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                        8 November 2006

NICK MINCHIN

1              Name of Determination

                This Determination is the Financial Management and Accountability Determination 2006/80 — Financial Action Task Force – Asia Pacific Group Secretariat 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 Determination to Establish Component of the Reserved Money Fund, signed on 7 April 1998, which established the Financial Action Task Force – Asia Pacific Group Secretariat Account.  

4              Abolition

                The Financial Action Task Force – Asia Pacific Group Secretariat 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 Financial Action Task Force – Asia Pacific Group Secretariat Account reaches zero.

Schedule 1        Variation

(section 3)

Do not delete : Schedule Part Placeholder

[1]           Paragraph (b), after dot point

insert

§         To credit amounts to the Asia/Pacific Group on Money Laundering Special Account.