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Parliamentary Joint Committee on the Australia Fund Bill 2014

Part 1 Preliminary

   

1   Short title

                   This Act may be cited as the Parliamentary Joint Committee on the Australia Fund Act 2014 .

2   Commencement

                   This Act commences on the day after this Act receives the Royal Assent.

3   Simplified outline of this Act

This Act establishes the Parliamentary Joint Committee on the Australia Fund. The Committee is to investigate whether a body, to be known as the Australia Fund, should be established, and the appropriateness of existing bankruptcy and insolvency laws for businesses in times of crisis.

4   Definitions

                   In this Act:

                   commencement means the day that this Act commences.

                   Committee means the Parliamentary Joint Committee on the Australia Fund for the time being constituted under this Act.

                   member means a member of the Committee, and includes the Chair.

times of crisis include times when there is a natural disaster (such as a drought, flood or bushfire) or a global financial downturn.