Financial Management and Accountability (Comcover Special Account) Amendment Determination 2000/14

I, JOHN JOSEPH FAHEY, Minister for Finance and Administration, make this Determination under section 20 of the Financial Management and Accountability Act 1997.

Dated 5 December 2000

Signed John Fahey

Minister for Finance and Administration

1                    Name of Determination

This Determination is the Financial Management and Accountability (Comcover Special Account) Amendment Determination 2000/14.

Note:  This Determination commences in accordance with section 22 of the Financial Management and Accountability Act 1997.

2                    Amendment of Comcover Account Determination (Act s 20)

The Schedule amends the Determination dated 7 April 1998 which established the Comcover Account.

Note:  The Determination of 7 April 1998 established the Comcover Reserve as a component of the Reserved Money Fund. Section 5 of the Financial Management Legislation Amendment Act 1999 converted such Reserves to Special Accounts and altered their names. The Determination of 7 April 1998 was amended by a Determination of 4 February 2000.

Schedule   Amendments

(section 2)

[1]               Heading 'DETERMINATION TO ESTABLISH COMPONENT OF THE RESERVED MONEY FUND'

omit

COMPONENT OF THE RESERVED MONEY FUND

insert

A SPECIAL ACCOUNT

[2]               First paragraph

omit

Reserve

insert

Account

[3]               First paragraph

omit

component of the Reserved Money Fund

insert

Special Account
 

[4]               First paragraph, after

insert

This Determination is the Financial Management and Accountability (Comcover Special Account) Determination 1998.

[5]               Paragraph (a)

omit

transferred from the Consolidated Revenue Fund to this account

insert

credited to the Account

[6]               Paragraph (a), first dot point

omit

payment into the account

insert

being credited to the Account

[7]               Paragraph (a), second dot point

omit

account

insert

Account

[8]               Paragraph (a), third dot point

omit

account; and

insert

Account;

[9]               Paragraph (a), after third dot point

insert

• upon the realisation of an investment of an amount debited from the Account, the amount so debited; and

• interest earned on the investment of an amount debited from the Account.

[10]          Paragraph (b)

omit

for which amounts may be debited to the component

insert

of the Account