Commonwealth Consolidated Acts Commonwealth Consolidated ActsIn this Act:
"acquire" includes acquire by way of issue.
"Agency" means the Future Fund Management Agency.
"Appropriation Act" means an Act appropriating money for expenditure out of the Consolidated Revenue Fund.
(a) any kind of real or personal property; or
(b) any legal or equitable estate or interest in real or personal property; or
(c) any legal or equitable right.
"BAF Communications Portfolio Special Account" means the BAF Communications Portfolio Special Account established by section 68.
"BAF Energy Portfolio Special Account" means the BAF Energy Portfolio Special Account established by section 75.
"BAF evaluation criteria" means evaluation criteria under section 120.
"BAF Infrastructure Portfolio Special Account" means the BAF Infrastructure Portfolio Special Account established by section 61.
"BAF Water Portfolio Special Account" means the BAF Water Portfolio Special Account established by section 82.
"balance of the Building Australia Fund" means the sum of:
(a) amounts standing to the credit of the Building Australia Fund Special Account; and
(b) the value of investments of the Building Australia Fund.
"balance of the Education Investment Fund" means the sum of:
(a) amounts standing to the credit of the Education Investment Fund Special Account; and
(b) the value of investments of the Education Investment Fund.
"balance of the Health and Hospitals Fund" means the sum of:
(a) amounts standing to the credit of the Health and Hospitals Fund Special Account; and
(b) the value of investments of the Health and Hospitals Fund.
"bank" has the same meaning as in the Financial Management and Accountability Act 1997 .
"Building Australia Fund" means the Building Australia Fund established by section 12.
"Building Australia Fund investment function" of the Future Fund Board means:
(a) a function or power conferred on the Future Fund Board by section 32, 34, 40, 42, 44 or 45; or
(b) a right or power conferred on the Future Fund Board in its capacity as the holder of an investment of the Building Australia Fund.
"Building Australia Fund Investment Mandate" has the meaning given by subsection 35(4).
"Building Australia Fund Special Account" means the Building Australia Fund Special Account established by section 13.
(a) a company; or
(b) a partnership; or
(c) a trust; or
(d) a body politic.
"carriage service" has the same meaning as in the Telecommunications Act 1997 .
"Chair" means the Chair of the Future Fund Board.
"COAG Reform Fund" means the COAG Reform Fund established by section 5 of the COAG Reform Fund Act 2008 .
"Communications Department" means the Department administered by the Communications Minister.
"Communications Minister" means the Minister who administers the Telecommunications Act 1997 .
"debenture" has the same meaning as in the Corporations Act 2001 .
"derivative" means a derivative (within the meaning of Chapter 7 of the Corporations Act 2001 ) that is a financial asset.
"designated education infrastructure-related matter" has the meaning given by section 143.
"drawing right" means a drawing right issued under section 27 of the Financial Management and Accountability Act 1997 .
"Education Department" means the Department administered by the Education Minister.
"Education Investment Fund" means the Education Investment Fund established by section 131.
"Education Investment Fund investment function" of the Future Fund Board means:
(a) a function or power conferred on the Future Fund Board by section 151, 153, 159, 161, 163 or 164; or
(b) a right or power conferred on the Future Fund Board in its capacity as the holder of an investment of the Education Investment Fund.
"Education Investment Fund Investment Mandate" has the meaning given by subsection 154(4).
"Education Investment Fund Special Account" means the Education Investment Fund Special Account established by section 132.
"Education Minister" means the Minister who administers Part 2-2 of the Higher Education Support Act 2003 .
Note: Part 2-2 of the Higher Education Support Act 2003 deals with the Commonwealth Grant Scheme.
"EIF Advisory Board" means the Education Investment Fund Advisory Board established under section 170.
"EIF designated Ministers" means:
(a) the Education Minister; and
(b) the Research Minister.
"EIF Education Portfolio Special Account" means the EIF Education Portfolio Special Account established by section 181.
"EIF evaluation criteria" means evaluation criteria under section 172.
"EIF Research Portfolio Special Account" means the EIF Research Portfolio Special Account established by section 188.
"eligible national broadband network matter" has the meaning given by section 23.
"Energy Department" means the Department administered by the Energy Minister.
"Energy Minister" means the Minister who administers the Australian Energy Market Act 2004 .
"Finance Department" means the Department administered by the Finance Minister.
"Finance Minister" has the same meaning as in the Financial Management and Accountability Act 1997 .
"financial asset" has the meaning given by section 5.
"Future Fund Board" means the Future Fund Board of Guardians.
"Future Fund Board member" means a member of the Future Fund Board, and includes the Chair.
"Future Fund Special Account" means the Future Fund Special Account established by section 12 of the Future Fund Act 2006 .
