Transfer of funds from capital injection appropriation to other appropriations
14A Transfer of funds from capital injection appropriation to other appropriations
Despite section 6 (Necessity for appropriation), the Treasurer may, in writing, direct that an appropriation for capital injection for an entity be varied by a transfer of funds from that appropriation to an appropriation for—
controlled recurrent payments for the entity; or
payments to be made on behalf of the Territory for the entity.
If the transfer would cause the appropriation for the capital injection to be reduced by—
up to 5% or $500 000, whichever is the greater—the Treasurer must attach a copy of the direction to the next financial statement presented to the Legislative Assembly; or
more than 5% or $500 000, whichever is the greater—the direction is a disallowable instrument.
For the presentation of financial statements, see s 26.
In this section:
appropriation for capital injection means an appropriation for capital injection made by an Appropriation Act in a financial year or, if the appropriation is amended during the financial year, the appropriation as amended.
This Act’s bill:Explanatory statement
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