Commonwealth legislation

Health and Hospitals Fund (Initial Credits) Determination 2009

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This Act has been repealed and is no longer in force. It is retained for historical reference.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

1/10 complexity

This determination puts $1 billion into a special government bank account called the Health and Hospitals Fund.

What it does:

Credits $1 billion to the Health and Hospitals Fund Special Account on 20 February 2009
This money is set aside specifically for health and hospital infrastructure projects

Who made it:

The Treasurer and Minister for Finance in February 2009, using powers under the Nation-building Funds Act 2008

What is a Special Account? Think of it as a dedicated piggy bank within the government's accounts. Money in this account can only be spent on specific health and hospital projects, not general government expenses.

Why it matters: This was the initial seed funding that kicked off the Health and Hospitals Fund, allowing the government to start financing major health infrastructure projects across Australia.

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Current sections

Direct links to the current provisions in Health and Hospitals Fund (Initial Credits) Determination 2009.

Health and Hospitals Fund (Initial Credits) Determination 2009

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Health and Hospitals Fund (Initial Credits) Determination 2009[1]

Nation-building Funds Act 2008

We, WAYNE SWAN, Treasurer, and LINDSAY TANNER, Minister for Finance and Deregulation, make this Determination under subsection 216(1) of the Nation-building Funds Act 2008.

Dated 13 February 2009

Wayne Swan Lindsay Tanner

Treasurer Minister for Finance and Deregulation

1 Name of Determination

This Determination is the Health and Hospitals Fund (Initial Credits) Determination 2009.

2 Commencement

This Determination commences on the day on which it is registered.

Note Section 42 of the Legislative Instruments Act 2003 (which deals with the disallowance of legislative instruments) does not apply to this instrument: see subsection 216(5) of the Nation-building Funds Act 2008.

3 Initial Credit

For paragraph 216(1)(a) of the Nation-building Funds Act 2008, the amount of $1 billion is to be credited to the Health and Hospitals Fund Special Account on 20 February 2009.

Note The Health and Hospitals Fund Special Account is established by section 215 of the Nation-building Funds Act 2008.

Note

All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See http://www.frli.gov.au.

Source text

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

1 Health and Hospitals Fund (Initial Credits) Determination 2009