Commonwealth legislation

Building Australia Fund General Drawing Rights Limit Declaration 2009

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

1/10 complexity

This declaration sets an annual spending cap (called a general drawing rights limit) on the Building Australia Fund for the 2008–2009 financial year.

What it does

Limits how much money the government can withdraw from the Building Australia Fund to $1.005 billion (specifically $1,005,000,000) for the financial year ending 30 June 2009.

Background

The Building Australia Fund was a government savings fund used to pay for major infrastructure projects like roads, railways, and ports.
Under the Nation-building Funds Act 2008, the Finance Minister must declare a limit each year on how much can be drawn from the fund.

Who it affects

Government decision-makers managing infrastructure spending. This cap controls the maximum amount available for federal infrastructure investment during that specific financial year.

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Current sections

Direct links to the current provisions in Building Australia Fund General Drawing Rights Limit Declaration 2009.

Building Australia Fund General Drawing Rights Limit Declaration 2009

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Building Australia Fund General Drawing Rights Limit Declaration 20091

Nation-building Funds Act 2008

I, LINDSAY TANNER, Minister for Finance and Deregulation, make this Declaration under paragraph 109 (1) (a) of the Nation-building Funds Act 2008.

Dated 25 May 2009

LINDSAY TANNER

Minister for Finance and Deregulation

1 Name of Declaration

This Declaration is the Building Australia Fund General Drawing Rights Limit Declaration 2009.

2 Commencement

This Declaration commences on the day it is registered.

3 General drawing rights limit for 2008–2009

For the purposes of section 109 of the Nation-building Funds Act 2008, the general drawing rights limit in relation to the financial year ending on 30 June 2009 is $1 005 000 000.

Note

Note: 1. All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See http://www.frli.gov.au.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Building Australia Fund General Drawing Rights Limit Declaration 2009