Public Governance, Performance and Accountability (Consequential and Transitional Provisions) Act 2014 (62 of 2014)

Schedule 9   Amendments of Acts starting with F to L

Federal Financial Relations Act 2009

31   Subsections 16(3) and (4)

Repeal the subsections, substitute:

(3) Despite subsection (2), 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:

(a) the total amount credited to the COAG Reform Fund under paragraph (2)(a) during the financial year; and

(b) the total amount debited from the COAG Reform Fund during the financial year for the purposes of making such grants;

must not exceed that specified amount.

(4) Despite subsection (2), if, for a financial year, no Appropriation Act relating to the financial year declares that a specified amount is the debit limit for the financial year for the purposes of this section:

(a) amounts must not be credited to the COAG Reform Fund under paragraph (2)(a) during the financial year; and

(b) amounts must not be debited from the COAG Reform Fund during the financial year for the purposes of making such grants.