34Transfers to the Agriculture Future Drought Resilience Special Account

34 Transfers to the Agriculture Future Drought Resilience Special Account

Scope (1) This section applies to: (a) the financial year beginning on 1 July 2020; and (b) each subsequent financial year. Transfers (2) During a financial year, the Finance Minister must, in writing, direct that: (a) $100 million is to be: (i) debited from the Future Drought Fund Special Account; and (ii) credited to the Agriculture Future Drought Resilience Special Account; on a specified day in the financial year; or (b) $100 million is to be: (i) debited from the Future Drought Fund Special Account; and (ii) credited to the Agriculture Future Drought Resilience Special Account; in specified instalments on specified days in the financial year. (3) A direction under subsection (2) is not a legislative instrument. (4) The Finance Minister must give a copy of a direction under subsection (2) to the Treasurer and the Drought Minister.