SECTION 20 OF THE FINANCIAL MANAGEMENT AND ACCOUNTABILITY ACT 1997

DETERMINATION TO ESTABLISH COMPONENT OF THE RESERVED MONEY FUND

I, Graham Millar, Branch Manager, Financial Framework, pursuant to powers delegated to me by the Finance Chief Executive under section 53 of the Financial Management and Accountability Act 1997, determine, for the purposes of section 20 of that Act, that the Department of Finance and Administration - The Comcover Reserve is established as a component of the Reserved Money Fund.

I further determine that:

(a)      amounts of the following kinds may be transferred from the Consolidated Revenue Fund to this component:

§         all money appropriated by law for the purpose of payment into the component;

§         all money received in consideration for any service, benefit, activity, transaction or other matter which is congruent with the expenditure purposes of the component;

§         all money paid to the Commonwealth by any person for the expenditure purposes of the component; and,

(b)     the purposes for which amounts may be debited to the component are:

§         for expenditure relating to the administration of Comcover, including direct and indirect costs (both recurrent and capital) for staff and the Advisory Board;

§         for expenditure in relation to Comcover’s operations in meeting liabilities that arise from its function as the Commonwealth’s insurable risk claims manager.

Graham Millar

Delegate of the Finance Chief Executive

7/4/98