Commonwealth Consolidated Acts

NATION-BUILDING FUNDS ACT 2008 - SECT 99

             (1)  The Finance Minister may, by writing, direct that a specified amount is to be:

                     (a)  debited from the Building Australia Fund Special Account; and

                     (b)  credited to the BAF Energy Portfolio Special Account;

on a specified day.

             (2)  The direction must be expressed to be given in order to enable the specified amount to be:

                     (a)  transferred from the BAF Energy Portfolio Special Account to the COAG Reform Fund; and

                     (b)  debited from the COAG Reform Fund for the purpose of making a specified grant of financial assistance to a State or Territory.

             (3)  A grant specified under subsection (2) must be a grant of financial assistance in relation to energy infrastructure.

             (4)  2 or more directions under subsection (1) may be set out in the same document.

             (5)  A direction under subsection (1) is not a legislative instrument.

             (6)  The Finance Minister must give a copy of a direction under subsection (1) to the Treasurer and the Energy Minister.