•       This Part sets up the Building Australia Fund.

•       The Building Australia Fund consists of:

               (a)     the Building Australia Fund Special Account; and

              (b)     the investments of the Building Australia Fund.

•       The balance of the Communications Fund is to be transferred to the Building Australia Fund.

•       The balance of the Telstra Sale Special Account is to be transferred to the Building Australia Fund.

•       One or more initial amounts are to be credited to the Building Australia Fund Special Account by 30 June 2009. The total of the initial amounts must equal $7.5 billion.

•       The responsible Ministers may determine that additional amounts are to be credited to the Building Australia Fund Special Account.

•       Amounts may be debited from the Building Australia Fund Special Account in accordance with the purposes of the Building Australia Fund Special Account.

•       The main purposes of the Building Australia Fund Special Account are:

               (a)     to make payments in relation to the creation or development of transport infrastructure; and

              (b)     to make payments in relation to the creation or development of communications infrastructure; and

               (c)     to make payments in relation to eligible national broadband network matters; and

              (d)     to make payments in relation to the creation or development of energy infrastructure; and

               (e)     to make payments in relation to the creation or development of water infrastructure.