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Legislative Assembly for the ACT: 1999 Week 12 Hansard (25 November) . . Page.. 3768 ..
MR CORBELL (5.37): I move the following amendment, amendment No. 2 circulated in my name, to Ms Tucker's amendment No. 10:
Proposed new Subdivision D-
"221S Definitions
In this Subdivision-fund means the Rural Conservation Trust Fund established under section 221T.
"221T Rural Conservation Trust Fund
"(1) The trust must establish and maintain a fund called the Rural Conservation Trust Fund.
"(2) The fund consists of-
(a) money received by the trust under section 221V; and
(b) interest generated by money standing to the credit of the fund.
"221U Application of fund
The fund may be applied only for the following purposes:(a) payments to rural lessees for conservation activities;
(b) administrative costs;
(c) research related to the functions of the trust;
(d) activities of the trust.
"221V Trust may seek funds
"(1) The trust may seek money from any source it considers appropriate, taking into consideration the aim of encouraging environmental conservation on rural leases."(2) Money paid to the trust under this section must be paid into the fund.".
The purpose of this amendment is to establish definitions for the Rural Conservation Trust Fund. It is similar to the Government's proposal, except that it implements the fund within the trust, rather than the fund being a stand-alone fund, as proposed by the Government. It also proposes that the fund receive donations from parties outside of the Government. It also allows for interest to be generated on money in the trust.
But importantly, and contrary to Mr Smyth's pronouncements earlier, it indicates where funds may be applied from the fund. Clearly, the purpose is to direct funds to conservation activities. The provision to apply funds to administrative costs, as the amendment proposes, is a sensible mechanism, contrary to Mr Smyth's argument. The final proposed new clause will encourage payments into the fund from outside sources, with the aim of encouraging environmental conservation on rural leases. I commend the amendment to the Assembly.
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