[Index] [Search] [Download] [Bill] [Help]
2008 THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA HOUSE OF REPRESENTATIVES COAG REFORM FUND BILL 2008 SUPPLEMENTARY EXPLANATORY MEMORANDUM Amendment to be moved on behalf of the Government (Circulated by the authority of the Treasurer, the Hon Wayne Swan MP) Table of contents General outline and financial impact 5 Chapter 1 Explanation of the amendment 7 Do not remove section break. Outline of Amendment This government amendment to the COAG Reform Fund Bill 2008 (which was introduced in the House of Representatives on 23 October 2008) is to capture the full scope of the purposes of the Nation-building Funds Bill 2008 (introduced in the House of Representatives on 13 November 2008). Date of effect: The COAG Reform Fund will take effect 1 January 2009. Proposal announced: The COAG Reform Fund was announced in the Commonwealth 2008-09 Budget. Financial impact: This amendment has no financial impact. Compliance cost impact: Nil. Do not remove section break. Outline of amendment 1. This government amendment to the COAG Reform Fund Bill 2008 (the Bill) (which was introduced in the House of Representatives on 23 October 2008) is to capture the full scope of the purposes of the Nation-building Funds Bill 2008 (introduced in the House of Representatives on 13 November 2008). Context of amendment 2. The Nation-building Fund Bill establishes several special account portfolios and provides that funds from those accounts may be disbursed through the COAG Reform Fund. 3. Amendment to the Bill is required to ensure that references to sections of the Nation-building Fund Bill are accurate and capture all special account portfolios established under the Nation- building Fund Bill. Detailed explanation of amendment 4. The amendment states: Clause 7, page 4 (lines 12 to 15), omit subparagraphs (1)(b)(i) to (iv), substitute: (i) subsection 92(2); (ii) subsection 97(2); (iii) subsection 102(2); (iv) subsection 107(2); (v) subsection 197(2); (vi) subsection 265(2). Do not remove section break.Index] [Search] [Download] [Bill] [Help]