I, NICK MINCHIN, Minister for Finance and Administration, make this Determination under subsections 20 (2) and (3) of the Financial Management and Accountability Act 1997.

Dated   3 May 2006

NICK MINCHIN

1              Name of Determination

                This Determination is the Financial Management and Accountability Determination 2006/01 — Royal Australian Mint and Coinage Account Variation and Abolition 2006.

2              Commencement

                This Determination commences at the time at which subsection 22 (4) of the Financial Management and Accountability Act 1997 is complied with.

Note       This Determination takes effect in accordance with section 22 of the FMA Act. The Parliament must consider the Determination before it can take effect, and either House may pass a resolution disallowing the Determination. If neither House passes such a resolution, the Determination takes effect on the day immediately after the last day upon which such a resolution could have been passed.

3              Variation of Initial Determination to Establish Components of the Commercial Activities Fund

                Schedule 1 varies the determination entitled Initial Determination to Establish Components of the Commercial Activities Fund that established the Royal Australian Mint and Coinage Account as well as other Accounts.

4              Abolition of Royal Australian Mint and Coinage Account

                The Royal Australian Mint and Coinage Account is abolished with effect from the time at which:

(a)              Schedule 1 has taken effect; and

(b)             the balance of the appropriation for the Royal Australian Mint and Coinage Account reaches zero.

Schedule 1        Variation

(section 3)

Do not delete : Schedule Part Placeholder

[1]           Determination, attachment, Department of the Treasury, item for Royal Australian Mint and Coinage, second column

omit

(i)                  Payments for goods and services and salaries, wages and all other expenses incurred for the production, supply, sale and distribution of coinage, medals, dies, tokens, plaques and other like items, and

(2)        Repayment of capital funds and payment of moneys in excess of requirements to the Official Public Account.

insert

                                                (i)            Payments for goods and services and salaries, wages and all other expenses incurred for the production, supply, sale and distribution of coinage, medals, dies, tokens, plaques and other like items; and

                                              (ii)            Repayment of capital funds and payment of moneys in excess of requirements to the Official Public Account; and

                                             (iii)            To credit amounts to the Minting and Coinage Special Account.