Commonwealth Consolidated Acts

NATION-BUILDING FUNDS ACT 2008 - SECT 109

Scope

             (1)  This section applies to a financial year if:

                     (a)  in the case of the financial year ending on 30 June 2009--the Finance Minister declares in writing that a specified amount is the general drawing rights limit in relation to the financial year for the purposes of this section; or

                     (b)  in the case of a later financial year--an Appropriation Act relating to the financial year declares that a specified amount is the general drawing rights limit in relation to the financial year for the purposes of this section.

Issue of drawing rights

             (2)  The total amount covered by drawing rights authorising the following debits in the financial year:

                     (a)  the debit of an amount from the Building Australia Fund Special Account for the purpose mentioned in paragraph 18(1)(a);

                     (b)  the debit of an amount from the BAF Infrastructure Portfolio Special Account (other than a debit under section 91);

                     (c)  the debit of an amount from the Building Australia Fund Special Account for the purpose mentioned in paragraph 18(1)(b);

                     (d)  the debit of an amount from the BAF Communications Portfolio Special Account for the purpose of making a payment in relation to the creation or development of communications infrastructure, other than:

                              (i)  a debit for the purpose of making a payment in relation to an eligible national broadband network matter; or

                             (ii)  a debit under section 96;

                     (e)  the debit of an amount from the Building Australia Fund Special Account for the purpose mentioned in paragraph 18(1)(d);

                      (f)  the debit of an amount from the BAF Energy Portfolio Special Account (other than a debit under section 101);

                     (g)  the debit of an amount from the Building Australia Fund Special Account for the purpose mentioned in paragraph 18(1)(e);

                     (h)  the debit of an amount from the BAF Water Portfolio Special Account (other than a debit under section 106);

                      (i)  the debit of an amount from the COAG Reform Fund in accordance with subsection 92(2);

                      (j)  the debit of an amount from the COAG Reform Fund in accordance with subsection 97(2);

                     (k)  the debit of an amount from the COAG Reform Fund in accordance with subsection 102(2);

                      (l)  the debit of an amount from the COAG Reform Fund in accordance with subsection 107(2);

must not exceed the general drawing rights limit for the financial year.

Declaration

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