Western Australian Numbered Acts

WESTERN AUSTRALIAN FUTURE FUND AMENDMENT (FUTURE HEALTH RESEARCH AND INNOVATION FUND) ACT 2020 (NO. 22 OF 2020) - SECT 11

11 .         Section 5 amended

        (1)         Delete section 5(1) and insert:

        (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)         In section 5(2) and (3) delete “Future” and insert:

                FHRI

        (3)         Delete section 5(4) and insert:

        (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).

        (4)         In section 5(5) delete “Future Fund referred to in subsection (4)” and insert:

                FHRI Fund

        Note:         The heading to amended section 5 is to read:

                Establishment of Western Australian Future Health Research and Innovation Fund