Royalties for Regions Act 2009

sections 1 and 2 — on the day on which this Act receives the Royal Assent;

the rest of the Act — on a day fixed by proclamation, and different days may be fixed for different provisions.

The Fund is to consist of the following subsidiary accounts —

the Country Local Government Fund;

the Regional Community Services Fund;

the Regional Infrastructure and Headworks Fund;

any other account determined by the Treasurer, on the recommendation of the Minister, to be a subsidiary account.

The Treasurer, on the recommendation of the Minister, is to determine from time to time the way in which money standing to the credit of the Fund is to be allocated between the subsidiary accounts.

In this section —

the part of the budget papers for the financial year, tabled in the Legislative Assembly, that is titled “General Government Operating Statement”; or

if the regulations prescribe another part of those budget papers — that other part.

In each financial year the Treasurer is to cause to be credited to the Fund an amount equal to 25% of the forecast royalty income for the financial year.

The Treasurer is not to cause an amount to be credited under subsection (2) to the extent that to do so would be contrary to section 8.

Amounts credited under subsection (2) are to be charged to the Consolidated Account.

In addition to amounts credited under section 6(2), the Treasurer is to cause to be credited to the Fund —

income derived from the investment of money standing to the credit of the Fund; and

any other money lawfully made available to the Fund.

The Treasurer is not to cause money to be credited to the Fund under subsection (1) to the extent that to do so would be contrary to section 8.

The Minister, with the Treasurer’s concurrence, may authorise the expenditure of money standing to the credit of the Fund for the following purposes —

to provide infrastructure and services in regional Western Australia;

to develop and broaden the economic base of regional Western Australia;

to maximise job creation and improve career opportunities in regional Western Australia.

There are to be charged to the Fund —

expenditure authorised under subsection (1); and

expenditure incurred in the administration of the Fund; and

expenditure incurred in the administration of the Trust, including any remuneration or allowances payable to its members; and

any other expenditure incurred in the administration of this Act.

to provide advice and make recommendations to the Minister for the purposes of sections 5(2) and 9(1); and

to provide advice and make recommendations to the Minister on any other matter relating to the operation of the Fund that is referred to it by the Minister.