Response Fund Investment Mandate”, substitute “Disaster Ready Fund Investment Mandate”.

135  Section 43

Omit “Emergency Response Fund Investment Mandate” (wherever occurring), substitute “Disaster Ready Fund Investment Mandate”.

136  Subsection 44(1)

Omit “Emergency Response Fund investment functions”, substitute “Disaster Ready Fund investment functions”.

137  Section 45

Omit “Emergency Response Fund” (wherever occurring), substitute “Disaster Ready Fund”.

138  Section 46 (heading)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

139  Subsection 46(1)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

140  Subsections 46(2) and (6)

Omit “Emergency Response Fund Investment Mandate”, substitute “Disaster Ready Fund Investment Mandate”.

141  Section 47

Omit “Emergency Response Fund” (wherever occurring), substitute “Disaster Ready Fund”.

142  Section 48

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

143  Subsection 49(1)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

144  Subsection 49(2)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

145  Subsections 49(3) and (4)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

146  Section 50

Omit “Emergency Response Fund” (wherever occurring), substitute “Disaster Ready Fund”.

147  Section 51

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

148  Paragraph 51(b)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

149  Section 52

Omit “Emergency Response Fund” (wherever occurring), substitute “Disaster Ready Fund”.

150  Subsection 59(1)

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

151  Paragraph 61(1)(a)

Repeal the paragraph, substitute:

                     (a)  the accountable authority of the NEMA; or

152  Paragraph 61(1)(b)

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

153  Paragraph 61(3)(a)

Repeal the paragraph, substitute:

                     (a)  the accountable authority of the NEMA; or

154  Paragraph 61(3)(b)

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

155  Section 62

Repeal the section.

Part 2Consequential amendments

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

156  Subparagraph 16(a)(ia)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

157  Subparagraph 16(b)(ia)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

158  Subparagraph 16(c)(ia)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

COAG Reform Fund Act 2008

159  Subsection 5(2) (note 2AC)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

160  Subsection 5(2) (note 2AC)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

161  Paragraph 7(1)(bac)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

162  Subsection 7(3) (note 1AC)

Omit “Emergency Response Fund established by”, substitute “Disaster Ready Fund referred to in”.

163  Subsection 7(3) (note 1AC)

Omit “Emergency Response Fund Act 2019” (wherever occurring), substitute “Disaster Ready Fund Act 2019”.

DisabilityCare Australia Fund Act 2013

164  Subparagraph 16(a)(ia)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

165  Subparagraph 16(b)(ia)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

166  Subparagraph 16(c)(ia)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

Future Drought Fund Act 2019

167  Subparagraph 17(a)(iia)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

168  Subparagraph 17(b)(iia)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

169  Subparagraph 17(c)(iia)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

Future Fund Act 2006

170  Section 4 (note)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

171  Section 5

Insert:

Disaster Ready Fund means the Disaster Ready Fund referred to in section 9 of the Disaster Ready Fund Act 2019.

Disaster Ready Fund Special Account means the Disaster Ready Fund Special Account referred to in section 12 of the Disaster Ready Fund Act 2019.

172  Section 5 (definition of Emergency Management Minister)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

173  Section 5

Repeal the following definitions:

                     (a)  definition of Emergency Response Fund;

                     (b)  definition of Emergency Response Fund Special Account.

174  Section 13 (note 2A)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

175  Paragraph 28(5)(bab)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

176  Paragraph 28(5)(ga)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

177  Section 33 (note)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

178  Subparagraph 35(b)(iiia)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

179  Paragraph 55(3)(ba)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

180  Paragraph 63(1)(ca)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

181  Paragraph 63(2)(aba)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

182  Subsection 81(1DA) (heading)

Repeal the heading, substitute:

Disaster Ready Fund

183  Paragraph 81(1DA)(a)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

184  Paragraph 81(1DA)(b)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

185  Paragraph 81(1DA)(b)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

186  Paragraph 81(1DA)(c)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

187  Paragraph 81(1DA)(c)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

188  Paragraph 81(1DA)(d)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

189  Paragraph 81(1DA)(d)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

190  Paragraph 81(1DA)(e)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

191  Paragraph 81(1DA)(e)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

192  Paragraph 83B(1)(daa)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

193  Subparagraph 84(1)(b)(iiaa)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

194  Subparagraph 84(1)(b)(viia)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

195  Subsection 84(4AA) (heading)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

196  Paragraph 84(4AA)(b)

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

197  Subparagraph 2(2)(a)(via) of Schedule 2

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

198  Subparagraph 2(2)(b)(via) of Schedule 2

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

199  Subparagraph 2(2)(c)(via) of Schedule 2

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

200  Clause 1 of Schedule 2A

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

201  Clause 5A of Schedule 2A (heading)

Omit “Emergency Response Fund”, substitute “Disaster Ready Fund”.

