Bill
National Collecting Institutions Legislation Amendment Bill 2020
passed, as at 2021-03-02. Communications, Cyber Safety and the Arts portfolio.
- Sponsor
- Not recorded
- Portfolio
- Communications, Cyber Safety and the Arts
Recorded stages
- introduced — 2020-12-03
- second reading — 2020-12-03
- second reading — 2021-02-25
- second reading — 2021-02-25
- third reading — 2021-02-25
- introduced — 2021-02-25
- second reading — 2021-02-25
- second reading — 2021-02-25
- second reading — 2021-02-25
- third reading — 2021-02-25
- passed — 2021-02-25
- royal assent — 2021-03-02
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2020-12-03.
The bill would give six national collecting institutions broader investment powers for donated funds.
It would allow each institution to develop its own investment policy for donated revenue, rather than being limited to low-risk options under the Public Governance, Performance and Accountability Act 2013.
The bill would amend six Acts, including the Australian National Maritime Museum Act 1990 and the National Gallery Act 1975, but does not specify a start date.
- Provide broader investment powers for donated revenue to six national collecting institutions.
- Allow institutions to develop investment policies for donated funds to improve financial sustainability.
- Address minor administrative inconsistencies between the six Acts.
Six national collecting institutions and their donors.
Sources
em
billhome
frl act