Commonwealth Consolidated Acts

NATION-BUILDING FUNDS ACT 2008 - SECT 19

                   Each of the following is a purpose of the Building Australia Fund Special Account:

                     (a)  paying the costs of, or incidental to, the acquisition of financial assets under repealed Division 3 of Part 9C of the Telecommunications (Consumer Protection and Service Standards) Act 1999 , where the costs were incurred before the commencement of this section;

                     (b)  paying expenses of an investment of the Building Australia Fund, where:

                              (i)  immediately before the commencement of this section, the investment was an investment of the Communications Fund; and

                             (ii)  the expense was incurred before the commencement of this section;

                     (c)  paying the costs of, or incidental to, the acquisition of derivatives under repealed section 158ZQ of the Telecommunications (Consumer Protection and Service Standards) Act 1999 , where the costs were incurred before the commencement of this section;

                     (d)  paying or discharging any other costs, expenses, obligations or liabilities incurred by the Commonwealth in connection with the Communications Fund, where the costs, expenses, obligations or liabilities were incurred before the commencement of this section.

Note 1:       See section 21 of the Financial Management and Accountability Act 1997 (debits from Special Accounts).

Note 2:       The Communications Fund was established by repealed section 158ZG of the Telecommunications (Consumer Protection and Service Standards) Act 1999 .