109Appropriation Acts may specify debit limits

109 Appropriation Acts may specify debit limits

(1) If an Appropriation Act relating to a financial year declares that a specified amount is the debit limit for the financial year for the purposes of this section, the total of the following amounts debited during the financial year must not exceed that limit: (a) an amount debited from the Building Australia Fund Special Account for a purpose mentioned in paragraph 18(1)(a), (b), (d) or (e); (b) an amount debited from the BAF Infrastructure Portfolio Special Account (other than a debit under section 91); (c) an amount debited from the BAF Communications Portfolio Special Account for the purpose of making a payment in relation to the creation or development of communications infrastructure, other than: (i) an amount debited for the purpose of making a payment in relation to an eligible national broadband network matter; or (ii) an amount debited under section 96; (d) an amount debited from the BAF Energy Portfolio Special Account (other than a debit under section 101); (e) an amount debited from the BAF Water Portfolio Special Account (other than a debit under section 106); (f) an amount debited from the COAG Reform Fund in accordance with subsection 92(2), 97(2), 102(2) or 107(2). (2) If, for a financial year, there is no Appropriation Act relating to the financial year that specifies a debit limit for the financial year for the purposes of this section, an amount referred to in subsection (1) must not be debited from a Special Account or Fund. (3) This section applies despite any provision of this Act or the Public Governance, Performance and Accountability Act 2013.

259 Subsection 112(2)

Repeal the subsection, substitute:

Macroeconomic circumstances (2) In making the decision, the Finance Minister must have regard to the principle that the total of the amounts referred to in subsection 109(1) debited during the financial year should depend primarily on the macroeconomic circumstances.

260 Subsection 121(3)

Omit “Section 39 of the Financial Management and Accountability Act 1997”, substitute “Section 58 of the Public Governance, Performance and Accountability Act 2013 (which deals with investment by the Commonwealth)”.

261 Subsection 132(2)

Omit “Special Account for the purposes of the Financial Management and Accountability Act 1997”, substitute “special account for the purposes of the Public Governance, Performance and Accountability Act 2013”.

262 Subsection 132(2) (note)

Omit “Special Account” (wherever occurring), substitute “special account”.

263 Subsection 136(1) (note)

Repeal the note, substitute:

Note: See section 80 of the Public Governance, Performance and Accountability Act 2013 (which deals with special accounts).