Document ID: chunk:federal_register_of_legislation:C2025C00028:section:42
Version: federal_register_of_legislation:C2025C00028
Segment Type: section
Provision Reference: s 42
Character Range: 26589–27558

42  Minimum balance in the Account after 30 June 2001
 (1) This section applies to a financial year that begins on or after 1 July 2001.
 (2) The Minister must take all reasonable steps to ensure that, throughout each financial year, the balance of the Account does not fall below the base amount for that year (worked out under subsection (3) or (4)).
 (3) The base amount for the financial year that begins on 1 July 2001 is $300 million.
 (4) This is how to work out the base amount for a subsequent financial year:
 (a) multiply $300 million by the indexation factor for that year;
 (b) if the result of that multiplication is not an amount of whole dollars—round up the result to the nearest whole dollar.
 (5) For the purposes of this section, the indexation factor for a financial year is the factor (being a number not less than 1) specified in relation to that year in a written determination made by the Finance Minister for the purposes of this subsection.