Document ID: chunk:federal_register_of_legislation:C2024C00696:section:30
Version: federal_register_of_legislation:C2024C00696
Segment Type: section
Provision Reference: s 30
Character Range: 42800–43889

30  Profits
 (1) Subject to subsection (2), the net profits of the Bank in each year shall be dealt with as follows:
 (aa) such amount as the Treasurer, after consultation with the Reserve Bank Board, determines is to be set aside for contingencies; and
 (a) such amount as the Treasurer, after consultation with the Reserve Bank Board, determines shall be placed to the credit of the Reserve Bank Reserve Fund; and
 (b) the remainder shall be paid to the Commonwealth.
 (2) If the net profit of the Bank for a year is calculated on a basis that requires the inclusion of unrealised gains on assets during the year, the amount to which subsection (1) applies is to be worked out as follows:
 (a) deduct from the net profit an amount equal to the total of all amounts of unrealised gains included in the net profit; and
 (b) if an asset in respect of which unrealised gains were included in the net profit for a previous year or years is realised during the year—add to the amount remaining after applying paragraph (a) the total amount of those unrealised gains.

Part V—The note issue