Australian Business Securitisation Fund Act 2019

This Part sets up the Australian Business Securitisation Fund.

The Fund consists of the Australian Business Securitisation Fund Special Account and the investments of the Fund.

The investments of the Fund must be debt securities that meet certain requirements and the investments must be made in accordance with any directions given by the Minister.

A total of $2 billion must be credited to the Account, with an initial amount of $250 million credited on 1 July 2019 and additional amounts credited on each 1 July for the following 4 years. The Minister may also, with the agreement of the Finance Minister, determine that additional amounts be credited to the Fund.

Amounts may be debited from the Account for the purposes of the Account, which include paying the costs of making investments. The Minister may also determine that the balance of the Account be reduced.