Commonwealth Consolidated Acts

DISASTER READY FUND ACT 2019 - SECT 31

Half - yearly assessment

  (1)   At a time during the first 15 days of each half - year, the Emergency Management Minister must make an assessment of:

  (a)   whether the balance of the Disaster Ready Fund Payments Special Account exceeds what is sufficient to:

  (i)   pay amounts that will become payable by the Commonwealth under section   20 arrangements during the 12 - month period that began at the start of the half - year; and

  (ii)   make section   20 grants (other than grants to a State or Territory) during the 12 - month period that began at the start of the half - year; and

  (b)   if so, the amount of the excess.

Transfer

  (2)   If the Emergency Management Minister makes an assessment of the amount of the excess, the Emergency Management Minister must:

  (a)   in writing, direct that a specified amount (which must equal the assessed amount of the excess) is to be:

  (i)   debited from the Disaster Ready Fund Payments Special Account; and

  (ii)   credited to the Disaster Ready Fund Special Account;

    as soon as practicable after the direction is given; and

  (b)   do so as soon as practicable after the assessment is made.

  (3)   A direction under subsection   (2) is a notifiable instrument.

  (4)   If the Emergency Management Minister personally gives a direction under subsection   (2), the Emergency Management Minister must give a copy of the direction to the Treasurer and the Finance Minister.

  (5)   If a delegate of the Emergency Management Minister gives a direction under subsection   (2), the delegate must give a copy of the direction to the Treasury Department and the Finance Department.