202  Subclause 5A(1) of Schedule 2A

Omit “Emergency Response Fund Special Account” (first occurring), substitute “Disaster Ready Fund Special Account”.

203  Subclause 5A(1) of Schedule 2A

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

204  Paragraph 5A(1)(b) of Schedule 2A

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

205  Subclause 5A(2) of Schedule 2A

Omit “Emergency Response Fund Special Account”, substitute “Disaster Ready Fund Special Account”.

Medical Research Future Fund Act 2015

206  Subparagraph 19(a)(ib)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

207  Subparagraph 19(b)(ib)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

208  Subparagraph 19(c)(ib)

Omit “Emergency Response Fund Act 2019”, substitute “Disaster Ready Fund Act 2019”.

Part 3Transitional and application provisions

209  Application—copies of directions

The amendments made by items 80F, 86, 95, 96B and 99 apply in relation to a direction given after the commencement of this item.

210  Transitional—annual report

(1)       This item applies if:

                     (a)  a part of a period mentioned in subsection 81(1) of the Future Fund Act 2006 occurred before the commencement of this item; and

                     (b)  the remainder of the period occurred after the commencement of this item.

(2)       A report under subsection 81(1) of the Future Fund Act 2006 for the period must include a report of the following during so much of the period as occurred before the commencement of this item:

                     (a)  the performance of the investments of the Emergency Response Fund;

                     (b)  the total amount debited from the Emergency Response Fund Special Account for the purpose mentioned in paragraph 15(d) of the Emergency Response Fund Act 2019;

                     (c)  the total amount debited from the Emergency Response Fund Special Account for the purpose mentioned in paragraph 16(d) of the Emergency Response Fund Act 2019;

                     (d)  the total amount debited from the Emergency Response Fund Special Account for the purpose mentioned in paragraph 16(e) of the Emergency Response Fund Act 2019;

                     (e)  the total amount debited from the Emergency Response Fund Special Account for the purpose mentioned in paragraph 16(f) of the Emergency Response Fund Act 2019.

Schedule 2Amendments commencing on 1 July 2023

Part 1Amendments

Emergency Response Fund Act 2019

1  Paragraph 14(a)

Omit “28 or”.

2  Paragraph 14(b)

Omit “32 or”.

3  Subsection 20(1)

Repeal the subsection.

4  Subsections 20(2), (3) and (4)

Omit “(1) or”.

5  Subsection 20(5)

Omit “Subsections (1) and (1A) do”, substitute “Subsection (1A) does”.

6  Subsections 20(6) and (7)

Repeal the subsections.

7  Section 28

Repeal the section.

8  Paragraph 28A(7)(b)

Omit “or (6)”.

9  Section 32

Repeal the section.

10  Subsection 32A(3)

Omit “or (6)”.

11  Section 33

Omit “32(1)(b) or”.

12  Subsections 34(6) and (7)

Repeal the subsections.

13  Subsection 36(1)

Omit “28,”.

14  Subsection 36(1)

Omit “, 32”.

15  Subsection 59(1)

Omit “28,”.

16  Subsection 59(1)

Omit “, 32”.

17  Subsection 61(3)

Omit “28,”.

18  Subsection 61(3)

Omit “, 32”.

Part 2Transitional provisions

19  Transitional—pre‑commencement arrangements and grants

(1)       If an arrangement made under subsection 20(1) of the Emergency Response Fund Act 2019 was in force immediately before the commencement of this item:

                     (a)  the repeal of that subsection by this Schedule does not affect the continuity of the arrangement; and

                     (b)  sections 22 and 23 of the Disaster Ready Fund Act 2019 continue to apply, after the commencement of this item, in relation to the arrangement.

(2)       If a grant was made under subsection 20(1) of the Emergency Response Fund Act 2019 before the commencement of this item:

                     (a)  the repeal of that subsection by this Schedule does not affect the continuity of an agreement made under subsection 21(2) of that Act in relation to the grant; and

                     (b)  sections 21, 22 and 23 of the Disaster Ready Fund Act 2019 continue to apply, after the commencement of this item, in relation to the grant.