(1)

The Finance Minister may, upon written request by a Minister, make a written determination under this section reducing an administered assets and liabilities item or an other departmental item for an entity for which the Minister is responsible by the amount specified in the determination.

(2)

The Finance Minister may, upon written request by the Chief Executive of an entity for which the Finance Minister is responsible, make a written determination under this section reducing an administered assets and liabilities item or an other departmental item for that entity by the amount specified in the determination.

(3)

Where a determination is made, the amount specified in the item is taken to have been reduced by the amount specified in the determination.

(4)

However, a determination is of no effect if the determination has not been requested under subsection (1) or (2).

(5)

In addition, a determination reduces an amount specified in the item only to the extent that the amount of the reduction is no greater than the lesser of the following:

(a) the amount requested under subsection (1) or (2);
(b) the difference between the amount specified in the item and the amount issued out of the Consolidated Revenue Fund by the Finance Minister in respect of that item.

(6)

For the purposes of paragraph (5)(b), an amount is not taken to have been issued by the Finance Minister until the amount is paid out of the Consolidated Revenue Fund.

(7)

To avoid doubt, where a previous determination has been made in relation to an item, the reference in paragraph (5)(b) to the amount specified in the item is taken to be a reference to the amount specified in the item as reduced by that previous determination and any other previous determination.

(8)

To avoid doubt, a determination under this section applies despite any other provision of this Act.

(9)

A determination made under subsection (1) or (2) is a legislative instrument and, despite subsection 44(2) of the Legislative Instruments Act 2003 , section 42 of that Act applies to the determination. However, Part 6 of that Act does not apply to the determination.

(10)

A written request made under subsection (1) or (2) is not a legislative instrument.