Commonwealth legislation

Building Australia Fund (Initial Credit) Determination 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This Act has been repealed and is no longer in force. It is retained for historical reference.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

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This determination authorizes a $7.5 billion payment into the Building Australia Fund—a special government account used to finance major infrastructure projects across Australia.

The Treasurer and Minister for Finance made this instrument in June 2009 under the Nation-building Funds Act 2008. It simply directs that this money be credited to the Fund's special account on 12 June 2009.

Essentially, this is the initial capital injection (the starting cash) that allowed the Building Australia Fund to begin operating and funding roads, rail, ports, broadband, and other nation-building infrastructure projects.

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Current sections

Direct links to the current provisions in Building Australia Fund (Initial Credit) Determination 2009.

Building Australia Fund (Initial Credit) Determination 2009

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Building Australia Fund (Initial Credit) Determination 20091

Nation-building Funds Act 2008

We, WAYNE SWAN, Treasurer, and LINDSAY TANNER, Minister for Finance and Deregulation, make this Determination under subsection 14(1) of the Nation-building Funds Act 2008.

Dated 9 June 2009

Wayne Swan Lindsay Tanner

Treasurer Minister for Finance and Deregulation

1 Name of Determination

This Determination is the Building Australia Fund (Initial Credit) Determination 2009.

2 Commencement

This Determination commences on the day on which it is registered.

Note Section 42 of the Legislative Instruments Act 2003 (which deals with the disallowance of legislative instruments) does not apply to this instrument: see subsection 14(5) of the Nation-building Funds Act 2008.

3 Initial credit

For paragraph 14(1)(a) of the Nation-building Funds Act 2008, the amount of $7.5 billion is to be credited to the Building Australia Fund Special Account on 12 June 2009.

Note The Building Australia Fund Special Account is established by section 13 of the Nation-building Funds Act 2008.

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 (Initial Credit) Determination 2009