Queensland Consolidated Acts

MINERAL AND ENERGY RESOURCES (FINANCIAL PROVISIONING) ACT 2018 - SECT 24

24 Establishment of scheme fund

(1) The Financial Provisioning Fund (the
"scheme fund" ) is established.

(2) Accounts for the scheme fund must be kept as part of the departmental accounts of the department.

(3) Amounts received for the scheme fund—

(a) must be deposited in a departmental financial institution account of the department; and

(b) may be deposited in an account used for depositing other amounts of the department.

(4) The chief executive (environment) must pay into the scheme fund an amount recovered under the Environmental Protection Act 1994 in relation to costs and expenses for which the chief executive (environment) receives an amount from the scheme manager under section 65 .

(5) The Treasurer may advance amounts to the scheme fund on the terms the Treasurer considers appropriate.

(6) An advance by the Treasurer under subsection (5) is to be paid by the Treasurer out of the consolidated fund which is appropriated accordingly.

(7) Amounts received for the scheme fund include the following—

(a) contributions to the scheme fund paid under this Act;

(b) fees paid under this Act;

(c) amounts received from the chief executive (environment) under subsection (4) ;

(d) amounts advanced by the Treasurer;

(e) amounts earned as interest on the cash surety account deposited into the scheme fund by the scheme manager;

(f) amounts earned as interest on the scheme fund.

(8) An amount mentioned in subsection (7) is a controlled receipt for the Financial Accountability Act 2009 .

(9) An amount is payable from the scheme fund for—

(a) the purposes of this Act, including, for example, a cost related to the administration of the scheme or staff services under section 23 ; or

(b) the repayment of an amount advanced to the scheme fund by the Treasurer.