Document ID: chunk:federal_register_of_legislation:F2023L00669:reg:8
Version: federal_register_of_legislation:F2023L00669
Segment Type: reg
Provision Reference: reg 8
Character Range: 3144–4641

8  Purposes of the special account
  For paragraph 78(1)(c) of the Act, the purposes of the special account, in relation to which amounts may be debited from the special account, are:
(a)    to make investments in relation to:
(i)                  activities to modernise Australia's electricity grids;
(ii)               activities that contribute to energy system security, reliability, and affordability;
(iii)             renewable energy developments and decarbonisation of Australia's electricity grids;
(iv)              large scale storage and associated transmission;

          (b)    to provide underwriting for activities under paragraph (a), provided the value of the underwriting does not exceed the balance of the special account at any time;

(c)    to disburse an amount in connection with joint activities performed for, on behalf of, or together with, a Commonwealth entity, Commonwealth company, government, organisation, body or person in relation to the activities under paragraph (a);
(d)    to disburse an amount in connection with an agreement between the Commonwealth and another person, organisation, body or government in relation to the activities under paragraph (a);
(e)    to repay an amount where a court order, Act or other law requires or permits the repayment of an amount received; and

          (f)   to reduce the balance of the special account (and, therefore, the available appropriation for the special account) without making a real or notional payment.