Commencement information
Column 1	Column 2	Column 3
Provision(s)	Commencement	Date/Details
1. Sections 1 to 4 and anything in this Act not elsewhere covered by this table	The day on which this Act receives the Royal Assent.
2. Schedule 1, items 1 to 440	The day on which this Act receives the Royal Assent.
3. Schedule 1, item 441	1 July 2005.	1 July 2005
4. Schedule 1, items 442 and 443	The day on which this Act receives the Royal Assent.
5. Schedule 1, item 444	1 July 2005.	1 July 2005
6. Schedule 1, items 445 to 455	The day on which this Act receives the Royal Assent.
7. Schedule 1, items 456 and 457	1 July 2005.	1 July 2005
8. Schedule 1, items 458 to 490	The day on which this Act receives the Royal Assent.
9. Schedule 1, items 491 and 492	1 July 2005.	1 July 2005
10. Schedule 1, items 493 to 496	The day on which this Act receives the Royal Assent.
11. Schedule 2, items 1 to 10	The later of: (a) the start of the day on which this Act receives the Royal Assent; and (b) immediately after the commencement of Schedule 1 to the Aboriginal and Torres Strait Islander Commission Amendment Act 2004. However, the provision(s) do not commence at all if the event mentioned in paragraph (b) does not occur.
12. Schedule 2, items 11 to 174	The day on which this Act receives the Royal Assent.
13. Schedule 3	The day on which this Act receives the Royal Assent.

Note: This table relates only to the provisions of this Act as originally passed by the Parliament and assented to. It will not be expanded to deal with provisions inserted in this Act after assent.

(2) Column 3 of the table contains additional information that is not part of this Act. Information in this column may be added to or edited in any published version of this Act.

3 Schedule(s)

Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

4 Saving of matters in Part 2 of Schedule 1

(1) If:

(a) a decision or action is taken or another thing is made, given or done; and

(b) the thing is taken, made, given or done under a provision of a Part 2 Act that had effect immediately before the commencement of this Act;

then the thing has the corresponding effect, for the purposes of the Part 2 Act as amended by this Act, as if it had been taken, made, given or done under the Part 2 Act as so amended.

(2) In this section:

Part 2 Act means an Act that is amended by an item in Part 2 of Schedule 1.

Schedule 1—Amendments relating to the Financial Management Legislation Amendment Act 1999 and Special Accounts

Part 1—Removal of references to Loan Fund

Acts Interpretation Act 1901

1 Paragraph 17(ka)

Repeal the paragraph.

Higher Education Funding Act 1988

2 Sections 114 and 117

Repeal the sections.

3 Subsection 118(1)

Omit “and the Loan Fund are”, substitute “is”.

Housing Assistance Act 1978

4 Section 8

Omit “to the Consolidated Revenue Fund in accordance with section 10”, substitute “and advances to the States for the purposes of this Part”.

5 Section 9

Omit “to the Consolidated Revenue Fund in accordance with section 10, and the Loan Fund is appropriated, as necessary, for those purposes”, substitute “and advances to the States for the purposes of this Part”.

6 Section 10

Repeal the section.

Housing Assistance Act 1981

7 Section 12

Omit “to the Consolidated Revenue Fund in accordance with section 14”, substitute “and advances to the States for the purposes of this Act”.

8 Section 13

Omit “to the Consolidated Revenue Fund in accordance with section 14, and the Loan Fund is appropriated, as necessary, for those purposes”, substitute “and advances to the States for the purposes of this Act”.

9 Section 14

Repeal the section.

Housing Assistance Act 1984

10 Section 13

Omit “to the Consolidated Revenue Fund in accordance with section 15”, substitute “and advances to the States for the purposes of this Act”.

11 Section 14

Omit “to the Consolidated Revenue Fund in accordance with section 15, and the Loan Fund is appropriated, as necessary, for those purposes”, substitute “and advances to the States for the purposes of this Act”.

12 Section 15

Repeal the section.

Loan (Temporary Revenue Deficits) Act 1953

13 Section 3

Repeal the section.

14 Section 4

Omit “moneys standing to the credit of the Loan Fund”, substitute “amounts in the Consolidated Revenue Fund”.

15 Section 4

Omit “under the last preceding section”.

Loans (Australian Industry Development Corporation) Act 1974

16 Subsection 7(4)

Omit “Loan Fund”, substitute “Consolidated Revenue Fund”.

Sewerage Agreements Act 1973

17 Section 4

Omit “or out of the Loan Fund”.

18 Section 6

Omit “borrowing,”, substitute “borrowing and”.

19 Section 6

Omit “and for the purpose of making payments to the Consolidated Revenue Fund in accordance with section 7”.

20 Section 7

Repeal the section.

21 Section 8

Omit “and the Loan Fund are”, substitute “is”.

Sewerage Agreements Act 1974

22 Section 6

Omit “or out of the Loan Fund”.

23 Subsection 8(1)

Omit “borrowing,”, substitute “borrowing and”.

24 Subsections 8(1) and (2)

Omit “and for the purpose of making payments to the Consolidated Revenue Fund in accordance with section 9”.

25 Section 9

Repeal the section.

26 Section 10

Omit “and the Loan Fund are”, substitute “is”.

States Grants (Primary and Secondary Education Assistance) Act 1992

27 Sections 112 and 115

Repeal the sections.

28 Section 116

Omit “and Loan Fund are”, substitute “is”.

States Grants (Primary and Secondary Education Assistance) Act 1996

29 Sections 84 and 87

Repeal the sections.

30 Section 88

Omit “and Loan Fund are”, substitute “is”.

States (Works and Housing) Assistance Act 1982

31 Section 9

Omit “or the Loan Fund”.

Note: The heading to section 9 is altered by omitting “or Loan Fund”.

32 Section 11

Omit “borrowing,”, substitute “borrowing and”.

33 Section 11

Omit “and for the purposes of making payments to the Consolidated Revenue Fund in accordance with section 12”.

34 Section 12

Repeal the section.

35 Section 13

Omit “and the Loan Fund are”, substitute “is”.

States (Works and Housing) Assistance Act 1983

36 Section 14

Omit “or the Loan Fund”.

Note: The heading to section 14 is altered by omitting “or Loan Fund”.

37 Section 16

Omit “borrowing,”, substitute “borrowing and”.

38 Section 16

Omit “and for the purposes of making payments to the Consolidated Revenue Fund in accordance with section 17”.

39 Section 17

Repeal the section.

40 Section 18

Omit “and the Loan Fund are”, substitute “is”.

States (Works and Housing) Assistance Act 1984

41 Section 14

Omit “or the Loan Fund”.

Note: The heading to section 14 is altered by omitting “or Loan Fund”.

42 Section 16

Omit “borrowing,”, substitute “borrowing and”.

43 Section 16

Omit “and for the purposes of making payments to the Consolidated Revenue Fund in accordance with section 17”.

44 Section 17

Repeal the section.

45 Section 18

Omit “and the Loan Fund are”, substitute “is”.

States (Works and Housing) Assistance Act 1985

46 Section 14

Omit “or the Loan Fund”.

Note: The heading to section 14 is altered by omitting “or Loan Fund”.

47 Section 16

Omit “borrowing,”, substitute “borrowing and”.

48 Section 16

Omit “and for the purposes of making payments to the Consolidated Revenue Fund in accordance with section 17”.

49 Section 17

Repeal the section.

