Financial Management and Accountability (Establishment of Special Account) Determination 2002/06 (Cth)

Financial Management and Accountability (Amendment of Establishment of Special Account) Determination 2002/06

The Minister for Employment and Workplace Relations declared on 10 April 2002, pursuant to section 100 of the Seafarers Rehabilitation and Compensation Act 1992 ('the Seafarers Act'), that the Seafarers Safety, Rehabilitation and Compensation Authority ('the Authority') is to have the functions, powers and obligations of the Fund, under the Seafarers Act;

I, NICK HUGH MINCHIN, Minister for Finance and Administration, make this Determination under subsection 20 (1) of the Financial Management and Accountability Act 1997.

Dated 9 August 2002

Nick Minchin

Minister for Finance and Administration

1. Name of Determination

This Determination is the Financial Management and Accountability (Establishment of Special Account) Determination 2002/06.

1. Commencement

This Determination commences in accordance with section 22 of the Financial Management and Accountability Act 1997 ('the FMA Act').

1. Establishment of Special Account

A Special Account is established under section 20(1) of the FMA Act to be called the 'Seafarers Rehabilitation and Compensation Account' ('the Account').

(2)     The following amounts may be credited to the Account:

(a)        amounts collected under the Seafarers Rehabilitation and Compensation Levy Collection Act 1992 ('the Levy Collection Act');

(b)        amounts paid to the Commonwealth by any person, or transferred within the Consolidated Revenue Fund, for any of the purposes of the Account other than a departmental or administered purpose referred to in clause 3(e); and

(c)        amounts appropriated for the purposes of the Account.

(3)     The Account has the following purposes for or in relation to which amounts may be expended or transferred within the Consolidated Revenue Fund:

(a)the payment of claims, or other amounts payable by the Authority under or by virtue of the Seafarers Act ,being amounts payable because of the declaration of the Authority as the Fund;

(b)the payment of expenditure incurred in, or attributable to, the administration of the Fund;

(c)payment to persons from whom the levy was collected under the Levy Collection Act;

(d)the payment of any premium for a policy of insurance or indemnity for any amount of the Authority's liability under the Seafarers Act;

(e)any departmental purpose or administered purpose of the Department administering the Seafarers Act, but only up to an amount which had previously been expended by the Department for other purposes of the Account; and

(f)payment to any trading corporation which may be approved under s.96 of the Seafarers Act to be the Fund for the purposes of that Act, of an amount not exceeding the amount of levy collected under the Levy Act, less the any payments made from the Account.