Australian Capital Territory
Appropriation (Loose-fill Asbestos Insulation Eradication) Act 2014-2015
A2014-61
    
Contents
	Page
	1	Name of Act	2
	2	Commencement	2
	3	Purposes of Act	2
	4	Guiding principles	2
	5	Definitions for Act	3
	6	Terms used in Financial Management Act	3
	7	Appropriations of $762 031 000—Loose-fill Asbestos Insulation Eradication Scheme	3
	8	Appropriation units and output classes	4
Schedule 1	Appropriations, appropriation units and output classes	5

Australian Capital Territory
Appropriation (Loose-fill Asbestos Insulation Eradication) Act 2014-2015
A2014-61

An Act to appropriate money for the Loose-fill Asbestos Insulation Eradication Scheme and related purposes for the financial year that began on 1 July 2014

    

The Legislative Assembly for the Australian Capital Territory enacts as follows:

1	Name of Act
This Act is the Appropriation (Loose-fill Asbestos Insulation Eradication) Act 2014-2015.
2	Commencement
This Act commences, or is taken to have commenced, on 1 July 2014.
3	Purposes of Act
This Act is made for the purposes of—
	(a)	the Self-Government Act, section 57 and section 58; and
	(b)	the Financial Management Act, section 6 and section 8.
4	Guiding principles
The guiding principles of the appropriation are to—
	(a)	eliminate, by demolishing all known affected houses, the ongoing risk of exposure to loose-fill asbestos insulation for home owners, tenants, tradespeople and the wider community; and
	(b)	provide, so far as is possible and reasonable, a fair outcome for owners of affected homes, including the ability for affected home owners to retain ownership of their land; and
	(c)	provide, so far as is possible and reasonable, flexibility and options for informed choices to be made by owners of affected homes; and
	(d)	minimise overall net costs to the Canberra community and the ACT Government (thereby minimising the flow-on impact to other government policy and program delivery areas).
5	Definitions for Act
In this Act:
agency means a directorate, territory authority or territory-owned corporation.
Financial Management Act means the Financial Management Act 1996.
financial year means the year that began on 1 July 2014.
6	Terms used in Financial Management Act
A term used in the Financial Management Act has the same meaning in this Act.
7	Appropriations of $762 031 000—Loose-fill Asbestos Insulation Eradication Scheme
If an agency is mentioned in a part of schedule 1, column 1—
	(a)	the amount mentioned in that part, column 4 is appropriated to the agency for the additional net cost of providing outputs in the financial year for the appropriation unit mentioned in that part, column 2 (the relevant appropriation unit); and
	(b)	the amount mentioned in that part, column 5 is appropriated to the agency for additional capital injection in the financial year for the relevant appropriation unit; and
	(c)	the amount mentioned in that part, column 6 is appropriated to the agency for additional payments to be made on behalf of the Territory in the financial year for the relevant appropriation unit.
8	Appropriation units and output classes
	(1)	A group of outputs mentioned in schedule 1, column 3 is identified as a class of outputs for the Financial Management Act.
	(2)	An appropriation unit mentioned in schedule 1, column 2 consists of the class of output mentioned in column 3 for the appropriation unit.

Schedule 1	Appropriations, appropriation units and output classes
(see s 7 and s 8)

column 1
agency	column 2
appropriation unit	column 3
class of output
	column 4
net cost of outputs
	column 5
capital injection
	column 6
payments on behalf of Territory	column 7
total
	
			$	$	$	$	
Part 1.1
Chief Minister, Treasury and Economic Development Directorate	
Chief Minister, Treasury and Economic Development Directorate	
1	Loose-fill Asbestos Insulation Eradication
	
337 777 000	
412 223 000		
750 000 000 	
Part 1.2
Territory Banking Account
	
Territory Banking Account	
1	Territory Banking Account			
12 031 000	
12 031 000	
Total appropriated to agencies			
337 777 000	
412 223 000	
12 031 000	
762 031 000	

Endnotes
1	Presentation speech
	Presentation speech made in the Legislative Assembly on 25 November 2014.
2	Notification
	Notified under the Legislation Act on 5 December 2014.
3	Republications of amended laws
	For the latest republication of amended laws, see www.legislation.act.gov.au.

I certify that the above is a true copy of the Appropriation (Loose-fill Asbestos Insulation Eradication) Bill 2014-2015, which was passed by the Legislative Assembly on 4 December 2014. 

Clerk of the Legislative Assembly

© Australian Capital Territory 2014