Transfer of unfunded commitments
8E Transfer of unfunded commitments
The operation of section 8D must not result in the transfer to the Commonwealth of any unfunded commitments of Australian Coal Research Limited existing at the time of the transfer, of a total value that exceeds the total value, in real terms, of the unfunded commitments of the Research Account existing immediately before the commencement of the Coal Research Assistance Amendment Act 1992.
In subsection (1), the value in real terms of unfunded commitments of the Research Account means the value of those commitments calculated with reference to the changes in the Consumer Price Index, as published by the Australian Statistician from time to time, during the period beginning on the day of the commencement of the Coal Research Assistance Amendment Act 1992 and ending at the time a determination is made under section 8D.
This Act’s bill:Second reading speech
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