Financial Management and Accountability Determination 2005/29 - Australia-France Endowment Account Variation and Abolition 2005 (Cth)

Financial Management and Accountability Determination 2005/29 — Australia-France Endowment Account Variation and Abolition 2005

I, NICK MINCHIN, Minister for Finance and Administration, make this Determination under subsections 20 (2) and (3) of the Financial Management and Accountability Act 1997.

Dated 14 September 2005

NICK MINCHIN

Minister for Finance and Administration

1              Name of Determination

This Determination is the Financial Management and Accountability Determination 2005/29 — Australia-France Endowment Account Variation and Abolition 2005.

2              Commencement

This Determination commences at the time at which subsection 22 (4) of the Financial Management and Accountability Act 1997 is complied with.

Note   This Determination takes effect in accordance with section 22 of the Financial Management and Accountability Act 1997. The Parliament must consider the Determination before it can take effect, and either House may pass a resolution disallowing the Determination. If neither House passes such a resolution, the Determination takes effect on the day immediately after the last day upon which such a resolution could have been passed.

3              Variation of Determination to Establish Components of the Reserved Money Fund

Schedule 1 varies the Initial Determination to Establish Components of the Reserved Money Fund that included the establishment of the Australia-France Endowment Account.

4              Abolition of Australia-France Endowment Account

The Australia-France Endowment Account is abolished with effect from the time at which:

(a)                Schedule 1 has taken effect; and

(b)    the balance of the appropriation for the Australia-France Endowment Account reaches zero.

Schedule 1        Variation

(section 3)

[1]           Determination, attachment, Department of Foreign Affairs and Trade, item for Australia-France Foundation Reserve, second column

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For expenditure:

(i)to provide a long-term means of strengthening the cultural, academic, scientific and technological links between France and Australia; and

(ii)to improve knowledge and understanding of Australia in France by enabling person to person contact and interchange in a wide range of fields.

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For expenditure:

(i)to provide a long-term means of strengthening the cultural, academic, scientific and technological links between France and Australia; and

(ii)to improve knowledge and understanding of Australia in France by enabling person to person contact and interchange in a wide range of fields.

(iii)to credit amounts to the Australia-France Endowment Special Account.