Directorate trust banking accounts
51 Directorate trust banking accounts
The responsible Minister or the responsible director‑general may open a trust banking account for the purposes of the relevant directorate.
A trust banking account must be maintained by the director‑general.
A trust banking account must not, without the Treasurer’s written approval, be opened or maintained otherwise than with an authorised deposit-taking institution with which an agreement is in force under section 32 (Agreement for the conduct of banking for Territory).
No money may be held in a trust banking account other than trust money.
A Minister or a director‑general must not open or operate a trust banking account otherwise than in accordance with this Act.
This Act’s bill:Explanatory statement
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