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Investment Funds Legislation Amendment Bill 2021

2019-2020-2021

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

Investment Funds Legislation Amendment Bill 2021

 

No.      , 2021

 

(Finance)

 

 

 

A Bill for an Act to amend legislation relating to the Future Fund, the Medical Research Future Fund and the Emergency Response Fund, and for other purposes

   

   



Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 1

3............ Schedules............................................................................................ 2

Schedule 1—Staff of the Future Fund Management Agency                     3

Part 1—Amendments                                                                                                     3

Division 1—Main amendments                                                                                 3

Future Fund Act 2006                                                                                                 3

Division 2—Consequential amendments                                                                 8

Aboriginal and Torres Strait Islander Land and Sea Future Fund Act 2018 8

DisabilityCare Australia Fund Act 2013                                                                 9

Emergency Response Fund Act 2019                                                                        9

Future Drought Fund Act 2019                                                                                 9

Medical Research Future Fund Act 2015                                                                9

Part 2—Transitional                                                                                                      11

Schedule 2—Freedom of information                                                                      17

Freedom of Information Act 1982                                                                           17

Schedule 3—Medical Research Future Fund                                                      18

Part 1—Amendments                                                                                                   18

Medical Research Future Fund Act 2015                                                              18

Part 2—Application and transitional                                                                    23

Schedule 4—Emergency Response Fund                                                               27

Part 1—Amendments                                                                                                   27

Emergency Response Fund Act 2019                                                                      27

Part 2—Application                                                                                                      34

 

 



A Bill for an Act to amend legislation relating to the Future Fund, the Medical Research Future Fund and the Emergency Response Fund, and for other purposes

The Parliament of Australia enacts:

1   Short title

                   This Act is the Investment Funds Legislation Amendment Act 2021 .

2   Commencement

             (1)  Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  Sections 1 to 3 and anything in this Act not elsewhere covered by this table

The day this Act receives the Royal Assent.

 

2.  Schedule 1

A single day to be fixed by Proclamation.

However, if the provisions do not commence within the period of 6 months beginning on the day this Act receives the Royal Assent, they commence on the day after the end of that period.

 

3.  Schedules 2, 3 and 4

The day after this Act receives the Royal Assent.

 

Note:          This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

             (2)  Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3   Schedules

                   Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.