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COAG Reform Fund Bill 2008

Part 2 COAG Reform Fund

   

5   Establishment of the COAG Reform Fund

             (1)  The COAG Reform Fund is established by this section.

             (2)  The COAG Reform Fund is a Special Account for the purposes of the Financial Management and Accountability Act 1997 .

Note 1:       An Appropriation Act may contain a provision to the effect that, if any of the purposes of a Special Account is a purpose that is covered by an item in the Appropriation Act (whether or not the item expressly refers to the Special Account), then amounts may be debited against the appropriation for that item and credited to that Special Account.

Note 2:       An amount originating in the Building Australia Fund, the Education Investment Fund or the Health and Hospitals Fund may be transferred to the COAG Reform Fund—see the Nation-building Funds Act 2008 .

6   Purpose of the COAG Reform Fund

                   The purpose of the COAG Reform Fund is the making of grants of financial assistance to the States and Territories.

Note:          See section 21 of the Financial Management and Accountability Act 1997 (debits from Special Accounts).