Commonwealth Consolidated Acts

NATIONAL RECONSTRUCTION FUND CORPORATION ACT 2023 - SECT 58

  (1)   If, at any time, the sum of the surplus money of:

  (a)   the Corporation; and

  (b)   any wholly - owned subsidiaries of the Corporation;

exceeds:

  (c)   $20 million; or

  (d)   if the rules prescribe a different amount--the prescribed amount;

the Ministers may, in writing:

  (e)   direct the Corporation to pay to the Commonwealth an amount equal to the excess; or

  (f)   direct the Corporation to pay to the Commonwealth an amount equal to a specified part of the excess.

  (2)   Money of the Corporation is surplus money if it is not immediately required for the purposes of the Corporation.

  (3)   Money of a wholly - owned subsidiary is surplus money if it is not immediately required for the purposes of the subsidiary.

  (4)   The Corporation must comply with the direction.

Note:   The amount paid by the Corporation is credited to the Account under paragraph   52(1)(b).

  (5)   The rules may prescribe an amount for the purposes of paragraph   (1)(d) by prescribing either or both of the following:

  (a)   an amount;

  (b)   a method or methods of calculating an amount.