Document ID: chunk:federal_register_of_legislation:C2018A00139:clause:1_47d
Version: federal_register_of_legislation:C2018A00139
Segment Type: clause
Provision Reference: sch 1 cl 47D
Character Range: 4806–5489

47D  Cap on the Account and transfers to general CRF
 (1) If, at a particular time, the balance of the Account exceeds $1 billion, an amount equal to the excess is debited from the Account immediately after that time.
 (2) The Minister may, by writing, direct that a specified amount is to be debited from the Account on a specified day (which must be on or after the day the direction is made).
 (3) The Minister must consult the Board before making a direction under subsection (2).
 (4) A direction under subsection (2) is not a legislative instrument.
 (5) The Minister must give a copy of a direction under subsection (2) to the Finance Minister.

Division 2—The NHFIC's money