CTHRepealedAct
Nation-building Funds Act 2008
4Definitions
Start here
Get a plain-English read of 4
Turn the raw legal text into a practical explanation grounded in Nation-building Funds Act 2008.
#### 4 Definitions
In this Act:
> acquire includes acquire by way of issue.
> Agency means the Future Fund Management Agency.
> Appropriation Act means an Act appropriating money for expenditure out of the Consolidated Revenue Fund.
> asset means:
(a) any kind of real or personal property; or
(b) any legal or equitable estate or interest in real or personal property; or
(c) any legal or equitable right.
> balance of the Education Investment Fund means the sum of:
(a) amounts standing to the credit of the Education Investment Fund Special Account; and
(b) the value of investments of the Education Investment Fund.
> bank has the same meaning as in the Public Governance, Performance and Accountability Act 2013.
> business entity means:
(a) a company; or
(b) a partnership; or
(c) a trust; or
(d) a body politic.
> carriage service has the same meaning as in the Telecommunications Act 1997.
> Chair means the Chair of the Future Fund Board.
> COAG Reform Fund means the COAG Reform Fund established by section 5 of the COAG Reform Fund Act 2008.
> debenture has the same meaning as in the Corporations Act 2001.
> derivative means a derivative (within the meaning of Chapter 7 of the Corporations Act 2001) that is a financial asset.
> designated education infrastructure‑related matter has the meaning given by section 143.
> DisabilityCare Australia Fund Special Account means the DisabilityCare Australia Fund Special Account established by section 11 of the DisabilityCare Australia Fund Act 2013.
> Education Department means the Department administered by the Education Minister.
> Education Investment Fund means the Education Investment Fund established by section 131.
> Education Investment Fund investment function of the Future Fund Board means:
(a) a function or power conferred on the Future Fund Board by section 151, 153, 159, 161, 163 or 164; or
(b) a right or power conferred on the Future Fund Board in its capacity as the holder of an investment of the Education Investment Fund.
> Education Investment Fund Investment Mandate has the meaning given by subsection 154(4).
> Education Investment Fund Special Account means the Education Investment Fund Special Account established by section 132.
> Education Minister means the Minister who administers Part 2‑2 of the Higher Education Support Act 2003.
> Note: Part 2‑2 of the Higher Education Support Act 2003 deals with the Commonwealth Grant Scheme.
> EIF Advisory Board means the Education Investment Fund Advisory Board established under section 170.
> EIF designated Ministers means:
(a) the Education Minister; and
(b) the Research Minister.
> EIF Education Portfolio Special Account means the EIF Education Portfolio Special Account established by section 181.
> EIF evaluation criteria means evaluation criteria under section 172.
> EIF Research Portfolio Special Account means the EIF Research Portfolio Special Account established by section 188.
> Finance Department means the Department administered by the Finance Minister.
> Finance Minister has the same meaning as in the Public Governance, Performance and Accountability Act 2013.
> financial asset has the meaning given by section 5.
> Future Fund Board means the Future Fund Board of Guardians.
> Future Fund Board member means a member of the Future Fund Board, and includes the Chair.
> Future Fund Special Account means the Future Fund Special Account established by section 12 of the Future Fund Act 2006.
> GFS Australia means the publication of the Australian Bureau of Statistics known as Australian System of Government Finance Statistics: Concepts, Sources and Methods, as updated from time to time. This updating takes 2 forms, as follows:
(a) from time to time, a new version of the publication is produced;
(b) from time to time, material in the current version of the publication is updated by other publications of the Australian Bureau of Statistics.
> GFS system has the same meaning as in GFS Australia.
> higher education institution means an institution specified in a legislative instrument made by the EIF designated Ministers for the purposes of this definition.
> investment means any mode of application of money or financial assets for the purpose of gaining a return (whether by way of income, capital gain or any other form of return).
> investment manager means a person or body (other than the Agency) who undertakes to do any or all of the following:
(a) invest amounts on behalf of the Future Fund Board;
(b) manage the investment of funds on behalf of the Future Fund Board;
(c) acquire derivatives on behalf of the Future Fund Board;
(d) manage derivatives on behalf of the Future Fund Board;
(e) enter into securities lending arrangements on behalf of the Future Fund Board;
(f) realise financial assets on behalf of the Future Fund Board;
(g) perform custodial functions in relation to the financial assets of the Future Fund Board.
> investment of the Education Investment Fund means a financial asset that, under a provision of this Act, is taken to be an investment of the Education Investment Fund.
> modifications includes additions, omissions and substitutions.
> payment in relation to the creation or development of eligible education infrastructure has the meaning given by section 142.
> payment in relation to the creation or development of higher education infrastructure has the meaning given by section 139.
> payment in relation to the creation or development of research infrastructure has the meaning given by section 140.
> payment in relation to the creation or development of vocational education and training infrastructure has the meaning given by section 141.
> person (except in Division 2 of Part 3.4) includes a partnership.
> Note: See also subsection 2C(1) of the Acts Interpretation Act 1901.
> realise includes redeem or dispose of.
> Research Department means the Department administered by the Research Minister.
> research institution means an institution specified in a legislative instrument made by the EIF designated Ministers for the purposes of this definition.
> Research Minister means the Minister who administers the Australian Research Council Act 2001.
> responsible Ministers means:
(a) the Treasurer; and
(b) the Finance Minister.
> securities lending arrangement means an agreement of the kind known as a securities lending arrangement.
> transitional HEEF payment has the meaning given by section 144.
> Treasury Department means the Department administered by the Treasurer.
> value of an investment of the Education Investment Fund means the market value of the investment. For this purpose, disregard anything that would prevent or restrict conversion of a financial asset to money.
> vocational education and training provider means a person or body specified in a legislative instrument made by the EIF designated Ministers for the purposes of this definition.