Commonwealth legislation

Determination by the Minister for Finance and Administration under section 20 of the Financial Management and Accountability Act 1997 - CSS Special Account (14/06/2002)

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This Act has been repealed and is no longer in force. It is retained for historical reference.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

2/10 complexity

This determination creates a CSS Special Account to hold and manage funds for the Commonwealth Superannuation Scheme, including parliamentary appropriations, ComSuper-collected revenue, and transfers from the CSS Fund for investment management. It funds scheme administration and Board duties, and is only usable from 1 July 2002. It matters because it keeps CSS public money segregated and tracked under the Financial Management and Accountability Act, affecting the CSS Board and ComSuper.

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Current sections

Direct links to the current provisions in Determination by the Minister for Finance and Administration under section 20 of the Financial Management and Accountability Act 1997 - CSS Special Account (14/06/2002).

CSS Special Account

I, Nick Minchin, Minister for Finance and Administration, pursuant to section 20 of the Financial Management and Accountability Act 1997, hereby:

(1) establish a Special Account to be called the CSS Special Account (‘the Account’);

(2) determine that the following amounts may be credited to the Account:

(a) amounts appropriated for the purposes of the Account;

(b) amounts received by ComSuper as revenue in the course of the performance by the Commissioner of Superannuation of functions relating to the CSS Scheme;

(d) amounts paid from the CSS Fund in relation to expenditure that is:

(i) incurred by the CSS Board on the management or investment of the CSS Fund; and

(ii) is to be met from the Account;

(3) determine that amounts may be debited to the Account for expenditure relating to:

(a) the administration of the CSS Scheme by the CSS Board;

(b) the performance of any other function conferred on the CSS Board under legislation; and

(c) the management and investment of the CSS Fund by the CSS Board, where a corresponding amount has been or is to be credited to the Account from the CSS Fund in respect of such expenditure; and

(4) determine that no credits to, or debits of, the Account take place before 1 July 2002.

Nick Minchin

Minister for Finance and Administration

14 June 2002

Source text

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

CSS Special Account CSS Special Account