Commonwealth Consolidated Acts

FUTURE DROUGHT FUND ACT 2019 - SECT 34

Scope

  (1)   This section applies to:

  (a)   the financial year beginning on 1   July 2020; and

  (b)   each subsequent financial year.

Transfers

  (2)   During a financial year, the Finance Minister must, in writing, direct that:

  (a)   $100 million is to be:

  (i)   debited from the Future Drought Fund Special Account; and

  (ii)   credited to the Agriculture Future Drought Resilience Special Account;

    on a specified day in the financial year; or

  (b)   $100 million is to be:

  (i)   debited from the Future Drought Fund Special Account; and

  (ii)   credited to the Agriculture Future Drought Resilience Special Account;

    in specified instalments on specified days in the financial year.

  (3)   A direction under subsection   (2) is not a legislative instrument.

  (4)   The Finance Minister must give a copy of a direction under subsection   (2) to the Treasurer and the Drought Minister.