Document ID: chunk:federal_register_of_legislation:C2006A00030:clause:1_192w
Version: federal_register_of_legislation:C2006A00030
Segment Type: clause
Provision Reference: sch 1 cl 192W
Character Range: 4892–5713

192W  Aboriginal and Torres Strait Islander Land Account

Land Account

 (1) There is continued in existence the Aboriginal and Torres Strait Islander Land Account.

Note: The Account was established by subsection 5(3) of the Financial Management Legislation Amendment Act 1999.

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

 (3) So far as practicable, an amount standing to the credit of the Land Account that is not required for the purpose of making payments must be invested under section 39 of the Financial Management and Accountability Act 1997.

 (4) If income is received by the Commonwealth from the investment of an amount standing to the credit of the Land Account, an amount equal to the income must be credited to the Land Account.