50 Section 18

Omit “and the Loan Fund are”, substitute “is”.

States (Works and Housing) Assistance Act 1988

51 Section 12

Omit “or the Loan Fund”.

Note: The heading to section 12 is altered by omitting “or Loan Fund”.

52 Section 14

Omit “borrowing,”, substitute “borrowing and”.

53 Section 14

Omit “and for the purposes of making payments to the Consolidated Revenue Fund in accordance with section 15”.

54 Section 15

Repeal the section.

55 Section 16

Omit “and the Loan Fund are”, substitute “is”.

Vocational Education and Training Funding Act 1992

56 Sections 10 and 13

Repeal the sections.

57 Section 14

Omit “and the Loan Fund are”, substitute “is”.

Part 2—Special Accounts and references to paid to the Consolidated Revenue Fund

Aboriginal Land (Lake Condah and Framlingham Forest) Act 1987

58 Section 38

Repeal the section, substitute:

38 Credit of amounts to and debits from Accounts

(1) The Accounts referred to in subsections (2), (4) and (6) are Special Accounts for the purposes of the Financial Management and Accountability Act 1997.

Condah Land Account

(2) There is continued in existence the Condah Land Account.

Note: The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

(3) There must be credited to the Condah Land Account, from time to time, amounts determined by the regulations.

Framlingham Forest Account

(4) There is continued in existence the Framlingham Forest Account.

Note: The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

(5) There must be credited to the Framlingham Forest Account, from time to time, amounts determined by the regulations.

Aboriginal Advancement Account

(6) The Aboriginal Advancement Account is established for the purpose of furthering the social and economic advancement of Aboriginal people living in Victoria.

(7) The amount standing to the credit of the Condah Land Account must be applied as follows:

(a) one-half must be debited and paid by the Commonwealth to an Aboriginal Corporation nominated by the Minister;

(b) one-half must be debited for crediting under subsection (8).

(8) Whenever an amount is debited from the Condah Land Account under paragraph (7)(b), an equal amount must be credited to the Aboriginal Advancement Account.

(9) The amount standing to the credit of the Framlingham Forest Account must be applied as follows:

(a) one-half must be debited and paid by the Commonwealth to the Kirrae Whurrong Aboriginal Corporation;

(b) one-half must be debited for crediting under subsection (10).

(10) Whenever an amount is debited from the Framlingham Forest Account under paragraph (9)(b), an equal amount must be credited to the Aboriginal Advancement Account.

(11) The Minister may debit the Aboriginal Advancement Account for the purpose mentioned in subsection (6). Amounts equal to the amounts debited are paid by the Commonwealth.

(12) The Minister may, at any time, direct that, from a specified date:

(a) amounts standing to the credit of the Aboriginal Advancement Account at that date are to be debited and paid by the Commonwealth to; and

(b) one-half of the royalties credited to the Condah Land Account or the Framlingham Forest Account (which would otherwise be debited from the Account under paragraph (7)(b) or (9)(b)) are to be debited and paid by the Commonwealth to;

a body nominated by that Minister that is representative of Aboriginals and is established and administered by Aboriginals for the advancement of Aboriginals.

(13) If interest is received by the Commonwealth from the investment of an amount standing to the credit of an Account continued in existence or established by or under this section, an amount equal to the interest must be credited to that Account.

Aboriginal Land Rights (Northern Territory) Act 1976

59 Subsection 3(1)

Insert:

Account means the Aboriginals Benefit Account continued in existence by section 62.

60 Subsection 3(1) (definition of Reserve)

Repeal the definition.

61 Subsection 35(2A)

Omit “64(7)”, substitute “64(8)”.

62 Part VI (heading)

Repeal the heading, substitute:

Part VI—Aboriginals Benefit Account

63 Sections 62 and 62A

Repeal the sections, substitute:

62 Aboriginals Benefit Account

(1) There is continued in existence the Aboriginals Benefit Account.

Note: The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

(2) The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

(3) If interest is received by the Commonwealth from the investment of an amount standing to the credit of the Account, an amount equal to the interest must be credited to the Account.

64 Sections 63, 64 and 64A

Repeal the sections, substitute:

63 Credit of amounts to Account

(1) Subject to subsection (2), there must be credited to the Account, from time to time, amounts equal to the amounts of any royalties received by the Commonwealth or the Northern Territory in respect of a mining interest in Aboriginal land.

(2) If, because of an increase in the rate of royalty since 26 January 1977, an amount of royalties received by the Commonwealth in respect of a mining interest in the area of Aboriginal land described in Schedule 5 is higher than the amount that, but for that increase, the Commonwealth would have received in respect of that mining interest, such part only of the increase in the amount of those royalties as is determined by the Minister is to be taken into account in calculating the amount to be credited to the Account under subsection (1) in respect of those royalties.

(3) If:

(a) after 17 January 1990, a mining interest in respect of Aboriginal land in the Northern Territory has been granted under:

(i) subsection 51(1A) of the Lands Acquisition Act 1955 in so far as it applies by virtue of subsection 124(8) of the Lands Acquisition Act 1989; or

(ii) regulations made for the purposes of subsection 124(1) of the Lands Acquisition Act 1989; and

(b) because of an increase in the rate of royalty since the grant of the mining interest, an amount of royalties received by the Commonwealth in respect of the mining interest is higher than the amount that, but for that increase, the Commonwealth would have received in respect of that mining interest;

such part only of the increase in the amount of those royalties as is determined by the Minister is to be taken into account in calculating the amount to be credited to the Account under subsection (1) in respect of those royalties.

(4) If mining operations for minerals are carried on under the Atomic Energy Act 1953 or any other Act on Aboriginal land by, or on behalf of, the Commonwealth, the Northern Territory or an Authority, there must be credited to the Account, from time to time, payments in respect of those mining operations of such amounts as are determined in accordance with subsection (5).

(5) Amounts payable under subsection (4) are:

(a) such amounts as would be payable to the Crown as royalties if the mining operations were carried on in accordance with the law of the Northern Territory relating to mining for minerals and the royalties were payable at the rate fixed by that law immediately before 26 January 1977; or

(b) if the Minister administering the Act under which the mining operations are carried on and the Minister administering this Act jointly determine that amounts higher than the amounts referred to in paragraph (a) are to be payable under subsection (4) in respect of particular mining operations—the amounts so determined.

(6) There must be credited to the Account amounts equal to any money paid by any person to the Commonwealth for the purposes of the Account.

(7) There must be credited to the Account amounts equal to any amounts from time to time received by the Commonwealth as interest on, or as repayment of, any loan made under subsection 64(4).

64 Debits from the Account

(1) There must be debited from the Account from time to time, and paid by the Commonwealth for distribution between or among the Land Councils in such proportions as the Minister determines having regard to the number of Aboriginals living in the area of each Council, an amount equal to 40% of the amounts credited to the Account in accordance with subsection 63(1) or (4).

(2) If the distribution referred to in subsection (1) is between 2 Land Councils only, the Minister must determine the proportions for the purposes of that distribution as 50% for each Council.

(3) There must be debited from the Account and paid by the Commonwealth, from time to time, to each Land Council in the area of which a mining interest referred to in subsection 63(1) is situated, or mining operations referred to in subsection 63(4) are being carried on, an amount equal to 30% of any amounts:

(a) credited to the Account in accordance with subsection 63(1) in respect of that mining interest; or

(b) credited to the Account in accordance with subsection 63(4) in respect of those mining operations;

as the case may be.

