FMA Act (Variation and abolition of Special Account) Determination 2013/03

Link to law: https://www.comlaw.gov.au/Details/F2013L01050

FMA Act (Variation and abolition of Special Account) Determination 2013/03
Financial Management and Accountability Act 1997
I, PENELOPE YING YEN WONG, Minister for Finance and Deregulation, make this determination under subsections 20 (2) and 20 (3) of the Financial Management and Accountability Act 1997.
Dated 18th June 2013
Minister for Finance and Deregulation
1                Name of Determination
                This determination is the FMA Act (Variation and abolition of Special Account) Determination 2013/03 (the Determination).
Note 1:  All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the LI Act. See http://www.comlaw.gov.au.
Note 2: Section 48A of the LI Act provides for the automatic repeal of amending and abolishing instruments, such as the Determination.  The repeal happens on the day after the last occurrence of either: (a) the commencement of the Determination or of the last of its provisions to commence; or (b) the registration of the Determination.  The repeal does not affect any amendment or abolition made by the Determination.
2                Commencement
                The Determination commences after both the following events have occurred:  the Determination takes effect in accordance with subsection 22 (4) of the FMA Act, and the Royal Australian Mint Special Account commences.
Note       Subsection 22(4) of the FMA Act requires that the Determination be tabled in Parliament for five full sitting days in each House before it can take effect, and either House may pass a resolution disallowing the Determination. If neither House passes such a resolution, the Determination takes effect on the day next following the last day upon which such a resolution could have been passed.
 
3                 Variation
                For paragraph 20 (2) of the FMA Act, Schedule 1 varies the Financial Management and Accountability Determination 2006/02 — Minting and Coinage Special Account Establishment 2006.
4                 Abolition
                For paragraph 20 (3) of the FMA Act, the Minting and Coinage Special Account is abolished on the earlier of:
(a)        the day when its balance reaches zero;
                            (b)        31 December 2013.
5                 Definitions
                In the Determination:
FMA Act means the Financial Management and Accountability Act 1997.
LI Act means the Legislative Instruments Act 2003.
Special Account has the meaning given by section 5 of the FMA Act.
 
 
 
Schedule 1:  Variation of a Special Account determination
(clause 3)
[1]                Subsection 5 (1)
            insert
(e)     to make payments to the Royal Australian Mint Special Account.
 
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