Credits of amounts

Current

(1)

$10 billion is to be credited to the Housing Australia Future Fund Special Account as soon as practicable after the commencement of this section.

(2)

The responsible Ministers may, by writing, determine that:

(a)

a specified amount is to be credited to the Housing Australia Future Fund Special Account on a specified day; or

(b)

a specified amount is to be credited to the Housing Australia Future Fund Special Account in specified instalments on specified days.

Note 1:

For variation and revocation, see subsection 33(3) of the Acts Interpretation Act 1901.

Note 2:

Amounts must also be credited to the Housing Australia Future Fund Special Account under sections 26, 30, 31, 33, 40, 51 and 53.

(3)

A determination under subsection (2) is a legislative instrument, but section 42 (disallowance) of the Legislation Act 2003 does not apply to the determination.

This Act’s bill:Explanatory memorandum Second reading speech

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11 Credits of amounts