35Energy Administration Account

35 Energy Administration Account

35 Energy Administration Account

(1) There shall be established in the Special Deposits Account in the Treasury an Energy Administration Account (the Account).

(2) There shall be paid into the Account—

(a) all money received by the Corporation,

(b) such amounts from the Consolidated Fund as the Treasurer determines (a CF originated amount), subject to any necessary appropriation by Parliament.

(c) (Repealed)

(3) The following amounts may be paid out of the Account—

(a) amounts required to meet expenditure incurred in connection with the functions of the Corporation under this or another Act,

(b) amounts as directed by the Treasurer to be paid from the Account into the Consolidated Fund towards the repayment of a CF originated amount in accordance with any terms on which the CF originated amount was paid into the Account.

(4) The Treasurer must not give a direction under subsection (3)(b) without the concurrence of—

(a) the Minister, and

(b) the Minister administering the Electricity Infrastructure Investment Act 2020.

(5) The Treasurer must not give a direction under subsection (3)(b) if the amount directed to be paid is more than the total of—

(a) the CF originated amounts held in the Account at the time of the direction, and

(b) any amounts held in the Account at the time of the direction that were paid into the Account in repayment of a CF originated amount that was paid out of the Account under subsection (3)(a).

s 35: Am 1990 No 27, Sch 3; 1995 No 94, Sch 5.4 [5]; 1996 No 38, Sch 1.4 [1]; 2022 No 63, Sch 4.2[1] [2]; 2024 No 83, Sch 2[1]–[4].