47DCap on the Account and transfers to general CRF

47D Cap on the Account and transfers to general CRF

(1) If, at a particular time, the balance of the Account exceeds $4 billion, an amount equal to the excess is debited from the Account immediately after that time. (2) The Minister may, by writing, direct that a specified amount is to be debited from the Account on a specified day (which must be on or after the day the direction is made). (3) The Minister must consult the Board before making a direction under subsection (2). (4) A direction under subsection (2) is not a legislative instrument. (5) The Minister must give a copy of a direction under subsection (2) to the Finance Minister.