Future Drought Fund Act 2019

In this Act:

accountable authority has the same meaning as in the Public Governance, Performance and Accountability Act 2013.

acquire includes acquire by way of issue.

advisory affairs of the Regional Investment Corporation Board means the affairs of the Regional Investment Corporation Board that relate to its function of giving advice to the Drought Minister under section 28.

Agency means the Future Fund Management Agency.

Agriculture Department means the Department administered by the Agriculture Minister.

Agriculture Future Drought Resilience Special Account means the Agriculture Future Drought Resilience Special Account established by section 33.

Agriculture Minister means the Minister administering the Primary Industries Research and Development Act 1989.

Appropriation Act means an Act appropriating money for expenditure out of the Consolidated Revenue Fund.

arrangement includes contract, agreement or deed. This definition does not apply to the expressions “securities lending arrangement” or “securities lending arrangements”.

asset has the same meaning as in the Future Fund Act 2006.

balance of the Future Drought Fund means the sum of:

bank has the same meaning as in the Public Governance, Performance and Accountability Act 2013.

Biodiversity Convention means the Convention on Biological Diversity, done at Rio de Janeiro on 5 June 1992, as amended and in force for Australia from time to time.

Building Australia Fund means the Building Australia Fund that was established by section 12 of the Nation‑building Funds Act 2008 before that section was repealed.

Building Australia Fund Special Account means the Building Australia Fund Special Account that was established by section 13 of the Nation‑building Funds Act 2008 before that section was repealed.

business entity means:

Climate Change Convention means the United Nations Framework Convention on Climate Change, done at New York on 9 May 1992, as amended and in force for Australia from time to time.

Commonwealth entity has the same meaning as in the Public Governance, Performance and Accountability Act 2013.

constitutional corporation means a corporation to which paragraph 51(xx) of the Constitution applies.

derivative means a derivative (within the meaning of Chapter 7 of the Corporations Act 2001) that is a financial asset.

Desertification Convention means the United Nations Convention to Combat Desertification in those Countries Experiencing Serious Drought and/or Desertification, Particularly in Africa, done at Paris on 17 June 1994, as amended and in force for Australia from time to time.

drought means drought in Australia.

Drought Minister means:

drought resilience means:

Drought Resilience Funding Plan has the meaning given by subsection 31(2).

Federation Reform Fund means the Federation Reform Fund established by section 5 of the Federation Reform Fund Act 2008.

Finance Department means the Department administered by the Finance Minister.

Finance Minister has the same meaning as in the Public Governance, Performance and Accountability Act 2013.

financial asset has the same meaning as in the Future Fund Act 2006.

Future Drought Fund means the Future Drought Fund established by section 10.

Future Drought Fund investment function of the Future Fund Board means:

Future Drought Fund Investment Mandate has the meaning given by subsection 41(3).

Future Drought Fund Special Account means the Future Drought Fund Special Account established by section 13.

Future Fund Board means the Future Fund Board of Guardians established by section 34 of the Future Fund Act 2006.

Future Fund Special Account means the Future Fund Special Account established by section 12 of the Future Fund Act 2006.

investment means any mode of application of money or financial assets for the purpose of gaining a return (whether by way of income, capital gain or any other form of return).

investment manager means a person or body (other than the Agency) who undertakes to do any or all of the following:

investment of the Building Australia Fund has the same meaning as in the Nation‑building Funds Act 2008 as in force immediately before the commencement of Schedule 2 to the Future Drought Fund (Consequential Amendments) Act 2019.

investment of the Future Drought Fund means a financial asset that, under a provision of this Act, is taken to be an investment of the Future Drought Fund.

Kyoto Protocol means the Kyoto Protocol to the United Nations Framework Convention on Climate Change, done at Kyoto on 11 December 1997, as amended and in force for Australia from time to time.

make, in relation to an arrangement, includes enter into.

member of the Regional Investment Corporation Board includes the Chair of the Regional Investment Corporation Board.

official of a Commonwealth entity has the same meaning as in the Public Governance, Performance and Accountability Act 2013.

Paris Agreement means the Paris Agreement, done at Paris on 12 December 2015, as amended and in force for Australia from time to time.

person includes a partnership.

Ramsar Convention means the Convention on Wetlands of International Importance especially as Waterfowl Habitat, done at Ramsar, Iran, on 2 February 1971, as amended and in force for Australia from time to time.

realise includes redeem or dispose of.

Regional Investment Corporation Board means the Board of the Regional Investment Corporation.

responsible Ministers means:

rules means rules made under section 66.

Treasury Department means the Department administered by the Treasurer.

value of an investment of the Future Drought Fund means the market value of the investment. For this purpose, disregard anything that would prevent or restrict conversion of a financial asset to money.