(4) There must be debited from the Account and paid by the Commonwealth such other amounts as the Minister directs to be paid or applied to or for the benefit of Aboriginals living in the Northern Territory.

(5) A payment of an amount debited from the Account under subsection (4) may be by way of a loan (whether secured or unsecured) by the Commonwealth on such conditions as the Minister thinks fit.

(6) There must be debited from the Account and paid by the Commonwealth such amounts to meet the expenses of administering the Account as the Minister directs.

(7) Amounts that the Minister directs to be debited from the Account under subsection (4) or (6) must be paid or applied in accordance with the direction.

(8) Where, at any time, the Minister is satisfied that a Land Council is, or may be, unable to meet its administrative costs, in accordance with section 34, from money that is, or may become, available to it for the purpose, the Minister may direct that such amount as the Minister specifies in the direction must be paid to the Land Council by the Commonwealth and debited from the Account for the purpose of meeting those costs.

64A Debit of additional amounts from Account

(1) The Minister may, in his or her discretion, from time to time, by written instrument, direct the debit from the Account of such amounts as he or she specifies in the direction.

(2) If the Minister directs, under subsection (1), the debit of a specified amount from the Account, neither subsection 221ZB(1) of the Income Tax Assessment Act 1936 nor section 12-320 in Schedule 1 to the Taxation Administration Act 1953 applies in relation to the debit of that amount. But there must also be debited from the Account such additional amount as would be necessary to discharge any liability for mining withholding tax in accordance with Division 11C of Part III of the Income Tax Assessment Act 1936 in respect of the first-mentioned amount. The debit of that additional amount discharges that liability.

(3) The Minister must, in a direction under subsection (1), specify, in relation to each amount that he or she directs be debited from the Account:

(a) that the amount is to be taken, for the purposes of this section, to have been debited from the Account in relation to a specified Land Council; or

(b) that specified amounts that are, in the aggregate, equal to that amount are to be respectively taken, for the purposes of this section, to have been debited from the Account in relation to specified Land Councils.

(4) If, in consequence of a direction by the Minister under subsection (1) that an amount be debited from the Account, an additional amount is also debited from the Account in accordance with subsection (2), the Minister must, by written instrument, direct, in relation to that additional amount:

(a) that the additional amount is to be taken, for the purposes of this section, to have been debited from the Account in relation to a specified Land Council; or

(b) that specified amounts that are, in the aggregate, equal to the additional amount are to be respectively taken for the purposes of this section, to have been debited from the Account in relation to specified Land Councils.

(5) The Minister must, in specifying under subsection (3) that an amount is to be taken, for the purposes of this section, to have been debited from the Account in relation to a specified Land Council, ensure that the aggregate of that amount and the amount or amounts (if any) specified in a previous direction or previous directions under subsection (1) in relation to that Land Council does not exceed the total of the amounts paid by the Commonwealth, after 30 June 1978, to that Land Council for the purpose of meeting the administrative costs of that Land Council.

(6) An amount that is to be taken for the purposes of this section to have been debited from the Account in respect of a particular Land Council must nonetheless be taken into account for the purposes of subsection 64(1) as if it had been debited from the Account and paid by the Commonwealth in accordance with that subsection to the Land Council.

(7) The reference in subsection (5) to amounts paid by the Commonwealth to a Land Council for the purpose of meeting the administrative costs of that Land Council does not include a reference to:

(a) any amount that is paid to that Land Council under an agreement under subsection 44(1) or (2); or

(b) any amount that is paid to that Land Council out of the appropriation made by item 07 of subdivision 3 of Division 640 of the Appropriation Act (No. 1) 1978-79; or

(c) any amount that is paid to that Land Council out of the appropriation made by subdivision 1 of Division 815 of the Appropriation Act (No. 4) 1980-81; or

(d) any amount that is paid to that Land Council out of the appropriation made by item 09 of subdivision 3 of Division 120 of the Appropriation Act (No. 1) 1981-82; or

(e) any other amount that is paid to that Land Council for that purpose by the Commonwealth and that the Minister determines, by written instrument, should not be taken into account for the purposes of this section.

65 Subsection 64B(1)

Omit “Reserve”, substitute “Account”.

66 Subsection 65(1)

Omit “a Reserve (first occurring)”, substitute “an Account”.

Note: The heading to section 65 is altered by omitting “Reserve” and substituting “Account”.

67 Subsection 65(1)

Omit “the making of payments out of the Reserve”, substitute “debiting the Account for the purposes of making payments”.

68 Subsections 65(2) and (3)

Omit “Reserve”, substitute “Account”.

69 Schedule 5

Omit “Subsection 63(3)”, substitute “Subsection 63(2)”.

Acts Interpretation Act 1901

70 Paragraph 17(kb)

Repeal the paragraph.

AeroSpace Technologies of Australia Limited Sale Act 1994

71 Subsection 14(4)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Agricultural and Veterinary Chemicals (Administration) Act 1992

72 Paragraph 58(2)(aa)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

73 Paragraph 58(2)(ab)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Agricultural and Veterinary Chemical Products (Collection of Interim Levy) Act 1994

74 Section 16

Repeal the section, substitute:

16 Levy and late payment penalty recoverable as debts

(1) Any levy that has not been paid on or before the prescribed date for payment of the levy, or any late payment penalty that is payable, is:

(a) a debt due to the Commonwealth; and

(b) payable to the NRA on behalf of the Commonwealth; and

(c) may be sued for and recovered by the NRA.

(2) The NRA must pay to the Commonwealth any amounts of levy or late payment penalty received by it.

Agricultural and Veterinary Chemical Products (Collection of Levy) Act 1994

75 Section 19

Repeal the section, substitute:

19 Levy and late payment penalty recovered as debts

(1) Any levy that has not been paid on or before the prescribed date for payment of the levy, or any late payment penalty that is payable, is:

(a) a debt due to the Commonwealth; and

(b) payable to the NRA on behalf of the Commonwealth; and

(c) may be sued for and recovered by the NRA.

(2) The NRA must pay to the Commonwealth any amounts of levy or late payment penalty received by it.

Alcohol Education and Rehabilitation Account Act 2001

76 Subsection 8(1)

Omit “Money”, substitute “Amounts”.

Note: The heading to section 8 is altered by omitting “Money in” and substituting “ Amounts standing to the credit of”.

77 Subsection 8(2)

Omit “money”, substitute “amounts”.

Australia-Japan Foundation Act 1976

78 Section 3

Insert:

Account means the account continued in existence by section 17.

79 Section 3 (definition of Reserve)

Repeal the definition.

80 Paragraph 5(1)(d)

Omit “Reserve”, substitute “Account”.

81 Part IV (heading)

Repeal the heading, substitute:

Part IV—Australia-Japan Account

82 Sections 17 and 18

Repeal the sections, substitute:

17 Australia-Japan Account

(1) There is continued in existence the Australia-Japan Account.

Note: The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

(2) The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

18 Credit of amounts to Account

There must be credited to the Account amounts equal to:

(a) income derived from the investment of an amount standing to the credit of the Account; and

(b) any money received by the Commonwealth or by the Foundation from the disposal of property purchased or produced, or in respect of any work paid for, with an amount standing to the credit of the Account; and

(c) any other money derived by the Foundation in the performance of its functions; and

(d) any money received by the Foundation by way of, or as a result of, a gift, devise or bequest.

