Document ID: chunk:federal_register_of_legislation:C2024C00295:section:31
Version: federal_register_of_legislation:C2024C00295
Segment Type: section
Provision Reference: s 31
Character Range: 41551–43344

31  Excess balance of the Disaster Ready Fund Payments Special Account must be transferred to the Disaster Ready Fund Special Account

Half‑yearly assessment
 (1) At a time during the first 15 days of each half‑year, the Emergency Management Minister must make an assessment of:
 (a) whether the balance of the Disaster Ready Fund Payments Special Account exceeds what is sufficient to:
 (i) pay amounts that will become payable by the Commonwealth under section 20 arrangements during the 12‑month period that began at the start of the half‑year; and
 (ii) make section 20 grants (other than grants to a State or Territory) during the 12‑month period that began at the start of the half‑year; and
 (b) if so, the amount of the excess.

Transfer
 (2) If the Emergency Management Minister makes an assessment of the amount of the excess, the Emergency Management Minister must:
 (a) in writing, direct that a specified amount (which must equal the assessed amount of the excess) is to be:
 (i) debited from the Disaster Ready Fund Payments Special Account; and
 (ii) credited to the Disaster Ready Fund Special Account;
  as soon as practicable after the direction is given; and
 (b) do so as soon as practicable after the assessment is made.
 (3) A direction under subsection (2) is a notifiable instrument.
 (4) If the Emergency Management Minister personally gives a direction under subsection (2), the Emergency Management Minister must give a copy of the direction to the Treasurer and the Finance Minister.
 (5) If a delegate of the Emergency Management Minister gives a direction under subsection (2), the delegate must give a copy of the direction to the Treasury Department and the Finance Department.

Division 4—Channelling State/Territory grants through the Federation Reform Fund