DETERMINATION BY THE MINISTER FOR FINANCE AND ADMINISTRATION UNDER SECTION 20 OF THE FINANCIAL MANAGEMENT AND ACCOUNTABILITY ACT 1997

PSS Special Account

I, Nick Minchin, Minister for Finance and Administration, pursuant to section 20 of the Financial Management and Accountability Act 1997, hereby:

(1)          establish a Special Account to be called the PSS Special Account ('the Account');

(2)          determine that the following amounts may be credited to the Account:

(a)           amounts appropriated for the purposes of the Account;

(b)           amounts received by ComSuper as revenue in the course of the performance by the Commissioner of Superannuation of functions relating to the PSS Scheme;

(c)           amounts received by ComSuper in relation to the administration by the PSS Board of the PSS Scheme;

(d)           amounts paid from the PSS Fund in respect of expenditure that is:

(i)       incurred by the PSS Board in relation to the management or investment of the PSS Fund; and

(ii)     is to be met from the Account;

(3)          determine that amounts may be debited to the Account for expenditure relating to:

(a)           the administration of the PSS Scheme by the PSS Board;

(b)           the performance of any other function conferred on the PSS Board under legislation; or

(c)           the management and investment of the PSS Fund by the PSS Board, where a corresponding amount has been or is to be credited to the Account from the PSS Fund in respect of such expenditure; and

(4)          determine that no credits to, or debits of, the Account take place before 1 July 2002

Nick Minchin

Minister for Finance and Administration

14 June 2002