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 |
Date instrument was made | 22 June 2009 |
The legislative authority under which the instrument is made
| Subsection 11(1) of annual Appropriation Act (No. 2) 2004‑2005 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 for an entity.
A determination made under subsection 11(1) must be in accordance with a written request made to the Finance Minister by the responsible Minister for the entity.
A determination made under subsection 11(1) is a Legislative Instrument and is disallowable. |
Purpose and effect of the instrument
| Schedule 1, Item 1 of the Instrument determines that the administered assets and liabilities item for the Department of Innovation, Industry, Science and Research (DIISR) in Appropriation Act (No. 2) 2004-2005 be reduced by $13,992,000.
The effect of this Instrument is to reduce an administered assets and liabilities item for DIISR in Schedule 2 of Appropriation Act (No. 2) 2004-2005 by the amount of $13,992,000. |
Background | The Minister for Innovation, Industry, Science and Research wrote to the Finance Minister on 28 May 2009 requesting a determination to reduce DIISR’s administered assets and liabilities item under Appropriation Act (No. 2) 2004‑2005.
The requested reduction relates to unspent funding provided for the R&D Start Premium/Concessional Loans. |
Notes on the Instrument | Schedule 1 to the Instrument contains the Determination which provides that the entity in column 1, has the appropriation item in column 2, under the legislative authority in column 3, through the request by the responsible Minister in Column 4, reduced, by the amount in column 5.
In accordance with the Legislative Instruments Act 2003, DIISR was consulted in the preparation of this Instrument. |