Document ID: chunk:federal_register_of_legislation:C2004A00102:body:0:p14
Version: federal_register_of_legislation:C2004A00102
Segment Type: other
Provision Reference: 
Character Range: 32391–35144

(1) The Authority is an approved authority for the purposes of the Superannuation Act 1922-1973.

(2) For the purposes of that Act, the Chairman and the Executive Member shall each be taken to be a person who is required to give the whole of his time to the duties of his office.

(3) For the purposes of the application of section 145 of the Superannuation Act 1922-1973, the Chairman and the Executive Member shall be deemed to be employed by the Authority.

Officers' Rights Declaration Act.
30. Where the Chairman, the Executive Member or an officer or employee of the Authority was, immediately before his appointment or engagement, an officer of the Australian Public Service or a person to whom that Officers' Rights Declaration Act 1928-1969 applied—

(a) he retains his existing and accruing rights;

   (b) for the purpose of determining those rights, his service under this Act shall be taken into account as if it were service in the Australian Public Service; and

(c) the Officers' Rights Declaration Act 1928-1969 applies as if this Act and this section had been specified in the Schedule to that Act.

PART V—FINANCE

Financial policy of Authority.
31. In the exercise of its functions, the Authority shall pursue a policy directed towards securing, in each financial year, revenues sufficient—

   (a) to meet the expenditure, and provision for expenditure, of the Authority properly chargeable to revenue of that year, including provision in respect of income tax payable by the Authority in relation to that financial year; and

(b) to permit the payment to Australia of a reasonable return on the capital of the Authority.

Capital of Authority.
32. (1) The Treasurer may make available to the Authority, out of moneys appropriated by the Parliament for the purpose, such amounts as are, in the opinion of the Minister, required by the Authority.

(2) The capital of the Authority consists of the amounts made available by the Treasurer to the Authority under sub-section (1) less any amounts of capital repaid by the Authority to Australia.

(3) Interest is not payable to Australia on the capital of the Authority.

(4) The capital of the Authority is repayable to Australia at such times and in such amounts as the Minister, with the concurrence of the Treasurer, determines.

(5) For the purposes of a determination under sub-section (4), the Minister and the Treasurer shall have regard to any advice that the Authority has furnished to the Minister in relation to its financial affairs.

Borrowing by Authority.
33. (1) The Authority may, with the approval of the Treasurer—

    (a) borrow moneys from an approved bank, the Australian Industrial Development Corporation or another lender for the purpose of the performance of