Note: An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

83 Subsection 19(1)

Omit “Moneys standing to the credit of the Reserve”, substitute “Amounts standing to the credit of the Account”.

Note: The heading to section 19 is altered by omitting “of moneys of Reserve” and substituting “of amounts standing to the credit of the Account”.

Australian Centre for International Agricultural Research Act 1982

84 Section 3

Insert:

Account means the account continued in existence by section 33.

85 Section 3 (definition of Reserve)

Repeal the definition.

86 Sections 33, 34 and 35

Repeal the sections, substitute:

33 Australian Centre for International Agricultural Research Account

(1) There is continued in existence the Australian Centre for International Agricultural Research Account.

Note: The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

(2) The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

34 Credit of amounts to Account

There must be credited to the Account amounts equal to money from time to time received by the Centre.

Note: An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

35 Debits from Account

Amounts standing to the credit of the Account may be debited for the following purposes:

(a) in payment or discharge of the costs, expenses and other obligations incurred by the Centre in the performance of its functions or the exercise of its powers under this Act;

(b) in payment of any remuneration and allowances payable to any person under this Act.

87 Subsection 36(1)

Omit “moneys standing to the credit of the Reserve”, substitute “amounts standing to the credit of the Account”.

88 Subsection 36(2)

Omit “Moneys shall not be expended from the Reserve”, substitute “Amounts must not be debited from the Account”.

Australian Federal Police Act 1979

89 Subsection 54(2)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

90 Subsection 54(4)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Australian Meat and Live-stock Industry (Repeals and Consequential Provisions) Act 1997

91 Subitem 11(2) of Schedule 5

Repeal the subitem.

92 Subitem 12(4) of Schedule 5

Repeal the subitem.

93 Subitem 13(3) of Schedule 5

Repeal the subitem.

94 Item 29 of Schedule 5

Repeal the item.

Australian Radiation Protection and Nuclear Safety Act 1998

95 Section 56

Repeal the section, substitute:

56 ARPANSA Account

(1) There is continued in existence the ARPANSA Account.

Note: The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

(2) The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

(3) Amounts equal to the following must be credited to the Account:

(a) amounts received by the Commonwealth under the Licence Charges Act;

(b) fees received by the Commonwealth under section 34;

(c) amounts received by the Commonwealth in connection with the performance of the CEO’s functions under this Act or the regulations;

(d) interest received by the Commonwealth from the investment of an amount standing to the credit of the Account;

(e) money received by the Commonwealth in relation to property paid for after a debit of the Account in respect of an amount equal to the purchase price of the property;

(f) amounts recovered by the Commonwealth under subsection 41(7), to the extent that they are referable to costs debited from the Account;

(g) amounts of any gifts given or bequests made for the purposes of the Account.

Note: An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

(4) The purposes of the Account are to make payments:

(a) to further the object of this Act (as set out in section 3); and

(b) otherwise in connection with the performance of the CEO’s functions under this Act or the regulations.

Australian Securities and Investments Commission Act 2001

96 Subsections 135(7) and 161(7)

Repeal the subsections.

Bankruptcy Act 1966

97 Section 20A

Insert:

Equalization Account means the Common Investment Fund Equalization Account continued in existence by section 20G.

98 Section 20A (definition of Equalization Reserve)

Repeal the definition.

99 Sections 20G and 20H

Repeal the sections, substitute:

20G Common Investment Fund Equalization Account

(1) There is continued in existence the Common Investment Fund Equalization Account.

Note: The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

(2) The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

20H Credits to and debits from the Equalization Account

(1) Interest derived from the investment of money in the Common Fund must be paid to the Commonwealth.

(2) An amount equal to the amount of any capital profit made upon the realization of an investment made from money in the Common Fund must be paid out of the Common Fund to the Commonwealth.

(3) Whenever a payment is made to the Commonwealth under subsection (1) or (2), an equal amount must be credited to the Equalization Account.

(4) An amount equal to:

(a) the amount of any capital loss incurred upon the realization of an investment made from money in the Common Fund; or

(b) each amount of interest that:

(i) forms part of the estate of a bankrupt or of a deceased debtor by virtue of subsection 20J(2) or (3); or

(ii) forms part of a fund referred to in paragraph 20J(1)(b) by virtue of subsection 20J(2) or (3A); or

(iii) is payable to a person by virtue of subsection 20J(4);

is to be debited from the Equalization Account and paid into the Common Fund.

(5) The Official Trustee must, at such times as it considers appropriate and, in any event, at least once every 6 months, determine whether any amounts standing to the credit of the Equalization Account are not required for the purposes of subsection (4). If the Official Trustee determines that any amounts are not so required, it may direct that the amounts not so required, or any part of those amounts, are to be debited from the Equalization Account.

(6) Whenever an amount required by subsection (4) to be debited from the Equalization Account exceeds the amount standing to the credit of the Equalization Account, an amount equal to the excess must be credited to the Equalization Account.

100 Section 139L (sub-subparagraph (b)(i)(A) of the definition of income)

Omit “Reserve”, substitute “Account”.

101 After subsection 153A(4)

Insert:

(4A) Money received by the Official Receiver under subsection (4) is received on behalf of the Commonwealth.

102 Subsection 153A(5)

Repeal the subsection, substitute:

(5) If money is paid to the Official Receiver under subsection (4), the provisions of subsections 254(3) and (4) apply in relation to that money as if it had been paid to the Commonwealth by a trustee under subsection 254(2).

103 Subsection 163(2)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

104 Subsection 163A(3)

Repeal the subsection, substitute:

(3) Money received by the Official Receiver under subsection (2) is received on behalf of the Commonwealth.

105 Subsection 252A(5)

Repeal the subsection, substitute:

(4A) Money received by the Official Receiver under subsection (4) is received on behalf of the Commonwealth.

(5) If money is paid to the Official Receiver under subsection (4), the provisions of subsections 254(3) and (4) apply in relation to that money as if it had been paid to the Commonwealth by a trustee under subsection 254(2).

106 Subsection 254(2)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Note: The heading to section 254 is altered by omitting “into Consolidated Revenue Fund” and substituting “to the Commonwealth”.

107 Subsection 254(2A)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

108 Subsection 254(3)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Broadcasting Services Act 1992

109 Subclause 51(8) of Schedule 4

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Note: The heading to subclause 51(8) of Schedule 4 is replaced by the heading “Payments to the Commonwealth”.

CFM Sale Act 1996

110 Subsection 48(4)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Child Support (Registration and Collection) Act 1988

111 Subsection 4(1)

Insert:

Account means the Child Support Account continued in existence by section 73.

112 Subsection 4(1) (definition of Reserve)

Repeal the definition.

113 Paragraph 53(c)

Omit “transferred to the Reserve”, substitute “credited to the Account”.

114 Division 1 of Part VI

Repeal the Division, substitute:

Division 1—Child Support Account

73 Child Support Account

(1) There is continued in existence the Child Support Account.

Note: The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

(2) The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

74 Credit of amounts to Account

(1) The following amounts must be credited to the Account:

(a) amounts equal to amounts received by the Registrar in payment of child support debts (including amounts received from employers under paragraph 47(1)(a));

(b) amounts equal to amounts received by the Registrar from payers of enforceable maintenance liabilities as voluntary payments for transmission to the payees of the liabilities;

(c) amounts equal to amounts received by the Registrar in relation to amounts that persons were not entitled to have been paid in respect of a debiting from the Account.

