•   The Disaster Ready Fund consists of:

  (a)   the Disaster Ready Fund Special Account; and

  (b)   the investments of the Disaster Ready Fund.

•   The responsible Ministers may determine that additional amounts be credited to the Disaster Ready Fund Special Account.

•   Each of the following is a purpose of the Disaster Ready Fund Special Account:

  (a)   to transfer amounts to the Disaster Ready Fund Payments Special Account for the purposes of making payments and grants in relation to natural disasters;

  (b)   to transfer amounts to the Federation Reform Fund for the purposes of making grants to the States and Territories in relation to natural disasters.

•   The Disaster Ready Fund Special Account can be debited in relation to costs and other obligations incurred by the Future Fund Board in managing the Disaster Ready Fund.