Financial Framework Legislation Amendment Act 2010 (148 of 2010)

Schedule 2   Amendment of the Australian Law Reform Commission Act 1996

Part 1   Amendments

49   Part 5

Repeal the Part, substitute:

Part 5 - Finance

45 Law Reform Special Account

(1) The Law Reform Special Account is established by this section.

(2) The Law Reform Special Account is a Special Account for the purposes of the Financial Management and Accountability Act 1997.

(3) The following amounts must be credited to the Law Reform Special Account:

(a) amounts appropriated by the Parliament for the purposes of the Account;

(b) amounts received by the Commission in relation to performing any of its functions, or exercising any of its powers, under this Act;

(c) amounts of any gifts given, or bequests made, for the purposes of the Account.

Note: An Appropriation Act provides for amounts to be credited to a Special Account if any of the purposes of the Account is a purpose that is covered by an item in the Appropriation Act.

(4) The Law Reform Special Account may be debited for the following purposes:

(a) to pay the costs, expenses and other obligations incurred by the Commonwealth in the performance of the Commission's functions;

(b) to pay any remuneration and allowances payable to a person under this Act;

(c) to pay the expenses of administering the Account;

(d) to pay any amount that is required or permitted to be repaid;

(e) to reduce the balance of the Account (and, therefore, the available appropriation for the Account) without making a real or notional payment.

Note: See section 21 of the Financial Management and Accountability Act 1997 (debits from Special Accounts).