Document ID: chunk:federal_register_of_legislation:C2016C00418:clause:5_98
Version: federal_register_of_legislation:C2016C00418
Segment Type: clause
Provision Reference: sch 5 cl 98
Character Range: 125419–126324

98  Transitional—transferring balance of the old account
(1) The Commonwealth must pay to the Authority, for the purposes of the Murray‑Darling Basin Special Account, an amount equal to the balance of the old special account immediately before the commencement of this item.
Note: The Authority must credit this amount to the new Murray‑Darling Basin Special Account mentioned in section 209 of the Water Act 2007 (as amended by this Schedule): see paragraph 210(1)(a) of that Act.
(2) For the purposes of subitem (1), the old special account is the Murray‑Darling Basin Special Account in existence under section 209 of the Water Act 2007 before the commencement of this item.
(3) An amount payable under subitem (1) is to be paid out of the Consolidated Revenue Fund, which is appropriated accordingly.

Part 5—Transitional provisions for bodies continuing as bodies corporate

Division 1—Introduction