CTHRepealedAct
Nation-building Funds Act 2008
192Payments—debit from the EIF Research Portfolio Special Account
Start here
Get a plain-English read of 192
Turn the raw legal text into a practical explanation grounded in Nation-building Funds Act 2008.
#### 192 Payments—debit from the EIF Research Portfolio Special Account
Scope
(1) This section applies if:
(a) the Finance Minister gives a direction under subsection 190(1) for a purpose in relation to a payment; and
(b) the amount specified in the direction is credited to the EIF Research Portfolio Special Account.
Debit from the EIF Research Portfolio Special Account
(2) The Research Minister must ensure that, as soon as practicable after the amount is credited, the EIF Research Portfolio Special Account is debited for the purposes of making the payment.
(3) However, if the payment cannot be made, an amount equal to the credited amount is to be:
(a) debited from the EIF Research Portfolio Special Account; and
(b) credited to the Education Investment Fund Special Account.