4Definitions

#### 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.