Mineral and Energy Resources (Financial Provisioning) Act 2018
sec.25AEstablishment of residual risks fund
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sec.25A Establishment of residual risks fund
The Residual Risks Fund is established. Accounts for the residual risks fund must be kept as part of the departmental accounts of the department. Amounts received for the residual risks fund— must be deposited in a departmental financial institution account of the department; and may be deposited in an account used for depositing other amounts of the department. Amounts received for the residual risks fund are— residual risk payment amounts; or amounts earned as interest on the residual risks fund or as a return from investment of monies in the residual risks fund. An amount mentioned in subsection (4) is a controlled receipt for the Financial Accountability Act 2009 . An amount is payable from the residual risks fund— for payment of costs and expenses related to the administration of the fund; or under part 3A . s 25A ins 2020 No. 26 s 107 (sec.25A-ssec.1) The Residual Risks Fund is established. (sec.25A-ssec.2) Accounts for the residual risks fund must be kept as part of the departmental accounts of the department. (sec.25A-ssec.3) Amounts received for the residual risks fund— must be deposited in a departmental financial institution account of the department; and may be deposited in an account used for depositing other amounts of the department. (sec.25A-ssec.4) Amounts received for the residual risks fund are— residual risk payment amounts; or amounts earned as interest on the residual risks fund or as a return from investment of monies in the residual risks fund. (sec.25A-ssec.5) An amount mentioned in subsection (4) is a controlled receipt for the Financial Accountability Act 2009 . (sec.25A-ssec.6) An amount is payable from the residual risks fund— for payment of costs and expenses related to the administration of the fund; or under part 3A .
- (a) must be deposited in a departmental financial institution account of the department; and
- (b) may be deposited in an account used for depositing other amounts of the department.
- (a) residual risk payment amounts; or
- (b) amounts earned as interest on the residual risks fund or as a return from investment of monies in the residual risks fund.
- (a) for payment of costs and expenses related to the administration of the fund; or
- (b) under part 3A .