34ADeterminations—advice given by the Future Fund Board

34A Determinations—advice given by the Future Fund Board

(1) Before making a determination under subsection 34(2) or (3), the responsible Ministers must give the Future Fund Board a written notice that: (a) sets out a draft of the determination; and (b) requires the Future Fund Board to: (i) give advice to those Ministers about the impact of the making of the determination on the ability of the Future Fund Board to comply with this Act and the Disaster Ready Fund Investment Mandate; and (ii) do so within the period specified in the notice; and (c) requires the Future Fund Board, in giving that advice, to have regard to: (i) the Disaster Ready Fund Investment Mandate; and (ii) such other matters (if any) as are specified in the notice. (2) The Future Fund Board must comply with a requirement in a notice under subsection (1). (3) A period specified under subparagraph (1)(b)(ii) must not be shorter than 60 days after the notice is given. (4) A matter specified under subparagraph (1)(c)(ii) must not be inconsistent with: (a) this Act; or (b) the Disaster Ready Fund Investment Mandate. (5) Paragraph (1)(c) does not, by implication, limit the matters to which the Future Fund Board may have regard. (6) The advice given by the Future Fund Board in accordance with subparagraph (1)(b)(i) must be tabled in each House of the Parliament with the relevant determination.

Note: As the determination is a legislative instrument, it is also tabled in each House of the Parliament under section 38 of the Legislation Act 2003.