(2) If the Registrar receives an amount of which only part appears to the Registrar to fall within subsection (1), the Registrar must determine, in writing, the portion of the amount falling within that subsection, and only that portion is to be credited to the Account under subsection (1).

75 Purposes of the Account

(1) The purposes of the Account are:

(a) to make payments under subsection 76(1) to payees of registered maintenance liabilities; and

(b) to make payments to the payees of enforceable maintenance liabilities of amounts received from the payers of the liabilities as voluntary payments for transmission to the payees; and

(c) to repay amounts paid to the Commonwealth and credited to the Account that the Registrar was not entitled to have received under this Act.

(2) Amounts received from employers and payers of enforceable maintenance liabilities, in relation to cases in which amounts have been credited to the Account under section 77 or subsection 78(3), may be debited from the Account.

115 Section 77

Omit “transferred to the Reserve from the Consolidated Revenue Fund”, substitute “credited to the Account”.

116 Paragraph 78(3)(d)

Omit “transferred to the Reserve from the Consolidated Revenue Fund”, substitute “credited to the Account”.

Coal Mining Industry (Long Service Leave) Payroll Levy Collection Act 1992

117 Subsection 9(4)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Commonwealth Places (Mirror Taxes) Act 1998

118 Subsections 23(1) and (2)

Repeal the subsections, substitute:

(1) The Commonwealth is liable to pay to a State amounts equal to amounts received by the Commonwealth (including amounts received by a State on behalf of the Commonwealth) under an applied law of the State.

119 Subsection 23(3)

Omit “subsection (2)”, substitute “subsection (1)”.

Corporations Act 2001

120 Subsection 1341(1)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

121 Paragraph 1341(2)(d)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Crimes Act 1914

122 Paragraph 9A(c)

Omit “pay”, substitute “credit”.

123 Subsection 9B(2)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Crimes (Superannuation Benefits) Act 1989

124 Subsection 41(2)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

125 Subsection 41(4)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

CSL Sale Act 1993

126 Subsection 41(4)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Customs Act 1901

127 Paragraph 208DA(3)(a)

Omit “pay the money”, substitute “credit the amount of the money”.

128 Subparagraph 208DA(3)(b)(iii)

Omit “pay the remainder”, substitute “credit an amount equal to the remainder “.

129 Subparagraph 243G(6)(a)(ii)

Omit “pay the remainder”, substitute “credit an amount equal to the remainder”.

130 Subparagraph 243G(6)(b)(iii)

Omit “pay the remainder”, substitute “credit an amount equal to the remainder”.

131 Subsection 243G(7)

Repeal the subsection, substitute:

(7) Where the amounts to which subparagraph (6)(a)(ii) or (b)(iii) applies exceeds the penalty amount, the Official Trustee must:

(a) credit to the Confiscated Assets Account as required by section 296 of the Proceeds of Crime Act 2002 an amount equal to the penalty amount; and

(b) pay the balance to the person whose property was subject to the restraining order.

132 Subsection 243G(8)

Omit “pays, in accordance with a direction under this section, money”, substitute “credits, in accordance with a direction under this section, an amount”.

133 Subsection 243P(2)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Defence Forces Retirement Benefits Fund (Distribution of Surplus to Pensioners) Act 1976

134 Title

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

Defence Service Homes Act 1918

135 Sections 40 and 40A

Repeal the sections, substitute:

40 Defence Service Homes Insurance Account

(1) There is continued in existence the Defence Service Homes Insurance Account.

Note: The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

(2) The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

(3) There must be credited to the Account amounts equal to all payments to the Commonwealth in connection with its activities:

(a) as an insurer under this Act, including a payment to it under a contract or arrangement referred to in section 38F; and

(b) with respect to insurance, as an agent for an insurer.

(4) The purpose of the Account is to make all payments by the Commonwealth in connection with its activities:

(a) as an insurer under this Act, including:

(i) a payment by it under a contract or arrangement referred to in section 38F; and

(ii) a payment by it under section 38G; and

(iii) a payment by it that it is not legally required to make but that is of a kind that would be made by a person carrying on the business of insurance in accordance with sound commercial principles; and

(b) with respect to insurance, as an agent for an insurer.

40A Interest on amounts invested

(1) Subject to this section, there must be credited to the Defence Service Homes Insurance Account, in respect of each financial year ending after the commencement of this section, an amount, calculated in such manner as the Finance Minister determines, by way of interest on the amount standing to the credit of the Account during that year, whether that amount has been invested by the Finance Minister or not.

(2) If interest is received by the Commonwealth from the investment of an amount standing to the credit of the Defence Service Homes Insurance Account, an amount equal to the interest must be credited to the Account.

(3) In this section:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

Financial Agreement Act 1994

136 Section 6

Repeal the section, substitute:

6 Debt Retirement Reserve Trust Account

(1) There is continued in existence the Debt Retirement Reserve Trust Account.

Note: The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

(2) The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

(3) The purpose of the Account is to make payments in accordance with the 1994 Financial Agreement.

(4) There must be credited to the Account amounts equal to all money received by the Commonwealth under the 1994 Financial Agreement.

Financial Institutions Supervisory Levies Collection Act 1998

137 Subsection 11(2)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

138 Section 24

Repeal the section, substitute:

24 How payments of levy and late payment penalty and repayments of financial assistance are to be applied

(1) If a levy is imposed as a result of a determination by the Minister to make a grant of financial assistance not from the Account, then the following amounts must be paid to the Commonwealth and not credited to the Account:

(a) any amounts of that levy, and of late payment penalty in respect of that levy, that are received by the Minister; and

(b) any repayments of that financial assistance.

(2) If a levy is imposed as a result of a determination by the Minister to make a grant of financial assistance from the Account, then the following amounts must be paid to the Commonwealth and credited to the Account:

(a) amounts equal to any amounts of that levy, and of late payment penalty in respect of that levy, that are received by the Minister; and

(b) amounts equal to any repayments of that financial assistance.

Financial Management and Accountability Act 1997

139 Subsection 20(1)

Repeal the subsection, substitute:

(1) The Finance Minister may make a written determination that does all of the following:

(a) establishes a Special Account;

(b) allows or requires amounts to be credited to the Special Account;

(c) specifies the purposes for which amounts are allowed or required to be debited from the Special Account.

(1A) A determination under subsection (1) may specify that an amount may or must be debited from a Special Account established under subsection (1) otherwise than in relation to the making of a real or notional payment.

140 At the end of subsection 20(4)

Add:

Note: An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

141 After subsection 20(4)

Insert:

(4A) If the Finance Minister makes a determination that allows an amount standing to the credit of a Special Account to be expended in making payments for a particular purpose, then, unless the contrary intention appears, the amount may also be applied in making notional payments for that purpose.

Note: This subsection applies to transactions that do not actually involve payments because the parties to the transaction are merely parts of the Commonwealth or acting as agents for the Commonwealth. For example, Agency 1 “pays” Agency 2 for services provided by Agency 2.

142 Subsection 21(1) (note)

Repeal the note, substitute:

Note 1: An Act that establishes a Special Account will identify the amounts that are to be credited to the Special Account.

143 At the end of subsection 21(1)

Add:

Note 2: An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

144 After subsection 21(1)

Insert:

(1A) If an Act allows an amount standing to the credit of a Special Account to be applied, debited, paid or otherwise used for a particular purpose, then, unless the contrary intention appears, the amount may also be applied, paid or otherwise used in making a notional payment for that purpose.

