Western Australian Current Acts

WESTERN AUSTRALIAN FUTURE HEALTH RESEARCH AND INNOVATION FUND ACT 2012 - SECT 5

5 .         Establishment of Western Australian Future Health Research and Innovation Fund

        (1)         The Western Australian Future Fund that was established under this section on 30 November 2012 is discontinued.

        (1A)         The Western Australian Future Health Research and Innovation Fund is established for the purpose of funding the FHRI Account under section 9(1).

        (2)         The FHRI Fund is taken to have been determined by the Treasurer to be a Treasurer’s special purpose account under the Financial Management Act 2006 section 10(e).

        (3)         The FHRI Fund is to be administered by the Treasurer.

        (3A)         Money standing to the credit of the Western Australian Future Fund immediately before amendment day stands to the credit of the FHRI Fund.

        (4)         Money standing to the credit of the FHRI Fund is to be held in the Public Bank Account, subject to any investment of that money under the Financial Management Act 2006 section 37(1).

        (5)         Despite subsection (4), money standing to the credit of the FHRI Fund may be invested in gold.

        [Section 5 amended: No. 22 of 2020 s. 11.]

[ 6.         Deleted: No. 22 of 2020 s. 12.]