Commonwealth legislation

Medical Research Future Fund (Amount to be Transferred from the Health and Hospitals Fund) Determination 2015

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This Act has been repealed and is no longer in force. It is retained for historical reference.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 instrument authorises a one‑off transfer of about $1.01 billion from the Health and Hospitals Fund into the Medical Research Future Fund (MRFF), shifting capital between government special funds to seed the MRFF’s endowment.

It matters because the MRFF will invest this capital and spend only the returns on medical research, affecting Treasury account managers, medical researchers and universities seeking grants, and hospitals that previously relied on the Health and Hospitals Fund. The transfer is exempt from parliamentary disallowance under s.12(2).

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Current sections

Direct links to the current provisions in Medical Research Future Fund (Amount to be Transferred from the Health and Hospitals Fund) Determination 2015.

Medical Research Future Fund Act 2015

Medical Research Future Fund (Amount to be Transferred from the Health and Hospitals Fund) Determination 20151

Medical Research Future Fund Act 2015

1. Name of Determination

This determination is the Medical Research Future Fund (Amount to be Transferred from the Health and Hospitals Fund) Determination 2015.

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 disallowance of legislative instruments) does not apply to this instrument: see section 12 (2) of the Medical Research Future Fund Act 2015.

3. Amount to be transferred

For section 12 (1) (a) of the Medical Research Future Fund Act 2015, $1,010,000,000 is to be transferred from the Health and Hospitals Fund to the Medical Research Future Fund.

Note The Medical Research Future Fund is the Medical Research Future Fund established by section 11 of the Medical Research Future Fund Act 2015.

Note

Note: 1. 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.

Medical Research Future Fund Act 2015 Medical Research Future Fund Act 2015

Medical Research Future Fund (Amount to be Transferred from the Health and Hospitals Fund) Determination 20151

Medical Research Future Fund Act 2015

1. Name of Determination 1. Name of Determination

1. Name of Determination

This determination is the Medical Research Future Fund (Amount to be Transferred from the Health and Hospitals Fund) Determination 2015.

2. Commencement 2. Commencement

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 disallowance of legislative instruments) does not apply to this instrument: see section 12 (2) of the Medical Research Future Fund Act 2015.

3. Amount to be transferred 3. Amount to be transferred

3. Amount to be transferred

For section 12 (1) (a) of the Medical Research Future Fund Act 2015, $1,010,000,000 is to be transferred from the Health and Hospitals Fund to the Medical Research Future Fund.

Note The Medical Research Future Fund is the Medical Research Future Fund established by section 11 of the Medical Research Future Fund Act 2015.

Note

Note: 1. 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.