Note: This subsection applies to transactions that do not actually involve payments because the parties to the transaction are merely parts of the Commonwealth or acting as agents for the Commonwealth. For example, Agency 1 “pays” Agency 2 for services provided by Agency 2.

Forestry and Timber Bureau Act 1930

145 Section 5

Repeal the section, substitute:

5 Forestry Account

(1) There is continued in existence the Forestry Account.

Note: The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

(2) The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

(3) There must be credited to the Account:

(a) amounts equal to donations for the furtherance of forestry that are received by the Director-General or are otherwise received by or on behalf of the Commonwealth; and

(b) amounts to be credited to the Account under any law.

Note: An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

(4) An amount standing to the credit of the Account may be applied, in a manner approved by the Minister, for the furtherance of forestry.

(5) If interest is received by the Commonwealth from the investment of an amount standing to the credit of the Account, an amount equal to the interest must be credited to the Account.

Great Barrier Reef Marine Park Act 1975

146 Subsection 39I(1)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

147 Subsection 39I(2)

Repeal the subsection, substitute:

(2) If an amount (Commonwealth amount) is paid to the Commonwealth under subsection (1), an amount equal to the Commonwealth amount must be paid to the Authority.

148 Subsection 39I(3)

Omit “CRF amount” (wherever occurring), substitute “Commonwealth amount”.

149 Subsection 39I(4)

Omit “CRF amount”, substitute “Commonwealth amount”.

Higher Education Funding Act 1988

150 Subsection 34(1)

Insert:

Account means the Higher Education (HECS) Account continued in existence by section 59.

151 Subsection 34(1) (definition of Reserve)

Repeal the definition.

152 Part 4.3 of Chapter 4 (heading)

Repeal the heading, substitute:

Part 4.3—Higher Education (HECS) Account

153 Sections 59 and 60

Repeal the sections, substitute:

59 Higher Education Account

(1) There is continued in existence the Higher Education (HECS) Account. The purpose of the Account is to make payments under section 61.

Note: The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

(2) The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

60 Credit of amounts to Account

There must be credited to the Account amounts equal to the following:

(a) money paid to the Commonwealth under this Chapter, Chapter 4A, 4B or 5A, otherwise than:

(i) in discharge of an HEC assessment debt; or

(ii) by virtue of the operation of section 106U;

(b) amounts payable in respect of HEC assessment debts;

(c) amounts necessary to enable payments to be debited from the Account under section 61;

(d) money paid by any person to the Commonwealth for the purposes of the Account;

(e) interest from the investment of an amount standing to the credit of the Account.

154 Subsection 61(1)

Omit “Money in the Reserve”, substitute “Amounts standing to the credit of the Account”.

Note The heading to section 61 is altered by omitting “Reserve” and substituting “an amount standing to the credit of the Account”.

155 Section 116

Repeal the section, substitute:

116 Application of money borrowed

Money borrowed under section 115 must be issued and applied only for the expenses of borrowing and for the purpose of making payments to institutions in accordance with section 27A.

Income Tax Assessment Act 1936

156 Subsection 128U(1)

Insert:

Aboriginals Benefit Account means the Aboriginals Benefit Account continued in existence by section 62 of the Aboriginal Land Rights (Northern Territory) Act 1976.

157 Subsection 128U(1) (definition of Aboriginals Benefit Reserve)

Repeal the definition.

158 Subsection 128U(1) (paragraph (a) of the definition of mining payment)

Repeal the paragraph, substitute:

(a) a payment made on or after 1 July 1979 and before the day that the Financial Management Legislation Amendment Act 1999 commenced, out of the Aboriginals Benefit Reserve to the extent that the payment represents money paid into the Aboriginals Benefit Reserve on or after 1 July 1979 in pursuance of subsection 63(2) or (4) of the Aboriginal Land Rights (Northern Territory) Act 1976; and

(aa) a payment made on or after the day that the Financial Management Legislation Amendment Act 1999 commenced by the Commonwealth in respect of a debit from the Aboriginals Benefit Account to the extent that the payment represents an amount credited to the Aboriginals Benefit Account in pursuance of subsection 63(1) or (4) of the Aboriginal Land Rights (Northern Territory) Act 1976; and

Industrial Chemicals (Notification and Assessment) Act 1989

159 Paragraphs 100B(1)(f), (g), (h) and (j)

Omit “money from the Account”, substitute “amounts standing to the credit of the Account”.

International Monetary Agreements Act 1947

160 Section 9

Repeal the section.

Interstate Road Transport Act 1985

161 Subsection 3(1)

Insert:

Account means the Interstate Road Transport Account continued in existence by section 21.

162 Subsection 3(1) (definition of Reserve)

Repeal the definition.

163 Part IV (heading)

Repeal the heading, substitute:

Part IV—Interstate Road Transport Account

164 Sections 21 and 22

Repeal the sections, substitute:

21 Interstate Road Transport Account

(1) There is continued in existence the Interstate Road Transport Account.

Note: The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

(2) The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

(3) If interest is received by the Commonwealth from the investment of an amount standing to the credit of the Account, an amount equal to the amount of the interest must be credited to the Account.

22 Amounts to be credited to Account

(1) There must be credited to the Account amounts equal to the amounts received by the Commonwealth as charge and advances on account of charge.

(2) There must be credited to the Account amounts equal to amounts received by the Commonwealth by way of the repayment of amounts paid in accordance with a determination under subsection 23(1).

165 Subsection 23(1)

Omit “shall be paid out of the Reserve”, substitute “is to be debited from the Account and paid by the Commonwealth”.

Note: The heading to section 23 is replaced by the heading “Amounts to be debited from the Account”.

166 Subsection 23(4)

Omit “out of the Reserve shall”, substitute “under this Act must”.

Lands Acquisition Act 1989

167 Section 6

Insert:

Account means the Lands Acquisition Account continued in existence by section 89A.

168 Section 6 (definition of Reserve)

Repeal the definition.

169 Section 89A

Repeal the section, substitute:

89A Lands Acquisition Account

(1) There is continued in existence the Lands Acquisition Account.

Note: The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

(2) The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

170 Subsections 90(2) to (5)

Repeal the subsections, substitute:

(2) The Minister may direct that an amount equal to the compensation be credited to the Account.

(3) The Minister may pay rates, taxes or similar amounts charged on the land and due at the time of the acquisition and must deduct the amount of the payment from the amount of compensation that would otherwise be credited to the Account.

(4) On crediting the Account with the amount calculated under subsection (3), the compensation must, for the purposes of sections 91 and 92, be taken to have been paid to the person.

(5) If the person rectifies the default or delay referred to in subsection (1), the Commonwealth must pay the person an amount equal to the amount credited to the Account and debit the Account accordingly.

Note: The heading to section 90 is replaced by the heading “Crediting of amounts of compensation to the Account”.

171 Subsections 114(2) to (4)

Repeal the subsections, substitute:

(2) The Minister may direct that an amount equal to the compensation be credited to the Account.

(3) On crediting the Account with the compensation, the compensation must, for the purposes of section 115, be taken to have been paid to the person.

(4) If the person rectifies the default or delay referred to in subsection (1), the Commonwealth must pay the person an amount equal to the amount credited to the Account and debit the Account accordingly.

