s 47D
In forceCap on the Account and transfers to general CRF
Part 5Finance
Division 1Housing Australia Special Account
47D Cap on the Account and transfers to general CRF
(1)
If, at a particular time, the balance of the Account exceeds $4 billion, an amount equal to the excess is debited from the Account immediately after that time.
(2)
The Minister may, by writing, direct that a specified amount is to be debited from the Account on a specified day (which must be on or after the day the direction is made).
(3)
The Minister must consult the Board before making a direction under subsection (2).
(4)
A direction under subsection (2) is not a legislative instrument.
(5)
The Minister must give a copy of a direction under subsection (2) to the Finance Minister.
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