Treasurer to make payments into Fund
6 Treasurer to make payments into Fund
In this section —
forecast royalty income, for a financial year, means the estimate of royalty income for the financial year set out in —
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.
This Act’s bill:Explanatory memorandumSecond reading speech
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