Note: The heading to section 114 is replaced by the heading “Crediting of amounts of compensation to the Account”.

Moomba-Sydney Pipeline System Sale Act 1994

172 Subsection 50(3)

Omit “into the Consolidated Revenue Fund”, substitute “to the Commonwealth”.

National Blood Authority Act 2003

173 Paragraphs 41(d) and (e)

Omit “money from the Account”, substitute “amounts standing to the credit of the Account”.

National Cattle Disease Eradication Reserve Act 1991

174 Title

Omit “Reserve”, substitute “Account”.

175 Section 1

Omit “Reserve”, substitute “Account”.

176 Section 3

Insert:

Account means the National Cattle Disease Eradication Account continued in existence by section 4.

177 Section 3

Insert:

Account’s component of charge has the meaning given by section 4A.

178 Section 3

Insert:

Account’s component of levy has the meaning given by section 4B.

179 Section 3 (definition of Reserve)

Repeal the definition.

180 Section 3 (definition of Reserve’s component of charge)

Repeal the definition.

181 Section 3 (definition of Reserve’s component of levy)

Repeal the definition.

182 Section 4

Repeal the section, substitute:

4 National Cattle Disease Eradication Account

(1) There is continued in existence the National Cattle Disease Eradication Account.

Note: The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

(2) The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

183 Section 4A

Omit “Reserve’s”, substitute “Account’s”.

Note: The heading to section 4A is altered by omitting “Reserve’s” and substituting “Account’s”.

184 Section 4B

Omit “Reserve’s”, substitute “Account’s”.

Note: The heading to section 4B is altered by omitting “Reserve’s” and substituting “Account’s”.

185 Subsection 5(1)

Omit “paid into”, substitute “credited to”.

186 Paragraphs 5(1)(aaa) and (aab)

Omit “Reserve’s”, substitute “Account’s”.

Note: The heading to section 5 is replaced by the heading “Credit of amounts to Account”.

187 Paragraph 5(1)(c)

Repeal the paragraph.

188 Paragraph 5(1)(d)

Omit “money from the Reserve”, substitute “an amount standing to the credit of the Account”.

189 At the end of subsection 5(1)

Add:

Note: An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

190 Section 6

Repeal the section, substitute:

6 Application of National Cattle Disease Eradication Account

(1) The amount standing to the credit of the Account may, with the approval of the Minister, be debited for the following purposes:

(a) making payments to the States, and in meeting costs incurred by the Commonwealth, for the purpose of the eradication of any disease of cattle that is endemic in Australia;

(b) making payments in respect of any expenses connected with the eradication of any disease of cattle that is endemic in Australia that have been paid by the Commonwealth and have not been debited from the Account.

(2) An amount that has been credited to the Account under an Appropriation Act, may be debited from the Account.

National Health and Medical Research Council Act 1992

191 Section 4

Insert:

Account means the Medical Research Endowment Account continued in existence by section 49.

192 Section 4 (definition of Reserve)

Repeal the definition.

193 Paragraph 7(1)(c)

Omit “Reserve”, substitute “Account”.

194 Section 11A

Omit “Reserve”, substitute “Account”.

195 Paragraphs 35(2)(a) and (b)

Omit “Reserve”, substitute “Account”.

196 Part 7 (heading)

Repeal the heading, substitute:

Part 7—Medical Research Endowment Account

197 Sections 49 and 50

Repeal the sections, substitute:

49 Medical Research Endowment Account

(1) There is continued in existence the Medical Research Endowment Account.

Note: The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

(2) The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

(3) If interest is received by the Commonwealth from the investment of an amount standing to the credit of the Account, an amount equal to the interest must be credited to the Account.

50 Credit of amounts to Account

There must be credited to the Account amounts equal to amounts that are given or bequeathed for the purposes of the Account.

Note: An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

198 Subsection 51(1)

Omit “Reserve”, substitute “Account”.

Note: The heading to section 51 is altered by omitting “Reserve” and substituting “Account”.

199 Paragraphs 52(1)(a) and (b)

Omit “Reserve”, substitute “Account”.

200 Subsection 52(2)

Omit “Reserve”, substitute “Account”.

201 Section 53

Omit “transferred to the Reserve from the Consolidated Revenue Fund”, substitute “credited to the Account”.

National Residue Survey Administration Act 1992

202 Title

Omit “a Reserve”, substitute “a Special Account”.

203 Section 4

Insert:

Account means the National Residue Survey Account continued in existence by section 6.

204 Section 4 (definition of Reserve)

Repeal the definition.

205 Sections 6, 7 and 8

Repeal the sections, substitute:

6 National Residue Survey Account

(1) There is continued in existence the National Residue Survey Account.

Note: The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

(2) The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

7 Credit of amounts to National Residue Survey Account

There must be credited to the Account:

(a) amounts appropriated by Parliament for the purposes of the National Residue Survey; and

(b) in respect of each amount of National Residue Survey Levy collected by or on behalf of the Commonwealth—an amount equal to that amount of levy; and

(c) in respect of each amount of penalty collected by or on behalf of the Commonwealth in connection with National Residue Survey Levy—an amount equal to that amount of penalty; and

(d) amounts equal to amounts paid to the Commonwealth for the purposes of the National Residue Survey or the Account; and

(e) amounts equal to income from the investment of an amount standing to the credit of the Account.

Note: An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

8 Debits from Account

(1) Amounts standing to the credit of the Account may be debited for the following purposes:

(a) making payments, in accordance with an expenditure program approved by the Minister, for purposes related to:

(i) the monitoring and reporting of the level of contaminants in applicable products; and

(ii) if the relevant body (as determined by the Minister) in the industry concerned agrees to the program extending to expenditure under this subparagraph—the testing, either on a random basis or in specific cases, of applicable products or the environment for the purpose of tracing the sources of contaminants and determining the causes of contamination; and

(iii) if the relevant body (as determined by the Minister) in the industry concerned agrees to the program extending to expenditure under this subparagraph—the testing and reporting of the level of contaminants in applicable products or the environment, and any associated activities, for the purpose of investigating the potential sources, and determining the potential causes, of such contaminants; and

(iv) if the relevant body (as determined by the Minister) in the industry concerned agrees to the program extending to expenditure under this subparagraph—the prevention of contamination in, and the management of risks associated with, contamination of applicable products;

(b) if an amount that was credited to the Account was given by a person or body to the Commonwealth for a particular purpose but has not been fully spent for that purpose—repaying the unspent amount to the person or body.

(2) Amounts may be debited from the Account equal to expenditure incurred by the Commonwealth in relation to:

(a) the collection and recovery of amounts referred to in paragraph 7(b) or (c); or

(b) the administration of paragraph 7(b) or (c); or

(c) the carrying out of any activities of kinds referred to in paragraph (1)(a) or any related activities.

(3) An amount that has been credited to the Account under an Appropriation Act may be debited from the Account.

(4) Without limiting the generality of subsection (2), the reference in that subsection to expenditure incurred includes a reference to:

(a) remuneration and allowances paid to staff; and

(b) other expenditure incurred in relation to the provision of staff or the provision of the services of staff; and

(c) expenditure incurred in relation to surveys conducted for the purpose of monitoring the level of contaminants; and

(d) expenditure incurred in relation to the provision of accommodation or administrative support.

