Governance

Exposure Draft of the Future Drought Fund Legislation

The Minister for Finance and the Minister for Water Resources, Drought, Rural Finance, Natural Disaster and Emergency Management have released exposure drafts of the Future Drought Fund Bill 2019 and the Future Drought Fund (Consequential Amendments) Bill 2019, as well as the accompanying draft Explanatory Memoranda.

The measure to establish the Future Drought Fund was announced in the 2018-19 Mid-Year Economic and Fiscal Outlook External link icon.

The exposure drafts of the Future Drought Fund Bills and the accompanying draft Explanatory Memoranda are provided below.

Investment Fund Legislation

The relevant legislation and the Administrative Arrangements Order External link icon sets the governance arrangements as summarised in the table below:

 Fund 
Legislation
Responsible Ministers
Portfolio
Governing Body
Agency responsibility
Investments
Financial Reporting

Future Fund

Future Fund Act 2006 External link icon

Finance Minister and Treasurer

Finance

Future Fund Board of Guardians

Future Fund Management Agency

Future Fund Management Agency

Medical Research Future Fund

Medical Research Future Fund Act 2015 External link icon

Department of Finance

DisabilityCare Australia Fund

DisabilityCare Australia Fund Act 2013 External link icon

Nation-building Funds

Nation-building Funds Act 2008 External link icon

Aboriginal and Torres Strait Islander Land and Sea Future Fund

Aboriginal and Torres Strait Islander Land and Sea Future Fund Act 2018 External link icon

Responsible Ministers

The responsible Ministers have the joint power, which may include to: issue an Investment Mandate for each fund, credit amounts to the fund, and arrange for debits through the relevant Special Account.

 

Contact information on this page: Funds and Superannuation Branch

Last updated: 18 July 2019