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                                 26 July 2006

Nick Minchin

1              Name of Determination

                This Determination is the Financial Management and Accountability Determination 2006/17 — Artbank 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 Financial Management and Accountability Act 1997. 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

                Schedule 1 varies the determination entitled Initial Determination to Establish Components of the Commercial Activities Fund which established, among others, the Artbank Account.

4              Abolition

                The Artbank 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 Artbank Account reaches zero.

Schedule 1        Variation

(section 3)

Do not delete : Schedule Part Placeholder

[1]           Determination, attachment, Department of Communications and the Arts, item for Artbank, second column

omit

For expenditure on programs and operations of ARTBANK.

insert

(1) For expenditure on programs and operations of ARTBANK.

(2) To credit amounts to the Art Rental Special Account.