206 Section 10

Repeal the section, substitute:

10 Report by Minister

As soon as practicable after the end of each financial year, the Minister is to cause a report to be laid before each House of the Parliament setting out details of the operation of the Account including:

(a) amounts credited to the Account during that financial year; and

(b) amounts debited from the Account during that financial year; and

(c) financial statements relating to the Account for that financial year; and

(d) a description of activities undertaken in relation to the National Residue Survey during that financial year.

207 Subsection 11(1)

Repeal the subsection, substitute:

(1) Subject to subsection (2), information collected under activities referred to in section 8 using amounts debited from the Account that identifies a particular person may not be released to any other person.

Native Title Act 1993

208 Part 12 (heading)

Repeal the heading, substitute:

Part 12—Parliamentary Joint Committee on Native Title and the Land Account

209 Subsection 204(1)

Omit “Land Fund”, substitute “Land Account”.

210 Subparagraph 206(d)(vii)

Omit “Land Fund”, substitute “Land Account”.

Natural Heritage Trust of Australia Act 1997

211 Title

Omit “Reserve”, substitute “Account”.

212 Preamble

Omit “Natural Heritage Trust of Australia Reserve”, substitute “Natural Heritage Trust of Australia Account”.

213 Section 3 (simplified outline)

Omit “Australia Reserve”, substitute “Australia Account”.

214 Section 3 (simplified outline)

Omit “for the Reserve”, substitute “for the Account”.

215 Section 3 (simplified outline)

Omit “of the Reserve”, substitute “of the Account”.

216 Section 3 (simplified outline)

Omit “Money in the Reserve”, substitute “Amounts standing to the credit of the Account”.

217 Part 2 (heading)

Repeal the heading, substitute:

Part 2—The Natural Heritage Trust of Australia Account

218 Sections 4 and 5

Repeal the sections, substitute:

4 Natural Heritage Trust of Australia Account

There is continued in existence the Natural Heritage Trust of Australia Account.

Note: The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

5 Nature of the Account

The Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

219 Subsections 6(1) and (2)

Repeal the subsections, substitute:

Investments

(1) Amounts equal to income derived from the investment of an amount standing to the credit of the Account are to be credited to the Account.

Note: An amount standing to the credit of the Account may be invested in accordance with the Financial Management and Accountability Act 1997.

Fixed income—uninvested amounts

(2) Within 28 days after the end of a financial year, there is to be credited to the Account, in respect of the financial year, an amount equal to the fixed-income percentage of the uninvested amount standing to the credit of the Account as at the end of the financial year.

Note: The heading to section 6 is altered by omitting “Reserve” and substituting “Account”.

220 Subsection 6(3)

Omit “Minister for Finance” (wherever occurring), substitute “Finance Minister”.

221 Subsections 6(4), (5) and (6)

Repeal the subsections, substitute:

Advances on account of fixed income

(4) During a financial year, the Finance Minister may, by written instrument, determine that a specified amount is to be credited to the Account by way of an advance on account of the amount that may be credited to the Account under subsection (2) in respect of the financial year. The determination has effect accordingly.

(5) For each $1 credited under subsection (4) in respect of a financial year, the amount credited under subsection (2) in respect of the financial year is to be reduced by $1.

(6) If, at the end of a financial year:

(a) the total amount credited to the Account under subsection (4) in respect of the financial year;

exceeds:

(b) the amount (if any) that would have been credited to the Account under subsection (2) in respect of the financial year if it were assumed that no amounts had been credited under subsection (4) in respect of the financial year;

an amount equal to the excess must be debited from the Account.

(7) In this section:

Finance Minister means the Minister who administers the Financial Management and Accountability Act 1997.

222 Section 7

Repeal the section, substitute:

7 Amounts not held on trust

Amounts standing to the credit of the Account and amounts invested by debiting the Account are not held on trust (within the ordinary meaning of that expression).

223 Part 3 (heading)

Repeal the heading, substitute:

Part 3—Purposes of the Account

224 Section 8

Repeal the section, substitute:

8 Purposes of the Account

The purposes of the Account are as follows:

(a) the National Vegetation Initiative;

(b) the Murray-Darling 2001 Project;

(c) the National Land and Water Resources Audit;

(d) the National Reserve System;

(e) the Coasts and Clean Seas Initiative;

(f) environmental protection (as defined by section 15);

(g) supporting sustainable agriculture (as defined by section 16);

(h) natural resources management (as defined by section 17);

(i) a purpose incidental or ancillary to any of the above purposes;

(j) the making of grants of financial assistance for any of the above purposes;

(k) an accounting transfer purpose (as defined by section 18).

225 Subsection 9(1)

Omit “Money in the Reserve”, substitute “Amounts standing to the credit of the Account”.

Note: The heading to section 9 is altered by omitting “Trust” and substituting “Account”.

226 Subsection 9(2)

Repeal the subsection, substitute:

(2) An amount standing to the credit of the Account that represents interest earned on an amount standing to the credit of the Account may be applied for any purpose of the Account.

227 Paragraphs 18(b) and (c)

Repeal the paragraphs, substitute:

(b) crediting amounts to the Natural Resources Management Account continued in existence under subsection 11(1) of the Natural Resources Management (Financial Assistance) Act 1992;

228 Subsections 19(1) and 20(1)

Omit “Reserve”, substitute “Account”.

229 Subsection 21(1)

Omit “money in the Reserve for a purpose of the Reserve”, substitute “an amount standing to the credit of the Account for a purpose of the Account”.

230 Part 4 (heading)

Repeal the heading, substitute:

Part 4—Crediting of amounts to the Account

231 Subsection 22(1)

Omit “transferred to the Reserve from the Consolidated Revenue Fund”, substitute “credited to the Account”.

232 Subsection 22(2)

Omit “transferred to the Reserve”, substitute “credited to the Account”.

233 Subsection 22A(1)

Omit “transferred to the Reserve from the Consolidated Revenue Fund”, substitute “credited to the Account”.

234 Subsection 22A(2)

Omit “transferred to the Reserve”, substitute “credited to the Account”.

235 Subsections 23(1) and (2)

Omit “Reserve”, substitute “Account”.

236 Sections 24, 25, 26, 27, 28 and 29

Repeal the sections, substitute:

24 Gifts and bequests

(1) This section applies if a gift or bequest is given or made for the purposes of the Account.

(2) An amount equal to the amount of the gift or bequest is to be credited to the Account.

25 Repayments of grants

(1) This section applies if:

(a) an amount standing to the credit of the Account is debited and paid by the Commonwealth in making a grant of financial assistance; and

(b) the grant is repaid, in whole or in part.

(2) An amount equal to the repayment is to be credited to the Account.

26 Commonwealth receipts under funding agreements

(1) This section applies if:

(a) the Commonwealth enters into an agreement with a person or body in relation to the spending of amounts debited from the Account and paid by the Commonwealth; and

(b) the agreement contains a provision requiring an amount to be paid or repaid to the Commonwealth in specified circumstances; and

(c) the Commonwealth receives money under the agreement.

(2) An amount equal to the receipt is to be credited to the Account.

27 Income from assets acquired using amounts credited to the Account

(1) This section applies if:

(a) an amount standing to the credit of the Account is debited and paid by the Commonwealth in acquiring property or interests; and

(b) an amount is received by the Commonwealth by way of income derived from the property or interests.

(2) An amount equal to the receipt is to be credited to the Account.

28 Proceeds of disposal of assets acquired using amounts credited to the Account

(1) This section applies if:

(a) an amount standing to the credit of