Commonwealth Consolidated Acts

NATION-BUILDING FUNDS ACT 2008 - SECT 14

             (1)  The responsible Ministers may, by writing, determine that:

                     (a)  a specified amount is to be credited to the Building Australia Fund Special Account on a specified day; or

                     (b)  a specified amount is to be credited to the Building Australia Fund Special Account in specified instalments on specified days.

             (2)  The responsible Ministers must ensure that, by the end of 30 June 2009, the total of the amounts credited to the Building Australia Fund Special Account under subsection (1) equals $7.5 billion.

Note 1:       See also section 16 (balance of the Communications Fund to be credited to the Building Australia Fund Special Account).

Note 2:       See also section 33 (Building Australia Fund to inherit investments of the Communications Fund).

Note 3:       See also section 17 (balance of the Telstra Sale Special Account to be credited to the Building Australia Fund Special Account).

             (3)  The responsible Ministers must not make a determination under subsection (1) after 30 June 2009.

             (4)  A determination under subsection (1) is irrevocable.

             (5)  A determination under subsection (1) is a legislative instrument, but section 42 (disallowance) of the Legislative Instruments Act 2003 does not apply to the determination.