Commonwealth legislation

Financial Management and Accountability (Determination 2003/04) Childcare Centre Capital Replacement and Upgrade Special Account - Establishment

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This Act has been repealed and is no longer in force. It is retained for historical reference.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 special bank account (called a Special Account) to manage money from the sale of Australian Government-owned childcare centres.

What it does:

Establishes the account: Creates the "Childcare Centre Capital Replacement and Upgrade Special Account" under the Financial Management and Accountability Act 1997 (the main law governing how the Commonwealth handles public money).
Sources of money: Any proceeds from selling Australian Government funded childcare centres can be deposited into this account.
How money is spent: Funds can only be used for two purposes: (1) building new Australian Government funded childcare centres, or (2) renovating existing ones.

Why it matters: This creates a dedicated funding loop for childcare infrastructure. Rather than sale proceeds disappearing into general government revenue, they are ring-fenced to reinvest directly back into childcare facilities. This ensures that selling surplus or outdated childcare properties automatically funds new or upgraded services.

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Financial Management and Accountability (Determination 2003/04) Childcare Centre Capital Replacement and Upgrade Special Account - Establishment

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Financial Management and Accountability (Determination 2003/04) Childcare Centre Capital Replacement and Upgrade Special Account - Establishment

I, NICK MINCHIN, Minister for Finance and Administration, make this Determination under subsection 20 (1) of the Financial Management and Accountability Act 1997.

Dated 26 November 2003

Nick Minchin

Minister for Finance and Administration

1 Name of Determination

This Determination is the Financial Management and Accountability (Determination 2003/04) Childcare Centre Capital Replacement and Upgrade Special Account - Establishment.

Note This Determination commences in accordance with section 22 of the Financial Management and Accountability Act 1997.

2 Establishment of Special Account

(1) A Special Account is established with the name Childcare Centre Capital Replacement and Upgrade Special Account.

3 Amounts to be credited to the Childcare Centre Capital Replacement and Upgrade Special Account

All amounts received by the Commonwealth from the sale of an Australian Government funded Childcare Centre may be credited to the Childcare Centre Capital Replacement and Upgrade Special Account.

4 Purposes of the Childcare Centre Capital Replacement and Upgrade Special Account

(1) The purposes for which the Childcare Centre Capital Replacement and Upgrade Special Account may be debited are:

the establishment of new Australian Government funded child care centres; and
the renovation of existing Australian Government funded child care centres.

Source text

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

1 Financial Management and Accountability (Determination 2003/04) Childcare Centre Capital Replacement and Upgrade Special Account - Establishment

Financial Management and Accountability (Determination 2003/04) Childcare Centre Capital Replacement and Upgrade Special Account - Establishment

I, NICK MINCHIN, Minister for Finance and Administration, make this Determination under subsection 20 (1) of the Financial Management and Accountability Act 1997.

Dated 26 November 2003

Nick Minchin

Minister for Finance and Administration

1 Name of Determination

This Determination is the Financial Management and Accountability (Determination 2003/04) Childcare Centre Capital Replacement and Upgrade Special Account - Establishment.

Note This Determination commences in accordance with section 22 of the Financial Management and Accountability Act 1997.

2 Establishment of Special Account

(1) A Special Account is established with the name Childcare Centre Capital Replacement and Upgrade Special Account.

3 Amounts to be credited to the Childcare Centre Capital Replacement and Upgrade Special Account

All amounts received by the Commonwealth from the sale of an Australian Government funded Childcare Centre may be credited to the Childcare Centre Capital Replacement and Upgrade Special Account.

4 Purposes of the Childcare Centre Capital Replacement and Upgrade Special Account

(1) The purposes for which the Childcare Centre Capital Replacement and Upgrade Special Account may be debited are:

the establishment of new Australian Government funded child care centres; and
the renovation of existing Australian Government funded child care centres.