Commonwealth Consolidated Acts

DISASTER READY FUND ACT 2019

TABLE OF PROVISIONS

           Long Title

   PART 1--PRELIMINARY

   1.      Short title  
   2.      Commencement  
   3.      Simplified outline of this Act  
   4.      Definitions  
   5.      Crown to be bound  
   6.      Extension to external Territories  
   7.      Extra - territorial application  

   PART 2--DISASTER--READY FUND

           Division 1--Introduction

   8.      Simplified outline of this Part  

           Division 2--Establishment of the Disaster Ready Fund and the Disaster Ready Fund Special Account

   9.      Disaster Ready Fund  
   9A.     Transitional--investments of the Disaster Ready Fund  
   12.     Disaster Ready Fund Special Account  

           Division 3--Credits of amounts to the Disaster Ready Fund Special Account

   13.     Credits of amounts  

           Division 4--Debits of amounts from the Disaster Ready Fund

   14.     Main purposes of the Disaster Ready Fund Special Account  
   15.     Purposes of the Disaster Ready Fund Special Account--purposes related exclusively to the investments etc. of the Disaster Ready Fund  
   16.     Purposes of the Disaster Ready Fund Special Account--purposes not related exclusively to the Disaster Ready Fund  
   17.     Future Fund Board must ensure that the balance of the Disaster Ready Fund Special Account is sufficient to cover authorised debits etc.  
   18.     Transfers from the Disaster Ready Fund to the Future Fund  

   PART 3--ARRANGEMENTS--AND GRANTS RELATING TO NATURAL DISASTERS

           Division 1--Introduction

   19.     Simplified outline of this Part  

           Division 2--Arrangements and grants

   20.     Arrangements and grants  
   21.     Terms and conditions of grants  
   22.     Emergency Management Minister has powers etc. of the Commonwealth  
   23.     Conferral of powers on the Emergency Management Minister  
   24.     Constitutional limits  
   25.     Executive power of the Commonwealth  
   26.     Publication of information relating to arrangements and grants  
   26A.    Annual report regarding arrangements and grants  
   26B.    Review of arrangements and grants  

           Division 3--Disaster Ready Fund Payments Special Account

   27.     Disaster Ready Fund Payments Special Account  
   28A.    Transfers from the Disaster Ready Fund Special Account to the Disaster Ready Fund Payments Special Account--resilience etc.  
   29.     Other credits to the Disaster Ready Fund Payments Special Account  
   30.     Purposes of the Disaster Ready Fund Payments Special Account  
   31.     Excess balance of the Disaster Ready Fund Payments Special Account must be transferred to the Disaster Ready Fund Special Account  

           Division 4--Channelling State/Territory grants through the Federation Reform Fund

   32A.    Channelling State/Territory grants through the Federation Reform Fund--resilience etc.  
   33.     Debits from the Federation Reform Fund  

           Division 5--Limitation on total annual debits from the Disaster Ready Fund Special Account

   34.     Limitation on total annual debits from the Disaster Ready Fund Special Account  
   34A.    Determinations--advice given by the Future Fund Board  

   PART 4--INVESTMENT--OF THE DISASTER READY FUND

   35.     Simplified outline of this Part  
   36.     Objects of investment of the Disaster Ready Fund  
   37.     Investment of the Disaster Ready Fund  
   38.     Management of investments of the Disaster Ready Fund  
   39.     Disaster Ready Fund Investment Mandate  
   40.     Obligation on Future Fund Board in performing investment functions  
   41.     Limitation on Disaster Ready Fund Investment Mandate  
   42.     Future Fund Board to be consulted on Disaster Ready Fund Investment Mandate  
   43.     Compliance with Disaster Ready Fund Investment Mandate  
   44.     Future Fund Board must not trigger the takeover provisions of the Corporations Act 2001  
   45.     Borrowing  
   46.     Disaster Ready Fund investment policies  
   47.     Derivatives  
   48.     Additional financial assets  
   49.     Securities lending arrangements  
   50.     Investment managers  
   51.     Refund of franking credits  
   52.     Realisation of non - financial assets  
   53.     Additional function of the Future Fund Board  

   PART 5--REPORTING--OBLIGATIONS ETC.

   54.     Simplified outline of this Part  
   55.     Finance Minister may require Future Fund Board to prepare reports or give information  
   56.     Keeping the responsible Ministers informed etc.  
   57.     Finance Minister may give reports, documents and other information to other Ministers  

   PART 6--MISCELLANEOUS

   58.     Simplified outline of this Part  
   59.     Delegation by the Finance Minister  
   60.     Delegation by the Treasurer  
   61.     Delegation by the Emergency Management Minister  
   63.     Review of operation of Act  
   64.     Rules