Issued by the authority of the Minister for Finance and Deregulation
The instrument to which this explanatory statement relates
| Determination to Reduce Appropriations Upon Request (No. 12 of 2008-2009) |
Date instrument was made
| 30 January 2009 |
The legislative authority under which the instrument is made
| Subsection 13(2) of annual Appropriation Act (No. 2) 2008-2009 enables the Minister for Finance and Deregulation (Finance Minister) to make a determination reducing an administered assets and liabilities item or an other departmental item.
Under subsection 13(1) such a determination must be in accordance with a written request made to the Finance Minister by the responsible Minister for the Agency, or if the Finance Minister is responsible for the Agency, the Chief Executive of the Agency.
A determination made under subsection 13(2) is a Legislative Instrument and is disallowable. |
Purpose and effect of the instrument
| The Instrument determines that the other departmental item (Equity Injections) for ComSuper in Appropriation Act (No. 2) 2008-2009 be reduced by $3,907,628. The effect of this Instrument is to reduce the other departmental item (Equity Injections) for ComSuper in Schedule 2 of Appropriation Act (No. 2) 2008-2009 by the amount of $3,907,628. |
Background | The Commissioner for Superannuation wrote to the Finance Minister on 12 December 2008 requesting a determination to reduce ComSuper’s other departmental item (Equity Injections) under Appropriation Act (No. 2) 2008-2009. The request was made because of a Government decision to not proceed with the 2007-08 Budget measure: Australian Government Superannuation – strengthening information technology capacity. |
Notes on the Instrument | Schedule 1 to the Instrument contains the Determination which provides that the agency in column 1, has the appropriation item in column 2, under the legislative authority in column 3, through the request by the agency Chief Executive in column 4, reduced by the amount in column 5. In accordance with the Legislative Instruments Act 2003, ComSuper was consulted in the preparation of this Instrument. |