Document ID: chunk:federal_register_of_legislation:C2024C00557:section:86ah
Version: federal_register_of_legislation:C2024C00557
Segment Type: section
Provision Reference: s 86AH
Character Range: 301759–303094

86AH  Managing surplus money in the Water for the Environment Special Account—transfer to general CRF
 (1) After the end of 31 December 2027, the Minister may, by notifiable instrument, give a direction that a specified amount is to be debited from the Water for the Environment Special Account on a specified day.
 (2) The specified day must not be earlier than the commencement of the direction under subsection (1).
 (3) The Minister must not give a direction under subsection (1) that specifies a day unless:
 (a) the Minister has estimated that the balance of the Water for the Environment Special Account as at the end of that day is likely to include a surplus amount; and
 (b) the amount specified in the direction is equal to, or less than, the surplus amount.
 (4) For the purposes of paragraph (3)(a), an amount is a surplus amount if:
 (a) it is an amount that does not exceed the amount that stood to the credit of the Water for the Environment Special Account as at the end of the specified day; and
 (b) it is an amount that is not required for the purposes of meeting obligations or commitments entered into, or arising, on or before the specified day.
 (5) The Minister may give more than one direction under subsection (1), provided that the requirements of this section are satisfied in relation to each direction.