Disaster Ready Fund Act 2019
8Simplified outline of this Part
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8 Simplified outline of this Part
• The Disaster Ready Fund consists of:
(a) the Disaster Ready Fund Special Account; and
(b) the investments of the Disaster Ready Fund.
• The responsible Ministers may determine that additional amounts be credited to the Disaster Ready Fund Special Account.
• Each of the following is a purpose of the Disaster Ready Fund Special Account:
(a) to transfer amounts to the Disaster Ready Fund Payments Special Account for the purposes of making payments and grants in relation to natural disasters;
(b) to transfer amounts to the Federation Reform Fund for the purposes of making grants to the States and Territories in relation to natural disasters.
• The Disaster Ready Fund Special Account can be debited in relation to costs and other obligations incurred by the Future Fund Board in managing the Disaster Ready Fund.