Australian Capital Territory Numbered Acts

HOUSING ASSISTANCE (AMENDMENT) ACT 1992 (NO. 77 OF 1992) - SECT 9

9. (1) In this section—“Audit Act” means the Audit Act 1989; “Housing Assistance Fund” means the Trust Account known as the Australian Capital Territory Housing Assistance Fund (as affected by section 15 of the A.C.T. Self-Government (Consequential Provisions) Act 1988 of the Commonwealth); “Treasurer” means the Minister administering section 85 of the Audit Act and includes a Minister for the time being acting on behalf of that Minister.

(2) After the close of business on a day (in this section called “the closing day”) being a day as soon as practicable after the day on which this section commences, the amount standing to the credit of the Housing Assistance Fund shall be paid into the Consolidated Revenue Fund.

(3) On the making of the payment referred to in subsection (2)—

        (a)     all the liabilities of the Housing Assistance Fund shall, for the purposes of subsection 85 (4) of the Audit Act, be taken to have been met; and

        (b)     the Treasurer shall, as soon as practicable and in any event on the closing day, give a direction under that subsection to close the Housing Assistance Fund.

(4) Section 7 commences on the day immediately following the closing day.

(5) On the day that section 7 commences—

        (a)     an amount equal to the amount that stood to the credit of the ledger account known as the Home Purchase Assistance Account in the Housing Assistance Fund immediately before the payment referred to in subsection (2) shall be appropriated from the Consolidated Revenue Fund and paid into the Home Purchase Assistance Account established in accordance with subsection 18 (2) of the Principal Act as amended by this Act; and

        (b)     an amount equal to the amount by which the amount paid under subsection (2) exceeds the amount appropriated under paragraph (a) shall be appropriated from the Consolidated Revenue Fund and paid into the Housing Rental Trust Account established in accordance with subsection 18 (2) of the Principal Act.

(6) As soon as practicable after the closing day, the Minister shall publish a notice in the Gazette specifying the dates on which—

        (a)     the payment referred to in subsection (2) was made; and

        (b)     section 7 came into operation in accordance with subsection (4).

(7) The Treasurer—

        (a)     for the purposes of paragraph (3) (b), may execute an instrument being a direction under subsection 85 (4) of the Audit Act that is expressed to take effect when all the liabilities of the Housing Assistance Fund are taken to have been met in accordance with paragraph (3) (a); and

        (b)     for the purposes of subsection 18 (2) of the Principal Act as amended by this Act, may execute an instrument under subsection 85 (2) of the Audit Act that is expressed to take effect on the day on which section 18 of the Principal Act as amended by this Act commences;

and the instrument shall take effect in accordance with its terms.

(8) For the purpose of executing the instruments referred to in subsection (7), a delegation to a person of the Treasurer's powers under—

        (a)     subsection 85 (4) of the Audit Act shall be taken to include a delegation of the Treasurer's powers under paragraph (7) (a); and

        (b)     subsection 85 (2) of the Audit Act shall be taken to include a delegation of the Treasurer's powers under paragraph (7) (b).