31Excess balance of the Disaster Ready Fund Payments Special Account must be transferred to the Disaster Ready Fund Special Account

31 Excess balance of the Disaster Ready Fund Payments Special Account must be transferred to the Disaster Ready Fund Special Account

Half‑yearly assessment (1) At a time during the first 15 days of each half‑year, the Emergency Management Minister must make an assessment of: (a) whether the balance of the Disaster Ready Fund Payments Special Account exceeds what is sufficient to: (i) pay amounts that will become payable by the Commonwealth under section 20 arrangements during the 12‑month period that began at the start of the half‑year; and (ii) make section 20 grants (other than grants to a State or Territory) during the 12‑month period that began at the start of the half‑year; and (b) if so, the amount of the excess. Transfer (2) If the Emergency Management Minister makes an assessment of the amount of the excess, the Emergency Management Minister must: (a) in writing, direct that a specified amount (which must equal the assessed amount of the excess) is to be: (i) debited from the Disaster Ready Fund Payments Special Account; and (ii) credited to the Disaster Ready Fund Special Account; as soon as practicable after the direction is given; and (b) do so as soon as practicable after the assessment is made. (3) A direction under subsection (2) is a notifiable instrument. (4) If the Emergency Management Minister personally gives a direction under subsection (2), the Emergency Management Minister must give a copy of the direction to the Treasurer and the Finance Minister. (5) If a delegate of the Emergency Management Minister gives a direction under subsection (2), the delegate must give a copy of the direction to the Treasury Department and the Finance Department.