Appropriation (Health Super-Growth Fund) Act 2003 (NSW)

An Act to appropriate out of the Consolidated Fund the sum of $420,000,000 towards public health capital works and services; and for other purposes.

1Name of Act

This Act is the Appropriation (Health Super-Growth Fund) Act 2003.

2Commencement

This Act commences on the date of assent.

3Definitions

In this Act:

the appropriated sum means the sum appropriated by section 4.

the Fund means the Health Super-Growth Fund established by section 6.

4Appropriation

The sum of $420,000,000 is hereby appropriated from the Consolidated Fund to the Treasurer for or towards the use and purpose of the Crown Finance Entity and is to be applied in accordance with the provisions of this Act.

5Investment of appropriated sum

The appropriated sum is, immediately after its appropriation, to be invested with the New South Wales Treasury Corporation.

6Health Super-Growth Fund

There is established in the Special Deposits Account the Health Super-Growth Fund.

7Payments into and out of the Fund(1)

There is to be paid into the Fund:

• (a)

  the income from the investment, under section 5, of the appropriated sum which income may be applied only for or towards public health capital works and services, and

• (b)

  all other money required or authorised by or under any other Act to be paid into the Fund.

(2)

There is to be paid out of the Fund:

• (a)

  such amounts as are determined from time to time by the Treasurer for the purpose of public health capital works and services, and

• (b)

  all other payments required or authorised by or under this or any other Act to be paid from the Fund.

(3)

If there is money in the Fund that is not required to be paid for the purpose of public health capital works and services, the Treasurer may authorise the payment of the whole or any part of the money for public health recurrent services.

8Appropriation not to lapse

The appropriation effected by this Act does not lapse at the end of the financial year in which it is made.