Investment Fund Legislation
|
Fund |
Legislation |
|---|---|
|
Future Fund |
|
|
Medical Research Future Fund |
|
|
DisabilityCare Australia Fund |
|
| Future Drought Fund
|
|
| Emergency Response Fund | Emergency Response Fund Act 2019 |
|
Aboriginal and Torres Strait Islander Land and Sea Future Fund |
Aboriginal and Torres Strait Islander Land and Sea Future Fund Act 2018 |
Responsible Ministers
The Future Fund Act designates the Minster for Finance and the Treasurer as the “responsible Ministers”.The responsible Ministers have the joint power to:
- credit cash amounts to the Future Fund through a Special Account and to transfer financial assets to the Fund;
- appoint and remove members from the Future Fund Board;
- issue the Future Fund Investment Mandate.
The Future Fund Act further requires that one of the responsible ministers be appointed as the “nominated minister”. The purpose of assigning a nominated minister is to streamline and simplify processes relating to some of the responsible ministers’ duties.
The Future Fund (Nominated Minister) Determination 2006 appoints the Minister for Finance as the nominated minister.