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National Film and Sound Archive Bill 2008

Part 6 Finance

   

37   Money payable to the National Film and Sound Archive

             (1)  There is payable to the National Film and Sound Archive such money as is appropriated by the Parliament for the purposes of the National Film and Sound Archive.

             (2)  The Finance Minister may give directions about the amounts in which, and the times at which, money payable under subsection (1) is to be paid to the National Film and Sound Archive.

             (3)  If a direction under subsection (2) is given in writing, the direction is not a legislative instrument.

             (4)  In this section:

Finance Minister means the Minister administering the Financial Management and Accountability Act 1997 .

38   Application of money by the National Film and Sound Archive

             (1)  The money of the National Film and Sound Archive is to be applied only:

                     (a)  in payment or discharge of the costs, expenses and other obligations incurred or undertaken by the National Film and Sound Archive in the performance of its functions and the exercise of its powers; and

                     (b)  in payment of any remuneration or allowances payable under this Act.

             (2)  Subsection (1) does not prevent investment of surplus money of the National Film and Sound Archive under section 18 of the Commonwealth Authorities and Companies Act 1997 .

39   Restrictions on financial transactions

             (1)  The National Film and Sound Archive must not, without the approval of the Minister:

                     (a)  acquire any property, right or privilege for a consideration exceeding in amount or value the amount prescribed by the regulations for the purposes of this paragraph; or

                     (b)  dispose of any property, right or privilege if the amount or value of the consideration for the disposal, or the value of the property, right or privilege, exceeds the amount prescribed by the regulations for the purposes of this paragraph; or

                     (c)  enter into a contract for the construction of a building for the National Film and Sound Archive, being a contract under which the National Film and Sound Archive is to pay an amount exceeding the amount prescribed by the regulations for the purposes of this paragraph; or

                     (d)  enter into a lease of land for a period exceeding 10 years.

             (2)  Paragraphs (1)(a) and (b) do not apply to the investment of money by the National Film and Sound Archive under section 18 of the Commonwealth Authorities and Companies Act 1997 .

             (3)  If an approval under subsection (1) is in writing, the approval is not a legislative instrument.

40   Taxation

             (1)  The National Film and Sound Archive is not subject to taxation under any law of the Commonwealth or of a State or Territory.

Note:          Despite this subsection, the National Film and Sound Archive may be subject to taxation under certain laws (see, for example, section 177-5 of the A New Tax System (Goods and Services Tax) Act 1999 and section 66 of the Fringe Benefits Tax Assessment Act 1986 ).

             (2)  The regulations may provide that subsection (1) does not apply in relation to taxation under a specified law.