"GFS Australia" means the publication of the Australian Bureau of Statistics known as Australian System of Government Finance Statistics: Concepts, Sources and Methods, as updated from time to time. This updating takes 2 forms, as follows:
(a) from time to time, a new version of the publication is produced;
(b) from time to time, material in the current version of the publication is updated by other publications of the Australian Bureau of Statistics.
"GFS system" has the same meaning as in GFS Australia.
"Health and Hospitals Fund" means the Health and Hospitals Fund established by section 214.
"Health and Hospitals Fund investment function" of the Future Fund Board means:
(a) a function or power conferred on the Future Fund Board by section 227, 228, 234, 236, 238 or 239; or
(b) a right or power conferred on the Future Fund Board in its capacity as the holder of an investment of the Health and Hospitals Fund.
"Health and Hospitals Fund Investment Mandate" has the meaning given by subsection 229(4).
"Health and Hospitals Fund Special Account" means the Health and Hospitals Fund Special Account established by section 215.
"Health Department" means the Department administered by the Health Minister.
"Health Minister" means the Minister responsible for administering the Health Insurance Act 1973 .
"HHF Advisory Board" means the Health and Hospitals Fund Advisory Board established under section 245.
"HHF evaluation criteria" means evaluation criteria under section 247.
"HHF Health Portfolio Special Account" means the HHF Health Portfolio Special Account established by section 255.
"higher education institution" means an institution specified in a legislative instrument made by the EIF designated Ministers for the purposes of this definition.
"Infrastructure Department" means the Department administered by the Infrastructure Minister.
"Infrastructure Minister" means the Minister who administers the Infrastructure Australia Act 2008 .
"investment" means any mode of application of money or financial assets for the purpose of gaining a return (whether by way of income, capital gain or any other form of return).
"investment manager" means a person or body (other than the Agency) who undertakes to do any or all of the following:
(a) invest amounts on behalf of the Future Fund Board;
(b) manage the investment of funds on behalf of the Future Fund Board;
(c) acquire derivatives on behalf of the Future Fund Board;
(d) manage derivatives on behalf of the Future Fund Board;
(e) enter into securities lending arrangements on behalf of the Future Fund Board;
(f) realise financial assets on behalf of the Future Fund Board;
(g) perform custodial functions in relation to the financial assets of the Future Fund Board.
"investment of the Building Australia Fund" means a financial asset that, under a provision of this Act, is taken to be an investment of the Building Australia Fund.
"investment of the Education Investment Fund" means a financial asset that, under a provision of this Act, is taken to be an investment of the Education Investment Fund.
"investment of the Health and Hospitals Fund" means a financial asset that, under a provision of this Act, is taken to be an investment of the Health and Hospitals Fund.
"modifications" includes additions, omissions and substitutions.
"national broadband network" means a national telecommunications network for the high-speed carriage of communications. For this purpose, carriage , communications and telecommunications network have the same meanings as in the Telecommunications Act 1997 .
Note: See also subsection 7(2).
"payment in relation to the creation or development of communications infrastructure" has a meaning affected by section 22.
"payment in relation to the creation or development of eligible education infrastructure" has the meaning given by section 142.
"payment in relation to the creation or development of energy infrastructure" has a meaning affected by section 24.
"payment in relation to the creation or development of health infrastructure" has a meaning affected by section 220.
"payment in relation to the creation or development of higher education infrastructure" has the meaning given by section 139.
"payment in relation to the creation or development of research infrastructure" has the meaning given by section 140.
"payment in relation to the creation or development of transport infrastructure" has a meaning affected by section 21.
"payment in relation to the creation or development of vocational education and training infrastructure" has the meaning given by section 141.
"payment in relation to the creation or development of water infrastructure" has a meaning affected by section 25.
"person" (except in Division 2 of Part 3.4 and Division 2 of Part 4.4) includes a partnership.
Note: See also subsection 2C(1) of the Acts Interpretation Act 1901 .
"realise" includes redeem or dispose of.
"Research Department" means the Department administered by the Research Minister.
"research institution" means an institution specified in a legislative instrument made by the EIF designated Ministers for the purposes of this definition.
"Research Minister" means the Minister who administers the Australian Research Council Act 2001 .
"responsible Ministers" means:
(a) the Treasurer; and
(b) the Finance Minister.
"securities lending arrangement" means an agreement of the kind known as a securities lending arrangement.
"transitional HEEF payment" has the meaning given by section 144.
"Treasury Department" means the Department administered by the Treasurer.
"value" of an investment of:
(a) the Building Australia Fund; or
(b) the Education Investment Fund; or
(c) the Health and Hospitals Fund;
means the market value of the investment. For this purpose, disregard anything that would prevent or restrict conversion of a financial asset to money.
"vocational education and training provider" means a person or body specified in a legislative instrument made by the EIF designated Ministers for the purposes of this definition.
"Water Department" means the Department administered by the Water Minister.
"Water Minister" means the Minister who administers the Water Act 2007 .